Pakistan's Current Account Deficit Shrinks 90 Percent in January
TEHRAN (ANA)- Pakistan's current account deficit shrank by 90 percent in January 2023 as compared to the same month last year as the government continued with its strategy to restrict imports to evade an external payments crisis, the State Bank of Pakistan (SBP) said.
Pakistan's current account deficit fell to 0.24 billion US dollars in January 2023 from 2.47 billion dollars in the same month of the previous year, recording a 90.3 percent decrease, data released by the SBP showed.
On a month-on-month basis, the current account deficit went down from 0.29 billion dollars in December 2022, showing a decrease of 17 percent, according to the SBP data.
Cumulatively, the current account deficit stood at 3.80 billion dollars in the July-January period of the current fiscal year 2023, compared with 11.56 billion dollars in the same period of the fiscal year 2022, the SBP said.
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