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Pakistan's Central Bank Allays Concerns Over Widening Deficits

  • Deputy Govenor Ahmad says export decline has bottomed out
  • Pakistan’s currency is at appropriate level: deputy governor
The State Bank of Pakistan, the country’s central bank, in Karachi.

The State Bank of Pakistan, the country’s central bank, in Karachi.

Photographer: Asim Hafeez/Bloomberg 

Pakistan central bank Deputy Governor Jameel Ahmad played down concerns over the nation’s widening current account and trade deficits and said they will improve this year as exports begin to pick up and rising imports slow.

“There are challenges in the form of a growing trade deficit and also its impact on the current account deficit, but when you look at the recent trends I think things are moving decently,” Ahmad said in an interview. “We are comfortable that during the current fiscal year given the expected inflows, given the level of remittances, given the trend in imports and exports, the economy will be stable based on these.”