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Financial News: South Africa's FDI Surges In Q2

South Africa's FDI Surges In Q2

09/25/2019 - 07:34:00 (RTTNews)

(RTTNews) - Foreign direct investment into South Africa increased notably in the second quarter as domestic private sector companies acquired debt and equity funding from foreign parent companies.

The latest quarterly bulletin from the South African Reserve Bank showed that direct investment rose to ZAR 26.3 billion in the second quarter from ZAR 11.7 billion in the first quarter.

South Africa's direct investment abroad recorded an inflow of ZAR 5.1 billion, following an outflow of ZAR 15.3 billion in the first quarter.

The financial account of balance of payments recorded an inflow of capital of ZAR 13.2 billion in the second quarter, smaller than the inflow of ZAR 24.1 billion in the previous quarter.

Further, data showed that the deficit on the current account of the balance of payments widened notably to 4.0 percent of GDP in the second quarter from 2.9 percent in the first quarter of 2019.

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