Economy sees record $729m current account surplus in Nov

ISLAMABAD: The nation’s economy recorded an impressive current account surplus of $729 million (equivalent to 72.9 crore dollars) in November, representing the second-highest surplus since July 2013.

This progress in the current account balance is credited to the efforts of the Special Investment Facilitation Council and a rise in foreign exchange reserves.

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For the first five months of the current fiscal year, the current account surplus is approaching $1 billion. Additionally, remittances have increased significantly, supported by strict measures against illegal currency trading.

Total remittances are projected to reach $35 billion by the fiscal year 2025. Furthermore, exports have seen a $1 billion growth, with service exports amounting to $3.276 billion.