South African Reserve Bank releases annual report
According to the Reserve Bank's 2006 Annual Economic Report released on Wednesday 23 August, South Africa's current account deficit widened to a seasonally adjusted and annualised R98.9-billion in the first half of 2006 from R58.7-billion in the first half of 2005.
This amounts to 6.1% of GDP from 4.0% of GDP in the first half of 2005. However the central bank explains this is quite natural with the higher growth as capital goods imports needed sustainable growth.
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