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Sunday, 16 September 2012 - 19:48
Trade deficit declines
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The tight policies adopted by the Government in February this year continued to deliver the expected results according to the latest external sector statistics issued by the Central Bank.

There was a marked deceleration in expenditure on imports by July 2012, and the trade deficit declined by 33.8 percent, year-on-year, to 535 million dollars in July 2012, the lowest recorded in 17 months.

Devaluation of the rupee, interest rate increase and limitation of credit have reduced import demand significantly since April 2012.

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