Mr L S Ngonyama (Cope) to ask the Minister of Economic Development:
Whether, with reference to the 2010 Estimates of National Expenditure (details furnished), his department has established an advisory panel on domestic and international economic development; if not, why not; if so, (a) when was this panel established and (b) what are the further relevant details?
The Economic Advisory Panel (EAP) was established in March 2010. The names of the panel members were announced in the Minister’s Budget Vote Speech of 21 March 2010:
Professor Joseph Stiglitz, Nobel Economics Laureate and previously Chief Economist of the World Bank
Professor Haroon Bhorat of UCT
Dr Michael Power, a strategist from Investec Bank
Professor Chris Malikane from Wits University (who later withdrew upon being appointed to the National Planning Commission)
Mr Goolam Ballim, Group Chief Economist of Standard Bank
Dr Olive Shisana, the CEO of the Human Sciences Research Council
Mr Geoffrey Qhena, CEO of the Industrial Development Corporation
Dr Simon Roberts, Chief Economist of the Competition Commission
Dr Neva Makgetla, then Lead Economist in the development planning division of the DBSA (subsequently appointed Deputy Director-General of Economic Policy Development at EDD)
Subsequently Dr Johan van Zyl, President and CEO of Toyota South Africa, Professor Evance Kalula, Deputy Dean at UCT and Prof Ha Joon Chang were appointed to the EAP.
The panel and individual panel members provided the Minister with advice on a range of economic issues and have also met with the President.
One panel member, Prof Stiglitz, led discussion on the international context within which the New Growth Path will be realised.