SA’s economy will be fixed, but there’s doubt the poor will benefit

SA’s economy will be fixed, but there’s doubt the poor will benefit

- President Ramaphosa is working on enriching and growing the South African economy

- It is doubted that a stronger economy will result in a better life for citizens

- Statistics show that despite economic growth since 1994, unemployment and quality of life did not improve

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South Africa's president is working super hard to get the country's economy back on track.

However, there are serious doubts that all the president's hard work will actually benefit the poor. According to a report by eNCA, it's possible that the planned growth will only reinforce the structural weakness within the economy.

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According to statistics, the economy grew with an average of 2.78% per year between the years of 1993 and 2017. And yet, unemployment skyrocket to 27% in 2018 from the 20% it stood at in 1994.

Furthermore, according to a measure of income inequality, South Africa is less equal than it was back in 1994.

On top of that, South Africans are less able to pay for essential services like electricity and water.

In recent years, the quality of services provided also declined.

READ ALSO: Jacob Zuma’s kids face eviction from their Jozi home for missing rent

In conclusion, a better economy will not necessarily mean better quality of lives for every one. There are deep-rooted issues that must be addressed.

Discrimination and corruption needs to be taken on and out.

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Source: Briefly.co.za

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