Current Account Deficit reduces in September: Finance Ministry
ISLAMABAD (PEN) – The Ministry of Finance has said that the current account deficit has reduced to USD 1.13 billion In September from USD 1.47 billion in August.
According to the press release issued by Ministry Finance, as per SBP, the current account deficit has reduced to USD$1.13 billion In September from USD 1.47 billion in August.
Overall, the deficit in the first quarter reported at USD 3.4billion.
Approximately, USD 400 million were spent on vaccines just in the month of September 2021 and overall one billion dollars during the last quarter.
Therefore, adjustment with vaccines import, the current account deficit for the quarter has reduced to USD 2.4 billion.
On Export front, the trend is increasing on month-on-month basis to USD2.64 billion in September or 12.5%.
In the first quarter, exports recorded at USD 7 billion.
Similarly, remittances are right on track to mark USD 32 billion.
Remittances and exports of goods and services combined will be in the range of USD 70 billion in FY22.