KARACHI: In the first month (July) of the new financial year (2024-25), the current account is facing a deficit of 162 million dollars.
According to the data released by the State Bank, the deficit of July 2024 was 78% lower than that of July 2023. In July 2023, the current account had a deficit of 740 million dollars.
Similarly, compared to June 2024, the deficit of July 2024 was 48% less. In June 2024, the current account deficit was 31.3 million dollars.
Experts say that the current account deficit of July 2024 is more than expected. Due to widening trade deficit, pressure is increasing on the current account.
It is further stated in the data that the trade deficit in July 2024 was 11 percent more than June 2024. In July 2024, the trade deficit was 2.43 billion dollars. In June 2024, the trade deficit was 2.18 billion dollars. Compared to July 2023, the trade deficit of July 2024 was 20 percent more. The trade deficit in July 2023 was $2.02 billion.
