Current Account in Pakistan
Pakistan - Current AccountThe economy likely ended FY 2019, which ended in June, on shaky ground. Manufacturing output shrank notably again in April and merchandise exports fell again in May, although a sharp decline in imports somewhat narrowed the trade deficit in year-on-year terms. Moreover, public debt rose markedly in annual terms in May, highlighting the strain on the cash-strapped government’s coffers. In other news, on 3 July, the IMF formally approved the USD 6 billion Extended Fund Facility. While the bailout will provide much needed funds and support reform efforts, the ambitious revenue targets will likely inflict short-term pain on the economy. With consumers already battling high inflation, Pakistani households are wary of new IMF bailout conditions requiring the country to broaden its tax base and reduce subsidies. Strong overseas remittances in May and June should provide some relief for consumers, however.
Pakistan - Current Account Data
|Current Account (% of GDP)||-1.1||-1.3||-1.0||-1.7||-4.1|
5 years of economic forecasts for more than 30 economic indicators.
Pakistan Current Account Chart
Source: State Bank of Pakistan.
|Bond Yield||14.09||0.0 %||Jul 11|
|Exchange Rate||158.8||-0.05 %||Jul 11|
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