The cabinet on Sunday approved the establishment of a National Economics Council, headed by Prof. Manuel Trachtenberg, whose official title is economic adviser to Prime Minister Ehud Olmert.
The council will focus on consolidating policy initiatives, which promote growth, while narrowing social gaps. In addition, the council will be responsible for assisting and reviewing the state budget ahead of its submission to the Knesset, as well as proposing government policy on the labor market.
Olmert will also be appointing a panel to advise the council, consisting of leading economists in the private and public sectors and academia.
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