Sunday, May 30, 2010

Indigestible news

Okay, so here are some weird news, or rather inaccurate statistics that took my attention today. It is either that the reporters don't know what they are talking about (well, they don't usually because they copy-paste those press releases from the sources without paying attention to the details). Or they actually think that those things would pass without anyone thinking about them. Sometimes I wonder why are they underestimating our intelligence.

Sultan Bin Saeed Al Mansoori

According to the "UAE Economic Report 2009" article the UAE's GDP (Gross Domestic Product) grew by 1.3% in 2009 to AED 914.3 billions (for future referencing, the GDP for 2010 should be around AED 943.55 billions and the GDP for 2008 was AED 902.41 billions). There is no "UAE Economic Report 2008", at least online so I relied on another official online sources from the Minister Of Economy. According to their statistics the UAE economy grew by 7.4% in 2008 from AED 729.7 billons in 2007 to AED 929.4 billons.

OK the irony

2010 === 943.5
2009 === 914.3
2008 === 902.4? or 929.4?
2007 === 729.7

And then, they keep insisting that our economy didn't shrink. They need to make up their mind. It is either their data of 2008 was wrong or the economy really shrunk by about 1.6% in 2009. I really don't understand why think think that it's better to make-up the statistics. The whole world is under a big crisis so big deal if we get affected? lol, anyway, I seem like a drama queen in this post :P

Here is a comment of someone named Don on Arabianbusiness. I was going to post about this same topic here in the blog but I couldn't have said it better than him and I got bored from writing. Forget his conspiracy theory about the shortage of units. I guess we don't get enough from those people paranoia.

In reference to the October 2009 article " UAE population hits 6m, Emiratis make up 16.5% by Andy Sambidge - Wednesday, 07 October 2009", the UAE has achieved another world's first, a popoulation increase of 36% in 6 months to hit 8.19million, or over 70% for a complete year with a forecasted population of 11 million by year end.

We are dramatically short of housing units then. Time to start building again as we will be short by well over a million units by year end. The housing shortage crises has arrived again.

Don't we all just love the statistics here. A shame on Arabian News for publishing such articles without looking back a few months ago making the news reporting have no credibility.

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