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Finance minister Tito Mboweni is expected to present the budget speech for 2020/21 in parliament on Wednesday.

Earlier this year, Mboweni warned that without big reforms it's “game over” for SA.

Expressing dismay with the economy, Mboweni called for the country to rid itself of “structural reforms inertia”.

He said it was time for SA to get moving by taking “many steps at a time”.

He also warned that junk status was inevitable if the economic situation in SA remained unchanged.

Last week, Mboweni said he would share more details about the state bank in his speech.

BusinessLIVE reported that the DA, on Monday, proposed a Fiscal Responsibility Bill to rein in government's debt. It said it had come up with a legal mechanism that would force government to look for ways to reduce the gap between revenue and expenditure, other than increasing debt levels.

The bill aims to anchor fiscal policy and is one of a suite of bills the party is proposing to fence in and better control the way the government exercises fiscal discipline. It also aims to set boundaries and limits on its expenditure.

DA finance spokesperson Geordin Hill-Lewis said: “The idea is to protect public services over time from the explosion in interest costs. Already in this year we will be spending more on interest than we do on policing, basic education and health care for the first time.”