Current Account Deficit declined by 88% in July FY12

Current Account Deficit declined by 88% in July FY12

Karachi: The Current Account Deficit stood at USD 75 mn in July 2011 against USD 631 mn in July 2010, depicting a decrease of 88% on YoY basis.

According to Alfalah Securities Limited, this decline in Current Account deficit is attributable to a significant cut in import of trade goods, services and income whereas, high foreign inflows including home remittances have helped to narrow the current account deficit. Alfalah Securities Limited

expects current account balance to improve further which would result in stability of Alfalah Securities Limited exchange rates and would also strengthen Alfalah Securities Limited foreign reserves.

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