State Bank has issued the data of April Current account deficit with $ 200 million in first ten months of the on going fiscal year, down 61% from last year same period.
A State Bank tweet shows the data saying that despite in April’s negative deficit of current account overall ten months balance stayed in surplus of $ 800 million which was an extraordinary better than the previous year huge deficit of 4.7 billion.
1/2 Current account balance (CAB) posted a small deficit of $200mn in Apr21, 61% lower than in Apr20. Through the first 10mths of FY1, CAB remains in surplus of $800mn, a significant turnaround from the $4.7bn deficit during the same period last year. See https://t.co/Od8ikVvpBF pic.twitter.com/1DsgFTMCqC
— SBP (@StateBank_Pak) May 25, 2021
The issue with Pakistan’s growth is that whenever Pakistan is growing faster its current account deficit becomes an issues, researchers have complained about this issue. Asian Development Banak has even written a research articles on the issue, which IMF had contested and argued against.
