Pakistan economy faces yet another blow

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Pakistan economy faces yet another blow

ISLAMABAD - Pakistan economy faces yet another blow as the current account deficit surges further.

The current account deficit for 2MFY19 further widened by 10 per cent, compared to the same period of last fiscal - indicating that the deficit trend is still on the rise.

The State Bank of Pakistan (SBP) on Wednesday reported that the current account deficit during July-August FY19 increased to $2.721 billion as against $2.477bn in the corresponding period of last year.

In FY18, the current account deficit jumped 33 pc to $18bn while the FY17 figure stood at $12bn.