{"id":68352,"date":"2020-07-25T09:39:00","date_gmt":"2020-07-25T04:39:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=68352"},"modified":"2020-07-24T16:49:07","modified_gmt":"2020-07-24T11:49:07","slug":"sbp-report-reveals-paks-lowest-in-5-years-current-account-deficit-plummet","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-report-reveals-paks-lowest-in-5-years-current-account-deficit-plummet.html","title":{"rendered":"SBP report reveals Pak’s ‘lowest in 5 years’ current account deficit plummet"},"content":{"rendered":"\n

Karachi: The State Bank of Pakistan (SBP<\/a>) on Tuesday revealed that the country’s current account deficit \u2013 recorded as the difference between the government\u2019s higher foreign expenditures and lower-income figures \u2013 had narrowed by a ‘staggering’ 78%, according to news sources.<\/p>\n\n\n\n

Read:<\/strong> SBP shares data on foreign investment inflows recorded during FY2019-20<\/a><\/p>\n\n\n\n

The national current account deficit contracted to USD 2.96 billion by the end of the (Fiscal Year) FY2019-20 \u2013 which ended on June 30. The deficit shrank to 1.1% of the gross domestic product (GDP) in FY20 as compared to 4.8% (USD 13.43) billion in the FY19.<\/p>\n\n\n\n

Read:<\/strong> SBP reduces markup on schemes to encourage investment<\/a><\/p>\n\n\n\n

This improvement is credited to the government\u2019s upward revision of the May\u2019s current account surplus to USD 344 million \u2013 compared to the initially reported figures of USD 13 million. In dollar value, the GDP has contracted 5.22% to USD 263.80 billion in FY 2020.<\/p>\n\n\n\n

Earlier, the government has provisionally reported the economic contraction of 0.38% \u2013 lowest in past 68 years.<\/p>\n","protected":false},"excerpt":{"rendered":"

Karachi: The State Bank of Pakistan (SBP) on Tuesday revealed that the country’s current account deficit \u2013 recorded as the difference between the government\u2019s higher foreign expenditures and lower-income figures \u2013 had narrowed by a ‘staggering’ 78%, according to news sources. Read: SBP shares data on foreign investment inflows recorded during FY2019-20 The national current account deficit contracted to USD 2.96 billion by the end of the (Fiscal Year) FY2019-20 \u2013 which ended on June 30. The deficit shrank to 1.1% of the gross domestic product (GDP) in FY20 as compared to 4.8% (USD 13.43) billion in the FY19. Read: SBP reduces markup on schemes to encourage investment This improvement is credited to the government\u2019s upward revision of the May\u2019s current account surplus to USD 344 million \u2013 compared to the initially reported figures of USD 13 million. In dollar value, the GDP has contracted 5.22% to USD 263.80 billion in FY 2020. Earlier, the government has provisionally reported the economic contraction of 0.38% \u2013 lowest in past 68 years.<\/p>\n","protected":false},"author":75,"featured_media":60606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[10620,7793,21853],"persona":[],"class_list":{"0":"post-68352","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-current-account-deficit","9":"tag-foreign-exchange-reserves","10":"tag-state-bank-of-pakistan-sbp","11":"cat-15017-id"},"acf":[],"yoast_head":"\nPak's 'lowest in 5 years' current account deficit plummet - Zameen News<\/title>\n<meta name=\"description\" content=\"SBP revealed that SBP) revealed that the national current account deficit contracted to USD 2.96 billion by the end of the (Fiscal Year) FY2019-20\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-report-reveals-paks-lowest-in-5-years-current-account-deficit-plummet.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pak's 'lowest in 5 years' current account deficit plummet - 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