Pakistan posts first current account surplus since Nov 2020
Business
Cumulatively CAD reduced to $3.4 billion in Jul-Mar FY23 as compared to same period of last year
ISLAMABAD (Web Desk) – Pakistan witnessed a surplus of $654 million in its current account in outgoing month of March as curbs imposed by the government on imports shrunk trade deficit.
According to data shared by the State Bank of Pakistan (SBP), Pakistan has posted the surplus for the first time in over tow years or since November 2020.
Taking to Twitter, the central bank said current account balance (CAB) recorded $654 million surplus in Mar 2023 against a deficit of $36 million in Feb 2023.
Current Account Balance (CAB) recorded $654 million surplus in Mar 2023 against a deficit of $36 million in Feb 2023. Cumulatively CAD reduced to $3.4 billion in Jul-Mar FY23 against a deficit of $13.0 billion in Jul-Mar FY22.https://t.co/q3LNv3HOB0https://t.co/Od8ikVvXrd pic.twitter.com/RNYyFCJeZJ
— SBP (@StateBank_Pak) April 19, 2023
“Cumulatively CAD reduced to $3.4 billion in Jul-Mar FY23 against a deficit of $13.0 billion in Jul-Mar FY22,” it wrote.
