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 KARACHI: Pakistan's economy is showing signs of improvement and economic recovery will require less foreign financing than estimated.

Experts say that the total foreign financing required for the current financial year is estimated at 32 billion dollars, which is much higher than earlier. In the same sense, the Kurnat account deficit is also predicted to be 8.7 billion dollars instead of 10 to 15 billion dollars.

In the comprehensive report published by Topline Securities on the economic scenario of Pakistan last Monday, it was stated that there are positive signs on the economic scenario. However, the report estimates economic growth at 3.8 percent, below the government's target of 5 percent. Topline Securities estimates the current account deficit to be $8.7 billion (2.3 percent of GDP).

It should be noted that the current account deficit was 17.4 billion dollars in the last financial year.

One reason for the current account deficit will be a reduction in the services deficit, which is estimated to be 25 percent lower this year compared to the previous fiscal year. However, the report states that exports will decline to $30 billion, while remittances will remain at $32 billion.