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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (290864)	6/13/2006 1:41:16 AM
From: Elroy	Read Replies (2) \| Respond to of 1578071

Texas tea..... Achieves surplus for first time By Ahmad Ameen, Staff Reporter gulfnews.com Abu Dhabi: Oil pumped Dh174 billion into the UAE's economy last year, up from the previous year's Dh124 billion, according to the latest report from the Ministry of Economy. The nominal GDP achieved a whopping 26.4 per cent growth to Dh485 billion in 2005, the report said. The report highlights the achievements in the various economic sectors, and reveals that the UAE achieved a budget surplus for the first time in more than 20 years. "The GDP stood at Dh485 billion, for an annual growth rate of 26.4 per cent in 2004 current prices, due to the increase in international oil prices, as the average price for a barrel of oil was $54 in 2005 compared to $36.1 in 2004, which was reflected in the growth of the oil sector's revenues from Dh124 billion in 2004 to Dh174 billion in 2005," it said. An official source at the ministry of economy told Gulf News that these figures are for the nominal, not real GDP, and that the main reason for the high growth rate is the increasing international crude oil prices on the one hand, and the successful diversification of the sources of income on the other. "The gross national product (GNP) grew substantially as well, as this includes only UAE nationals, and accordingly it includes investments overseas which have risen drastically in the past year," the source said. "We cannot compare ourselves to China or India or other emerging markets, where the prevailing GDP growth rates are in the vicinity of 10 per cent, as these countries do not have a major component of natural resources exports in their revenues, yet we can neither deny the fact that the economic performance last year, regardless of the increase in the oil revenues, have peaked to new highs." He anticipated that the country will maintain this pace of growth next year, "as international estimates forecast a period of high oil prices extending to 2009 or 2010, and accordingly the UAE economy will be shifted to these new levels, in addition to the continuous growth of the non-oil sectors. The non-oil sector grew by 18.6 per cent from Dh263 billion to Dh312 billion last year, comprising 64.3 per cent of the total GDP. The UAE carried out projects worth Dh93.7 billion in 2005 comprising 19.3 per cent of the GDP, of these 50.9 per cent went to the private sector.

To: tejek who wrote (290864)	7/12/2006 4:51:13 PM
From: TimF	Respond to of 1578071

You can only tell that after the recoveries are over. You really think this expansion will go for 8 years? I have no idea how long it will last, and you have no good way of knowing either. But it isn't over yet. Also with Clinton it went beyond recovery in to "bubble" at lest in major sectors of the economy. Tim, the bubble was in the Nazz, not the economy. Not just companies in the Nasdaq, but some that where too small to list, or where otherwise privately owned, and some in the New York Stock exchange or elsewhere. It was generally a bubble in the technology sector that is a pretty big sector.