
Jac Laubscher, Group economist |
The current account vs. the capital account: where should the emphasis be? The current account of South Africa’s balance of payments has constantly been in the news recently. It has been argued ad nauseam that the current account deficit makes the country overdependent on a sustained inflow of foreign capital.
But perhaps this is the wrong point of departure – should the focus not rather be on ways to improve the capital account?
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