remittances News
Muhammad Aurangzeb expects Pakistan’s current account deficit at 0%-1% this year
Pakistan's twin deficits have fallen to 2.6% of GDP at the end of the last fiscal year (June) from a peak of 12.5%. Foreign exchange reserves have reached a record $21.4bn, Federal Finance Minister Muhammad Aurangzeb said at the 10th Annual Microfinance Conference, organized by the Pakistan Microfinance Network.
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SBP Governor credits remittances for reserve build-up, lowest current account deficit
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.
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