Comprehensive assessment of the socio-economic development of the region. Comprehensive assessment of the socio-economic development of the region Investment volume per capita

  • 21.06.2020

The leaders in the ranking of investments in fixed assets per capita in 2016 are: Tyumen region, Sakhalin region, Republic of Sakha (Yakutia), Magadan region, Komi Republic, Chukotka Autonomous Okrug, Tatarstan, Amur region, Arkhangelsk region, Leningrad region. The leaders are mainly Siberian and northern regions.

Those lagging behind in investment include mainly national republics with small populations, as well as the Kurgan and Ivanovo regions. The latter is traditionally located in the “basements” of ratings for growth and development indicators, as well as others. economic indicators. Moscow is nearby, and the original Russian region has been withering away for a long time.

In the ranking of gross regional product (GRP) for 2015 (the latest Rosstat data on GRP), the Ivanovo region is in 74th place. The GRP of the Ivanovo region per capita is more than half that of Voronezh, which is recent years has grown markedly, thanks to consistently high investment per capita.

The indicator of investment per capita and place in the ranking reflect the growth rate of the economy of a constituent entity of the Russian Federation compared to other regions. Consistently high investments per capita in the Belgorod, Lipetsk and Voronezh regions allowed them to successfully maintain economic growth, with the exception of crisis years. The Belgorod and Lipetsk regions are consistently among the leading subjects of the Russian Federation in terms of economics. And the Voronezh region pulled up to its leading neighbors and rose to 30th place from a very low 44th place in the rankings for GRP per capita.

The Kaluga region, on the contrary, has reduced investments in its economy and is in low 36th place in the ranking of GRP, the main indicator of the state of the region’s economy.

The second ten leading regions in terms of investment per capita, along with Moscow and St. Petersburg, include Krasnoyarsk region, Murmansk region, Novgorod region, Astrakhan region, Voronezh region, Lipetsk region, Irkutsk region, Kamchatka region.

At the same time, the structure of investments is especially important for the quality of life of the population. You can invest in tanks, rockets, in space, including flights to the stars, in nuclear power plants. Or the bulk of investments should be placed in agriculture, the food industry, and the production of consumer goods that are vitally necessary for the population. Missiles and tanks are also needed, but their production should not interfere with growth and development agriculture, food industry, growth of the peaceful part of the manufacturing industry and energy.

In this regard, it must be remembered that significant investment investments in the defense industry complex obscure the true value of GRP, its useful and really useless structural parts for improving the quality of life of the population. You can’t spread a tank on bread, and you can’t even spread gunpowder. Formally, part of the investments in the defense industry raise the formally calculated GRP, but do not raise the level and quality of life of the population. On the contrary, there are risks of temporary large investments in defense industry production and their rapid loss with improvement international relations with leading countries of the world.

In this regard, methodological questions arise regarding the scientific substantiation of the methodology for calculating gross internal product and gross regional product. And their growth rates. You cannot, for example, contribute funds stolen by corruption to general statistical investments. Money stolen from investments, particularly in Russian spaceports. And these are billions of rubles.

Budgetary investments may be ineffective, in particular due to long-term construction or due to waste and theft. Such investments may formally appear in reporting, but not exist in real life. Dispersed into private pockets and accounts. Corruption is especially harmful because it reduces the efficiency of investments, undermining the future of the country and regions.

Tyumen region

Sakhalin region

Republic of Sakha (Yakutia)

Magadan region

Komi Republic

Chukotka Autonomous Republic district

Republic of Tatarstan

Amur region

Arkhangelsk region

Leningrad region

Krasnoyarsk region

Moscow

Murmansk region

Novgorod region

Astrakhan region

Voronezh region

St. Petersburg

Lipetsk region

Irkutsk region

Kamchatka region

Tambov region

Vologda region

Tomsk region

Belgorod region

Perm region

Bashkortostan

Khabarovsk region

Moscow region

Orenburg region

Samara region

Kursk region

Sverdlovsk region

Kaliningradskaya

Kaluga region

Jewish auto. region

Transbaikal region

Krasnodar region

Tula region

Volgograd region

Republic of Dagestan

Tver region

Rostov region

Nizhny Novgorod region

Republic of Mordovia

Yaroslavl region

Primorsky Krai

Oryol region

Smolensk region

Saratov region

Kemerovo region

Altai Republic

Vladimir region

Udmurt Republic

Republic of Karelia

Bryansk region

Chelyabinsk region

Ulyanovsk region

Novosibirsk region

Republic of Khakassia

Republic of Kalmykia

Penza region

Ryazan region

Omsk region

Chechen Republic

Karachay-Cherkesskaya R.

Pskov region

Republic of Ingushetia

Kirov region

Kostroma region

Kabardino-Balkarian R.

