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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. 

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Graduates to flourish at 2014 Spring Graduation Ceremony
2014-07-12

Spring does not just bring warmer weather and blossoming flowers, it also ushers in another graduation ceremony on the Bloemfontein Campus.

On Thursday, 18 September 2014, the university will award diplomas and certificates up to and including honours degrees to our graduates from all seven of our faculties.

Firstly, at 09:30, the Faculties of Economic and Management Sciences, Health Sciences and Natural and Agricultural Sciences will confer degrees during the morning ceremony.

During the afternoon ceremony at 14:30, the Faculties of the Humanities, Education (CE, NPDE and ACE excluded), Law and Theology will confer their degrees.

A total of 727 degrees will be conferred at this year’s Spring Graduation:

- Faculty of Economic and Management Sciences: 167
- Faculty of Health Sciences: 119
- Faculty of Natural and Agricultural Sciences: 155
- Faculty of the Humanities: 185
- Faculty of Education: 66
- Faculty of Law: 29
- Faculty of Theology: 6

Well-known satirist Pieter-Dirk Uys will be the guest speaker at both ceremonies on the day, certain to both entertain and motivate the graduates and audience alike.

The events of both graduation ceremonies will be streamed live from our website at http://www.ufs.ac.za/content.aspx?uid=247 .

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