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October 20, 2019

PM Imran praises his team for ‘economic turnaround’

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APP
October 20, 2019

ISLAMABAD: Prime Minister Imran Khan appreciated his team on Saturday for turning around the national economy within a year with the indicators showing considerable increase in foreign direct investment, exports and remittances, besides a sharp decline in current account deficit.

In a series of tweets, the Prime Minister shared some data graphs indicating that the foreign direct investment had increased by 111.5 per cent and the foreign private investment by 194 per cent during one year.

The current account deficit was recorded at 41 months low in September from US $1.27 billion to US $259 million. The country’s exports surged by 5.9 per cent and imports declined by 18.6 during a year.

When the PTI government took power, Pakistan had the biggest current account and fiscal deficit. Both current account and fiscal deficits in 2018 stood at US $18.25 billion and 2.26 trillion PKR (Pakistan Rupees) respectively, the highest ever in Pakistan’s history.

Similarly, reposing trust in the government’s economic policies, the overseas Pakistanis had sent far more remittances as the indicators showed 17.6 per cent increase in remittances during September this year.

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