Pakistan's current account deficit plunges 86% to 19-month low

[FOOLS_NIGHTMARE]

• Pakistan posted deficit of $276 million in November, SBP data shows.
• CAD drops amid softer global commodity prices, strict import controls.
• SBP deficit will remain below $10 billion for the current fiscal year.

KARACHI: Pakistan’s current account deficit narrowed by 86% year-on-year in November falling to a 19-month low, the State Bank of Pakistan's (SBP) data showed Friday, as strict controls, economic slowdown, and softer global commodity prices helped decrease imports, , according to The News.

The country posted a deficit of $276 million in November compared to $1.929 billion recorded in the same month of the previous year. On a month-on-month basis, the deficit declined by 51% compared to $569 million in October.

Total imports fell 33% to $4.26 billion in November, while exports also dropped 18% to $2.23 billion.

“It’s [the contraction in the current account gap] mainly due to a fall in the trade deficit,” said Fahad Rauf, head of research at Ismail Iqbal Securities. Import reduction had mainly come from lower petroleum imports (benefit of lower global prices), and the absence of wheat imports, he added.

https://twitter.com/x/status/1603763606172176384

During July-November, the current account deficit has contracted by more than half to $3.1 billion against $7.2 billion in the same period last year, with imports falling by $4.8 billion (-16%) and exports broadly unchanged, the SBP shared on Twitter.

The SBP’s foreign reserves have dropped to $6.7 billion, hardly enough for a month's worth of imports, putting the country in the midst of a balance of payments crisis.

While it struggles to obtain the dollars to pay off a mountain of foreign debt, the government is attempting to restart a rescue from the International Monetary Fund (IMF).

Saudi Arabia is being requested to provide urgent financial help to the government.

The SBP expects the deficit will remain below $10 billion for the current fiscal year 2022-23, mainly on a decrease in the price of petroleum products in the global market.

Besides, the SBP has also taken policy actions that will reduce some outflows significantly.

Analysts see the deficit to be $7.8 billion or 2.1% of the gross domestic product in FY23, led by the central bank’s administrative measures, demand contraction, and reduction in global oil prices.

The benefit of the decreased imports, however, will be lessened by a decline in remittances, a decline in textile and food exports, and a slowdown in the momentum of IT exports.

The continuance of the IMF programme is essential in the upcoming quarter as it will permit macroeconomic stability and open up external financing from other sources.

In FY23, new funding from Saudi Arabia and rollovers of Chinese deposits and loans could pay for the external requirement, according to analysts.

Pakistan's current account deficit plunges 86% to 19-month low

Pakistan posted deficit of $276 million in November, SBP data shows.CAD drops amid softer global commodity prices, strict import controls.SBP deficit will remain below $10 billion for the current fiscal year.

www.geo.tv

CAD shrinks to $3.1bn in July-November

SBP says the decline is mainly due to a fall in imports by $4.8bn (16pc), while exports broadly remain unchanged.

www.dawn.com

 

[Crimson Blue]

.......... because Dar & co. is blocking LCs.

No economic activity allowed, hence no imports; new chapter in Darnomics.

 

[hydrabadi_arab]

Dar the bastard will ruin Pakistan economy. His fixed rate is responsable for decline of $500m remmitances last month, along with maybe $300m exports. Thats $800m lost because of darnomics.

People have reduced sending money through official channels.

 

[The Accountant]

• Pakistan posted deficit of $276 million in November, SBP data shows.
• CAD drops amid softer global commodity prices, strict import controls.
• SBP deficit will remain below $10 billion for the current fiscal year.

KARACHI: Pakistan’s current account deficit narrowed by 86% year-on-year in November falling to a 19-month low, the State Bank of Pakistan's (SBP) data showed Friday, as strict controls, economic slowdown, and softer global commodity prices helped decrease imports, , according to The News.

The country posted a deficit of $276 million in November compared to $1.929 billion recorded in the same month of the previous year. On a month-on-month basis, the deficit declined by 51% compared to $569 million in October.

Total imports fell 33% to $4.26 billion in November, while exports also dropped 18% to $2.23 billion.

“It’s [the contraction in the current account gap] mainly due to a fall in the trade deficit,” said Fahad Rauf, head of research at Ismail Iqbal Securities. Import reduction had mainly come from lower petroleum imports (benefit of lower global prices), and the absence of wheat imports, he added.

https://twitter.com/x/status/1603763606172176384

During July-November, the current account deficit has contracted by more than half to $3.1 billion against $7.2 billion in the same period last year, with imports falling by $4.8 billion (-16%) and exports broadly unchanged, the SBP shared on Twitter.

