ISLAMABAD – Prime Minister Imran Khan on Monday said Pakistan’s economy was on right track with significant achievements in the export sector and foreign remittances.
“This strong turnaround is a result of a continuing recovery in exports, which rose 20 % compared to June 2020, and record remittances,” he said in a tweet.
Imran Khan said, ” MashaAllah, Pakistan’s economy is on the right track”.
He mentioned that the current account balance posted a deficit of $613 million in July 2019 and a deficit of $100 million in June 2020.
In July 2020, the current account balance swung upwards to a surplus of $424 million, he added.
MashaAllah Pakistan’s economy is on the right track. After current account balance posted deficit of $613 mn in July 2019 & a deficit of $100 mn in June 2020, in July 2020 current account balance swung upwards to a surplus of $424 mn.
— Imran Khan (@ImranKhanPTI) August 24, 2020
This strong turnaround is a result of continuing recovery in exports, which rose 20 % compared to June 2020, & record remittances.
— Imran Khan (@ImranKhanPTI) August 24, 2020
According to the State Bank of Pakistan, this was the fourth monthly surplus since last October.
1/3 Pakistan’s current account balance swung into a surplus of $424 mn in July 2020 after posting a deficit of $100 mn in June. For details: https://t.co/fMcRUupmT2
— SBP (@StateBank_Pak) August 24, 2020
“Pakistan’s current account balance swung into a surplus of $424 mn in July 2020 after posting a deficit of $100 mn in June. This is the fourth monthly surplus since last October, and a significant improvement on the deficit of $613 mn in the same month last year,” SBP said.
2/3 This is the fourth monthly surplus since last October, and a significant improvement on the deficit of $613 mn in the same month last year.
— SBP (@StateBank_Pak) August 24, 2020
3/3 Strong turnaround is due to a continued recovery in exports and record-high remittances, with support from several policy and administrative initiatives by SBP and government. Exports sustained strong recovery, with m/m growth of further 19.7% in July on top of 25.5% in June.
— SBP (@StateBank_Pak) August 24, 2020
It added that the strong turnaround was due to a continued recovery in exports and record-high remittances, with support from administrative initiatives by SBP and the government.
“Exports sustained strong recovery, with m/m growth of further 19.7% in July on top of 25.5% in June,” the central bank said.
