business

July 12, 2016

IMF projects current account deficit at 1.8 percent of GDP for 2016/17

Imports to increase $4 billion ISLAMABAD: The International Monetary Fund foresees the current account deficit widening to $5.436 billion in the current fiscal year of 2016/17 from $2.885 billion in the previous fiscal year mainly because of rising imports and sluggish exports.  The IMF, in its report released after the completion of the 11th review of its $6.7 billion extended fund facility program, says in percent of GDP the current account deficit will ratchet up to 1.8 percent...