Foreign Investment records 77pc drop in FY2023: SBP

Karachi: The State Bank of Pakistan (SBP) report stated that foreign investment has dropped by 77 percent in fiscal year 2023 as compared to FY 2022.

According to SBP, total foreign funds for the fiscal year 2023 totaled US$ 427.1 million, a fall of 77% from the prior fiscal year.

Foreign direct investment (FDI) also fell by 25%.

As per State Bank report, Pakistan's private sector got US$ 1.43 billion in investments from abroad, a 7 percent reduction, and US$ 1.01 billion in investments went to the country's public sector.

Earlier, the total liquid foreign reserves of Pakistan stood at US$13,534.1 million while reserves held by the central bank reached $8,186.1 million.

The State Bank of Pakistan, in a statement issued here on Thursday, informed that SBP’s reserves decreased by US$ 541 million to US$ 8,186.1 million mainly due to external debt repayments during the week ending on July 21, 2023.