South Africa: Selected Issues
The external current account in South Africa has strengthened significantly in 1999, mainly owing to a large decline in imports. Compared with a deficit of about 1.5 percent of GDP in recent years, it is close to balance during the first three quarters of 1999. A resumption of investor confidence has led to an increase in international reserves and facilitated a decline in the net open forward position (NOFP). The external current account deficit has declined to 0.2 percent of GDP during the first three quarters of 1999.
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Volume/Issue:
Volume 2000
Issue 042
Publication date: March 2000
ISBN: 9781451840957
$20.00
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Topics covered in this book
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Business and Economics , Exports and Imports , Labor , Economics- Macroeconomics , Money and Monetary Policy , ISCR , CR , TFP growth , liberalization , inflation-targeting framework , South Africa's net export , U , S , dollar , trade liberalization , Total factor productivity , Inflation targeting , Personal income , Tariffs , Africa , Global
Summary
The external current account in South Africa has strengthened significantly in 1999, mainly owing to a large decline in imports. Compared with a deficit of about 1.5 percent of GDP in recent years, it is close to balance during the first three quarters of 1999. A resumption of investor confidence has led to an increase in international reserves and facilitated a decline in the net open forward position (NOFP). The external current account deficit has declined to 0.2 percent of GDP during the first three quarters of 1999.
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