The Ministry of Finance has released the monthly financial performance report for the financial year, according to which the economy has improved from July to October this year, the rupee has stabilized against the dollar, and the current account deficit has turned positive after 15 years.
According to the Ministry of Finance’s monthly update outlook report on the national economy, many sectors of the national economy are on the path of improvement. In the first four months of the current financial year, the budget deficit reached Rs 484 billion. Business class, consumer confidence is restored, economic growth is expected to improve.
The report said that remittances from Pakistan increased by 26.5% to 4 9.4 billion. According to a Finance Ministry document, the current account surplus stood at 1.2 billion in the first four months of the fiscal year and the current account balance surplus was 1.3 percent of GDP.
According to the report of the Ministry of Finance, exports declined by 10.3 percent and imports by 4 percent, while the trade deficit increased by 4 percent to 7 6.7 billion. Foreign exchange reserves exceeded 20.55 billion. From July to October, tax revenue stood at Rs 1340 billion and non-tax revenue at Rs 356 billion while government expenditure stood at Rs 1,963 billion.
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