Pakistan’s current account balance posted a deficit of $270 million in May 2024, according to data released by the State Bank of Pakistan (SBP) on Friday.
The current account balance posted a surplus of $499 million in the previous month i.e. April 2024 while the current account balance posted a surplus of $155 million in the same month of the previous fiscal year i.e. May 2023.
During the eleven months of the current fiscal year (11MFY24), the current account balance posted a deficit of $464 million, a significant improvement on the current account deficit of $3.7 billion posted during the same period of the previous fiscal year.
Pakistan’s current account posted a deficit in the opening five months of the current fiscal year (FY24) i.e. July-Nov FY24. However, December saw the current account turn green. This was short-lived as the country posted a deficit of $303 million in January.
May’s deficit is the first in four months. The current account was green in February, March, and April 2024.
The post Pakistan’s Current Account Turns Red With Deficit of $270 Million in May appeared first on ProPakistani.
