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Public Finance Management Act, 1999 (Act No. 1 of 1999)

Notices

Statement of National Revenue, Expenditure and Borrowings as at 30 November 2024

Notice No. 2923 of 2024

 

Notice No. 2923

30 December 2024

GG 51942

 

National Treasury

 

The statement of actual revenue, expenditure and borrowings with regard to the National Revenue Fund as at the end of November 2024/2025 fiscal year is hereby published in terms of section 32(1) of the Public Finance Management Act, 1999.

Detailed information is available on the website of the National Treasury at www.treasury.gov.za click the Communications & Media link - Press Releases - Monthly Press Releases

 

Summary table of national revenue, expenditure and borrowing for the month ended 30 November 2024

 

R thousand

Table

2024/25

2023/24

Revised

estimate

November

Year to date

Audited

outcome

November

Year to date



 

 

 

 

 

 

Revenue1

 

1 797 368 359

136 331 858

1 070 226 000

1 724 002 884

121 950 096

1 016 489 045

 

 

 

 

 

 

 

Expenditure2

 

2 153 002 245

140 796 157

1 376 779 596

2 046 918 929

138 115 544

1 325 569 337

 

 

 

 

 

 

 

Appropriation by vote

2

1 102 797 940

83 692 734

746 605 717

1 062 048 614

80 250 620

717 961 477

 

 

 

 

 

 

 

Direct charges against the NRF

2

1 027 598 529

57 103 423

630 173 879

984 870 315

57 864 924

607 607 860

Debt-service costs

 

382 182 875

4 339 723

204 180 026

356 109 897

6 266 999

188 006 656

Provincial equitable share

 

600 475 640

50 039 636

400 317 088

585 085 919

49 434 821

396 109 570

General fuel levy sharing with metropolitan municipalities

 

16 126 608

-

5 375 535

15 433 498

-

5 144 499

Skill Levy and SETAs

 

24 500 269

1 996 762

15 754 897

22 424 463

1 821 594

14 633 742

Other costs

 

4 313 137

727 302

4 546 333

5 316 676

341 509

3 211 389

Payments in terms of Section 70 of the PFMA

 

-

-

-

499 863

-

502 003

Land and Agriculture Development Bank of South Africa

 

-

-

-

499 863

-

502 003

MTBPS Adjustments

 

25 519 870

 

 

 

 

-

National government projected underspending

 

(914 094)

-

-

-

-

-

Local government repayment to National Revenue Fund

 

(2 000 000)

-

-

-

-

 

Main budget balance

 

(355 633 886)

(4 464 299)

(306 553 596)

(322 916 045)

(16 165 448)

(309 080 292)

 

 

 

 

 

 

 

 

Redemptions

4

(104 950 737)

(748 772)

(33 251 486)

(144 394 798)

(628 076)

(14 856 391)

 

 

 

 

 

 

 

 

Eskom debt-relief arrangement2

4

(64 154 000)

-

(8 000 000)

(76 000 000)

-

(36 000 000)

 

 

 

 

 

 

 

 

GFECRA settlement (net)3

4

100 000 000

-

100 000 000

-

-

-

 

 

 

 

 

 

 

 

Gross borrowing requirement

 

(424 738 623)

(5 213 071)

(247 805 082)

(543 310 843)

(16 793 524)

(359 936 683)

 

 

 

 

 

 

 

 

Financing of the net borrowing requirement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic short-term loans (net)

3

33 000 000

4 816 465

23 849 130

88 744 698

18 220 173

83 411 408

 

 

 

 

 

 

 

 

Domestic long-term loans (gross)

3

305 100 491

39 522 124

245 684 684

336 238 898

47 407 967

236 342 066

 

 

 

 

 

 

 

 

Foreign loans (gross)

3

53 792 046

63 381 850

63 381 850

45 662 970

-

9 468 200

 

 

 

 

 

 

 

 

Change in cash and other balances4

3

32 846 086

(102 507 368)

(85 110 581)

72 664 277

(48 834 616)

30 715 009

 

 

 

 

 

 

 

 

Total financing (gross)

 

424 738 623

5 213 071

247 805 082

543 310 843

16 793 524

359 936 683
1) The GFECRA cash receipt and requisition of cash recorded in Table 4 is not included in revenue and expenditure as the budget position presents the net of the cash flows related to balance sheet transactions. These transactions are recorded as part of Changes of cash and other balances.
2) Loan advance by National Treasury to Eskom in terms of the Eskom Debt Relief Act, 2023 (Act No.7 of 2023).
3) The Gold and Foreign Exchange Contingency Reserve Account Defrayal Amendment Act, Act No 27 of 2024 refers. In 2024/25, the Reserve Bank will pay R200 billion to government in partial settlement of the GFECRA balances. Of this amount government paid the Reserve Bank R100 billion towards the Reserve Banks contingency reserve requirements, as a direct charge against the National Revenue Fund. The balance of the GEFECRA receipt is recorded on the balance sheet as a reduction in the financing requirement of R100 billion.
4) A negative value indicates an increase in cash and other balances. A positive value indicates that cash is used to finance part of the borrowing requirement.