2.4 Local share of the nationally raised revenue Excluding conditional grants and the sharing of the general fuel levy, municipalities were allocated R37.9 billion or 3.9 per cent of the nationally raised revenue in the 2012/13 financial year. The local government equitable share increased by R5 billion or 15.2 per cent compared to a revised estimate of R32.9 billion in the 2011/12 financial year. Over the outer two years of the 2012 MTEF, the local share of the nationally raised revenue is estimated to increase by 7.5 per cent from R40.6 billion to R43.6 billion between the 2013/14 and the 2014/15 financial years.