Pakistan’s current account deficit (CAD) hit a two-year low of $74 million in a month, narrowly failing to turn the country’s deficit into surplus in February.
The government achieved a significantly low deficit through limiting imports to manage with low foreign exchange reserves and high risk of default on foreign debt repayments.
The low imports, however, slowed down economic activity next to nil and left millions of people jobless in the country.
The State Bank of Pakistan (SBP) reported on Monday that “the current account deficit (was) recorded at $0.1 billion in February 2023 against a deficit of $0.5 billion in February 2022.
