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 December 2024

Notice No. 2980 of 2024
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Notice No. 2980

30 January 2025

GG 52018

 

National Treasury

 

The statement of actual revenue, expenditure and borrowings with regard to the National Revenue Fund as at the end of December 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 December 2024

 

R thousand

Table

2024/25

2023/24

Revised

estimate

December

Year to date

Audited

outcome

December

Year to date



 

 

 

 

 

 

Revenue1

 

1 797 368 359

209 688 088

1 279 914 088

1 724 002 884

217 013 083

1 233 502 130

 

 

 

 

 

 

 

Expenditure1

 

2 153 002 245

188 304 022

1 565 083 618

2 046 918 929

192 572 611

1 518 141 948

 

 

 

 

 

 

 

Appropriation by vote

2

1 119 194 391

101 300 668

847 906 385

1 062 048 614

103 255 996

821 217 473

 

 

 

 

 

 

 

Direct charges against the NRF

2

1 036 721 948

87 003 354

717 177 233

984 870 315

89 316 615

696 924 475

Debt-service costs

 

388 854 277

28 918 678

233 098 704

356 109 897

32 343 987

220 350 643

Provincial equitable share

 

600 475 640

50 039 636

450 356 724

585 085 919

49 434 821

445 544 391

General fuel levy sharing with metropolitan municipalities

 

16 126 608

5 375 535

10 751 070

15 433 498

5 144 499

10 288 998

Skill Levy and SETAs

 

24 493 292

2 050 786

17 805 683

22 424 463

1 934 051

16 567 793

Other costs

 

6 772 131

618 719

5 165 052

5 316 676

459 257

3 670 646

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)

21 384 066

(285 169 530)

(322 916 045)

24 440 472

(284 639 818)

 

 

 

 

 

 

 

 

Redemptions

4

(104 950 737)

(280 537)

(33 532 023)

(144 394 798)

(90 989 542)

(105 845 933)

 

 

 

 

 

 

 

 

Eskom debt-relief arrangement2

4

(64 154 000)

-

(8 000 000)

(76 000 000)

(8  000 000)

(44 000 000)

 

 

 

 

 

 

 

 

GFECRA settlement (net)3

4

100 000 000

-

100 000 000

-

-

-

 

 

 

 

 

 

 

 

Gross borrowing requirement

 

(424 738 623)

21 103 529

(226 701 552)

(543 310 843)

(74 549 070)

(434 485 752)

 

 

 

 

 

 

 

 

Financing of the net borrowing requirement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic short-term loans (net)

3

33 000 000

4 281 823

28 130 953

88 744 698

11 339 345

94 750 753

 

 

 

 

 

 

 

 

Domestic long-term loans (gross)

3

305 100 491

22 989 762

268 674 446

336 238 898

24 539 516

260 881 582

 

 

 

 

 

 

 

 

Foreign loans (gross)

3

53 792 046

-

63 381 850

45 662 970

5 517 480

14 985 680

 

 

 

 

 

 

 

 

Change in cash and other balances4

3

32 846 086

(48 375 114)

(133 485 696)

72 664 277

33 152 729

63 867 737

 

 

 

 

 

 

 

 

Total financing (gross)

 

424 738 623

(21 103 529)

226 701 552

543 310 843

74 549 070

434 485 752
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.