• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

Call us today!  028 3752 2909 or 028 8778 9500

  • Facebook
  • LinkedIn
  • Twitter

WHR Accountants

  • HOME
  • ABOUT
  • OUR TEAM
  • SPECIALIST SERVICES
    • Audit & Assurance
    • Accountancy
    • Book Keeping
    • Computerisation
    • Payroll Services
    • Business Development & Start-up
    • Tax
    • VAT
    • Business Information Systems Support
  • BECOME A CLIENT
  • BLOG
  • VACANCIES
  • CONTACT
  • SEARCH

Mobile Menu

  • HOME
  • ABOUT
  • OUR TEAM
  • SPECIALIST SERVICES
    • Audit & Assurance
    • Accountancy
    • Book Keeping
    • Computerisation
    • Payroll Services
    • Business Development & Start-up
    • Tax
    • VAT
    • Business Information Systems Support
  • BECOME A CLIENT
  • BLOG
  • VACANCIES
  • CONTACT
  • SEARCH
  • Facebook
  • LinkedIn
  • Twitter
Home » Blog » Latest Projections Point To Economic Growth

Latest Projections Point To Economic Growth

September 25, 2024 By //  by Des Ingham Leave a Comment

The latest report by the EY Economic Eye looks very encouraging for Northern Ireland’s future prospects. Their projections forecast that the NI economy will grow by 1.1% this year and then 1.8% in 2025. Also employment is forecast to increase by 1% this year and by 0.7% in 2025.

A number of factors have come into play to help the NI economy get back on its feet after a very tough few years. One is that the inflation rate is coming down, another is that interest rates are lowering, and of course there is also the fact that the Stormont executive is sitting once more and they have some funding which they can use to help businesses develop and thrive. The executive certainly don’t have money to burn but at least they have some to play with, so they CAN make a positive impact. Finally the fact that businesses in Northern Ireland have dual access to the UK and the EU marketplace can only be a help to boost economic growth.

Our Forecast For Northern Ireland Is Favourable In The Main

Here is what Dr Loretta O’Sullivan, chief economist for EY Ireland, said about the report, as copied from an article on the Business Eye website. She said that:

“Our forecast for Northern Ireland is favourable in the main, with easing inflation lessening the squeeze on households’ purchasing power, employment solidly expanding, and financing conditions improving thanks to interest rates gradually reducing. The Stormont Executive’s commitment to growing the economy now and into the future is welcome. Boosting productivity will be key for Northern Ireland as it works to realise its full potential.” 

Strong Pool Of Highly Skilled Talent Available

And in the same article on the Business Eye website, Rob Heron, who is EY Northern Ireland Managing Partner, is quoted is saying that:

“It is encouraging to see a more positive outlook for the Northern Ireland economy for this year and 2025. With a strong pool of highly skilled talent available across Northern Ireland, we are well positioned to continue the upward trajectory of increased employment and growth in our economy. At EY, we know from talking to our clients, that Northern Ireland’s unique access to both Great Britain and the European Union market for goods post-Brexit is providing a significant opportunity for businesses operating here.”

Finally, if you have a business that you want to grow and you need some expert guidance on finance and taxes etc, please give our team a call on 028 3752 2909.

Category: General

Looking for immediate answers to your questions?

Schedule a no-cost consultation today!

This is a very useful Call To Action in the “After Entry” widget area. You can put whatever you’d like in it, and change the background color to whatever you’d like.

You May Also Be Interested In:

Vast Majority Of NI Businesses Trading Well According To Latest Survey

Will The Capital Gains Tax Changes Adversely Affect Your Business?

Why Filing Your HMRC Self Assessment Early Makes Perfect Sense

Top Businesses See Profits Mount In Last 12 Months

Beyond The Basics: How A Good Accountant Can Save You Money On Your Taxes

The Biggest Mistakes People Make With Their Taxes

Higher Unemployment Rate A Concern

Why Farmers Need An Accountant More Than Ever To Help Them With Their Business

NI Businesses Named For Failing To Pay The Minimum Wage

Previous Post: « Is Underinvestment Holding Northern Ireland Back?
Next Post: Parcel Rules Change Delayed Until Next Year »

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

WE PROMISE YOU:

If you are finding the current economic situation tough, then rest assured, we understand the pressures you face as a business owner or manager. You don’t have to face the future alone. When you choose WHR, you have an ally, a partner, a friend, in both the good times and the tough times.

028 3752 2909
028 8778 9500

RECENT POSTS

Job Retention Scheme – Update

Dear Payroll Client We are trying to continue to run our …

Vast Majority Of NI Businesses Trading Well According To Latest Survey

The latest NI Chamber and BDO NI Quarterly Economic survey …

Will The Capital Gains Tax Changes Adversely Affect Your Business?

The tax landscape is constantly shifting, and recent changes to …

Why Filing Your HMRC Self Assessment Early Makes Perfect Sense

For many self-employed individuals and small business owners in …

Top Businesses See Profits Mount In Last 12 Months

The top companies in Northern Ireland have seen their profits …

Beyond The Basics: How A Good Accountant Can Save You Money On Your Taxes

Many people view paying an accountant as a necessary but …

Footer

Director

James Robinson

Head Office

WHR Chartered Certified Accountants
028 3752 2909 or 028 8778 9500

56 English Street,
Armagh
BT61 7LG

Contact Us

Contact our office today. Our team are ready to help you. There is no better time than now.
Click Here →

Follow Us

Keep up to date with our social media

  • Facebook
  • LinkedIn
  • Twitter
  • Blog
  • Specialist Services
  • Privacy Policy

Website created by ZebWeb