Pakistan’s current account turns surplus of $13mn: SBP

Pakistan’s current account deficit has been slashed by 73.6% on a cumulative basis during July-May FY2020 compared to same period last year, according to SBP.

Current account has turned into a surplus of $13 million on May 20 against a deficit of $530 million in April 20 and $1,004 million in May 19, stated the central bank on Wednesday.

“Pakistan’s current Account turned into a surplus of $13 million May 20 against a deficit of $530 million in April 20 and $1004 million in May 19,” stated a tweet from the SBP.

The SBP said that the current account deficit has been slashed by 73.6% on a cumulative basis during July-May FY2020 to $3.3 billion from a whopping $12.5 billion in the same period last year.

“On cumulative basis, the CAD has narrowed by 73.6% to $3.3 billion during Jul-May FY20 from $12.5 billion during the same period last year.”