OREANDA-NEWS. July 27, 2012. This was discussed at a meeting of the Cabinet of Ministers on the results of socioeconomic development in the first half of this year.

It was noted in particular that the stable economic growth was provided by the implementation of integrated programs of advanced development and modernization of industries and sectors of the economy.

The growth of industrial production was 7%, agriculture - 7.1%, construction - 8.6%.

Balanced stimulation of domestic demand and full support of domestic producers of goods and services provided increase in production of consumer goods by 7.7%, localized products - by 25.7%, retail trade - by 12.5% and services - 14%.

The share of services in GDP rose to 52.2% against 48.3% in the first half of 2011.

In six months in 2012 sectoral and integrated programs to accelerate the modernization, technical and technological re-equipment of production and localization were successfully implemented. Through the implementation of an active investment policy the volume of investments rose by 7.6%, 531 new manufacturing facilities have been commissioned. Direct investment prevail in the structure of assimilated foreign investments dominate with a share of more than 80%.

Foreign trade makes large contribution to GDP. As a result of measures taken to strengthen public support and incentives for exporters to further diversify the export structure and expand foreign markets, export growth of 18.8% has been achieved along with a substantial surplus in foreign trade.