Poverty Declining; Financial Inequality Major Issue

Poverty Declining; Financial Inequality Major Issue

The new stats released have suggested decline in the number of poor by 4 million in the country. The prices of commodities are rising and it is becoming increasingly difficult for locals to manage their expenses. As per the data till year 2011, 16.3 million people were below lower-bound poverty line, said statistician general Pali Lehohla.

Social grants have helped in reducing poverty. Compared to 2.6 million grants in 1993, 16.6 million grants were issued in 2011.

Financial inequality is a major issue for South Africa. The data shows no change in financial inequality. The richest 20 percent account for 61 percent of national consumption. The bottom 20 percent consume 4.3 percent.

The Nkandla municipality of President Zuma features as fifth highest level of poverty. Msinga municipality in KwaZulu-Natal was the poorest across the nation.

The inflation is out of control in South Africa and with decline in valuation of rand, more pain is expected in terms of rising import costs. The country is going for polls this year and the ANC is trying hard to present positive data on economy.

The food prices are rising. The platinum exports are expected to remain lower as the AMCU strike at three major platinum mines since January has hit the production. Unless the government takes strict action to revive the economic growth, the figures presented by stats will not be taken positively by locals.

User login

You May Have Missed...

Researchers Develop Contact Lens that can Provide Telescopic Functionality
Tue, 02/17/2015 - 08:46

According to researchers from Switzerland, they have developed a contact lens that has the ability to provide telescopic functionality. The...

Nigeria Update

World Malaria Day Draws Attention over Need for Renewed Commitment
Sat, 04/26/2014 - 12:48

The world commemorated the Annual Malaria Day on April 25 and the attention was drawn towards...

Economy Watch

President Obama Proposes $4 Trillion Budget, 15% goes to Defense
Tue, 02/03/2015 - 07:58

The Obama administration has proposed a $4 trillion budget on Monday. The budget has included $...

Health Tonight

Skin test may be helpful to diagnose Alzheimer's disease
Thu, 03/05/2015 - 12:39

Researchers believe that a skin test could someday help positively diagnose someone suspected of...

Science Tonight

Astronomers witness Multiple-Star System in Initial Stage of Formation
Sun, 03/15/2015 - 05:08

Astronomers said that for the first time they have observed a multiple-star system in the first...

UK News

Financial problems related to eating disorders among students
Tue, 02/17/2015 - 08:49

According to a research, facing financial difficulties at university could lead to increased...


Astrazeneca’s Experimental Drug to Treat COPD Fails to Reduce Acute Exacerbation
Mon, 09/08/2014 - 13:17

On Monday, AstraZeneca PLC announced that Phase IIa study of benralizumab, an experimental drug...

US News

Students present a zombie apocalypse simulation to explain spread of disease
Fri, 03/06/2015 - 14:16

A group of students at the Cornell University have adopted a unique concept to explain how...

Technology Tonight

Barack Obama
Fri, 02/13/2015 - 08:59

It is highly probable that the President Barack Obama will announce a new plan with regard to...