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Current Account Deficit of USD 9 Billion Is Sustainable For FY22 Says SBP

Current Account Deficit of USD 9 Billion Is Sustainable For FY22 Says SBP

admin-augaf by admin-augaf
July 29, 2021
in Business, Finance
Reading Time: 1 min read
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Current Account Deficit of USD 9 Billion Is Sustainable For FY22 Says SBP

Current Account Deficit of USD 9 Billion Is Sustainable For FY22 Says SBP

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Karachi July 27 2021: State Bank of Pakistan reported that a current account deficit within range of 2-3 percent of GDP is sustainable for on going fiscal year.

The MPC noted that the market-based flexible exchange rate system, resilience in remittances, an improving outlook for exports, and appropriate macroeconomic policy settings should help contain the current account deficit in a sustainable range of 2 – 3 percent of GDP in FY22.

SBP reported GDP at USD 298 billion at the end of fiscal year 2020-21

Notwithstanding this moderate current account deficit, the country’s foreign exchange reserves position is expected to continue to improve this year due to adequate availability of external financing.

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