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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 introduces a unique new module for all first-year students
2012-01-15

As from 2012, thousands of first-year students at the University of the Free State (UFS) will be attending a newly designed core curriculum module called UFS 101.

UFS 101 has been specially developed as an exciting learning experience to create a new kind of Kovsie graduate that will stand out amongst other South African graduates.

“UFS 101 will teach students to look at local and global challenges from different perspectives and engage critically with the newest thinking nationally and internationally in fields such as nanotechnology, law and history, to name only a few. Students will also learn more about themselves and confront the boundaries in their thinking,” says Dr Mallory Du Plooy, the module coordinator.
This 16-credit module is also intended to promote social cohesion amongst students. The module is compulsory for all first-time entering mainstream students registered for a first degree or diploma.

UFS 101 is also unique in the sense that no other South African university offers a similar course on a scale this big.

This module, which will be attended by about 4 000 mainstream first-year students, will be presented in the Callie Human Centre on the Bloemfontein Campus. Classes will be interactive with lecturers by means of various audio and visual resources.

UFS 101 will be launched on Monday 27 February 2012.

More information about UFS 101 is available at www.ufs.ac.za  or can also be obtained by sending an e-mail to ufs101@ufs.ac.za .
 

Issued by: Lacea Loader
Director: Strategic Communication
Telephone: +27 (0) 51 401 2584
+27 (0) 83 645 2454
E-mail: news@ufs.ac.za
Fax: +27 (0) 51 444 6393
Web: www.ufs.ac.za
 

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