Cabinet Approves Budget, Other Key Policy Measures

Cabinet ministers have approved the 2025 National Budget, which Finance Minister Situmbeko Musokotwane will present to the National Assembly on Friday.

According to government spokesperson Cornelius Mweetwa, “The 2025 Budget includes crucial revenue and expenditure measures aimed at growing the economy, despite the fiscal challenges.”

Ministers met for a special two-day session last week to approve the budget and several other key policy measures aimed at fostering economic growth and safeguarding democracy.

Among these was a decision to suspend customs duties and surtax on the import of copper cathodes, helping local Zambian processors to purchase the metal at a lower price than the international rate set by the London Metal Exchange. This will make Zambian copper processors more competitive and contribute to teh country’s medium-term economic growth.

In addition, cabinet approved amendments to the Ant-Corruption Act of 2012, aligning the legislation more closely with the National Policy on Anti-Corruption and the country’s constitution. The amendments introduce stricter penalties for corruption, improve prevention measures and enhance the Anti-Corruption Commission (ACC)’s investigative and enforcement powers. The goal of the amenmdents is to bolster transparency and accountability across both the public and private sectors so that public money is more effectively managed and conserved.