S. African president appoints economic advisory council

Source: Xinhua| 2019-09-27 22:35:33|Editor: yan
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CAPE TOWN, Sept. 27 (Xinhua) -- South African President Cyril Ramaphosa has appointed members of the Presidential Economic Advisory Council to ensure greater coherence and consistency in the implementation of economic policy, the Presidency announced on Friday.

The council, which will take effect from October 1, will ensure that the government and society in general be better equipped to respond to changing economic circumstances, the Presidency said in a statement.

Comprising prominent local and international economists and technical experts drawn from the academia, private sector, labor, community, think tanks and other constituencies, the council will advise the president and government more broadly on how to facilitate economic development and implement economic policies that spur inclusive growth, presidential spokesperson Khusela Diko said.

As a non-statutory and independent body chaired by the president, the council constitutes expertise in international economics, macroeconomics (including fiscal policy and monetary economics), labor economics, economics of education and the economics of poverty and inequality and urban development, according to Diko.

Other areas of insights entail microeconomics with a focus on network industries, regulation and competition, trade, energy and climate change, said Diko.

The council will meet quarterly at first and will in due course decide on timelines that will best enable deliberations among council members and the council's interface with the president, Diko said.

This operating model is intended to enhance the work being undertaken to build a capable state, Diko said.

The president has assured the council members 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, Diko added.