RSA Secures its Place among the “Fragile Five”

SOUTH AFRICA - Report 03 Dec 2013 by Iraj Abedian
According to a set of figures released today by the South African Reserve Bank, the current account deficit has remained in excess of 5% of GDP since 2012 (see Graph 1). This – coupled with a shortfall in the government balance as well as anemic growth – suggests that South Africa has secured its “not-so-coveted” status as a fragile economy. Brazil, India, Indonesia and Turkey are the other members of the “fragile five” emerging market economies. Graph 1: Current account balance, South Africa 2010 – 2013 Q3 Source: SARB In a rather hushed and hurried bid to portray a more accurate picture o...

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