ISLAMABAD: Federal Minister for Industries and Production Hamad Azhar has said that the country’s economy is improving, the trade deficit is continuing to decline and the production of industries is also increasing.
According to details, Federal Minister for Industries and Production Hamad Azhar said in his tweet on social networking site Twitter that the country’s economy is improving.
Hamad Azhar said that for the fourth consecutive month in the financial year, the current account remained surplus, during the four months, the current account surplus remained at $1.2 billion.
He said that the trade deficit is declining and the production of industries is increasing.
2/2 This is the fourth successive monthly surplus. Since July, the cumulative current account surplus has reached $1.2 billion, reversing the $1.4 billion deficit recorded in the same period last year. See https://t.co/Od8ikVvpBF— SBP (@StateBank_Pak) November 19, 2020
According to the SBP, the current account surplus increased to $382 million in October from $59 million in September.
The central bank said the current account had a surplus of $1.2 billion during July-October, compared to a current account deficit of $1.4 billion in the same period last year.
According to the SBP, the increase in remittances and limited trade deficit increased the current account surplus.
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