President Ramaphosa chairs inaugural meeting of the newly appointed Presidential Economic Advisory Council

President Cyril Ramaphosa chaired the inaugural meeting of the newly appointed Presidential Economic Advisory Council for the Seventh Administration today, 14 January 2025, at the Union Buildings in Pretoria.  

President Ramaphosa welcomed the new and returning members of the Council, which was appointed in November 2024, and highlighted the important role that the Council will play as the Government of National Unity looks to reignite economic growth and tackle poverty and inequality.

The meeting reaffirmed the necessity of structural transformation and economic reforms to accelerate economic growth, and discussed forward-looking policy proposals in areas such as green industrial policy, skills development, and macroeconomic policy.

Members of the Council discussed the need to position South Africa for growth in a rapidly changing global environment, in which technological advances in artificial intelligence and the imperative of tackling climate change will lead to structural changes in economies.  

A key topic of discussion was South Africa’s role in advancing the global economic policy agenda as it assumes the Presidency of the G20. President Ramaphosa has outlined a set of clear and actionable priorities for the G20 Presidency which include  mobilising finance to support a just transition, addressing the unsustainable debt burden on developing countries, strengthening disaster resilience and response, and harnessing critical minerals for inclusive growth and sustainable development.

The meeting discussed proposals to advance these priorities, building on the progress made on issues such as international taxation, reform of multilateral development banks, and climate finance.

President Ramaphosa said: “The Presidential Economic Advisory Council will play an important role in providing independent advice as we seek to ensure that our economic policy is informed by sound evidence, by innovation, and by a diversity of views and opinions.”

Media enquiries: Vincent Magwenya, Spokesperson to the President – media@presidency.gov.za

Issued by: The Presidency
Pretoria