SBP Governor credits remittances for reserve build-up, lowest current account deficit

September 18, 2026 (MLN): State Bank of Pakistan (SBP) Governor Jameel Ahmad said the sustained flow of remittances from overseas Pakistanis has helped the country achieve its lowest current account deficit  and rebuild foreign exchange reserves.

He was addressing the Pakistani diaspora at the RDA & Remittance Roadshow in London, where he appreciated the continued contribution of overseas Pakistanis toward the country's external account position.

The Governor noted that remittances have consistently increased over the years, with the country receiving $41.6bn last year, the highest level recorded to date.

For the current fiscal year, the SBP expects remittances to rise further to $44bn.

If achieved, this would allow the current account deficit to be maintained within a range of 0-1% of GDP.

Pakistan's current account deficit narrowed sharply to $98 million in August, its smallest monthly shortfall since April, as a fresh wave of remittance inflows offset a stubbornly wide trade gap.

Workers' remittances came in at $3.66 billion for August, up 16.5% from $3.14 billion a year earlier, and marginally higher than July's $3.63 billion. Inflows have now stayed above $3.4 billion in eleven of the last thirteen months.

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