A senior journalist Sheikh Waqas Azeem analyses the economic situation of Pakistan.The PTI government has taken initiatives to improve economy and claims that it has put economy on right track.However, despite tall claims, the PTI government will continue facing economic challenges.
Pakistan’s current account deficit declined 72.8% Year on Year basis from $2.13 in July 2018 to $57.9 m in July 2019.
On month on month basis current account deficit decreased from $921 m in June 2019 to $579 m in July 2019. It witnessed a reduction of 37.1% month on month basis.
Down turn in current account deficit was witnessed due to decline in imports around 23% . In july imports declined almost $1.4 b while gone up by 9 % which is almost $216 m against last year. Consequently, Trade deficit went down by 42% YoY to $2.3 b against $4 b in july 2018.
In july remittanses also went up by 9 against last july crossing a figure of $2 b.