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Current account deficit shrinks 73 percent in July-November

KARACHI: Current account deficit shrank 73 per cent in the first five months of the current fiscal year, while exports posted a marginal growth, the State Bank of Pakistan (SBP) said on Thursday.

The current account deficit reduced to $1.821 billion in July-November FY20, from $6.733 billion a year earlier, the SBP said.

The turnaround was largely due to the fall in imports that has accompanied sharp slowdown in growth after the currency devaluation and a gradual increase in interest rates, which sent shockwaves through the economy.



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