ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday expressed satisfaction over the country’s attainment of a record current account surplus of $729 million in November, marking the highest figure in 10 years.
The current account posted a third straight monthly surplus in October, reflecting consistency in the government’s policy to restrict imports.
According to the State Bank of Pakistan (SBP)’s data, the country had witnessed a $349m surplus in October compared to $86m in September. The SBP data said that the $729m November surplus was the highest since 2015.
Lauding the development, the prime minister, in a press statement, said that “for the first time in 10 years, Pakistan’s current account surplus reaching $729m in November 2024 is extremely encouraging for the national economy.” He highlighted that the cut in the policy rate by SBP, the gradual decline in the inflation rate and the increase in the current account surplus were “clear evidence” of the government’s positive economic policies.
“Pakistan’s position in the international economic market will strengthen with a record increase in the current account surplus,” he added. He noted that the increase in current account surplus would also increase local and foreign investor confidence in the economy.
Prime Minister also appreciated Finance Minister Muhammad Aurangzeb, Minister of State for Finance Ali Pervaiz Malik and the government’s economic team for their efforts in turning things around.
Copyright Business Recorder, 2024
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