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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 increases admission requirements
2010-07-26

Admissions criteria for entry to undergraduate programmes at the University of the Free State (UFS) will be increased with immediate effect. This means that students who begin their undergraduate studies in 2011 will need to meet the new admissions criteria in order to register.

“Increasing admissions requirements is a critical component of our unwavering commitment to excellent academic standards and educational quality at the UFS,” said Prof. Driekie Hay, Vice-Rector: Teaching and Learning at the UFS.

“The challenge of student success at most South African universities is something that has attracted increasing attention over the past few years. We believe that it is our responsibility as an educational institution to admit students that we are confident are likely to be successful, and also to provide the very best quality of teaching and learning to ensure success.”

The university is also acutely aware that large numbers of young people in the country attend schools that are not adequately resourced to provide the quality of schooling needed for successful university study.

“We are thus committed to working with schools and with talented learners in order to address this challenge,” said Prof. Hay.

“The university currently has several initiatives in this regard. Further, our innovative and extremely successful University Preparation Programme (UPP) provides an opportunity for students with potential who do not meet the university entrance criteria to complete a bridging year that prepares them for the rigours of university.”

For students who begin their studies in 2011 the following changes will come into effect:

  • The minimum requirement for entry into undergraduate programmes will increase from 28 points to 30 points.
  • The minimum requirement for entry into extended programmes will increase from 23 points to 25 points.
  • The minimum requirement for entry into the University Preparation Programme will increase from 17 points to 20 points.
  • Subject-specific requirements specified by faculties will remain the same, except for Natural and Agricultural Sciences (contact the Faculty Manager at 051 401 3199).
  • All programmes that already require a minimum score of 30 points and above will not be changed.
  • The minimum entrance criteria for the B.Ed. Foundation Phase and B.Ed. Intermediate Phase will increase from 23 points to 25 points.
  • The minimum entrance criteria for B.Soc.Sc. Nursing will increase from 28 to 29 points.

Performance in the National Benchmark Tests will be used for placing students into academic support modules as needed.

These test results will not be used for admissions decisions in 2011, except for Faculties where it is used as part of their selection process.
Prospective students are encouraged to submit their applications for study in 2011 as soon as possible.
For telephone enquiries, please dial 051 401 3000.

 

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

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