It is a matter of deep concern for everyone that the country's external account continues to deteriorate as it has posted a record current account deficit of about $ 16 billion during the first 11 months of current fiscal year (FY18).
Media reports quoting State Bank of Pakistan says that current account deficit soared to 43 percent during the first 11 months of this fiscal year. The country's current account deficit reached historical level of $15.961 billion in July-May of FY18 compared to $11.14 billion in the same period last year (FY17), depicting an increase of $4.82 billion.
There is therefore no doubt about the fact that the country will miss current account target as current account deficit will be 4 to 5 percent of GDP by end of this fiscal year against the target of 2.6 percent.
The question is: what the Caretakers can do during their very brief period of stay. Their hands are tied as they cannot go beyond their mandate. The PML-N government has certainly bequeathed a fragile economy to the Caretakers. There is no solution in sight.
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