The current account deficit widens further in Q2 2019

SOUTH AFRICA - Report 05 Sep 2019 by Iraj Abedian

Earlier this week, the South African economy escaped a technical recession in the second quarter of 2019 when the real GDP growth numbers showed an increase of 3.1% q/q. However, today, the South African Reserve Bank released the current account of the balance of payments data, indicating yet another widening of the current account deficit. The deficit widened by R60.5 billion to R204.1 billion from R143.5 billion in the first quarter. As a percentage of GDP, the current account deficit deteriorated to 4% in the second quarter from 2.9% in the first quarter of 2019, the highest level recorded since the first quarter of 2018.​

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