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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

2015 First-years: this is how Kovsies will welcome you
2014-11-20

The UFS can hardly wait to welcome you into our family! Wondering about when, where and how? Read on and find out all you need to know... 

The official welcoming of the 2015 first-years will take place on Friday 16 January 2015 at 18:00 in front of the Main Building on the Bloemfontein Campus.

The welcoming of 2015 first-years by the various faculties will take place from 09:00 on Saturday 17 January 2015 at the different faculties.

•    Faculty of Economic and Management Sciences in the EMS Auditorium
•    Faculty of Education in the New Education Building
•    Faculty of Health Sciences in the Kovsie Church
•    Faculty of the Humanities in the Odeion
     Session 1 - 09:00 ; Session 2 - 11:00
•    Faculty of Natural and Agricultural Sciences in the Wynand Mouton theatre
•    Biological groups in the Wynand Mouton theatre
•    Agricultural programmes in the Agriculture Building, LG 1, 2 en 3
•    Consumer Sciences in the Agriculture Building, LG 4
•    Physics and Chemistry in the Chemistry Building, CEM 108
•    Information Technology in WWG 114
•    Mathematics and Applied Mathematics in WWG 226
•    Mathematical Statistics and Actuarial Sciences in the West Block, W111
•    Geography in GEO 1,5
•    Geology in the Main Lecture Hall 1
•    Architecture in the Architecture Building
•    Faculty of Law in the CR Swart Auditorium
•    Faculty of Theology in the H van der Merwe Scholtz Hall 10 (HMS 10)

An information centre will be available at the parking area in front of the Red Square.

Also, the Campus Ministries Forum will be welcoming first-years during an inter denominational church service on Sunday 18 January 2015 from 09:00-11:00 at the Kovsie Church. Everyone is welcome to attend this.  
 
2 February 2015:  lectures start

More information for 2015 first-year students

 

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