Top guns on Cyril’s council

RAFT OF ACADEMICS: OVERSEE COHERENT ECONOMIC POLICY IMPLEMENTATION

Despite the reams of data produced by Statistics SA, SA Reserve Bank’s impeccable economic research and the inputs from the ministers of finance and public enterprises, government is apparently not clear about what is wrong in the economy and how to fix it, and has appointed another economic advisory panel.

The new Presidential Economic Advisory Council will, according to the Presidency, “ensure greater coherence and consistency in the implementation of economic policy and ensure that government and society, in general, are better equipped to respond to changing economic circumstances”.

The new advisory council is also intended to build a capable state.

According to the formal announcement, the council will be chaired by the president, will meet every quarter and will receive support from National Treasury and existing economic research structures.

The announcement states that the new council will engage with the National Economic Development and Labour Council (Nedlac).

As an aside, Nedlac was established as “the vehicle by which government, labour, business and community organisations seek to cooperate, through problem-solving and negotiation, on economic, labour and development issues and related challenges”.

President Cyril Ramaphosa has appointed 18 members to the council and will announce another member later. Eleven of the members are academics.

Moneyweb looked at the academics’ published research to get an idea of their approach to economic matters.

It is important to note that the president stated that the members are serving voluntarily, without payment, except for a travel and food allowance.