Islamabad: Pakistan’s Current Account recorded an unprecedented monthly surplus in March, reaching 1.19 billion dollars. This marks a 229 percent increase compared to the same period last year.
According to Radio Pakistan, a statement from Khurram Schehzad, Advisor to the Finance Minister, revealed that the surplus in March 2024 was 363 million dollars, as reported by the State Bank of Pakistan.
The cumulative surplus in the country’s Current Account for the first nine months of the current fiscal year now totals 1.86 billion dollars. This is a significant turnaround from the previous year’s deficit of 1.65 billion dollars for the same period.
With declining oil prices and remittances continuing to hit record levels, Pakistan’s Current Account is anticipated to remain in substantial surplus by June. This trend is expected to persist into the next fiscal year, potentially boosting overall investor confidence.