The implementation of 800 investment projects on regional development will start soon.

Ukrainian President Viktor Yanukovych said this during his working visit to Sumy region on Tuesday, the presidential press service reported.

"As for the development of cities, territories and regions, in the second half of this year we will gradually implement across the country about 800 investment projects that will be financed at a level of UAH 50 billion," he said.

He expressed hope that the implementation of these projects would help improve the national economy.

He noted that the number of such projects would grow in 2014. "The social sphere and the creation of living conditions for people are our priorities, and we will realize them," he said

While describing the economic situation, Yanukovych said that the most difficult period had passed, that there was gradual economic growth in some sectors, such as agriculture and the service sector and that inflation was kept at a low level.

The president also recalled that despite the difficult economic situation in the world, Ukraine was raising social standards for the third consecutive year.

"Every year we increase pensions and wages by at least 10 percent," he said.

Ukrinform