business

June 25, 2020

Current account deficit narrows 74pc in July-May

KARACHI: Pakistan’s current account deficit sharply narrowed around 74 percent to $3.3 billion during the first 11 months of the current fiscal year as the government kept import-related outflows in check through regulatory and administrative measures, the central bank’s data showed on Wednesday.The State Bank of Pakistan’s data showed that current account deficit stood at $12.5 billion in the corresponding period a year earlier.The significant reduction in the current account deficit...