business

March 19, 2020

Current account deficit contracts 71pc in July-Feb

KARACHI: Current account deficit sharply narrowed to $2.8 billion in the first eight months of the current fiscal year from $9.8 billion a year ago, bringing its share in GDP down to 1.5 percent from 5 percent as imports and exports gap contracted with improving foreign inflows, the central bank’s data revealed on Wednesday.The State Bank of Pakistan’s data showed that gross domestic product amounted to $186 billion in the period under review, compared to $195.5 billion in the...