Current A/C deficit slashes by $2.62 bln

Posted on May 18, 2009

KARACHI: The current account deficit of the Pakistan recorded a decline of 2.62 billion dollars during the 10 months of this fiscal. According to figures released by the State Bank of Pakistan (SBP) the current account deficit was recorded at 8.52 billion dollars during July 2008 to April 2009 compared to 11.17 billion in the same period last year. The experts say that Pakistan has cut down its imports after adopting the IMF program. This led the country’s trade deficit to reduce to 17.62 billion dollars which was recorded at 20.89 billion in the corresponding period last year.

Tags: account deficit recorded, adopting the IMF program, cut down imports, Financial Experts, Pakistan recorded a decline, Pakistan's trade deficit, The current account deficit