Business

Pakistan's current deficit is $2.702 bn: SBP

Express April 19, 2010

KARACHI: The State Bank of Pakistan (SBP) said on Monday that in the first 9 months of the 2009-10 fiscal year, Pakistan's current account deficit is a provisional 2.702 billion dollars.

This is just a fraction of the deficit in the same period last year which amounted to 8.379 billion dollars.

In the month of March, the country recorded a provisional current account deficit of 40 million dollars compared to 50 million dollars in February.

COMMENTS (1)

Meekal Ahmed | 14 years ago | Reply This is all very well but the SBP should be asked to be more forthcoming so that the people are better informed. Has the deficit shrunk because of a fall in import volumes or import prices, or both, which is faster than the rise, if any, of exports? What role have workers' remiitances played in this outcome? In any event, a figure of $2.7 billion is meaningless unless it is scaled with a numerator, like GDP. What is this as a % of GDP, what was it last year and what is the expected year-end outcome relative to the year end-target.

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