South Africa Posts Q2 Current Account Deficit
South Africa recorded a current account deficit of 2.6 percent of GDP in the second quarter as the Iran war pushed up import costs. The SARB reported that surging crude oil import values drove the shift after a strong first-quarter surplus.
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South Africa posted a current account deficit of 205.5 billion rand ($12.81 billion) in the second quarter, reversing a 181.6 billion rand surplus from the first quarter.
