Pakistan’s current account deficit may surge to $20 billion

Dolllar

ISLAMABAD: With the increase in prices of commodities in the international market, amid the crisis due to the Russia-Ukraine war, the current account deficit of Pakistan may reach $20 billion.

According to economical analysts, the current account deficit would reach six per cent of the current fiscal year’s Gross Domestic Product (GDP). During the initial seven months of the fiscal year 2022, the current account deficit reached $11.6 billion.

The increase in imports has been quoted as another reason for the increasing deficit. In January, a $2.6 billion increase was witnessed in the deficit. Earlier, it was predicted that after the mini-budget, a decline in imports would be seen from January 2022, however, the conditions have not yet changed.

Exit mobile version