Adviser on Finance Abdul Hafeez Sheikh has said that the current account deficit reduced by seventy three percent during the first five months of current fiscal year as compared to the corresponding period last year.
In a tweet on Friday, he said the foreign exchange reserves of State Bank of Pakistan increased by 1.8 billion dollars during this period.
He said reduction of three billion dollars in foreign exchange swaps and forward liabilities increased the foreign exchange buffer by 4.8 billion dollars which provided further stability to external account.
Current Account Deficit is down by 72.6% in Nov 2019 & 73% between July-Nov 2019 vs same period in 2018.
In 5 months, increase in SBP Reserves by $1.8B & reduction of $3B in FX swaps/forward liabilities increased FX buffer by $4.8B providing further stability to external account. pic.twitter.com/TLODiizRsi— Dr. Abdul Hafeez Shaikh (@a_hafeezshaikh) December 20, 2019
