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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

Exciting Science School of Excellence for Grade 11 learners presented
2009-05-21

The Faculty of Natural and Agricultural Sciences at the University of the Free State (UFS) is presenting a Science School of Excellence for top achievers in Grade 11 from 6-9 July 2009. This will take place on the Main Campus in Bloemfontein.

Four exciting days are planned during which Grade 11 learners will participate in challenging extra-curricular exercises as well as laboratory and research activities. All classes will be presented in English and Afrikaans.

A maximum of 80 learners can be accommodated and selection will take place on the basis of first come, first accepted. An application fee of R50,00 per learner is payable.

The closing date for applications is 29 May 2009. The successful candidate will be notified telephonically. A further registration fee of R200,00 is payable by the successful learners. Learners are responsible for their own transport and accommodation. The registration fee includes all meals, lectures and activities.

In order to qualify for the UFS Science School, learners had to achieve an average of 80% [level 7] during the 2008 Grade 10 final examinations. They also had to obtain a minimum of 80% [level 7] in Mathematics and Physical or Life Sciences during the same examination. Learners who are interested in the Department of Computer Sciences and Informatics will also need Grade 10 CAT at level 7. A certified copy of the learner’s school report must accompany the application form.

“Our vision is to make the Faculty the preferred choice in central South-Africa for those who wish to pursue their studies in the natural and agricultural sciences,” said Prof. Neil Heideman, Vice-Dean of the faculty.

For application forms and enquiries, please contact the coordinator, Mr Johan Kruger, at 051 401 3199.

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  
20 May 2009

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