The current account deficit continues to record a sustainable improvement, showing a 29 percent drop in the eleven months of the current financial year compared with the similar period of the last financial year. This adds up to a handsome figure of $5.2 billion.
The stability in the current account persisted due to a constant reduction in the import bill and healthy growth in remittances sent by overseas Pakistanis, particularly in the month of May.
According to the State Bank of Pakistan (SBP), the current account decreased to $12.6 billion in the period of July-May this year compared to $17.9 billion recorded in the same period last year.
The current account deficit reduced to $1.08 billion in May compared to $1.24 billion recorded in April. It recorded a comparatively better position in March with deficit values of $822 million and $278 million in the month of February.
The country’s trade deficit fell 12 percent to $29.2 billion in July to May for the financial year 2018-19 compared to $34.2 billion during the same period last year.
The $4.1 billion decline in the trade deficit during the period of July-May is expected to reach $5 billion at the end of the ongoing fiscal year in July as the government’s interventions have helped curb imports of non-essential items meanwhile exports have remained unchanged.
Furthermore, the remittances inflow grew by 28 percent in the eleven months of FY19 crossing the mark of $20 billion. It played a major role in narrowing down the current account deficit.
With one month left to close the financial year, the government’s target to reduce the trade deficit by $6 billion by June is impossible at this stage, however, dragging down the deficit’s position by more than $5 billion is a big deal for the economic managers of the country, who wants the trend to continue in the next financial year until the target is achieved.
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Microsoft Build is our premier developer conference, providing access to cutting-edge technology, the ability to collaborate with peers, and an open door to fresh perspectives. Our goals are to foster community and transparently share our developer roadmap and monetization strategy — which we believe leads to even better collaboration and innovation.
While it maintains its roots of being produced by developers for developers, this year’s event is focused on empowering developers of all kinds, from experienced computer scientists to tech beginners with big ideas we have so much in store! Whether you want to learn a new technology or level up your skills in a certain area, we have you covered. With more than 180 sessions, from developing for accessibility to responsible AI design to building apps for HoloLens, and a gamut of topics in between, class is in session.
Speaking of class, for the first time, attendees are invited to bring two family members ages 14-21 to the event. The brand-new Student Zone is dialed in to provide students access to experts, hands on labs, co-coding opportunities and more. And for the first time, the Imagine Cup World Championship, a strongly contested student developer competition, will open the event!
In the competition spirit, we’re also showcasing eight innovative startups and we invite you to help us determine the “Startups at Microsoft Build: Attendee Choice Award.” Meet these cloud-born founders in person and vote on which startup you feel has the most compelling pitch. To turbo-charge their growth, the winner will be awarded a comprehensive set of go-to-market benefits, valued at more than $1 million USD.
We also have some very exciting news for our partners. We are deepening our investments and will be making several announcements benefiting both our ISV and reseller partners when they leverage our commercial marketplace to collaborate on joint sales. We also have dozens of partners on site at Build with deep dive sessions, hands-on labs, and an exhibition area with a ton of experts on hand.
But that’s not all. We’re weaving wellness and community-focused areas throughout Build as well. Our Hang Out lounge provides a cozy place to recharge between sessions and features a variety of content from our Cloud Advocates and LEAP Program participants. It also plays host to daily popup experiences, including an IoT day and an opportunity to get hands-on with classic Commodore 64s, among other engaging opportunities.
I encourage you to spend some time with the session catalog to craft your ideal schedule. These sessions are created and delivered by the engineers who create our products and provide a great opportunity to connect with them on a personal level. A couple can’t-miss sessions include:
From Zero to DevOps Superhero: The Container Edition
This is not another “Hello World” session with quick tips, but rather a deep dive into how you can truly go from zero to DevOps superhero by selecting container tooling built for simplifying the process. You’ll also learn how these tools can provide better orchestration for cloud services, abstraction and encapsulation for your microservices deployments and visibility into what runs where and why.
Azure IoT platform services: a comprehensive overview
In this demo-heavy session, you will learn what’s available for modern IoT developers. Azure IoT Hub, Device Provisioning Service, Time Series Insight, Azure Maps and Visual Studio Code will all be put to contribution and you won’t believe all that can be achieved in only 60 minutes.
And, we’ll have exciting speakers who were selected from the call for proposals, including this one:
Designing for speech
Designing a natural language interface can be difficult. Is the interface supposed to be able to interpret every single nuance of speech? And how about slang? Or should we aim more towards forced language and make our users learn how to interact with simple commands? According to Comscore, 50% of all searches will be made by voice by 2020. Today, 40% of adults use voice commands at least once per day. Get ready now and your bots and apps will be a delight to talk to!
While we’re hosting the physical event in Seattle, our aim is to make it interactive for those who can’t make it in person as well! Satya Nadella’s opening keynote will be streamed live beginning at 8:30 a.m. Pacific on May 6, and core sessions will be online for free viewing within 24 hours. You can find it all on the Build site.
For those headed to Build, we can’t wait to welcome you to Seattle, to share and collaborate, and to imagine, create and code together!
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