Department of National Treasury Republic of Sout : Statement of the National Revenue, Expenditure and Borrowing as at 31 December 2016

STATEMENT OF THE NATIONAL AND PROVINCIAL GOVERNMENTS' REVENUE, EXPENDITURE AND NATIONAL BORROWING AS AT 31 DECEMBER 2016 ISSUED BY THE DIRECTOR-GENERAL: NATIONAL TREASURY

The following statements of revenue, expenditure and borrowing are published in terms of Section 32 of the Public Finance Management Act of 1999 and Section 31 (2) of the Division of Revenue Act No 3 of 2016 as amended.

The information on the budget has not been updated to provide details of the Revised Estimates tabled in Parliament on 26 October 2016.

Extraordinary receipts and payments which were previously published in Table 3 are now brought into the budget framework in line with global standards, in particular the International Monetary Fund's Government Finance Statistics Manual 2014 and are now referred to as National Revenue Fund receipts and payments (refer to Annexure W2 of the 2016 Budget Review). Detailed information on these transactions is provided in Table 5.

Figures reflected for 2015/16 have been audited with the exception of Home Affairs.

National government revenue and expenditure are detailed in Tables 1 and 2, respectively. The tables below indicate revenue and expenditure for the reporting month, together with comparable figures for the previous year.

Revenue and expenditure for the fiscal year to date are also expressed as a percentage of the 2016/17 budget for the current year and audited outcome for 2015/16.

Revenue
Fiscal Year	December	Year to date	% of Budget estimate/
R million	Audited outcome
2016/17	143 147	814 920	70.1
2015/16	141 086	768 231	71.4

Expenditure
Fiscal Year	December	Year to date	% of Budget estimate/
R million	Audited outcome
2016/17	120 490	961 380	72.9
2015/16	108 458	905 117	72.7

Expenditure as per economic classification
Description	December	December	December
R million	2016	2015	Per cent 1)
Voted funds
Current payments	16 656	16 732	(0.5)
Transfers and subsidies	46 752	31 959	46.3
Payments for capital assets	966	1 628	(40.7)
Payments for financial assets	1	5 003	(100.0)
Total voted funds	64 374	55 321	16.4
Direct charges
Current payments	16 795	16 390	2.5
Transfers and subsidies	39 291	36 747	6.9
Payments for financial assets	29	-	-
Total direct charges	56 115	53 137	5.6
Total expenditure	120 490	108 458	11.1
1) Percentage change year on year

Table 3 sets out the net financing for the reporting month compared with the preliminary outcome for the same reporting month in the previous year. The following table contains a summary of information relating to total financing (net):

Financing
Description	December	December
R million	2016	2015
Domestic short-term loans	(581)	(3 454)
Domestic long-term loans	8 475	9 510
Foreign loans	-	-
Change in cash and other balances 1)	(30 550)	(38 684)
Total financing (net)	(22 657)	(32 627)
1) A positive/negative change indicates a reduction/increase in cash balances respectively

A cash flow schedule for the Exchequer Account is included as Table 4, summarising exchequer revenue to and departmental requisitions from the National Revenue Fund. These flows differ from the actual receipts and outlays in Tables 1 and 2, mainly because of timing differences between the cashbook transactions of departments and the South African Revenue Services.

Tables 1-5 are available on the website of the National Treasury at www.treasury.gov.za; click on the Communications & Media link - Press Releases - Monthly Press Releases.

The following provincial statements are included for each of the nine provinces:

• Provincial Revenue Fund; and

• Transfers and actual expenditure for conditional grants, published in terms of Section 31(2) of the Division of Revenue Act No 3 of 2016 as amended.

Care should be taken when using the national and provincial information, as timing differences in recording transfers between the different spheres could result in the incorrect consolidation of revenue and expenditure information. The head of the relevant provincial treasury furnished the information on provincial revenue funds.

For the attached tables in Excel format, contact Ms M Bereda [phone] [e-mail]