Current Account

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Current Account

A detailed financial statement representing the debit and credit relationship between two parties that has not been finally settled or paid because of the continuous, ongoing dealings of the parties.

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The finance ministry is predicting a negligible current account deficit at the end of the tenure of Pakistan Tehrik-i-Insaf government, which will require rapid induction of advanced technologies in the industrial sector; making economic environment favourable with tax and tariff reforms; reducing energy inputs tariffs; and 100 percent increase in savings rate.
LAHORE -- Current account deficit plunged 48% month-on-month (MoM) to $809 million for January compared to $1.544 billion in December last year.
The country's current account deficit during March climbed by 196 per cent month-on-month compared to February, according to latest data released by the State Bank of Pakistan (SBP) on Thursday.
Britain's current account deficit with the world jumped to pounds 12.8 billion last year, the highest since 1990.
Inflows of investment funds therefore push up the dollar--and this, in turn, makes foreign goods more competitive and pushes up the current account deficit.
Foreign investors, banks, and other companies purchased American equities, treasuries, and greenbacks, and invested in the United States (According to a recent Merrill Lynch report, the United States absorbed nearly three-quarters of the savings of the world's major industrial countries in 2002.) This inflow of foreign capital has kept America's current account deficit stable and U.S.
As suggested above, portfolio diversification will prompt a narrowing of the current account deficit: instead, our deficit has widened.
This nation runs current account deficits because it imports more goods than it exports.
The total current account deficit was slightly higher than a widely expected $225 billion, and accounted for 6.8 percent of the nation's gross domestic product in the third quarter, up from 6.6 percent the previous quarter.
So financing a continued PIGS current account deficit of about 100 billion [euro] a year would consume the entire stock of base money within another six or seven years.
LONDON, September 19, 2011 (TUR) -- Turkish Finance Minister Mehmet Simsek has said that Turkey was vulnerable to external shocks because of its high current account deficit. In an interview with the Financial Times, Simsek said, "yes, we have a very large current account deficit and we are concerned about it and I do take on board that a large current account deficit makes us more vulnerable to external shocks.
"The current account deficit can be financed only through foreign inflows," Chidambaram said.