President to chair 11-member Economic Council weekly

President Gotabaya Rajapaksa

The Cabinet of Ministers at its meeting on Monday approved President Rajapaksa’s proposal for the 11-member Economic Council to meet weekly to speed up the economic development of the country.

The council is chaired by President Rajapaksa and others include; Prime Minister Mahinda Rajapaksa, Finance Minister Basil Rajapaksa, Trade Minister Bandula Gunawardena, Highways Minister Johnston Fernando, Agriculture Minister Mahindananda Aluthgamage, Plantation Industries Minister Dr. Ramesh Pathirana, Central Bank Governor Nivard Cabraal, Treasury Secretary S.R. Attygalle, Central Bank Deputy Governor Dhammika Nanayakkara and Secretary to the President Gamini Senarath.

The Economic Council is tasked with discussing the local economic policies in depth and managing the overall economy of the country. They include; macroeconomic policies, behaviour of the national economy post-COVID, economic restructuring as well as the major development projects that directly affect both economic and financial policies of the Government.

Relevant ministries, departments and statutory institutions will implement decisions subject to the approval of the Cabinet of Ministers as and when required, in accordance with the approval of the said council. 

It is also empowered to invite intellects with esteem/standard in the respective fields as required for the meetings of the economy board.