KARACHI, July 16 (Reuters) - Pakistan's current account swung back into deficit in June, but the overall deficit for the 2008/09 fiscal year narrowed by over a third compared with a year earlier, the central bank said on Thursday.
The current account recorded a deficit of $635 million in June compared with a revised surplus of $283 million in May, data from the State Bank of Pakistan showed.
Analysts said higher imports of oil products, in anticipation of rising fuel prices, were probably behind the fall back into deficit.
Still, the deficit for the fiscal year that ended on June 30 fell to a provisional $8.861 billion, down from a revised $13.866 billion the previous year.
Pakistan entered a $7.6 billion emergency International Monetary Fund (IMF) programme late last year to avert a balance of payments crisis.
The full-year deficit is now equivalent to about 5.4 percent of gross domestic product (GDP).
For more on this article, please click on the following link: Pakistan's current account deficit narrows in 2008/09: Forbes
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