The Prime Minister approved the revised Economic Advisory Council (IAC) to recommend macroeconomic stabilization measures and continue the reform agenda for stable and sustainable economic growth.
The EAC will be chaired by the Prime Minister, while the Minister of Finance and Revenue will be the Deputy Prime Minister. In the absence of a prime minister, the finance minister can take the lead.
The EAC will include both private sector members and official members. The Council will work closely with the government for consultation and capacity building. It will cooperate and synergize with economic institutions.
EAC will follow up the consultation process and propose policy initiatives that further strengthen and optimize financial and economic policies to increase their impact on the well-being of citizens.
The ultimate goal of EAC is to promote reforms and initiatives that are analytically robust and evidence-based once all stakeholders are involved. The Ministry of Finance will be the lead government agency for the EAC.
The Council’s re-constitution aims to formulate an economic reform agenda in a completely impartial manner and to foster active and informed debate that will lead to sound policy-making, analytical research, and active monitoring, as predicted in the Guidelines for Sustainable Institutional Reform and Modernization of the Public Sector and enhancing the common good.