Mbwoweni is also expected to announce the latest GDP projections and tax revenue shortfalls for 2020. 

Economists expect SA's economy to contract by anywhere between 6% and 12% this year, a fall last seen during the Great Depression. 

In May, meanwhile, the commissioner of the SA Revenue Service, Edward Kieswetter, warned that the combined impact of SA's struggling economy and the nationwide lockdown could mean a loss of up to R285 billion in tax revenues. 

"Of all the lieutenants of the Mbeki administration that met its end after the ANC elective conference on that cold and rainy weekend in the height of summer in Polokwane some 13 years ago, no-one carried the "aloof" tag as much as Tito Mboweni."

Read Fin24 Editor's Ron Derby's take on the finance minister below. 

Much of Mboweni's budget is expected to focus on how the government intends to 'reprioritise' R130 billion in spending. 

This R130 billion forms part of the R500 billion stimulus package announced by President Cyril Ramaphosa. 

Read Fin24's overview of what to expect below. 

The minister's address will start at 3pm and is expected to last an hour. Treasury has said the speech will be delivered "virtually". 

After the speech, the minister will immediately head into a media briefing.  

Four months after he delivered his budget address to a Parliament, Finance Minister Tito Mboweni will on Wednesday afternoon deliver a supplementary budget address, brought about by the economic shock caused by the coronavirus pandemic.  

The main focus of the address will how the state will budget the R500 billion support package announced by President Cyril Ramaphosa to bolster the economy, 

Fin24 will be writing up the finance minister's address in real time.