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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. 

News Archive

UFS application figures show a good upward trend
2008-10-23

Applications for admission to the University of the Free State (UFS) are showing an upward trend. In comparison with the same time last year, the total application figure has increased from 6 273 to 7 507 – a growth of 19,7%.

So far, applications for postgraduate studies are showing the biggest growth with 1 342 applications received. During the same time last year, 594 applications for postgraduate studies were received – an increase of 126%.

Prospective students have until 30 November 2008 to apply for admission. “This applies to first-time entering first-year students and senior students who have interrupted their studies for at least one year,” said Mr Vernon Collett, Registrar: Student Academic Services, at the UFS.

According to Mr Collett students whose applications for admission are received after 30 November 2008 and until 13 January 2009 will be accepted subject to the availability of place on the programme they applied for.

Applications from prospective students who wrote the Senior Certificate (prior to 2008) and who are in the possession of a conditional exemption will only be accepted until 5 January 2009.

Prospective students who want to apply must pay a non-refundable fee of R140.
The signed application form must be accompanied by a certified copy of the prospective student’s identity document or passport, a proof of payment of the application fee as well as a certified copy of their Statement of Results of their Senior Certificate.

Prospective students who are in Grade 12 this year will receive a National Senior Certificate. A certified copy of their Statement of Results must be faxed to the UFS not later than 7 January 2009.

The application form of a minor must be signed by his/her parent or guardian and the field of study should be clearly indicated.

First-time entering first-year students from the Faculties of Economic and Management Sciences and the Humanities (including Education) will be welcomed by the Acting Rector, Prof. Teuns Verschoor, on Friday, 9 January 2009 at 09:00 in the Callie Human Centre on the Main Campus.

The welcoming of students from the Faculties of Health Sciences, Natural and Agricultural Sciences, Law and Theology will take place on Saturday, 10 January 2009 at 09:00 in the Callie Human Centre.

The registration of first-time entering first-year students will commence on 13 January 2009 and that of senior students on 19 January 2009 at the Callie Human Centre according to a programme.

Students who applied for admission after 30 November 2008 and are accepted can register from 4 February 2009.

Lectures will commence on 2 February 2009 and the registration process will end on 10 February 2009. This is applicable to all students – undergraduate as well as postgraduates

Prospective students who want to apply for admission or who have any enquiries can call 051 401 3000 or visit the UFS web site at www.ufs.ac.za.

 

Media Release:
Issued by: Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za  
22 October 2008

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