ISLAMABAD: Minister for Economic Affairs Makhdom Khusro Bakhtiar said onSunday key economic indicators are showing strong performance despitechallenges posed by the second wave of COVID 19 and recessionary conditionsin many regions globally.

He in a statement said current account imbalances inherited from previousgovernments stand firmly addressed. “This economic performance isremarkable in the context of sharp growth contraction worldwide,” he said.

The minister said the government remains confident that GDP will evensurpass the projected growth target by June 2021, setting the stage formuch higher growth the following year.

He hoped: “Economy is expected to maintain this strong momentum and gathermore steam going forward.”

Bakhtiar said that this economic turnaround is underpinned by currentaccount balance registering a surplus of US$1.2 billion in the firstfour-months of FY2020-21 as against a deficit of US$1.4 billion in the sameperiod of last year, worker’s remittances rising to $9.4 billion duringfirst four months of FY2020-21 as against $7.5 billion of the last year andforeign direct investment witnessing 150% YoY increase in October 2021among other facts.