Due to ongoing floods and torrential rains in the country, the trade deficit is likely to increase by $3 billion.
According to the Ministry of Finance, the production of vegetables, fruits, tobacco, cement, and leather products has been severely affected due to floods, which will reduce exports, adding that the trade deficit is likely to increase by 3 billion dollars due to a decrease in exports and an increase in imports.
Finance Ministry sources said that in order to achieve the export target, immediate and concrete measures are needed at the government level for the export sector, and new markets for exports in the European Union and the United States will have to be found.
It is pertinent to mention that in the budget of the current financial year, the target set for exports is $35 billion.
