Cabinet has approved the 2027 National Budget and two major trade measures aimed at driving economic growth and protecting local industry. Minister of Information and Media, Elvis Nkandu said this in a press statement issued to the media after the 3rd Cabinet Meeting of the…

Cabinet has approved the 2027 National Budget and two major trade measures aimed at driving economic growth and protecting local industry.

Minister of Information and Media, Elvis Nkandu said this in a press statement issued to the media after the 3rd Cabinet Meeting of the second term, held at State House on Friday 30th October, 2026 chaired by President Hakainde Hichilema.

Mr Nkandu, who is also Chief Government Spokesperson,  said Cabinet approved the 2027 Estimates of Revenue and Expenditure, including revenue mobilisation, public expenditure and structural reform measures for the 2027 fiscal year.

He said Cabinet noted that the country is on a positive economic trajectory and stressed that sustained macroeconomic stability will be critical in advancing the Grow Zambia Agenda, strengthening investor confidence and stimulating private sector involvement.

“Cabinet has called for prudent fiscal management in 2027 as Government translates the Grow Zambia Agenda into concrete programmes and activities,” he said

Meanwhile, the Cabinet has approved the signing of the Comprehensive Economic Partnership Agreement (CEPA) between Zambia and the United Arab Emirates (UAE).

Mr Nkandu said Cabinet also approved the establishment of an implementation, import-surveillance and periodic review mechanism for the agreement.

He explained that sustained private-sector growth requires access to larger external markets to support economies of scale, export diversification, technology transfer and integration into regional and global value chains.

“The UAE is an important commercial, logistics, investment and export hub. Therefore, a predictable bilateral framework can greatly improve the conditions under which Zambian exporters access the UAE market and provide a platform for attracting investment into productive sectors in Zambia,” Mr Nkandu said.

He said the CEPA is relevant to the Government’s growth agenda to achieve the eight-point development targets planned for the next five years in agriculture, energy, mining and tourism, and is expected to expand commercial opportunities subject to Zambia increasing its productive capacity and value addition.

The Cabinet has approved in principle the introduction of the Trade Remedies Bill, 2026 in Parliament.

Mr Nkandu said the Bill will provide mechanisms to strengthen the legal framework for trade remedies and will amend the Control of Goods Act and the Customs and Excise Act.

He said to maintain a viable Industrial sector amidst trade liberalisation, Zambia requires adequate legal and institutional frameworks that provide alert systems and defence mechanisms against unfair international trade practices.

“The new legislation seeks to provide for trade remedies under a single legislation, enhance the provisions with more and better administrative details and strengthen the laws by modernising the provisions and adding safeguards for a number of sectors,” he said.

He added that once enacted, the law will strengthen protection of domestic industry from unfair trade practices in line with World Trade Organisation guidelines.

The 2027 Budget will be presented to Parliament on Friday, 6th November 2026.