15/08/2013
NI Economy May Have 'Turned The Corner' - FM
Finance Minister Simon Hamilton has said the Northern Ireland economy may have "turned the corner" on economic instability.
The statement follows a meeting yesterday with representatives from Pubs of Ulster in Ballynahinch.
Simon Hamilton said: "The hospitality sector is an extremely important part of our local economy and is an integral part of our tourism industry and product which the Executive has invested heavily in over recent years. This sector is going to be vital as we seek to rebuild and rebalance our economy.
"Specific concerns were raised about bank lending and improving the availability of finance at reasonable terms; an issue my Department is already very much focused on."
The Finance Minister added: "We need to test the banks on this. I would like to encourage all businesses to come forward and apply for the money they need to invest and if they are turned down to ask why and to appeal that decision through the independently operated process that is in place.
"We have some distance to go yet before the economy is fully recovered and there will still be some pain along the way, but I sense we have turned the corner."
Minister Hamilton continued: "Recent economic news has been more encouraging on a number of fronts, including the Purchasing Managers Index (PMI) published by the Ulster Bank on Monday which showed that business activity expanded for the first time in over five and a half years."
(IT/CD)
The statement follows a meeting yesterday with representatives from Pubs of Ulster in Ballynahinch.
Simon Hamilton said: "The hospitality sector is an extremely important part of our local economy and is an integral part of our tourism industry and product which the Executive has invested heavily in over recent years. This sector is going to be vital as we seek to rebuild and rebalance our economy.
"Specific concerns were raised about bank lending and improving the availability of finance at reasonable terms; an issue my Department is already very much focused on."
The Finance Minister added: "We need to test the banks on this. I would like to encourage all businesses to come forward and apply for the money they need to invest and if they are turned down to ask why and to appeal that decision through the independently operated process that is in place.
"We have some distance to go yet before the economy is fully recovered and there will still be some pain along the way, but I sense we have turned the corner."
Minister Hamilton continued: "Recent economic news has been more encouraging on a number of fronts, including the Purchasing Managers Index (PMI) published by the Ulster Bank on Monday which showed that business activity expanded for the first time in over five and a half years."
(IT/CD)
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