Current account deficit down 2.5pc in July-Sept


KARACHI, Oct 23 (TNS): The current account deficit for 1QFY19 slightly declined by 2.5 per cent or $96 million, reflecting the impact of 13pc higher remittances during the same period.

The State Bank of Pakistan (SBP) reported on Monday that the current account deficit during July-September was $3.665bn, compared to $3.761bn in the same period of last fiscal year.

The SBP report shows the current account deficit in September jumped by 61pc to $952m compared to $592m in August.

The trend indicates that the country would not be able to cut the deficit to any significant level.