Karachi: State Bank of Pakistan in a statement said that Pakistan’s current account is now in surplus. Current Account was surplus by $ 13 million in May 2020.
“Pakistan’s Current Account turned into a surplus of $13 million May 2020 against a deficit of $530 million in April 2020 and $1004 million in May 2019,” State Bank twitted today. “On cumulative basis, the CAD has narrowed by 73.6 percent to $3.3 billion during Jul-May FY20 from $12.5 billion during the same period last year.”
Current Account went into deficit in the previous government and reached to $19 billion in the financial year 2018. However, new government took measures to curtail this deficit which had current account started to go down and financial year 2019 ended with a reduction of 5 billion dollars as fiscal year ended with $13.434 billion.
SBP’s detail data is available here