ISLAMABAD -- Federal Minister for Economic Affairs Hammad Azhar has released the latest statistics of the national economy that showed the reduction of current account deficit up to 73 per cent, media reported on Friday.
Hammad Azhar, in his Twitter messages, said that the country is brought out of economic crisis following the efforts of Prime Minister Imran Khan. He added that the International Monetary Fund (IMF) also reported the success of economic reformations in Pakistan.
The minister said that the nation suffered worst economic management in previous tenures which led the country to be listed in negative level by Moody's. The effective measures of the present government regained the country's reputation besides reducing current account deficit up to 73 per cent.
According to the statistics, the fiscal deficit which stood at $1166 million in November 2018 has dropped to $319 million in November 2019. The deficit recorded at $6733 million from July 2018 to November 2018 was reduced to $1821 million in 2019.
He added that the export rate has witnessed an increase of 11 per cent in the month of November this year.
Azhar has also retweeted a message from IMF, saying that 'Pakistan's economic stabilization and reform program is on track. Strong ownership by the authorities and steadfast reform implementation are critical to entrench macroeconomic stability and support robust and balanced growth.'