SA much better off since 1994: IRR

The IRR released its Life in South Africa: Reasons for Hope report in Johannesburg this morning, highlighting some of the country's social, political and economic successes since 1994.  

Research analyst John Bostock says the average living conditions of most South Africans have improved in the last 22 years.

"The South African economy is much larger than it was in 1994 - it is about 85% larger. The number of South Africans living in formal housing has increased by 131% from 1996 to 2016. There has been a big increase in the middle class and also in the upper middle class," says Bostock.

Bostock admits there are concerns, but adds it's important not to ignore the progress the country has made.

"We look at how we are doing ourselves, we start with ourselves and then we look at our neighbours and our friends. We need to separate our personal state with how the country as a whole is doing," says Bostock.

The report found progress in areas ranging from the economy to crime, education, healthcare and living standards. 

For example:

- Levels of extreme poverty have declined from around 50% in 2002 to about 20% today.

- Interest rates and bond yields are half of what they were 20 years ago.

- The number of people with jobs has doubled over the past two decades.

- The middle class has doubled in size.

- The number of doctors in the public sector has increased by almost 80% since 1994.

- The still-birth rate has fallen by over 20% since 2001.

- The proportion of university students who are African has increased from 19.8% in 1986 to 70.1% in 2014.

- The murder rate has halved since 1994.

- Ten formal houses have been built for every shack erected since 1994.