Karachi: The State Bank of Pakistan (SBP) latest figures show a current account surplus of USD 773 Million, media reports quoted. The country has posted a surplus after a gap of 17 years.
Moreover, the SBP report shows a 61% shrink in Current Account Deficit (CAD) as compared to the same period last year. It is highest in the 4 years after the PTI government took charge. The surplus is termed as a considerable relief for the incumbent government which inherited a CAD of USD 20 billion in 2018.
According to the report the surplus is the result of economic stimulus provided by the increased exports and higher than expected remittance from abroad. The surplus is expected to decrease pressure on foreign exchange reserves and will help stabilize the economy, the report read.
Similarly, the SBP and National Accounts Committee (NAC) have revised the GDP growth to 3.94pc, a change from the previous policy papers released last month.
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