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06 March 2020 | Story Valentino Ndaba | Photo Stephen Collett
Lesetja Kganyago, Governor of the South African Reserve Bank
Reserve Bank Governor, Lesetja Kganyago, presented a public lecture at the UFS on 4 March 2020.

With a 7% fiscal deficit on the Gross Domestic Product (GDP) projected by the National Treasury for the 2020/21 financial year, it would not take long to arrive at a dangerous level of debt at the rate that South Africa is borrowing. Although the South African Reserve Bank Governor, Lesetja Kganyago, does not consider a debt to GDP rate of 60% a disaster, he did express his concern regarding the country’s fiscal deficits being over 6% of the GDP.

Governor Kganyago presented a public lecture at the University of the Free State (UFS) on 4 March 2020, focusing on how we should use macro-economic policy and its role in our economic growth problem.

Unsustainable policies 
South Africa’s fiscal situation is not about tight monetary policy. According to the Governor: “Weak growth is endogenous in our fiscal problems. We cannot keep doing what we are doing and hope that growth will recover and save us. Growth is low, in large part, because of unsustainable policy.”

Avoiding an impending crisis
To address the problem, as a policymaker with more than 20 years’ experience, the Governor suggested that the recommendations made by Minister Tito Mboweni be taken into consideration. “The Minister of Finance, Tito Mboweni, is a man who says things that are true even when they are unpopular. His message is that we have to reduce spending and he is right to put this at the centre of our macro-economic debate,” said Governor Kganyago.

The state needs a radical economic turnaround strategy which is able to diminish the risk of losing market access and being forced to ask the International Monetary Fund for help. Governor Kganyago is positive that such a reformative tactic would go beyond monetary policy and ensure that the interest bill ceases to claim more of South Africa’s scarce resources. 

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Unit for Language Facilitation and Empowerment
2004-11-26

Seated - fltr: Drs Jackie du Toit, from the UFS's Department Afro-Asiatic Studies, Sign Language and Language Practice and Elbie Truter, from the UFS's ULFE.

Standing - fltr: Mr Roelof Geyser, from the UFS's ULFE; proff Theo du Plessis, head of the UFS's ULFE; Naomi Morgan from the UFS's Deparment of Afrikaans, Dutch, French and German and Johan Lubbe from the UFS's ULFE.


Six members of the University of the Free State's (UFS) Unit for Language Facilitation and Empowerment (ULFE) will take part in the Multilingual Information Development Programme's (MIDP) 5th International Colloquium that will be presented from 29 November -1 December 2004 at the University of Antwerpen in Antwerpen. The topic of this year's colloquium is Multilingualism and the Media.

Various highly acclaimed experts from Belgium and Europe will take part in the colloquium.

It is the first time that so many staff members of the UFS's ULFE will take part in this series of colloquiums, which form part of the ULFE's MIDP project. The project is a partnership with the Free State Province and is conducted in cooperation with the University of Antwerpen. Although the series of colloquiums is mainly sponsored by the Province of Antwerpen, the National Research Foundation and the UFS's Central Research Fund also makes substantial contribution to the series.


 

 

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
26 November 2004

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