Current account deficit declines by 72pc

ISLAMABAD       -        Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh Friday said current account deficit declined by 72.6 percent in November and 73 percent between July-Nov this year. He tweeted that current account deficit is down by 72.6 percent in Nov 2019 & 73 percent between July-Nov 2019 VS same period in 2018.In 5 months, increase in SBP Reserves by $1.8b & reduction of $3b in FX swaps/forward liabilities increased FX buffer by $4.8b providing further stability to external account. Sharing latest figures on external deficit and foreign reserves on Twitter, he said in five months, an increase in State Bank of Pakistan’s reserves by “$1.8b & reduction of $3b in FX swaps/forward liabilities increased FX buffer by $4.8b,” providing further stability to external account.

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