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Presidential Economic Advisory Council meets to tackle economic and development challenges

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The Presidential Economic Advisory Council (PEAC) is meeting at the Union Buildings today, Friday 06 March 2020, to review and refine South Africa’s collective response to current economic and development challenges.

The Council was inaugurated in October 2019 to serve as a forum for in-depth and structured discussions on emerging global and domestic development, economic and development policies and to facilitate socialisation and diligent execution of Council resolutions by government and social partners.

The Council comprises local and international economic thought leaders, prominent economists and technical experts drawn from academia, private sector, labour, community, think tanks and other constituencies. 

Today’s meeting, which is chaired by the President, is expected to focus on global trends and South Africa’s re-industrialisation program. It will further reflect on the state’s role in driving mission-oriented, challenge-led projects, including advancing a new energy paradigm for the country.

The Council will also serve as a sounding board on options for reducing inequality through, among others, inclusively growing the agricultural sector and dealing with rising national debt. 

The President has urged the advisory council to focus its energies on areas that require the greatest attention and which are likely to have the greatest impact. 

“We need to firstly, fix the fundamentals, secondly pursue vital areas of growth and thirdly, aim for excellence in planning and execution,” said the President.

Media enquiries: Khusela Diko, Spokesperson to the President on 072 854 5707

Issued by: The Presidency