WEB DESK: Prime Minister Shehbaz Sharif expressed his satisfaction on Tuesday as Pakistan recorded a remarkable $729 million current account surplus in November 2024, marking the highest surplus in a decade.
This achievement reflects the government’s ongoing efforts to manage the country’s economic challenges and signals a positive shift in the national financial sector.
“Following the latest data released by the State Bank of Pakistan (SBP), this surplus figure for November follows two consecutive monthly surpluses: that of $349 million in October and only $86 million in September” as per PTV report, which added that the surplus was the maximum recorded since 2015.
The $729 million surplus is also the current account surplus of $944 million for the first five months of the fiscal year, far better than the $1.68 billion deficit for the same period last year. This turnaround is primarily attributed to the policies of the federal government that reduced imports and steadied the economy.
In a press statement issued in the PM House, Prime Minister Shehbaz Sharif described the achievement as “extremely encouraging” for the national economy. He stated that the surplus was clear evidence of the government’s successful economic policies, particularly the reduction in the policy rate by the SBP, gradual drop in inflation, and consistent rising levels of current account surplus.
According to the Prime Minister, this success will leave Pakistan in a better position on the international economic market with confidence from local and foreign investors in the country increasing.
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