Share:ISLAMABAD - Despite making tall claims of achieving economic stability, the PTI government is facing pressure on the external sector that is likely to result in a higher than projected current account deficit in current fiscal year. An official of the ministry of finance admitted that current account deficit is posing a major threat for the economy. The SBP has projected current account deficit this year that is 2-3% of the Gross Domestic Product, which is roughly $6.5-9.5 billion. The country’s imports are increasing at fast rate as against the exports, which are putting pressure on the current account deficit. The government is hoping that foreign remittances increase in current fiscal year as like previous year.

Source: The Nation September 24, 2021 03:07 UTC