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Business - August 24, 2020

Pakistan’s current account balance turns into surplus in July 2020

ISLAMABAD (City News) – Pakistan’s current account balance has swung into a surplus of $424 million in July 2020. In June 2020 current account posted a deficit of $100 million.

According to details, this is the fourth monthly surplus since last October and a significant improvement on the deficit of $613 million in the same month last year.

Strong turnaround is due to a continued recovery in exports and record-high remittances. Moreover 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.

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