The South African Economic Commission (PEAC) has commended President Ramaphosa and other African leaders for their efforts in advocating for an end to the destabilizing Ukraine-Russia war and promoting peace.
The PEAC members supported President Ramaphosa’s efforts in sending envoys to the United States and other G7 economies to clarify South Africa’s role in working for peace. The meeting acknowledged that South Africa must strengthen bonds with historical trade and investment partners while deepening economic ties with BRICS countries.
The PEAC members welcomed progress in implementing reforms and encouraged the President to continue driving the reform agenda across electricity, water, rail, ports, telecoms, and skills sectors to revive economic growth and create millions of jobs. They emphasized the need for a comprehensive and well-balanced approach in the execution of the Energy Action Plan, which will promote new investment for the modernization and restructuring of the country’s electricity sector.
President Ramaphosa thanked the members of PEAC for their well-considered inputs and advice to the government, ensuring that the government remains on track in implementing reforms purposefully, despite the enormity of the task. The PEAC members will continue to provide economic advice to the President in an ongoing manner.
The PEAC consists of 19 local and international economic experts from academia, policy, and business circles. The President invites members of his cabinet involved in economic policy matters to join the meetings. The work of the PEAC has been crucial in shaping the South African government’s economic response to the Covid pandemic.
By: The Presidency
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