The German Council of Economic Experts
The German Council of Economic Experts (Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung) is an academic body which advises the German Government and Parliament on economic policy issues. It was set up by law in 1963 with a mandate to periodically assess overall economic developments in the Federal Republic of Germany and to help economic policy makers at all levels as well as the general public to arrive at informed judgements on economic matters. It enjoys complete independence in respect of its advisory activities. It is the Council's duty to analyse the current economic situation and its likely development and also to investigate ways and means of concurrently ensuring - within the framework of the free market economy - price stability, high employment, external equilibrium, plus steady and adequate economic growth. In line with its legal mandate, the Council compiles and publishes an Annual Report (in mid- November) as well as ad hoc Special Reports in order to address particular problems or in response to a request from the Government. The German Council of Economic Experts consists of five members. They are nominated by the German Government and appointed by the German President for a term of five years.
The Council is currently composed of the following members: