Finance Minister Pravin Gordhan will spend the afternoon in Parliament setting out the broad fiscal framework and spending plans over the next three years.
His Medium-Term Budget Policy Statement begins at 2pm and will outline the country's financial situation amid a cloud of political uncertainty.
It is said that Gordhan faces a tough balancing act with presenting a budget that must boost the ailing economy, reduce state spending and minimise debt, despite the controversy of fraud charges shadowing him.
WATCH LIVE: Gordhan to deliver mid term budget speech
At the same time, the Finance Minister is set to answer to fraud charges brought against him by the National Prosecuting Authority (NPA) in court on 2 November.
Dozens of economists, politicians, civil bodies and business leaders have shown their support for Gordhan, calling for a stop to politically motivated prosecutions.