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 September 2025

Notice No. 6769 of 2025
Purchase cart Previous page Return to chapter overview Next page

 

Notice No. 6769

30 October 2025

GG 53601

 

National Treasury

 

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

 

R thousand

Table

2025/26

2024/25

Budget

estimate

September

Year to date

Audited*

outcome

September

Year to date



 

 

 

 

 

 

Revenue1

1

1 949 408 686

 

 166 920 565

908 991 858

1 807 360 086

152 174 993

821 441 759

 

 

 

 

 

 

 

Expenditure1

2

2 310 729 739

182 276 320

1 139 538 104

2 144 645 329

156 560 169

1 077 446 009

 

 

 

 

 

 

 

Appropriation by vote

2

1 172 207 412

77 260 502

588 299 823

1 111 242 388

66 142 416

567 024 142

 

 

 

 

 

 

 

 

Direct charges against the NRF

2

1 114 810 583

105 015 818

551 238 281

1 033 402 941

90 417 753

510 421 867

Debt-service costs

 

426 345 611

47 023 575

206 093 827

385 843 718

38 078 626

190 269 795

Provincial equitable share

 

633 165 959

52 763 829

316 582 974

600 475 640

50 039 636

300 237 816

General fuel levy sharing with metropolitan municipalities

 

16 849 080

-

5 616 360

16 126 608

-

5 375 535

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

 

7 900 704

667 148

3 911 045

-

-

-

Skill Levy and SETAs

 

26 005 953

2 041 171

12 494 484

24 137 414

1 936 333

11 728 301

Other costs

 

4 543 276

2 520 095

6 539 591

6 819 561

363 158

2 810 420

Provisional allocation not assigned to votes

 

18 711 744

-

-

-

-

-

Contingency reserve

 

5 000 000

-

-

-

-

-

Main budget balance

 

(361 321 053)

(15 355 755)

(230 546 246)

(337 285 244)

(4 385 176)

(256 004 250)

 

 

 

 

 

 

 

 

Redemptions

4

(171 705 154)

(35 590 814)

(58 867 971)

(98 619 787)

(552 820)

(23 330 128)

 

 

 

 

 

 

 

 

Eskom debt-relief arrangement2

4

(80 223 000)

-

-

(64 000 000)

-

(8 000 000)

 

 

 

 

 

 

 

 

GFECRA settlement (net)3

4

25 000 000

-

-

100 000 000

-

100 000 000

 

 

 

 

 

 

 

 

Gross borrowing requirement

 

(588 249 207)

(50 946 569)

(289 414 217)

(399 905 031)

(4 937 996)

(187 334 378)

 

 

 

 

 

 

 

 

Financing of the net borrowing requirement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic short-term loans (net)

3

37 162 000

4 602 362

27 173 394

39 508 235

4 065 849

22 539 029

 

 

 

 

 

 

 

 

Domestic long-term loans (gross)

3

345 300 000

30 324 086

220 843 161

347 744 297

30 559 118

171 730 601

 

 

 

 

 

 

 

 

Foreign loans (gross)

3

98 873 872

8 234 340

45 662 621

67 356 714

-

-

 

 

 

 

 

 

 

 

Change in cash and other balances4

3

106 913 335

7 785 781

(4 264 959)

(54 704 216)

(29 686 971)

(6 935 252)

 

 

 

 

 

 

 

 

Total financing (gross)

 

588 249 207

50 946 569

289 414 217

399 905 031

4 937 996

187 334 378
1) The Gold and Foreign Exchange Contingency Reservce Account (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.
*)Audited Outcome except for Debt-service costs.