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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

Another award proves quality of Architecture
2012-04-13

Jurie Swart with Mrs Martie Bitzer, Head of the Department of Architecture.
Photo: Supplied
13 April 2012

 

The Department of Architecture can be proud of its students. Recently, Jurie Swart was honoured as regional winner of the Corobrik Architectural Student of the Year Award. He was also placed second nationally.

Jurie is an architect at the The Roodt Partnership in Bloemfontein.
 
Corobrik says in a media release: “Tomorrow’s architects set new standards at 25th Corobrik Architectural Student of the Year Awards. Achieving sustainable built environments with low impacts on the natural environment is becoming a universal goal. Energy usage in buildings is under the spotlight. Water-wise projects are most likely to get the go ahead. That is why an in-depth understanding of the environmental constraints and impacts of technologies on architectural solutions is becoming so important for students of architecture. It is the resolution of environmental issues that can be expected to drive architectural expression that will shape tomorrow’s buildings and the creation, extension and redevelopment of our towns and cities.”

Jurie Swart’s project, Borderline – mediated landscape, a Water Research Centre for the University of the Free State (Qwaqwa Campus), explores whether nature and architecture can amalgamate to become a hybrid solution in a vast landscape which has lost its reference to place and time.

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