Based on preliminary estimates by the South African Revenue Service, revenue of R216,8 billion accrued to the National Revenue Fund during the year ending 31 March 2001. This is R3,4 billion more than the revised estimate published in February in the 2001 Budget Review and is 9,2 per cent more than the comparable figure for 1999/00.
This comprises ordinary revenue of R219,7 billion collected by SARS, departmental receipts of R4,2 billion and skills development levy receipts of R1,2 billion, less R8,4 billion transferred to other countries in terms of the SA Customs Union agreement.
At this stage total expenditure for the 2000/01 financial year is expected to be R233,6 billion, which is R1,5 billion less than the February revised estimate. The preliminary estimate of the National Revenue Fund deficit of R16,8 billion amounts to 1,9 per cent of GDP.