Press statement14 Sep 2023 13:15
Ministry of Information and Media - Zambia
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PRESS STATEMENT BY THE CHIEF GOVERNMENT SPOKESPERSON ON THE DECISIONS MADE BY CABINET AT THE 15TH CABINET MEETING HELD ON TUESDAY, 5TH SEPTEMBER, 2023.
The President of the Republic of Zambia, Mr. Hakainde Hichilema, called for the 15th Cabinet Meeting in the Year 2023, on Tuesday, 5th September, 2023, at State House, where the Draft 2024 Budget was deliberated on including other policy issues.
Cabinet made the following decisions:
1. The 2024 National Budget:
Cabinet approved the Estimates of Revenue and Expenditure (The National Budget) for the Year 2024.
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 which was approved by Cabinet at its 11th Meeting held on 12th July, 2023.
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.
2. Declaration of Critical Minerals as Strategic Minerals for Zambia’s Development.
Cabinet 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.
3. Opening of Missions Abroad:
(a) Opening of a Resident Embassy in Abu Dhabi, United Arab Emirates.
During the Meeting, Cabinet also deliberated on matters of foreign relations. One of the issues approved by Cabinet was the Opening of a Resident Embassy in Abu Dhabi, the United Arab Emirates (UAE) in order to enhance bilateral relations and promote economic and political cooperation between Zambia and the UAE.
The United Arab Emirates, is a federation of seven Emirates. The constituent emirates are Abu Dhabi (which serves as the capital), Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, and Umm al-Quwain. Each emirate is governed by an absolute monarch who jointly form the Federal Supreme Council. One of the monarchs is selected as the President of the United Arab Emirates.
The UAE’s oil reserves are the seventh-largest in the world, while its natural gas reserves are the world’s seventeenth-largest. The UAE's economy is the most diversified in the Gulf Cooperation Council, with its most populous city of Dubai eme