Pakistan’s current account deficit increases by 100 percent

Pakistan’s current account deficit is on the rise, the figures show an increase of 100 percent during the period July-October as compared to previous year. This shows poor financial management and incompetency in handling accounts of the country.

According to the report released by State Bank of Pakistan SBP on Monday which covers the figures of Pakistan current accounts shows an increase of deficit by 100 percent during the period of July-Oct 2017.

SBP says current account deficit increases from $2.25 billion to $5 billion during the period under review as compared to the same corresponding period last year. This clearly shows poor financial management by the government, apathy, and incompetence in managing country’s finances.

Not only current account deficit, Pakistan’s trade deficit is continuously widening during the current fiscal year 2018. Both current accounts deficits and trade deficits heavily rely on the policies and planning of finance ministry of the country which seems to be inert and not taking any fruitful measures in order to improve the financial management in the country.