Recently, the Prime Minister reportedly lauded economic performance with regard to country achieving current account surplus. In a developing country, which is facing gross external financing requirements on average of around $20 billion annually over the medium-term, and which is highly debt distressed this may be called a positive consequence for the economy, but only at the surface.

Go any deeper, it spells more problems for the economy than it brings a happy news for, especially in terms of creating economic growth consequences and much-needed greater spending towards meeting sustainable development goals (SDGs), and overall, climate change-, and ‘Pandemicene’ phenomenon-related economic resilience. Moreover, overall balance of payments (BOP) – which is composed of current account, capital account, and financial account – remained in the negative anyways, with a deficit over FY25 standing at US$3.7 billion while the deficit, in fact, increased by $877 million from FY24.

Hence, while reportedly the PM attributed this surplus to be ‘Driven by record remittances, rising exports, and a laser focus on structural reforms…’ none of the claims provides the needed stable foundations for this surplus which, during July-June 2024-25, stood at US$2.1 billion. Starting with exports, for June 2025, year-on-year (y-o-y) exports declined by US$81 million while y-o-y there was only a moderate increase in exports during July-June 2024-25, which stood at........

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