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.
State Bank of Pakistan (SBP) in its tweet said:
“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.”
1/1 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.
— SBP (@StateBank_Pak) November 19, 2020
The central bank said, “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.”
2/2 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. See https://t.co/Od8ikVvpBF
— SBP (@StateBank_Pak) November 19, 2020
Commenting on the recorded surplus Federal Minister for Planning, Development, Reforms and Special Initiatives Asad Umar said, “We inherited the biggest current account deficit in history.”
Taking to his Twitter handle, he wrote:
“382 million $ current account surplus in Oct. This is the 4th month of current account surplus. Cumulative surplus jul to oct is $ 1.2 billion. We inherited the biggest current account deficit in history with monthly current account deficits of $2 billion when govt was formed!”
382 million $ current account surplus in Oct. This is the 4th month of current account surplus. Cumulative surplus jul to oct is $ 1.2 billion. We inherited the biggest current account deficit in history with monthly current account deficits of $2 billion when govt was formed!
— Asad Umar (@Asad_Umar) November 19, 2020
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