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Economy Is On The Right Track: PM Imran Khan

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PM Imran Khan confirms the country’s current account balance recorded surplus!

Prime Minister Imran Khan said on Monday that country’s current account balance had recorded a surplus of $424 million in the month of July terming that Pakistan’s economy is on the right track.

In his recent tweet, he shared:

“MashaAllah Pakistan’s economy is on the right track. After the current account balance posted a deficit of $613 mn in July 2019 & a deficit of $100 mn in June 2020, in July 2020 current account balance swung upwards to a surplus of $424 mn.”

Last year according to the premiere Pakistan had a current account deficit (CAD) of $613 million while last month the CAD stood at $100m. He also attributed in the positive turnover in the current account balance is due to the “ record remittance” and “continuing recovery through exports that has risen by 20% compared to June 2020.”

According to data released by the State Bank of Pakistan (SBP) last week, the country received record-high remittances of $2.768 billion in the first month of the new fiscal year, following the record $23bn received during the outgoing financial year.

State Bank of Pakistan stated:

“This ($2.768bn) is the highest-ever level of remittances in a single month in Pakistan.”

PM Khan last week also shared the good news saying:

“More good news for Pakistan economy, Remittances from overseas Pakistanis reached $2768 million in July 2020, highest ever amount in one month in the history of Pakistan.”

Planning Minister Asad Umer also praised the current account surplus and shared:

“PTI govt inherited a current account deficit of 2 billion $/ month as a legacy of PML N. In July 2020 Pakistan ran a current account surplus of 424 million $. Remember the current account deficits have led to massive external debt and compromise our independence and security.”

Also read: Guess The Actors Who Missed Out On The Biggest Drama Serial In Pakistan’s History!

Read: Picture Of Imran Khan Reading The Anarchy Goes Viral

Read more: Imran Khan Narrowly Avoids Disaster After Leaving NYC 

Related: Imran Khan, Donald Trump Top List Of Most Googled UNGA Leaders 

Read even more: Indian SC Rules To Build Temple On Babri Mosque Land!

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Nimra Arshad

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