The country’s current account deficit is expected to cross $20 billion mark by end of current fiscal year as against the claims of only $1 billion made by the PTI leaders.
According to sources from the cabinet in waiting, the actual figure of the CAD in 2018 was $19 billion. With respect to the foreign exchange reserves, the sources also termed the claims of leaving $22 billion forex reserves by the previous regime as misleading saying that actual numbers of the reserves with the central bank were $11 billion.
While in 2018, the State Bank of Pakistan (SBP) had foreign exchange reserves of $10 billion. Similarly, the sources also rejected the PTI’s claims of collecting taxes worth of Rs 6.1 trillion in 2022, saying that the tax to GDP ratio has decreased significantly from 11.1% in 2018 to 9.1% in 2022.
