Current Account Deficit: Pakistan gets a good news on economic front

Current Account Deficit: Pakistan gets a good news on economic front
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ISLAMABAD - Pakistan current account deficit has decreased by a surprising 2.5% in the first quarter of the financial year 2018-19.

The decrease came due to the increasing income of foreign receipts via inflow from exports and remittances.

Thee current account deficit decreased to $3.66 billion during the period of July to September as compared with $3.76 billion reported in the corresponding period of the previous financial year, showing a modest growth of 2.5 percent or $96 million.

Current Account has been ballooning over the past few years due to consistent growth in imports of commodities and services whereas the avenues of foreign exchange remained limited.

The depreciation of the Rupee against Dollar is one of the main reasons for the decrease of current account deficit in the period under review. The depreciation enhanced the values of exports to $5.88 billion this year from $5.67 billion of the previous year during the first quarter of FY19.

Economy