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Definition

The National Treasury falls under the Ministry of Finance and is established in terms of section 13 of the Constitution to manage the government's finances. Through the Treasury the country's fiscal policy is implemented. It operates in terms of the Public Finance Management Act (1 of 1999 - PFMA). The Treasury manages and looks after the assets, liabilities, incomes and expenses of the government. As such it collects taxes and budgets for expenditures. It also raises funds by issuing and selling Treasury bonds to cover any budget deficit.

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