*KARACHI The Current account deficit (CAD) of Pakistan has reduced to $1.2billion in July, the State Bank of Pakistan (SBP) said on Wednesday.*
According to the monthly report published by the Central Bank on thebalance of payments, on a Month-on-Month basis, the difference betweenimports and exports shrank by 44.6% during the first month of the fiscalyear 2023 and fell to $1.2 billion from $2.2 billion recorded in June ofFY22.
In its statement, the SBP attributed this fall in the current accountdeficit to a sharp decline in energy imports and continued moderation inother imports.
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Earlier, the State Bank of Pakistan (SBP) decided to keep the benchmarkpolicy rate unchanged at 15 per cent for the next six weeks.
