Despite high foreign inflows from various sources, the current account deficit of the country rose to about $3 billion for the fiscal year 2014, which is significantly higher than last year.
A report on current account issued by the State Bank on Monday revealed that rising imbalances on every front pushed up the deficit despite very high inflows during the year.
Foreign investment in the said year was a record in five years as it hit a figure of $4.3bn, helping the central bank to boost foreign exchange reserves to over $9bn from $2.5bn a year ago.
Despite all these positive developments on external fronts, the massive trade imbalance persisted, forcing the current account to face a deficit of $2.925bn in FY14.
