Presidential Economic Advisory Council II established for new administration

On 15 November 2024, President Cyril Ramaphosa announced the appointment of the new members of the Presidential Economic Advisory Council (PEAC), a strategic body tasked with guiding South Africa’s economic policies towards rapid, inclusive, and sustainable 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 council comprises esteemed local and international economists and experts who will volunteer their time to serve during the 7th Administration. Prof. Haroon Bhorat, DPRU Director, has served on the PEAC since 2019; and has been reappointed to the 'PEAC II'.

"I am honoured to serve once again on the PEAC for this 2nd term of President Ramaphosa," he says.  "As we enter a period of modest economic growth, but also a vibrant policy environment – I am hopeful that we as a Council can contribute in tangible ways to growing the economy and generating sustainable employment."

President Ramaphosa has set up the Council to 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 advises the President and government more broadly, helping the development and implementation of economic policies that spur inclusive growth. 

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. 

The Council serves as a forum for in-depth and structured discussions on emerging global and domestic developments, economic and development policies, and facilitates socialisation and diligent execution thereof. 

To view the full list of Members of the Presidential Economic Advisory Council, please visit: https://www.thepresidency.gov.za/president-ramaphosa-appoints-presidential-economic-advisory-council-7th-administration