ISLAMABAD: Pakistan heading in the right direction as the country’s current account recorded a surplus of $792 million in the first quarter of the ongoing fiscal year 2020-21, Prime Minister Imran Khan announced on Wednesday.
Moreover, the central bank said that it is the “first quarterly surplus in more than five years”.
“Great news for Pakistan. We are headed in the right direction finally,” said PM Imran.
Great news for Pakistan. We are headed in right direction finally. Current Account was in surplus of $73 mn during Sept, bringing surplus for 1st qtr to $792 mn compared to deficit of $1,492 mn during same time last yr. Exports grew 29% & remittances grew 9% over previous month.
— Imran Khan (@ImranKhanPTI) October 21, 2020
“In September, the current account posted a surplus for a third successive month. The surplus reached $73 million against a deficit of $278 million a year earlier,” said the SBP in a series of tweets.
1/3 In September, the current account posted a surplus for a third successive month. The surplus reached $73 million against a deficit of $278 million a year earlier. For details: https://t.co/Od8ikVvpBF
— SBP (@StateBank_Pak) October 21, 2020
3/3 Continued buoyancy in remittances (up 9% m/m) and a broad-based rebound in exports (up 29% m/m) drove the current account surplus in September. Imports also picked up in line with the on-going revival in domestic economic activity.
— SBP (@StateBank_Pak) October 21, 2020
