November 4, 2022 (MLN): Pakistan’s current account deficit during the FY23 is likely to clock in at 4.7% of the GDP owing to the higher financing needs in lieu of the damage caused by the floods, the Institute of International Finance (IIF) said in its capital flows tracker issued on Friday.
“In Pakistan, recent floods have raised financing needs. We expect the current account deficit to widen to 4.7% of GDP in the current FY 2022/23….