Featured Pakistan ran a current account surplus of 424 million $ in July

[Shahzaz ud din]

Pakistan ran a current account surplus of 424 million $ in July - Asad umar

https://twitter.com/x/status/1297786175227416577

Asad Umar

@Asad_Umar
·

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 compromises our independence and security

 

[Falcon26]

For context:

https://twitter.com/x/status/1297963207382970368

https://twitter.com/x/status/1297963210017054721

 

[Mrc]

yes . one solution at time.

exports are actually now edging upwards after covid fall and hopefully will continue

 

[Homo Sapiens]

Pakistan ran a current account surplus of 424 million $ in July - Asad umar

https://twitter.com/x/status/1297786175227416577

Asad Umar
@Asad_Umar
·

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 compromises our independence and security

This is a very encouraging news. Economically stable and powerful Pakistan is the interest of Bangladesh and wider Muslim world. I am tired of hearing economic malaises of Pakistan for over a decade now and all those Indians mocking about it. Pakistan doing economically better than India would be an epic slap on the face of Sanghi scum.

 

[volatile]

There are ways of looking at it Financial deficit at all time high ,LSM negative ,GDP negative it means Imports are negative which means RM is not imported .Govt revenues are not increasing so this man will definitely make sure PTI fall with his blunders

 

[Bilal.]

There are ways of looking at it Financial deficit at all time high ,LSM negative ,GDP negative it means Imports are negative which means RM is not imported .Govt revenues are not increasing so this man will definitely make sure PTI fall with his blunders

All you mentioned are for last fiscal year with corona. The news is of July 2020, LSM has boomed, fiscal deficit is in control and revenue has beaten the target by around Rs 50 billion.

 

[VCheng]

Why government allows more imports than exports? Why they don't ban imports?

If only it were that easy. What would you propose as the alternatives for energy imports, and the imported components of the inputs required to produce exports?

 

[KaiserX]

This is a very encouraging news. Economically stable and powerful Pakistan is the interest of Bangladesh and wider Muslim world. I am tired of hearing economic malaises of Pakistan for over a decade now and all those Indians mocking about it. Pakistan doing economically better than India would be an epic slap on the face of Sanghi scum.

Indians are a funny breed of homo sapiens.... 85% of history since 1947 Pakistan has had better economic growth, and per capita income than india. Not just that we have far more equal distribution of income. Things have been getting better especially the last 2 months.

India was mocking Pakistan in the beginning of the corona pandemic when we had the most cases in south asia. Now india has surpassed USA, Brazil, Russia to become the final world epicenter of covid-19. The center of the pandemic is very unlikely to switch from India now due to its high concentration of slums in cities like mumbai, delhi, etc... At least India is #1 globally in something now.

 

[Jazzbot]

When was the last time we recorded current account surplus in a month?

 

[alibaz]

For context:

https://twitter.com/x/status/1297963207382970368

https://twitter.com/x/status/1297963210017054721

There is no solution for this twitter guy, who fails to appreciate if something good has happened. He is trying to find bones in a ****. Although this is just first month and we have just come out of Covid 19, its time to appreciate our small successes to gain motivation. Buckup Pakistan.

 

[RIP Pak LAW]

There is no solution for this twitter guy, who fails to appreciate if something good has happened. He is trying to find bones in a ****. Although this is just first month and we have just come out of Covid 19, its time to appreciate our small successes to gain motivation. Buckup Pakistan.

His assessment is biased. Exports did declined from March - May because of Covid which he intentionally ignored while at the same time he explicitly mentioned about the decrease in petroleum prices which resulted in major import cut. Either talk with complete picture in mind or better not to speak if want to become a credible source of information. Though imports will rise again as construction industry has started taking pace and major work has started at Bhasha and Momand Dam sites. Also exports have improved as well in the month of july.

 

[RIP Pak LAW]

When was the last time we recorded current account surplus in a month?

4 times in the last one year or so.

 

[CrazyZ]

For context:

https://twitter.com/x/status/1297963207382970368

https://twitter.com/x/status/1297963210017054721

Country is not out of the woods but part of this reduction in oil imports is due to the expansion of indigenous energy production.....This will only continue. Exports have had a robust recovery and hopefully will also continue their upward march. Surge in remittances may drop off in the future. If we continue to preform well, foreign investors will take note and FDI should increase as well.

 

[Falcon26]

There is no solution for this twitter guy, who fails to appreciate if something good has happened. He is trying to find bones in a ****. Although this is just first month and we have just come out of Covid 19, its time to appreciate our small successes to gain motivation. Buckup Pakistan.

Uzair is a very smart guy but unfortunately clouded by his strong bias which affects his judgment. Some of his views border the conspiratorial but I enjoy his tweets on Pakistan’s economy. I think he raises some valid points in that thread.

 

[volatile]

All you mentioned are for last fiscal year with corona. The news is of July 2020, LSM has boomed, fiscal deficit is in control and revenue has beaten the target by around Rs 50 billion.

this is one month data lets wait for 2 quaters to see where it is going ,Also if i take your assumption for July alone .we have collected 243 Billion Rupees and our expenses were 583 Billion Approx according to budgeting document of 7 Trillion expense per annum .So we end up having deficit financial of closed to 350 Billion or 2.7 Billion US$ .