ECONOMIC WEEK AHEAD: Current account likely to show improvement
Credit ratings agency Moody’s hosts its annual sub-Saharan Africa summit in Johannesburg on Wednesday
SA’s current account is likely to have improved in the second quarter after a contraction in the first quarter, data from the Reserve Bank are expected to show this week. On Thursday, the Bank will release its quarterly bulletin for the second quarter of 2017, and economists expect the current deficit to narrow slightly. First National Bank economist Mamello Matikinca said: "Import compression, slightly better export growth and consecutive trade surpluses are likely to be partially offset by higher current transfers. "The terms of trade have likely already peaked, and a recovery in domestic consumption is expected to result in a mild acceleration in imports." On Tuesday, credit ratings agency Moody’s will host its annual sub-Saharan Africa summit in Johannesburg. In June, Moody’s cut the local and foreign currency assessments to one level above junk, citing risks to growth and fiscal strength. Moody’s GM for Africa Sylvia Chahonyo said: "This landmark event will assess the shifting ...
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