ISLAMABAD: The State Bank of Pakistan today reported a significant decline in the current account deficit in first three months of the ongoing fiscal year and in the month of Sept 2022.
According to the SBP, the current account deficit fell to $2.2 billion compared to $3.5 billion in the corresponding period of the previous fiscal year.
Meanwhile, in the month of September 2022, the current account deficit has decreased to $0.3 billion as against $0.7 billion in the preceding month.
The latest balance of payment position shows that this is the third consecutive month of decline in the current account deficit of Pakistan.
Thus, in the month of September, the CAD is less than half of the preceding month and one-fourth of September 2021 CAD.
In 2022-23, the government has estimated around $12 billion current account deficit, but in view of the prevailing situation, the CAD is expected to stay below $10 billion in this fiscal year.
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