Staff Reporter Karachi
The country’s current account balance (CAB) posted a “small deficit” of $200 million in April 2021 – 61 per cent lower than in April 2020, the State Bank of Pakistan (SBP) said on Tuesday.
The central bank in a statement said, “Through the first 10 months of FY21, CAB remains in surplus of $800mn, a significant turnaround from the $4.7bn deficit during the same period last year.”
With the economy rebounding strongly in the current fiscal year, imports are picking up but are offset by unprecedented growth in remittances and recovery in exports, the SBP said.
“With the CAB contained and FX [Foreign Exchange] reserves at a 4yr high, the economic revival is on a sound and sustainable footing,” it added.
