Pakistan’s Current account deficit, which is one of the biggest challenges for economic managers, has recorded record of $ 17.994 billion (GDP 5.7%) at the end of the fiscal year ended June 30, 2018. Basically foreign imports and minimal-expected income.
In the last fiscal year 2017, it has recorded 44.7 percent more than $ 12.44 billion.
State Bank of Pakistan (SBP) governor Tariq Bajwa said last week that the “non-stable level” has increased due to the rising demand for the economy.
To reject the demand, the Central Bank disbursed the rate of Rs 128 to Rs 128 to 128 rupees in the last six months and increased the rate of banks in the last six months of 175% Increased from 7.5% to points.
“There are two effective tools to handle the situation with real-effective exchange rates (equivalent to rupees dollar) and financial policy (benchmark interest rate) with the central bank,” he said. “We both are using.”
He said that the government can work to implement the remaining conditions and to implement regulatory (additional) duties of the exports of export-export.
The deficit is $ 9 billion (2.9 percent of GDP) near the target of FY18. The amazing thing is that more than $ 16 billion is estimated by independent economists more than that.
FATA has largely expanded due to the country’s foreign expenses (primarily imported and loan payments) and due to large income (mainly exporting income and workers’ delivery).
During the fall of time, 13% more exports in the country and some more (1.4%) workers have been helped to get remittances. However, this record has failed to remove more import and credit card effects.
The rising deficit has pushed the country near the default situation. The country’s foreign exchange reserves have fallen into a dangerous danger over the import of two months. On July 13, she stood at least $ 9 billion for four years.
In order to cope with this situation, the supervisor government has sought to seek bail from the International Monetary Fund (IMF).
The SBP has also said that compared to $ 48.68 billion in the previous financial year, the imports increased by 14.71 percent to the US $ 55.84 billion.
12.59% to $ 24.77 billion has increased since the exports of 22 billion dollars. Workers’ remittances increased from 1.41% to $ 19.62 billion compared to $ 19.35 billion in the last fiscal year.
Foreign direct investment (FDI) has improved slightly from 0.8% to $ 2.76 billion in the fiscal year ended June 30, 2018, in different sectors of the economy, which was $ 2.74 billion last year.