PM Khan tweets about national economy, says economic reforms has brought current account deficit down.
SLAMABAD: (Urdu Point/Pakistan Point News-Nov 19th, 2019) Prime Minister Imran Khan on Tuesday expressed satisfaction over state of national economy, saying that the country's economy was finally going to the right direction.
Through his twitter account, Prime Minister Imran Khan congratulated exporters and encouraged them to do more for the sake of country.
Imran Khan wrote: "Pakistan economy finally heading in right direction as more of our economic reforms bear fruit: Pak's current account turned into surplus in Oct 2019, for first time in 4 yrs. Current account balance was +$99mn in Oct 2019 compared to -$284mn in Sept 2019 & -$1,280mn in Oct 2018,". He also wrote: "For first 4 months of our fiscal year, our current account deficit has fallen by 73.5% compared to same period last fiscal year. Our exports of goods & services in Oct 2019 rose 20% over previous month and 9.6% over Oct 2018. I congratulate our exporters & encourage them to do more," added the premier.
The State Bank of Pakisan in its latest report said that the current account deficit was brought down by the government as the data in the month of October was giving positive signals. It showeed that Rs 99 million againist a net deficit of $1.28 billion in the same month of previous fiscal year.
According to the state bank, massive cut was made in the imports' bill that helped to achieve the goal of growing economy. The state bank also endorsed the government's steps for strengthening economy sayaing that the fall of current account deficit was a big a achievement for the country. It also meant that there was macroeconomic stability, it added.