The SBP’s foreign reserves have dropped to $6.7 billion, hardly enough for a month's worth of imports, putting the country in the midst of a balance of payments crisis.

While it struggles to obtain the dollars to pay off a mountain of foreign debt, the government is attempting to restart a rescue from the International Monetary Fund (IMF).

Saudi Arabia is being requested to provide urgent financial help to the government.

The SBP expects the deficit will remain below $10 billion for the current fiscal year 2022-23, mainly on a decrease in the price of petroleum products in the global market.

Besides, the SBP has also taken policy actions that will reduce some outflows significantly.

Analysts see the deficit to be $7.8 billion or 2.1% of the gross domestic product in FY23, led by the central bank’s administrative measures, demand contraction, and reduction in global oil prices.

The benefit of the decreased imports, however, will be lessened by a decline in remittances, a decline in textile and food exports, and a slowdown in the momentum of IT exports.

The continuance of the IMF programme is essential in the upcoming quarter as it will permit macroeconomic stability and open up external financing from other sources.

In FY23, new funding from Saudi Arabia and rollovers of Chinese deposits and loans could pay for the external requirement, according to analysts.

Pakistan's current account deficit plunges 86% to 19-month low

Pakistan posted deficit of $276 million in November, SBP data shows.CAD drops amid softer global commodity prices, strict import controls.SBP deficit will remain below $10 billion for the current fiscal year.

www.geo.tv

CAD shrinks to $3.1bn in July-November

SBP says the decline is mainly due to a fall in imports by $4.8bn (16pc), while exports broadly remain unchanged.

www.dawn.com

Mr. Stupid imports r down because we dont have money to even import ... Its like celebratong reduction in expenses when u dont have money to go to office ... Yes u saved petrol but it means u didnt earn anything to eat as well ...

People like u will answerable to Allah for making mockery of people getting jobless and sleeping hungry ...

May Allah give u hidayat

 

[Crimson Blue]

This is the cost of the reduced CAD:

 

[Dalit]

Good. More economic misery should be on its way. No pity for losers.

 

[Kambojaric]

"Pakistan's current account deficit plunges 86% to 19-month low"

"The government took credit for narrowing down the CAD but analysts pointed towards the declining economic growth"

Seriously the last place doucebag meme is the most relevant description of this group of ignorant nincompoops led by the biggest clown Dar.

 

[RealNapster]

• Pakistan posted deficit of $276 million in November, SBP data shows.
• CAD drops amid softer global commodity prices, strict import controls.
• SBP deficit will remain below $10 billion for the current fiscal year.

KARACHI: Pakistan’s current account deficit narrowed by 86% year-on-year in November falling to a 19-month low, the State Bank of Pakistan's (SBP) data showed Friday, as strict controls, economic slowdown, and softer global commodity prices helped decrease imports, , according to The News.

The country posted a deficit of $276 million in November compared to $1.929 billion recorded in the same month of the previous year. On a month-on-month basis, the deficit declined by 51% compared to $569 million in October.

Total imports fell 33% to $4.26 billion in November, while exports also dropped 18% to $2.23 billion.

“It’s [the contraction in the current account gap] mainly due to a fall in the trade deficit,” said Fahad Rauf, head of research at Ismail Iqbal Securities. Import reduction had mainly come from lower petroleum imports (benefit of lower global prices), and the absence of wheat imports, he added.

https://twitter.com/x/status/1603763606172176384

During July-November, the current account deficit has contracted by more than half to $3.1 billion against $7.2 billion in the same period last year, with imports falling by $4.8 billion (-16%) and exports broadly unchanged, the SBP shared on Twitter.

The SBP’s foreign reserves have dropped to $6.7 billion, hardly enough for a month's worth of imports, putting the country in the midst of a balance of payments crisis.

While it struggles to obtain the dollars to pay off a mountain of foreign debt, the government is attempting to restart a rescue from the International Monetary Fund (IMF).

Saudi Arabia is being requested to provide urgent financial help to the government.

The SBP expects the deficit will remain below $10 billion for the current fiscal year 2022-23, mainly on a decrease in the price of petroleum products in the global market.

Besides, the SBP has also taken policy actions that will reduce some outflows significantly.

Analysts see the deficit to be $7.8 billion or 2.1% of the gross domestic product in FY23, led by the central bank’s administrative measures, demand contraction, and reduction in global oil prices.

