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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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New champions crowned at first-year athletics
2017-02-03

Description:UFS first-year athletics  Tags: UFS first-year athletics  longdesc=

It was a day filled with excitement on and off the
track when the residences at the University of
the Free State competed against each other
during the first-year athletics event.
Photo: Charl Devenish

The University of the Free State’s first-year athletics is an institution. It is a day marked by colour, spirit, and hoarse voices, but in 2017 produced something different than the last couple of years.

For the first time in four years, new athletics champions were crowned in both the men’s and women’s sections when Veritas and Sonnedou walked away with the trophies at Pellies Park on the Bloemfontein Campus on 25 January 2017.

Wag-’n-Bietjie, Vishuis relinquish titles

Sonnedou, who came second in 2016, broke Wag-’n-Bietjie’s stronghold of the past six years by winning the women’s athletics trophy. Furthermore, Sonnedou won this trophy more than a decade ago – in 2004. Veritas, who won the men’s athletics trophy for the first time since 2011, also put a stop to Vishuis’s dominance. House Abraham Fischer has worn the athletics crown for the past three years.

This year, Vishuis (70 points) took second place after Veritas (76), with Armentum (61) third. Sonnedou (99 points) easily triumphed in the women’s division, while Akasia (36) and Wag-?-Bietjie (34) respectively took second and third place.

Veritas captures overall Spirit trophy

However, the event is about much more than the action on and around the athletics track. First-years also get the opportunity to show pride in their residences by shouting at the top of their lungs.

Veritas, better-known in recent years for its excellent sêr groups, asserted itself even more by being named as the overall winner of the Spirit trophy. This residence was also the winner of the men’s section. Harmony won the Spirit trophy for women’s residences, while Conlaurês was the co-ed residence with the greatest spirit.

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