OREANDA-NEWS. September 14, 2011. The Economy Minister said it at the news conference, presenting the main indicators of Moldova’s economic development in January-June 2011. He said the economy growth of the last years had reflected the dynamics of remuneration of labor and the unemployment rate in the country.

The GDP growth in the first half of 2011 amounted to 7.5 percent in comparison with the same period last year, and this indicator was 4.6% higher than in 2008. According to Valerii Lazar, the most part of economy’s sectors recovered to the pre-crisis level. For example, exports increased by 36.7 percent in comparison with the first half of 2008, domestic trade – by 23.9%, the nominal salary – by 33%, real salary – by 15.4%, agricultural output – by 18.8%.

At the same time, some industries are still in stagnation: the transport sector has reached only 48.4% of the 2008 level, investment into the fixed capital – 78.3%, industrial production – 87.3%. Compared to the first half of 2010, exports grew in January-June 2011 by 64.9 percent in nominal terms – to USD 1,000.5 mln, imports – by 41.7% - to USD 2,375.4 mln. Coverage of exports by imports increased from 36.2% to 42.1%.

The industrial output volume increased in January-June 2011 by 9.1% - to 14.4 bln leis. The biggest dynamics was reported by manufacturing accounting for about 70% of the total industrial output. Investment in the long-term tangible assets grew 31.8 percent – to 4.8 bln leis, cargo transportation – 24% - to 4.9 mln tones.

The unemployment rate reduced from 7% to 6.2%. The average nominal salary in the country amounted to 3103.8 leis in the first half of 2011, up 13.3% over the same period lat year in nominal terms and up 6.3% - in real terms. The wage arrears reduced from 149.5 mln as of July 1, 2010 to 131 mln leis – as of July 1, 2011.

The economic recovery influenced the poverty level in the country. The share of the poor population according to results of 2010 was 21.9%, 4.4 percentage points lower than in 2009, and the poverty level reduced by 0.7 p.p., amounting to 1.4%.