Govt’s efforts ‘bear fruit’ as Pakistan’s current account deficit falls: PM Imran Khan

ISLAMABAD: Prime Minister Imran Khan on Wednesday applauded the efforts of the government in reducing external imbalances to improve the economy.

The premier shared the news of Pakistan’s current account deficit plummeting by 73 percent to $579 million this year in comparison with July 2018 when it stood at $2.13 billion.

“The govt's consistent focus on reducing our external imbalances by reducing imports & increasing exports & remittances are bearing fruit,” he said on Twitter.

“Current account deficit reduced by more than $6 bn last yr & July this yr deficit is 73% or $1.5 bn lower than July 2018 - a great achievement,” he added.

The drop in the current account deficit was followed by a 10 percent increase in exports and a decline in imports as well as the $6 billion bailout agreement of the government with International Monetary Fund earlier.