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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

A much-needed "lift" for Psychology students and staff with disabilities
2010-06-01

Pictured are: Mr Riekie Vickers (master's student in Psychology) and Ms Hetsie Veitch (Coordinator and Head: Unit for Students with Disabilities).
Photo: Mangaliso Radebe


The Department of Psychology at the University of the Free State (UFS) has officially opened the new elevator installed in the Psychology Building as part of the UFS’s plan of increasing accessibility to its buildings for students and staff with disabilities. The department has approximately 40 undergraduate and postgraduate students with physical disabilities.

“Besides offices, there are classrooms and laboratories in the Psychology Building which were never accessible to these students. To train them they need access to these venues. Now the installation of this elevator makes this possible,” said Prof. Karel Esterhuyse, associate professor in the department.

Some of the latest developments on the Main Campus in this regard include:

  • A new elevator for the West Block which is expected to be completed by the end of this year.

     
  • New ramps to both entrances of the Winkie Direko Building were completed and the paving on the sidewalks adjusted to make access to the building easy.

     
  • During the June/July holidays the classrooms and bathrooms in the Genmin Lectorium will be upgraded to improve accessibility for students and staff with disabilities.

     
  • There are 22 new parking spaces for students and staff with disabilities all over the campus.

Media Release
Issued by: Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt@ufs.ac.za  
1 June 2010
 

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