Pakistan's economic landscape shows a remarkable turnaround as the country's current account shifts from deficit to surplus, according to the latest report by the State Bank of Pakistan (SBP).
The data reveals a surplus of $12.8 million in February, a stark contrast to the $30 million deficit recorded in January. This positive shift is attributed to a combination of factors, including a decrease in imports and a simultaneous increase in exports, as highlighted by experts.
Additionally, the surge in remittances has further bolstered the current account balance, contributing to its improvement. However, despite these positive developments, the central bank notes a significant loss of $1 billion in the current account over the past eight months of the current financial year.
In comparison, during the same period in the previous financial year, the country faced a deficit of 3 billion 85 million dollars, underscoring the progress made in addressing the economic challenges.
