fiscal deficit of Pakistan reduced by 73 percent

Current fiscal deficit of Pakistan reduced by 72.6 percent during first five month of FY 2019-2020.

Prime Minister’s Adviser on Finance Abdul Hafeez Sheikh tweeted two different charts to show performance of the government in finance sector.

He wrote in his tweet  that the current account deficit reduced by seventy three percent during the first five months of current fiscal year as compared to the corresponding period last year.

Current Account Deficit is down by 72.6% in Nov 2019 & 73% between July-Nov 2019 vs same period in 2018.

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In 5 months, increase in SBP Reserves by $1.8B & reduction of $3B in FX swaps/forward liabilities increased FX buffer by $4.8B providing further stability to external account. pic.twitter.com/TLODiizRsi

— Dr. Abdul Hafeez Shaikh (@a_hafeezshaikh) December 20, 2019

Hafeez said the foreign exchange reserves of State Bank of Pakistan increased by 1.8 billion dollars during this period, in a tweet on Friday,

He said reduction of three billion dollars in foreign exchange swaps and forward liabilities increased the foreign exchange buffer by 4.8 billion dollars which provided further stability to external account.