Economy has turned the corner, says PM

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

In a series of tweets, the prime minister shared some data graphs indicating that the foreign direct investment had increased by 111.5 percent and the foreign private investment by 194 percent during one year.

The current account deficit was recorded at the 41 months low in September from US$1.27 billion to US$259 million.

The exports had surged by 5.9 percent and imports declined by 18.6 during a year.

He said 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 PKR 2.26 trillion respectively — the highest ever in Pakistan’s history.

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