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President sets up Economic Experts Council
2003-05-29 13:43:57

Nicosia, May 28 (CNA) - Cyprus President Tassos Papadopoulos has decided to set up a nine-member Economic Experts Council under former President of the House of Representatives Alexis Galanos, which will advise and report directly to the President of the Republic.

The decision was announced by Galanos himself after a meeting with President Papadopoulos, and said ''our effort is to assist and complement the work of the government and help the local economy'', noting that the Council will deal with issues prescribed to it by the President himself.|

He said the Council would comprise ''personalities from the private sector and report directly to the President and the Minister of Finance''. He said the members would be working without pay.

The Council will advise the President on economic policy issues, crises handling and financial decision-making, aiming at assisting and implementing the government's ecoomic programme.

It will also propose and examine economic issues by virtue of its office with the consent of the President, and will submit reports to the President of the Republic and the Minister of Finance.

Council meetings will be attended ex officio by the Director General of the Planning Bureau and the Director of the Economic Research and Studies Department of the Ministry of Finance.

Galanos said ''our economy is at a difficult crossroads indeed'' and expressed hope that the Council would honour the trust shown to its members by the President.


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