The last quarter (April-June) of this fiscal year has started with a few key positive indicators that may help the government to reduce the fiscal deficit and keep the inflation within target, said money and banking experts.
The State Bank reported on Tuesday that for the first time in the last three years the net foreign assets of the banking system appeared positive. The net foreign assets till April 18, were Rs79 billion against the negative figure of Rs170bn during the same period of last year.
The foreign assets in FY13 were minus Rs263bn and minus Rs248bn in FY12.
Another important development was the borrowing for budgetary support which fell to almost one third of the amount borrowed by the government during the same period last year.
