By Staff Report
ISLAMABAD: Federal Minister for Information and Broadcasting Shibli Faraz on Tuesday said that the country was heading toward economic stability owing to the effective policies of the government, media reported.
Addressing a press conference following a cabinet meeting, Shibli Faraz said that the government has managed to reduce the current account deficit from $20 billion to$3 billion. He maintained that fiscal deficit stood at 8.1 per cent and foreign exchange reserves held by the State Bank of Pakistan increased to $12.5 billion.
Due to the government’s effective economic policies, Moody’s confirmed Pakistan’s B3 credit rating with a stable outlook, Faraz added.
