KARACHI: Pakistan’s current account deficit has soared to $572 million in April 2020 but remains affordable due to recent growth in the country’s foreign currency reserves.
The State Bank of Pakistan reported that the current account deficit soared 64-fold in April compared to $9 million in the previous month of March.
It is said that the effect of Covid-19 will determine the direction of the national economy, particularly in relation to exports and workers’ remittances.
Arif Habib Limited Director Ahsan Mehanti said the widening of the current account deficit has been mainly caused by the huge drop in country’s exports as exports of goods dropped one-fourth to $1.39 billion in April compared to $1.82 billion in March.
Current account deficit spikes to $572mln
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