The current account deficit in the first two months of this fiscal year has widened to almost half of the entire deficit of FY14.
The State Bank of Pakistan reported yesterday that the current account gap for July-August FY15 widened to $1.372 billion compared to $580m in the same period last year. In FY14, the total deficit was $2.971 billion.
The last month was slightly better than July as deficit declined to $599m compared to $773m in July. However, the trend shows that the current account deficit could be a serious problem for a government already facing an extraordinarily large number of challenges on both the economic and political fronts.