PM Imran says economic measures reducing trade deficit
PM Imran took to twitter and posted some stats about the trade deficit claiming that exports were rising & imports were falling for Jan 2019 compared to Jan 2018.
Our economic stabilization measures now showing positive results with exports rising & imports falling for Jan 2019 compared to Jan 2018 leading to to a $1 bn reduction in trade deficit. 1/2— Imran Khan (@ImranKhanPTI) February 12, 2019
In another tweet, the premier said that the deficit in services trade also went down by Rs800 million.
2/2 Deficit in services trade also down by 800 mn & Overseas Pakistanis' remittances up by 12.2% July 2018 to Jan 2019 from same period a yr ago. The clear improvements in our external accounts indices prove success of our economic policies.— Imran Khan (@ImranKhanPTI) February 12, 2019
The trade deficit is a major chunk in the Current Account which in turn forms part of the Balance of Payment.
The tweets came as the government is trying to negotiate with the International Monetary Fund (IMF) for economic relief.
Though Imran Khan disparaged IMF package being in opposition, the incumbent Finance Minister Asad Umar is trying to seal a deal with the institution. He has also claimed that the IMF package would be the last one for the country.
Pakistan has already secured a hefty package from Saudi Arabia and the United Arab Emirates.
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