Weaker rand could boost South Africa's exports - Treasury

Reuters

27 October 2016 at 8:03 am

South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg January 17, 2013. REUTERS/Siphiwe Sibeko

CAPE TOWN (Reuters) - South Africa's exports could be boosted by a weaker rand, a top Treasury official said on Thursday, a day after Finance Minister Pravin Gordhan cut economic growth forecasts in his mid-term budget. "If the real exchange rate depreciation that we have seen does not get eroded by inflation, and there is no evidence of that, then we can see it impacting positively on exports," Lungisa Fuzile told parliament on Thursday. (Reporting by Wendell Roelf; Editing by Joe Brock)

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