The first five months of the current fiscal year have witnessed the balance of payment (BoP) at the loss of Rs 195 billion.
However, in the same period of the last fiscal year, the Balance of Payment was on the positive side with Rs 106.48 billion profit/savings. The data released by the central bank on the current and financial condition of the country on Thursday shows the current account of the five months also at the loss of Rs 300.39 billion.
In the same period of the last year, the current account was at a loss of only Rs 23 billion. Similarly, the foreign exchange reserve has also declined in the five months.
It is now Rs 1214 billion. Trade loss at Rs 335 billion The commodity trade loss is recorded at the loss of 54 percent in the last five months reaching Rs 749 billion. Similarly, the import is increased by 59 percent. The five-month report has shown negative progress in other indicators as well.
Inflation rose by 7.11 percent against the NRB’s aim of containing it within 6.5 percent. The inflation in the same period of last fiscal year was 2.93 percent. The deposit in banks and financial institutions increased by 1.5 percent while it was 6.5 percent last fiscal year.
