KARACHI: Pakistan’s current account posted a surplus of 654 million dollars in March following a fall in imports forced due to restrictions and an increase in remittances amid the month of holy Ramadan, Pakistan Stated Bank said on Wednesday.
The PSB data showed that it was for the first time since 2015 that the country’s surplus was recorded as high. Pakistan state bank tweeted, “Current Account Balance (CAB) recorded $654 million surplus in Mar 2023 against a deficit of $36 million in Feb 2023. Cumulatively CAD reduced to $3.4 billion in Jul-Mar FY23 against a deficit of $13.0 billion in Jul-Mar FY22”.
Current Account Balance (CAB) recorded $654 million surplus in Mar 2023 against a deficit of $36 million in Feb 2023. Cumulatively CAD reduced to $3.4 billion in Jul-Mar FY23 against a deficit of $13.0 billion in Jul-Mar FY22.https://t.co/q3LNv3HOB0https://t.co/Od8ikVvXrd pic.twitter.com/RNYyFCJeZJ
— SBP (@StateBank_Pak) April 19, 2023
Last month, the present account deficit — the gap between Pakistan’s expenditures and income — had clocked in at 74 dollars million.
Overall, in the 9 months of the current financial year, the current account deficit was reported at $3.4 billion, down 74.1 percent from July-March 2022.
Meanwhile, finance minister Ishaq Dar also said that current account surplus of 654 million dollars has been recorded for March 2023.
In a tweet today, the minister said in February 2023 it was current account deficit of 36 million dollars.
Latest Update:
Current Account Surplus (CAS) of $654 million recorded for March 2023
In February 2023 it was Current Account Deficit (CAD) of $36 million
Cumulative Numbers:
CAD stands at $3.4 billion for July-March FY23 against CAD of $13.0 billion for July-March FY22.— Ishaq Dar (@MIshaqDar50) April 19, 2023
