The Advisor to Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh, has said that the government wants to overcome the fiscal and current account deficit to stabilize the economy.
He said that due to effective measures taken by the government, current account deficit has shrunk to $7 billion over the past few months.
The Advisor said this while addressing a Post Budget Conference 2019, “Pakistan Back on Track” in Islamabad. He said that fiscal and current accounts deficits are huge challenges for the government, and the economy can be put on a growth trajectory by incorporating policies to overcome current accounts deficit.
The Advisor said the government had inherited a $20 billion current account deficit and it required Rs. 2000 billion for debt servicing.
Earlier on June 14, the Advisor on Finance had said that good economic policies ensured a strong national economy. The governments in the past had failed to devise policies for lasting economic development, he added.