Sharp growth in Pakistan surplus

PAKISTAN - Pakistan's current account surplus in the past financial year (July-June) soared to a record $2.74bn (€2.79bn, £1.77bn), up from $326m the year before, officials at the central bank in Karachi said Monday.

The spectacular improvement was largely the result of a sharp escalation in remittances from overseas as well as assistance from the US and other industrialised countries in recognition of Pakistan's support of the war on terrorism.

Pakistan's remittances swelled to $2.4bn, or almo

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