KARACHI: Pakistan’s current account has turned negative in May following surpluses in the three preceding months of the outgoing financial year. The State Bank of Pakistan (SBP) has reported that the current account posted a deficit of 270 million dollars in May against a surplus of 491 million dollars in April. The current account in May fiscal year 23 was in surplus with 155 million dollars.
Pakistan overall current account deficit sharply narrowed by 88 per cent to 464 million dollars in 11MFY24, compared to 3.765 billion dollars in the same period last fiscal year.
A vital change was observed when the current account posted surpluses of 128 million dollars in February, 434 million dollars in March and 491 million dollars in April. However, the trend had changed in May.
