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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 receives record number of applications
2011-12-31

The University of the Free State (UFS) is looking forward to the start of the new academic year in January 2012, when thousands of new students will be joining the Kovsie family.

The UFS received almost 13 000 applications for studies in 2012. This is an increase of about 80% compared to the total number of applications received in 2010 for studies in 2011.

This increase is partly attributed to the university’s new method in approaching prospective students and the marketing initiatives followed during 2011. These included visits to various schools in the country by the Vice-Chancellor and Rector, Prof. Jonathan Jansen.

“This shows that the UFS is becoming a preferred place of study. Unfortunately, we can only take in about 4 000 first-years from these applications. We will, of course, choose the best and most diverse class of students,” says Prof. Jansen.

The university’s marketing initiatives will be intensified next year where students will take part as ambassadors in the university’s student recruitment campaigns for 2013.

Mr.Rudi Buys, The Dean of Student Affairs at the UFS, says Prof. Jansen’s visit to various schools in the country was very successful. This will be continued in 2012 and student leaders from residences, associations as well as the Student Representative Council will accompany him on these visits during the course of the year.

“These learners, just like our students, are part of a new generation of new democratic South Africans. Our students are excellent examples of youth leadership in the country and we are very excited about all our initiatives,” Mr Buys said.

The UFS is aware of the fact that learners will only receive their final Grade 12 results in January 2012. Final admission will therefore only be granted upon the submission of a certified copy of the matriculation results. Fax these results to 086 586 8947 or e-mail to applications@ufs.ac.za  as soon as it is available.

Important dates for Bloemfontein students

  • Friday and Saturday 13 & 14 January 2012: Welcoming of new first-years
  • Sunday 15 January: Gateway College life programme (Bloemfontein edition) begins)
  • Monday 16 January 2012: Registration starts 

Important dates for Qwaqwa students

  • Thursday 12 January 2012: Arrival of first-years
  • Friday 13 January 2012: Gateway College Life programme (Qwaqwa edition) begins.
  • Monday 16 January 2012: Registration starts

For more information, Bloemfontein students can contact Student Affairs at 051 401 9102 or send an e-mail to Cornelia Faasen at faasenc@ufs.ac.za . Qwaqwa students can contact Dulcie Malimabe at 058 718 5018 or send an e-mail to malimabedp@qwa.ufs.ac.za  

Media Release
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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