Pakistan is looking at a current account deficit of 2-3% of the Gross Domestic Product. Informed Reza Bakir, Governor State Bank of Pakistan, while adressing a press conference in islamabad.
He stated that the 2-3% deficit translated into roughly $6.5-9.5 Billion. He said that although people were getting concerned the deficit was sustainable. Such deficits are common with emerging markets like Pakistan’s. Although the current deficit is the first indicator of an upcoming economical crisis. There are currently no alarm bells for Paksitan.
He reflected back on the past years, when the deficit had reached 6% forcing Pakistan to look upto the International Monetary Fund for help.
