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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

“Leisure can be of great geographical importance”
2013-09-26

 

Prof Gustav Etienne Visser
Photo: Supplied
26 September 2013
 

Prof Gustav Etienne Visser (43) is Professor in Human Geography at the University of the Free State. He has been with the university’s Geography Department since January 2002 and became a full professor in 2009.
Visser completed his MA in Geographical Research at the Stellenbosch University in 1996 and finished his PhD in Geography at the London School of Economics and Political Science in 2000. His thesis was titled: Spatialities of social justice: reflections on South African Cities.

Visser was a Post-doctoral Fellow at the School of Geography, Archaeology and Environmental Studies at the University of the Witwatersrand before his appointment at the UFS. He now teaches Urban Geography to third-year students and Tourism and Development to MA students.

His research interests so far have been Identity-based consumption and urban morphological change, Tourism and development nexus and Critical reflections on South African Geographical Research.

Visser’s publications summary is as follows:

- Four books – edited collections
- 28 book chapters
- 71 refereed articles
- Nine academic commentaries and research notes
- 14 research reports
- and 38 conference papers

His latest research on how people’s leisure time influences our urban spaces, is fundamentally relevant to everyday life.

“We tend to forget to think about it, but how people spend their leisure time is part of their lifestyle,” says Visser.“ And our urban surroundings are influenced by the lifestyles of its inhabitants.”

When asked about his own leisure time and activities, Visser humorously responds “There is no such thing.”

However, he is passionate about eating, cooking and wine.
“I must also watch a series every day – Dexter is definitely my favourite.
“Furthermore, I also travel abroad for about three months of the year, which is mainly for my research concerning urban spaces.”

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