Maize Imports to Increase SA Account Deficit
Thursday 5 May, 2016 - 10:00
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.