The National Economic Council (NEC) was established to seek input from stakeholders to support the formulation of policies that encourage socioeconomic growth.

The council will appoint an advisory board to focus on economic, social, environmental and civil society aspects involving local and global experts. A separate industrial and business advisory group will involve the participation of business leaders, entrepreneurs, industrialists and SMEs.

The council’s duties include advising the government on matters relating to economic policy and policy formulation, coordinating with relevant institutions, reviewing existing institutional structures, efficient implementation of policies and proper monitoring.

NEC Secretary General and Chief Economist Professor Lalith Samarakoon states that the broader goal of the council is to ensure the introduction of policies and proposals that are critical for sustainable socioeconomic prosperity.