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

Notices

Statement of National Revenue, Expenditure and Borrowings

Statement of National Revenue, Expenditure and Borrowings as at 31 January 2025

Notice No. 3026 of 2025

 

Notice No. 3026

28 February 2025

GG 52204

 

National Treasury

 

The statement of actual revenue, expenditure and borrowings with regard to the National Revenue Fund as at the end of January 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 31 January 2025

 

R thousand

Table

2024/25

2023/24

Revised

estimate

January

Year to date

Audited

outcome

January

Year to date



 

 

 

 

 

 

Revenue1

1

1 797 368 359

126 084 720

1 405 998 808

1 724 002 884

116 787 141

1 350 289 271

 

 

 

 

 

 

 

Expenditure1

2

2 153 002 245

188 761 113

1 753 844 733

2 046 918 929

179 203 941

1 697 345 889

 

 

 

 

 

 

 

Appropriation by vote

2

1 119 194 391

74 669 474

922 575 859

1 062 048 614

70 319 404

891 536 877

 

 

 

 

 

 

 

Direct charges against the NRF

2

1 036 721 948

114 091 639

831 268 872

984 870 315

108 884 537

805 809 012

Debt-service costs

 

388 854 277

61 210 447

294 309 151

356 109 897

57 364 651

277 715 294

Provincial equitable share

 

600 475 640

50 039 636

500 396 360

585 085 919

49 019 544

494 563 935

General fuel levy sharing with metropolitan municipalities

 

16 126 608

-

10 751 070

15 433 498

-

10 288 998

Skill Levy and SETAs

 

24 493 292

2 132 128

19 937 811

22 424 463

2  043 160

18 610 953

Other costs

 

6 772 131

709 428

5 874 480

5 316 676

457 182

4 127 828

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

National government projected underspending

 

(914 094)

-

-

-

-

-

Local government repayment to National Revenue Fund

 

(2 000 000)

-

-

-

-

 

Main budget balance

 

(355 633 886)

(62 676 393)

(347 845 925)

(322 916 045)

(62 416 800)

(347 056 618)

 

 

 

 

 

 

 

 

Redemptions

4

(104 950 737)

(63 920 651)

(97 452 674)

(144 394 798)

(37 761 473)

(143 607 406)

 

 

 

 

 

 

 

 

Eskom debt-relief arrangement2

4

(64 154 000)

-

(8 000 000)

(76 000 000)

-

(44 000 000)

 

 

 

 

 

 

 

 

GFECRA settlement (net)3

4

100 000 000

-

100 000 000

-

-

-

 

 

 

 

 

 

 

 

Gross borrowing requirement

 

(424 738 623)

(126 597 044)

(353 298 596)

(543 310 843)

(100 178 273)

(534 664 026)

 

 

 

 

 

 

 

 

Financing of the net borrowing requirement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic short-term loans (net)

3

33 000 000

(1 859 232)

26 271 721

88 744 698

13 554 468

108 305 221

 

 

 

 

 

 

 

 

Domestic long-term loans (gross)

3

305 100 491

25 046 028

293 720 474

336 238 898

21 555 933

282 437 515

 

 

 

 

 

 

 

 

Foreign loans (gross)

3

53 792 046

-

63 381 850

45 662 970

18 754 100

33 739 780

 

 

 

 

 

 

 

 

Change in cash and other balances4

3

32 846 086

103 410 248

(30 075 448)

72 664 277

46 313 772

110 181 510

 

 

 

 

 

 

 

 

Total financing (gross)

 

424 738 623

126 597 044

353 298 596

543 310 843

100 178 273

534 664 026
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.