The government on Monday appointed Andreas Charalambous as the new head of the Fiscal Council.

Charalambous replaces Michalis Persianis, who had held the position since 2022. Persianis is leaving before his six-year term is up.

The new head of the Fiscal Council holds a PhD in economics. He had previously worked for a number of years at the finance ministry and also served as head of the Securities and Exchange Commission.

An advisory body, the Fiscal Council consists of three members appointed by the cabinet after consultation with the House finance committee.

According to its website, its mission is “the timely and effective public intervention aimed at the avoidance of a fiscal derailment that will entail the adoption of socially painful measures, and that could be avoided by effective fiscal management that includes counter-cyclical and macro-prudential policies.”