The benefit of the decreased imports, however, will be lessened by a decline in remittances, a decline in textile and food exports, and a slowdown in the momentum of IT exports.

The continuance of the IMF programme is essential in the upcoming quarter as it will permit macroeconomic stability and open up external financing from other sources.

In FY23, new funding from Saudi Arabia and rollovers of Chinese deposits and loans could pay for the external requirement, according to analysts.

Pakistan's current account deficit plunges 86% to 19-month low

Pakistan posted deficit of $276 million in November, SBP data shows.CAD drops amid softer global commodity prices, strict import controls.SBP deficit will remain below $10 billion for the current fiscal year.

www.geo.tv

CAD shrinks to $3.1bn in July-November

SBP says the decline is mainly due to a fall in imports by $4.8bn (16pc), while exports broadly remain unchanged.

www.dawn.com

So Pakistan is importing stuff ???? Na Kar. Really ? Media ne aeve pir propaganda start Kia Hua Hy Kay Lacs ni ban rahy 150 textile mills band ho Gaye sugar import ban krdo gye. Urea Kay jahazo ko langar-a daaz ni hone dia jaa Raha.

 

[villageidiot]

• Pakistan posted deficit of $276 million in November, SBP data shows.
• CAD drops amid softer global commodity prices, strict import controls.
• SBP deficit will remain below $10 billion for the current fiscal year.

KARACHI: Pakistan’s current account deficit narrowed by 86% year-on-year in November falling to a 19-month low, the State Bank of Pakistan's (SBP) data showed Friday, as strict controls, economic slowdown, and softer global commodity prices helped decrease imports, , according to The News.

The country posted a deficit of $276 million in November compared to $1.929 billion recorded in the same month of the previous year. On a month-on-month basis, the deficit declined by 51% compared to $569 million in October.

Total imports fell 33% to $4.26 billion in November, while exports also dropped 18% to $2.23 billion.

“It’s [the contraction in the current account gap] mainly due to a fall in the trade deficit,” said Fahad Rauf, head of research at Ismail Iqbal Securities. Import reduction had mainly come from lower petroleum imports (benefit of lower global prices), and the absence of wheat imports, he added.

https://twitter.com/x/status/1603763606172176384

During July-November, the current account deficit has contracted by more than half to $3.1 billion against $7.2 billion in the same period last year, with imports falling by $4.8 billion (-16%) and exports broadly unchanged, the SBP shared on Twitter.

The SBP’s foreign reserves have dropped to $6.7 billion, hardly enough for a month's worth of imports, putting the country in the midst of a balance of payments crisis.

While it struggles to obtain the dollars to pay off a mountain of foreign debt, the government is attempting to restart a rescue from the International Monetary Fund (IMF).

Saudi Arabia is being requested to provide urgent financial help to the government.

The SBP expects the deficit will remain below $10 billion for the current fiscal year 2022-23, mainly on a decrease in the price of petroleum products in the global market.

Besides, the SBP has also taken policy actions that will reduce some outflows significantly.

Analysts see the deficit to be $7.8 billion or 2.1% of the gross domestic product in FY23, led by the central bank’s administrative measures, demand contraction, and reduction in global oil prices.

The benefit of the decreased imports, however, will be lessened by a decline in remittances, a decline in textile and food exports, and a slowdown in the momentum of IT exports.

The continuance of the IMF programme is essential in the upcoming quarter as it will permit macroeconomic stability and open up external financing from other sources.

In FY23, new funding from Saudi Arabia and rollovers of Chinese deposits and loans could pay for the external requirement, according to analysts.

Pakistan's current account deficit plunges 86% to 19-month low

Pakistan posted deficit of $276 million in November, SBP data shows.CAD drops amid softer global commodity prices, strict import controls.SBP deficit will remain below $10 billion for the current fiscal year.

www.geo.tv

CAD shrinks to $3.1bn in July-November

SBP says the decline is mainly due to a fall in imports by $4.8bn (16pc), while exports broadly remain unchanged.

www.dawn.com

Medicines ki import tak to band kr di he. ab bhi CAD kam na hota to doob kr mar jate. But i have a feeling it's too much to ask of you.

 

[ghazi52]

Nice going...

 

[Flight of falcon]

Ulloo ke pathe there is no reason to celebrate …. Idiot our remittances, exports , investments everything is dropping rapidly along with the imports of raw materials because we have no money to pay.
It should be a crime for Patwaris to be born and let them live especially people like @FOOLS_NIGHTMARE