• 2024 Estimates of Revenue and Expenditure have been prepared in accordance with the Budget Policy Concept Paper.
• Cabinet also approved the declaration of critical minerals such as copper, cobalt, gold and sugilite.
• Cabinet approved hosting of the 19th Comprehensive Africa Agriculture Development Programme Partnership Platform.
Cabinet has approved the 2024 national budget which is expected to be presented in the National Assembly on 29th September, 2023.
In a statement, Chief Government Spokesperson Chushi Kasanda said the 2024 Estimates of Revenue and Expenditure have been prepared in accordance with The Budget Policy Concept Paper on the 2024-2026 Medium Term Budget Plan approved by Cabinet at its 11th Meeting held on 12th July, 2023.
Ms. Kasanda, who is also Information and Media Minister, stated tha Finance and national Planning Minister, Dr. Situmbeko Musokotwane, is expected to present the 2024 National Budget in line with Article 202 (1) of the Constitution of Zambia.
“The Minister of Finance and National Planning is expected to present the 2024 National Budget in the National Assembly on Friday, 29th September, 2023, in line with Article 202 (1) of the Constitution of Zambia,” Ms. Kasanda stated.
Meanwhile, Ms. Kasanda revealed that during the 15th Cabinet Meeting, held on Tuesday, 5th September, 2023, Cabinet also approved the declaration of critical minerals such as copper, cobalt, lithium, tin, graphite, coltan, manganese, nickel, Rare Earth Elements (REEs), gold, sugilite, emeralds, diamonds and other minerals which Government may deem as strategic minerals essential in accelerating Zambia’s development.
“The declaration of critical minerals, as strategic, will result in the formulation of the strategy on critical minerals which will stimulate Government and private sector participation in unlocking investments in the mineral value chain, thereby translating in the creation of more jobs as well as enhanced exploitation of the critical minerals to contribute significantly to the national treasury and to the country’s development,” she said.
She also disclosed that during the same meeting, Cabinet further approved the hosting of the 19th Comprehensive Africa Agriculture Development Programme Partnership Platform (CAADP-PP), to be held from 1st to 3rd November, 2023.
She explained that this is in line with Cabinet’s policy direction that Zambia should host as many international Conferences and Meetings, as a way to boost tourism.
“Zambia is repositioning itself to be a breadbasket of the region and meet the domestic and regional demand for food. The country has also embarked on diversifying its agricultural production.”
“Therefore, hosting the 19th CAADP-PP is important as it will provide Member States and other stakeholders with an opportunity to engage with one another as well as to share best African practices and leadership that have the potential to engender inclusive economic growth, benefit smallholder farmers, boost food production and end hunger across the African Continent,” Ms. Kasanda added.
Cabinet also approved Opening of a Resident Embassy in Abu Dhabi, United Arab Emirates, as well as in Doha, State of Qatar to enhance bilateral relations and promote political and economic cooperation.