President Cyril Ramaphosa is set to chair the first Presidential Economic Advisory Council Meeting in Cape Town on Wednesday. The 18-member council was appointed with effect from the beginning of this month. Its aim is to advise the President and government on facilitating the development and implementation of economic policies in order to foster economic growth.
Comprising local and international economic thought leaders, the non-statutory and independent body chaired by the President brings together prominent economists and technical experts drawn from academia, the private sector, labour, community, think tanks and other constituencies.
The Council constitutes expertise in international economics, macroeconomics (including fiscal policy and monetary economics), labour economics, economics of education and the economics of poverty and inequality and urban development. Other areas of insights entail microeconomics with a focus on network industries, regulation and competition, trade, energy and climate change.
It will serve as a forum for in-depth and structured discussions on emerging global and domestic developments, economic and development policies, and to facilitate socialisation and diligent execution thereof.
The meeting comes as Members of Parliament returned to work on Tuesday after the Spring recess. A total of 43 committees will be sitting this week, as well as the National Council of Provinces where President Ramaphosa will answer oral questions later in the week.
He will answer to a variety of topics including border control and security, challenges facing Eskom and government’s plans to fight gender-based violence.