More investment. RUB 67.1 billion.

Investments in fixed capital in January - March 2013, according to the Investment Development Agency of Tatarstan; for the first three months of 2012 was 53.7 billion rubles.

In the first half of 2013, Tatarstan improved its key economic indicators, but most of them are not growing as fast as before. According to Tatstat, the value of goods produced and services rendered in the republic in January-June was 709.1 billion rubles, and their volume increased by 6.5% compared to the first six months of 2012. Last year, the half-year growth was 10.2%. The volume of industrial production increased by 1.7% over the first six months, compared to 6.4% growth compared to January-June 2011.

The oil-extracting sector occupies a significant share in the industrial structure, and production remained at last year's level, explains an employee of the Tatarstan Ministry of Economy. In January-June 2013, it grew by 0.1%, which is less than in the same period last year, he says.

Tatneft (which produces 80% of oil in the republic) showed the same growth in production in the first half of the year - 0.1%, the company's materials say. In January - March, according to Reuters, Urals oil prices on the world market fell by 5.5%.

It is impossible to attribute the slowdown in industrial growth to the low price of oil, says Mikhail Savelichev, deputy director of the Center for Advanced Economic Research. A significant portion of the republic's products are exported, but due to the unfavorable situation on foreign markets, demand is falling, he explains.

Large export-oriented businesses in Tatarstan need to attract investment and depend on the stock market, and the situation there is not the best, agrees Irek Galyamov, head of the Positive Consulting agency. According to Savelichev, the stagnation of oil production can be compensated for by oil refining and petrochemistry, but to do this, it is necessary to stop buying technologies in this area abroad. The intellectual component is less susceptible to fluctuations in demand, and now it is not cheap for Tatarstan, he says.

Small oil companies could also show a decline due to the depletion of small fields, says Vasily Mukhin, Deputy General Director of Bulgarneft.

Production has also decreased at Kamaz: in this half of the year, the company has produced 1,500 vehicles less than in the first half of last year. But already in June, the company increased production by 30%. This is due to the revival of the market and the company's entry into summer holidays, a plant representative told Vedomosti earlier.

In the first half of the year, retail trade turnover amounted to 332.9 billion rubles, increasing by 2.8% compared to January-June 2012, but then the growth was higher - 4.1%, according to Tatstat data.

This does not mean that the population's solvency has decreased, says Vedomosti's source in the Ministry of Economy: high dynamics of trade are typical for the post-crisis period. The forecast for the growth of the Tatarstan economy is "not frightening," he continues: industries will develop, and the previous rates can be caught up in a year or a year and a half. To achieve this, it is better not to increase, but to expand production and stimulate the private sector, the official is sure.

The forecasts are not frightening