PM Imran announces current account surplus of $424mn

ISLAMABAD: Prime Minister Imran Khan tweeted on Monday that after recording a deficit over the past couple of years, the current account has recorded a surplus of $424mn for the month of July.

“MashaAllah Pakistan’s economy is on the right track. After current account balance posted deficit of $613 mn in July 2019 & a deficit of $100 mn in June 2020, in July 2020 current account balance swung upwards to a surplus of $424 mn,” he tweeted.

MashaAllah Pakistan's economy is on the right track. After current account balance posted deficit of $613 mn in July 2019 & a deficit of $100 mn in June 2020, in July 2020 current account balance swung upwards to a surplus of $424 mn.

— Imran Khan (@ImranKhanPTI) August 24, 2020

PM Imran made it clear that the surplus was due to sound economic policies by the government, which included an increase in exports and record increase in remittances.

“This strong turnaround is a result of continuing recovery in exports, which rose 20 % compared to June 2020, & record remittances,” he tweeted.

This strong turnaround is a result of continuing recovery in exports, which rose 20 % compared to June 2020, & record remittances.

— Imran Khan (@ImranKhanPTI) August 24, 2020