Pakistan's current account surplus hits a 22-year high of $2.1 billion

Pakistan's Prime Minister Muhammad Shehbaz Sharif hailed the increase of current account surplus to $2.1 billion in fiscal year 2024-2025.

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In a statement, he said current account surplus had reached the highest level in last 22 years which was a very positive development.

“Due to government measures, foreign exchange reserves have crossed $19 billion,” he added as quoted by APP.

The prime minister said the main reason for stability in current account surplus was significant increase in remittances and exports, adding with every passing day, improving financial and economic indicators showed that the country's economy was on the path of stability.

“The government is taking priority steps to further improve the business and investor friendly environment in the country,” he remarked.

He said: “The efforts of the government's economic team are commendable.”

Meanwhile Pakistan's consumer price inflation rose 3.2 per cent year-on-year in June, the statistics bureau said on Tuesday, broadly in line with the finance ministry's projection of 3 per cent to 4 per cent issued a day earlier.

On a month-on-month basis, prices increased 0.2 per cent in June, reversing a 0.2 per cent decline in May.

The data comes after Pakistan's central bank kept its key interest rate unchanged at II per cent in June.