To all media

1. TO ALL MEDIA
FRIDAY09 OCTOBER2020
STATEMENT ON MEETING OFPRESIDENTIALECONOMICADVISORYCOUNCIL
PresidentCyril Ramaphosawill onThursday,15October,2020, presentthe widelyconsultedSouth
AfricanEconomicReconstructionandRecoveryPlantoa JointHybridSittingof Parliament.
The Presidenthaswrittentothe Speakerof the National Assemblyandthe Chairpersonof the National
Council of Provincestocall fora JointSittingintermsof Section84(2)(d) of the Constitution,readwith
Rule 7(1)(b) of the JointRulesof Parliament.
Parliamentwillconveneat14h00.
In hismotivationforthe JointSittingthe Presidentsaid:“The Coronaviruspandemichasplungedour
country,continentandthe worldintoan unprecedentedcrisis,whichhascausedhuge sufferingandloss
of life.
“Our responsestodate have avertedthe worst-case scenariothoughwe remainvigilant.However,the
damage causedby the pandemictoan already-weakeconomy,toemployment,tolivelihoods,andto
publicfinances,hasbeencolossal.
“We needtotake extraordinarymeasurestowardsaspeedyandsustainable economicrecovery.”
The recoveryplan has beenwidelydeliberatedamonggovernmentandsocial partners –business,
labourand community - underthe auspicesof the National EconomicDevelopmentandLabourCouncil
(NEDLAC) .
The draft planwas tabledatthe CabinetLekgotlaon7 and8 October2020. Furtherinputswere made
today,Friday,9 October2020, at a meetingof the Presidential EconomicAdvisoryCouncil,whichthe
Presidentchaired.

2. The Council wasinauguratedinOctober2019 to serve asa forumfor in-depthandstructured
discussionsonemergingglobal anddomesticdevelopment,economicanddevelopmentpoliciesandto
facilitate socialisationof Council recommendationsbygovernmentandsocial partners.
The Council compriseslocal andinternational economicthoughtleaders,prominenteconomistsand
technical expertsdrawnfromacademia,privatesector,labour,community,thinktanksandother
constituencies.
In today’ssessionthe Council welcomedthe drafteconomicrecoveryplanandidentifiedareasof
emphasis –in particular, energysecurityandthe greeneconomy,jobcreationandinfrastructure
development.
The Council alsohighlightedthe importance of protectinginclusive marketsfreefromexcessive pricing
and anti-competitive behaviour.
Followingextensive consultationandpartnershipinthe draftingof the blueprintforrebuildingand
growingthe economywithsustainability,resilience andinclusion,the SouthAfricanEconomic
ReconstructionandRecoveryPlanwill be finalisedata CabinetmeetingonWednesday,14October,
2020, before the PresidentpresentsittoParliament.
ENDS.
Tyrone Seale,ActingSpokespersontothe President –media@presidency.gov.za
ISSUED BY THE PRESIDENCYOF THE REPUBLIC OF SOUTH AFRICA
www.thepresidency.gov.za