Prime Minister Imran Khan on Tuesday said that Economy of Pakistan despite the coronavirus pandemic has staged a remarkable turnaround.
Taking to his official Twitter handle, PM Imran Khan said:
“MashaAllah despite Covid 19 great news on the economy – remarkable turnaround.”
Imran Khan said that despite the national challenges, Pakistan’s current account witnessed a surplus. PM wrote:
“Current account surplus again in Nov: $447 mn.”
The Premier added that:
“For fiscal year so far, surplus is $1.6 bn as opposed to deficit of $1.7bn same period last yr.”
Prime Minister went on to say that the forex reserves of the Central Bank also raised. He wrote:
“SBP’s FX reserves have risen to about $13 bn, highest in 3 yrs.”
MashaAllah despite Covid 19 great news on economy – remarkable turnaround. Current account surplus again in Nov: $447 mn. For fiscal year so far, surplus is $1.6 bn as opposed to deficit of $1.7bn same period last yr. SBP's FX reserves have risen to about $13 bn, highest in 3 yrs
— Imran Khan (@ImranKhanPTI) December 22, 2020
The State Bank of Pakistan earlier revealed that Pakistan’s current account balance – the difference between the government’s foreign income and expenditure – remained in surplus for the fourth straight month at $382 million in October.
The Central Bank in its statement said that “In October, the current account surplus rose further to $382 million from $59 million in September, on the back of a sustained increase in remittances and smaller trade deficit.”
The Bank added that “This is the fourth successive monthly surplus. Since July, the cumulative current account surplus has reached $1.2 billion, reversing the $1.4 billion deficit recorded in the same period last year.”