Islamabad: Prime Minister (PM) Imran Khan on Monday stated that Pakistan’s current account balance had registered a USD 424 million surplus in July; adding that the national economy was ‘on the right track’, according to news sources.
The premier took to twitter and said that in July last year, the country’s current account deficit was USD 613 million and last month (July) the deficit was USD 100 million. He linked this encouraging current account balance surplus to the record remittances and the ongoing recovery in exports – which has recovered about 20% since June.
Earlier, the State Bank of Pakistan (SBP) reported that the country received record-high remittances of USD 2.768 billion in the first month of the new fiscal year. Moreover, USD 23 billion have been received during the outgoing financial year.
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