KARACHI: The coalition government’s three-month import embargo was successful, as Pakistan’s current account deficit—the difference between the nation’s high foreign expenses and low income—decreased by a staggering 45% month-over-month.
According to data issued by the State Bank of Pakistan (SBP), the current account deficit decreased to $1.21 billion in July 2022 from a deficit of $2.2 billion (revised number) in June.
The central bank stated in a brief message posted on its Twitter account that “the current account deficit fell to $1.2 billion in July from $2.2 billion in June, principally reflecting a strong decline in energy imports and a continued moderation in other imports.”
