Signs of relief are in sight says Treasury

South Africa can expect to see signs of relief from the recession it has gone into by the last half of this year.

South Africa can expect to see signs of relief from the recession it has gone into by the last half of this year.

This is according to estimates by the Treasury. Some economists are less optimistic.

Treasury director-general Lesetja Kganyago yesterday said recovery by other economies could bring relief, for example, to South Africa's car manufacturing industry which was hardest hit because of its dependence on the export market.

He also said the government expected the two major soccer events South Africa is hosting - the Confederations Cup and the World Cup - to boost the construction and tourism sectors.

X