JOHANNESBURG, June 21 (Reuters) – The deficit on South
Africa’s current account widened to 4.9 percent of gross
domestic product in the first quarter, its biggest in more than
three years, mainly because of higher net dividend payments to
off-shore investors in the quarter.
In its June Quarterly Bulletin which reports on data from
the first quarter, the South African Reserve Bank said on
Thursday the shortfall on the current account had expanded from
3.6 percent in the previous quarter.
A stronger rand and lower domestic supply led to smaller
export proceeds over the first quarter.
(Reporting by Xola Potelwa; Editing by Ed Cropley)
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