Maize Imports to Increase SA Account Deficit

The SARB warns that imports of maize as a result of the drought could increase the South Africa’s current account deficit

The South African Reserve Bank (SARB) has warned that imports of maize as a result of the drought could increase the South Africa’s current account deficit.
 
The bank, which released its 2016 Financial Stability Review Report, is of the view that this gives rise to financial stability risks.
 
The Reserve Bank says a combination of the drought and a weaker exchange rate has impacted agricultural commodity prices severely.
 
Bank Governor, Lesetja Kganyago, further warns that higher food prices as well as higher interest rates could intensify the strain that households are already experiencing.
 
To read the article titled, “Maize imports set to increase SA account deficit: Report,” click here

Source: 
SABC Online

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