President Cyril Ramaphosa says the reforms that government is implementing to stimulate economic growth, are reasons for hope.

He was delivering the opening remarks at the first meeting of the Presidential Economic Advisory Council at Tuynhuis in Cape Town.

The 18-member council brings together prominent economists and technical experts drawn from among others academia, the private sector and labour.

President Ramaphosa says some of the reforms are reviewing visa regulations and the release of the spectrum.

“Much work is now underway to ensure that we do increase the level of confidence and that we regain the credibility and the trust, not only of the markets but also of our people as we implement these reforms that already we are having a great deal of support from a number of players in our country.”