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Investor Yousaf Nazar on the current account deficit said it "surged again in the second half of the year, reaching $9.2 billion in the first six months of FY2021-22. The full-year deficit was $17.5 billion (4.7% of GDP). Additionally, the fiscal deficit rose to over 7% of GDP in FY2018-2019 and FY2019-2020."
File information Description Source: Trading Economics, "Pakistan Current Account"; itself based on data from the State Bank of Pakistan (SBP).
The Pakistani rupee depreciated against the US dollar until around the start of the 21st century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness.
According to State Bank of Pakistan data, Pakistan requires $6.1 billion for debt servicing before the end of the fiscal year (June 30). Its current account deficit stands at $269 million, which could further exacerbate the projected deficit of $6 billion that the government expects, thereby complicating Islamabad’s ability to fulfil its debt ...
World map by current account balance (% of GDP), 2023, according to World Bank [1]. This is the list of countries by current account balance, expressed in current U.S. dollars and as percentage of GDP, based on the data published by World Bank, United Nations Conference on Trade and Development and Organisation for Economic Co-operation and Development.
Pakistan is facing a "huge external financing gap" of $4 billion, with China, Saudi Arabia, and the UAE expected to provide additional support. The IMF is seeking to fund its program and secure $7 billion for debt repayment, current account deficit financing, and increasing foreign exchange reserves. The talks between Pakistan and the IMF were ...
Pakistan primary surplus target of 0.2% of GDP; Targeted fiscal deficit of 4.9% of GDP; Increased tax on banks and fertilizers; Luxury tax on cars with 1,600cc engine size and above. Tax on real estate transactions to 2% versus 1% for tax-payers; Increased taxes on tobacco companies by a third to 200 billion rupees; Fuel cuts for government ...
A current account surplus increases a nation's net foreign assets by the amount of the surplus, and a current account deficit decreases it by that amount. A country's balance of trade is the net or difference between the country's exports of goods and services and its imports of goods and services, excluding all financial transfers, investments ...