Current Account Deficit Shrinks To $O.5 Billion

Prime Minister Imran Khan revealed that the country’s current account deficit had shrunk to $0.5 billion in February, the lowest monthly deficit recorded this fiscal year.

The premier took to his official Twitter handle to state that “timely action to contain current account deficit” had borne fruit, and that the current deficit was lower than that of Jan and of the FY22, “so far”.

He further stated that exports were close to an all-time high, while imports were down 21% from their peak. PM Imran added that there was also a “strong growth” in large scale manufacturing.

Federal Minister for Planning and Development Asad Umar also tweeted about the “great news” of the “sharp reduction”.

The minister maintained that exports remained strong and imports were moderating, while growth continued in large scale manufacturing.