The revised current account deficit for the previous fiscal year was $4.44 billion or 1.7% of gross domestic product (GDP), according to the central bank. Even in its latest staff-level report released this month, the International Monetary Fund (IMF) quoted Pakistan’s current account deficit at nearly $3 billion for the last fiscal year. But the latest summary showed that the $3 billion current account deficit was underreported by $1.5 billion or 50%, showed the official statistics. For this fiscal year, some minor adjustments in the current account deficit have also been made. During the ongoing fiscal year, the current account has remained in surplus at $959 million in the first nine months (Jul-Mar).

Source: The Express Tribune April 28, 2021 03:49 UTC