Minister of Finance Tito Mboweni File photo: Phando Jikelo/African News Agency(ANA)

Cape Town - Finance Minister Tito Mboweni is set to deliver his Budget speech on Wednesday in Parliament.

Pressure mounts as he is expected to address pressing matters such as increasing debt, high unemployment and State-owned entities. 

In his Medium Term Budget Policy Statement last October, Mboweni said the country had to start prioritising expenditure.

Political parties have called on Mboweni to prioritise spending in the budget and unemployment and debt.

The budget speech process can be difficult to unpack so consultant Zelna Jansen has broken down the process ahead of the much-anticipated Budget speech.

Chief Financial Officer of Teljoy, Jonathan Hurvitz called on Mboweni to tackle the issue of improving internet connectivity.

"It would also be encouraging if government were to announce greater spend on extending internet connectivity among the population. The country needs to step up the pace of our adoption of a digital economy to keep us in line with the rest of the world," said Hurvitz.

However, not everyone is optimistic about the Budget speech.

IFP spokesperson Mkhuleko Hlengwa said the country is so riddled in debt and low growth projections, that this situation may result in the International Monetary Fund.

IOL