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. 3103 of 2025
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Notice No. 3103

28 February 2025

GG 52417

 

National Treasury

 

The statement of actual revenue, expenditure and borrowings with regard to the National Revenue Fund as at the end of February 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 28 February 2025

 

R thousand

Table

2024/25

2023/24

Revised

estimate

February

Year to date

Audited

outcome

February

Year to date



 

 

 

 

 

 

Revenue1

1

1 797 368 359

202 521 435

1 608 520 244

1 724 002 884

187 130 756

1 537 420 026

 

 

 

 

 

 

 

Expenditure1

2

2 153 002 245

178 306 261

1 932 150 993

2 046 918 929

166 346 990

1 863 692 878

 

 

 

 

 

 

 

Appropriation by vote

2

1 119 194 391

76 604 764

999 180 623

1 062 048 614

69 803 499

961 340 376

 

 

 

 

 

 

 

 

Direct charges against the NRF

2

1 036 721 948

101 701 497

932 970 370

984 870 315

96 543 491

902 352 502

Debt-service costs

 

388 854 277

49 194 518

343 503 670

356 109 897

44 313 071

322 208 365

Provincial equitable share

 

600 475 640

50 039 636

550 435 996

585 085 919

49 650 540

544 214 475

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

2 224 549

22 162 360

22 424 463

1 986 467

20 597 420

Other costs

 

6 772 131

242 793

6 117 274

5 316 676

593 413

4 721 241

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 Adjustment

 

 

 

 

 

 

 

National government projected underspending

 

(914 094)

-

-

-

-

-

Local government repayment to National Revenue Fund

 

(2 000 000)

-

-

-

-

 

Main budget balance

 

(355 633 886)

24 215 174

(323 630 749)

(322 916 045)

20 783 766

(326 272 852)

 

 

 

 

 

 

 

 

Redemptions

4

(104 950 737)

(346 836)

(97 799 510)

(144 394 798)

(356 101)

(143 963 507)

 

 

 

 

 

 

 

 

Eskom debt-relief arrangement2

4

(64 154 000)

(16 000 000)

(24 000 000)

(76 000 000)

(14 000 000)

(58 000 000)

 

 

 

 

 

 

 

 

GFECRA settlement (net)3

4

100 000 000

-

100 000 000

-

-

-

 

 

 

 

 

 

 

 

Gross borrowing requirement

 

(424 738 623)

7 868 339

(345 430 258)

(543 310 843)

6 427 665

(528 236 361)

 

 

 

 

 

 

 

 

Financing of the net borrowing requirement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic short-term loans (net)

3

33 000 000

7 628 811

33 910 532

88 744 698

(8 526 722)

99 778 499

 

 

 

 

 

 

 

 

Domestic long-term loans (gross)

3

305 100 491

25 806 428

319 526 902

336 238 898

26 312 990

308 750 505

 

 

 

 

 

 

 

 

Foreign loans (gross)

3

53 792 046

-

63 381 850

45 662 970

10 243 800

43 983 580

 

 

 

 

 

 

 

 

Change in cash and other balances4

3

32 846 086

(41 313 578)

(71 389 025)

72 664 277

(34 457 733)

75 723 777

 

 

 

 

 

 

 

 

Total financing (gross)

 

424 738 623

(7 868 339)

345 430 258

543 310 843

(6 427 665)

528 236 361
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.