Karachi: The current account balance deficit continued to widen on every coming months, standing at $2.63 billion in first seven months of the current financial year 2011-12, State Bank of Pakistan (SBP) statistics said.
The current account deficit was stood at deficit stood at $96 million in the same period of last financial year 2010-11, which showed the worrisome situation of external account sector and its pressure on country’s macro-economy.
Pakistan’s trade deficit touched a new record high of $13.17 billion in the first seven months of the current fiscal year, showing a 40 percent jump compared with $9.42 billion in the same period last year.
Despite of the fact the remittance grew to $7.4 billion million in first seven months of FY12 but its inflow could not offset the impact to contain deficit.
In January 2011, the current account was seen steep deficit of $305 million compared with $118 million, showing 158 percent growth.
Analysts said the present situation became tougher for stabilising macro-economic indicators after rupee has continued to lose its value against dollar, which not only enhanced the burden of debt payment but also it swelled the deficit of current account.
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