President Cyril Ramaphosa has appointed members of the Presidential Economic Advisory Council with effect from 1 October 2019.
The Council, which was announced by President Ramaphosa in the State of the Nation Address, will ensure greater coherence and consistency in the implementation of economic policy and ensure that government and society in general is better equipped to respond to changing economic circumstances.
Comprising local and international economic thought leaders, the Council will advise the President and government more broadly, facilitating the development and implementation of economic policies that spur inclusive growth.
The Council is a non-statutory and independent body chaired by the President and brings together prominent economists and technical experts drawn from academia, the private sector, labour, community, think tanks and other constituencies.
The members, who will volunteer their time and be compensated for subsistence and travel, are appointed to serve a three-year term.
The Council will meet quarterly at first and will in due course decide on timelines that will best enable deliberations among members and the interface with the President.
The Presidency is in the process of finalising the appointment of a seasoned economist and leader from West Africa who has accepted an invitation to serve as a member of the Council.
President Ramaphosa has thanked the Council members for accepting the invitation to serve South Africa’s development in their capacity as members of the Presidential Economic Advisory Council and assured them that their insights, critiques and recommendations will ultimately serve to build a sustainable and inclusive economy that meets the needs of citizens and is globally competitive at the same time.