Current account deficit shrinks to nine-year low
Narrowing of the deficit suggests the country is less vulnerable to changes in foreign investor sentiment, says Kevin Lings
05 March 2020 - 17:23
SA’s current account deficit shrank sharply in the fourth quarter, largely due to lower imports, underscoring the weakness in an economy that slipped into recession in the closing months of 2019.
Though the decline to a nine-year low on a quarterly basis underscored the poor shape of SA’s economy, the outcome leaves SA “less vulnerable” to changes in foreign investor sentiment at a difficult time for the country, said Stanlib chief economist Kevin Lings...
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