Working Paper 90 - Current Account Situation in South Africa: Issues to Consider

Tonia Kandiero ()
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Tonia Kandiero: African Development Bank, Postal: 15 Avenue du Ghana P.O.Box 323-1002 Tunis-Belvedère, Tunisia, https://www.afdb.org/en/knowledge/publications

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Abstract: The current account deficit in South Africa deteriorated from 0.1 percent of GDP in 2000 to 6.4 percent in 2006 and averaging 6.7 percent in the first half of 2007. Recently, there has been a growing concern of the ballooning deficit which warrants some discussion on its causes and sustainability to avoid any current account reversal. The general message of this paper is that the current account situation in South Africa does not seem to be a major concern because it is more than financed by capital inflows at the back of strong macroeconomic fundamentals. However, the paper underscores that it is important to remain conscious of its magnitude and to monitor the risks associated with running a current account deficit of this nature.

Date: 2007-12-10
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