Sunday, March 3, 2024

Cabinet Approves 2024 National Budget and Strategic Minerals Declaration

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Cabinet has given its stamp of approval to the 2024 National Budget ahead of its presentation to Parliament, marking a significant step in the country’s fiscal planning. The announcement was made as part of a series of decisions made during the latest Cabinet session on September 5th, underlining the government’s commitment to economic development and strategic mineral management.

Finance and National Planning Minister Situmbeko Musokotwane is set to present the 2024 National Budget to Parliament on September 29th, following Cabinet’s endorsement. The budget is expected to outline the government’s fiscal policies and priorities for the coming year.

The budget preparation process adhered to the principles laid out in The Budget Policy Concept Paper on the 2024-2026 Medium Term Budget Plan, which received Cabinet approval in July 2023. This ensures that the budget aligns with the government’s long-term economic goals and development strategies.

In another significant development, Cabinet has declared critical minerals such as copper, cobalt, lithium, tin, graphite, coltan, manganese, rare earth elements, gold, Sugilite, emeralds, and diamonds as strategic minerals. This declaration is a strategic move aimed at accelerating Zambia’s economic development.

The strategic minerals declaration will pave the way for the formulation of a comprehensive strategy, involving both the government and the private sector. This strategy is expected to promote the sustainable exploitation of critical minerals, leading to job creation and substantial contributions to the national treasury, thus bolstering the country’s overall development.

Furthermore, the Cabinet has approved the establishment of Zambian embassies in the United Arab Emirates and Qatar. This decision aims to strengthen bilateral relations and foster economic and political cooperation in the Middle East, a region known for its significant oil production.

Lastly, Zambia is set to host the 19th Comprehensive Africa Agriculture Development Programme Partnership Platform from November 1st to 3rd, 2023. This event underscores Zambia’s commitment to agricultural development and its role in the broader African context.

This information was conveyed in a statement issued by Chief Government Spokesperson Chushi Kasanda.

6 COMMENTS

    • Grown men with a small god complex. Why is it that none of you can be presidents of your party except Lungu? Men with tiny wands.

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    • You will get your 1.8 million voters like in 2016 and 2021 of thugs, street vendors, marketeers etc.
      Unfortunately it wont be enough surpass HH”s 2 million plus voters of rural population,, farmers, students, legit entrepreneurs.

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    • As far as my experience in Zambia goes bakawalala includes PF. UPND. MMD, UNIP. These are the parties that have ruled us and stolen all our taxes in the form of unearned salaries and fat allowances, deals or corruption, and bullying of opposition

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  1. You can have one million meetings and announce the discussion to the public. But if it doesn’t translate into reality it will be simple rhetory and theory.
    Don’t try to cool our anger with words. Lobola is in cash not in flattering.

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