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

Notices

Statement of National Revenue, Expenditure and Borrowings

2025 Statements

Statement of National Revenue, Expenditure and Borrowings as at 30 June 2025

Notice No. 3402 of 2025
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Notice No. 3402

30 July 2025

GG 53091

 

National Treasury

 

The statement of actual revenue, expenditure and borrowings with regard to the National Revenue Fund as at the end of June 2025/2026 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 June 2025

 

R thousand

Table

2025/26

2024/25

Budget

estimate

June

Year to date

Preliminary

outcome

June

Year to date



 

 

 

 

 

 

Revenue1

1

1 949 408 686

 

 212 686 971

 454 116 354

1 807 360 085

200 902 609

418 081 065

 

 

 

 

 

 

 

Expenditure1

2

2 310 729 739

163 937 751

480 112 618

2 144 100 680

162 350 501

470 354 757

 

 

 

 

 

 

 

Appropriation by vote

2

1 172  207 412

78 244 828

266 245 482

1 110 697 986

80 214 842

269 140 505

 

 

 

 

 

 

 

 

Direct charges against the NRF

2

1 114 810 583

85 692 923

213 867 136

1 033 402 694

82 135 659

201 214 252

Debt-service costs

 

426 345 611

29 564 617

45 699 884

385 822 134

29 639 895

43 849 243

Provincial equitable share

 

633 165 959

52 763 829

158 291 487

600 475 640

50 039 636

150 118 908

General fuel levy sharing with metropolitan municipalities

 

16 849 080

-

-

16 126 608

-

-

Public-sector-related pension, post-retirement medical and other benefits

 

7 900 704

650 315

1 941 041

-

-

-

Skill Levy and SETAs

 

26 005 953

2 075 937

6 325 268

24 137 413

1 893 979

5 871 978

Other costs

 

4 543 276

638 225

1 609 456

6 840 899

562 149

1 374 123

Provisional allocation not assigned to votes

 

18 711 744

-

-

-

-

-

Contingency reserve

 

5 000 000

-

-

-

-

-

Main budget balance

 

(361 321 053)

48 749 221

(25 996 263)

(336 740 596)

38 552 108

(52 273 692)

 

 

 

 

 

 

 

 

Redemptions

4

(171 705 154)

(413 290)

(12 967 924)

(98 619 787)

(810 875)

(12 582 982)

 

 

 

 

 

 

 

 

Eskom debt-relief arrangement2

4

(80 223 000)

-

-

(64 000 000)

(8 000 000)

(8 000 000)

 

 

 

 

 

 

 

 

GFECRA settlement (net)3

4

25 000 000

-

-

100 000 000

-

-

 

 

 

 

 

 

 

 

Gross borrowing requirement

 

(588 249 207)

48 335 931

(38 964 187)

(399 360 383)

29 741 233

(72 856 674)

 

 

 

 

 

 

 

 

Financing of the net borrowing requirement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic short-term loans (net)

3

37 162 000

5 297 789

12 262 652

39 508 235

(17 238 326)

10 165 590

 

 

 

 

 

 

 

 

Domestic long-term loans (gross)

3

345 300 000

35 892 857

110 242 639

347 744 297

26 848 670

79 009 558

 

 

 

 

 

 

 

 

Foreign loans (gross)

3

98 873 872

-

-

67 356 714

-

-

 

 

 

 

 

 

 

 

Change in cash and other balances4

3

106 913 335

(89 526 577)

(83 541 104)

(55 248 864)

(39 351 577)

(16 318 474)

 

 

 

 

 

 

 

 

Total financing (gross)

 

588 249 207

(48 335 931)

38 964 187

399 360 383

(29 741 233)

72 856 674
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.
*)Figures for the month of March, prior year have been adjusted to be in line with Audited Outcome.