Pakistan’s Economic Recovery on Track as Exports and Remittances Grow: Prime Minister

Pakistan’s Prime Minister, Imran Khan has stated that the nation’s economy was on track for recovery, after a surplus of USD 424 million of its July 2020 current account was reported, surging from its June 2020 deficit of USD 100 million.

The July 2020 current account growth is a record 244% year-on-year (YoY) compared to the previous year's deficit of USD 613 million, according to the State Bank of Pakistan (SBP), adding that the current account balance as a percentage of gross domestic product (GDP) posted a surplus of 1.9% in July 2020 as opposed to the 2.8% deficit seen in July 2019.

Khan credited the boom to the continuing strong recovery of exports. The four-month decline of exp...