Cabinet Approves Draft 2025 National Baudget

Cabinet has approved the draft 2025 national budget, which is expected to be presented in Parliament this Friday.

Chief Government spokesperson Cornelius Mweetwa says draft budget was approved during Cabinet’s 17th sitting held on 19th and 20th September, 2024.

In a statement, Mr. Mweetwa, who is also Minister of Information and Media states that the Draft budget has taken into consideration the inputs from stakeholders from various sections of society.

He adds that the 2025 Estimates of Revenue and Expenditure have been prepared in accordance with the medium-term strategic focus as espoused in the Green Paper on the 2025 to 2027 Medium Term Budget Plan, recently approved by Cabinet at its 13th meeting.

Mr. Mweetwa further says in the context of the drought, alongside resumption of external debt repayment, Cabinet emphasized that it is necessary to undertake the revenue and Expenditure measures contained in the 2025 budget with the overall aim of growing the economy.

Minister of Finance and National Planning Dr. Situmbeko Musokotwane, is expected to present the 2025 national budget in the National Assembly on Friday, 27th September, 2024.

And Mr. Mweetwa revealed that during the same meeting, Cabinet also approved the suspension of Customs Duty and Surtax on importation of Copper cathodes.

“This is in order to make copper cathodes sell to local copper processors at a price lower than the London Metal Exchange (LME) price.

“Currently, local copper processors pay the same LME price for copper cathodes as international buyers. This price includes extra charges such as inland transportation and security, which are unnecessary for local sales,” Mr. Mweetwa asserted.

Meanwhile, Mr. Mweetwa said Cabinet has further approved in principal to the introduction of a Bill in Parliament to amend the Anti -Corruption Act No 3 of 2012, to align it with the National Policy on Anti-Corruption.