Chuvash Republic

Republic of Mari El

Stavropol region

North Ossetia

Republic of Adygea

Kurgan region

Altai region

Republic of Buryatia

Sevastopol

Republic of Crimea

Republic of Tyva

Ivanovo region

1.2. The methodology is intended to calculate the indicator "Investment in fixed capital (without budget funds) per capita", used to determine the level of socio-economic development of subjects Russian Federation when conducting comparative rating assessment efficiency of senior officials(top managers executive bodies state power) subjects of the Russian Federation.

1.3. The indicator “Investment in fixed capital (without budgetary funds) per capita” is calculated at the federal level for the country’s economy as a whole and in the context of constituent entities of the Russian Federation.

II. Basic concepts and definitions

2.1. Investments in fixed capital represent a set of costs aimed at the acquisition, creation and reproduction of fixed assets, i.e. costs for new construction, reconstruction (including expansion and modernization) of facilities, which lead to an increase in their initial cost, purchase of machinery, equipment, vehicles, production and household equipment, accounting of which is carried out in the manner established for accounting for investments in non-current assets, for the formation of a working, productive and breeding herd (the cost of purchasing adult livestock, including the cost of its delivery, and the cost of raising young productive and working livestock on the farm, transferred to the main herd), planting and growing perennial crops, etc.; investments in intellectual property: works of science, literature and art, software and computer databases, inventions, utility models, industrial designs, breeding achievements; intangible search costs incurred.

Investments in fixed capital include the costs of creating new and imported fixed assets, carried out at the expense of all sources of financing, including budget funds on a repayable and non-repayable basis, loans, technical and humanitarian assistance, exchange agreements, as well as costs incurred for check cash citizens and legal entities attracted by developer organizations for shared construction on the basis of contracts drawn up in accordance with Federal Law of December 30, 2004 N 214-FZ "On participation in shared construction apartment buildings and other real estate objects."

Investments in fixed capital are accounted for without value added tax (except for those cases when, in accordance with the legislation of the Russian Federation ( Tax code, part 2, article 170), VAT is included in the initial cost of fixed assets and intangible assets acquired by the organization).

Investments in fixed capital include the cost of leased property if, under the terms of the leasing agreement, the lessee takes this property into account on the organization’s balance sheet. The cost of leased property recorded by the lessee on an off-balance sheet account is not included in investments in fixed capital.

Data on investments in fixed capital are reflected in current prices.

The volume of investments in fixed capital does not include costs for the acquisition of buildings, structures, machinery, equipment, vehicles, industrial and household equipment, unfinished construction projects, and apartments in housing facilities (credited to the organization’s balance sheet and recorded in the accounts of fixed assets). funds) previously included in the fixed assets (funds) of other legal entities and individuals - residents of the Russian economy, as well as the costs of purchasing newly built fixed assets from the developer.

The volume of investments in fixed capital is formed for the full range of economic entities: organizations not related to small businesses, small and micro enterprises, individual entrepreneurs without education legal entity, individuals, based on information from current statistical observation and taking into account the assessment of the volume of investments not observed by direct statistical methods.

2.2. The volume of investments in fixed capital at the expense of budgetary funds is determined on the basis of information about the source of financing investments in fixed capital at the expense of budgetary funds of all levels, presented by respondents on federal statistical observation forms: for large and medium-sized organizations - N P-2 "Information on investments in non-financial assets", for small enterprises - N PM "Information on the main indicators of the activity of a small enterprise", for microenterprises - N MP (micro) "Information on the main indicators of the microenterprise activity".

For small and micro enterprises, the results of investments in fixed capital at the expense of budgetary funds are determined as the sum of data received from respondents who submitted reports on forms N PM and N MP (micro) without spreading to the general population of objects of statistical observation.

2.3. The population between censuses is calculated based on the latest data. past census And current accounting population movements.

Population estimate - an approximate determination of the number of inhabitants in the territory of a country or part of it; is made based on the results last census population, to which are added annually the number of births and arrivals this territory and the numbers of deaths and departures from a given territory are subtracted.

Since 2002, Rosstat has been calculating the size of the permanent population only.

The methodology for estimating the population size was approved by Rosstat order No. 209 dated June 3, 2010 and applies only to final data obtained for the year.

The population size as of January 1 of each year is determined based on data as of January 1 of the previous year, taking into account natural and migration growth, as well as changes in population as a result of changes in the borders of the constituent entities of the Russian Federation, changes in borders and composition municipalities and rural transformation settlements in urban and urban settlements in rural areas during the previous year.

The average annual resident population is the arithmetic average of the permanent population at the beginning and end of the corresponding year.

Source of information for calculating the indicator: results of the VPN 2010, data from current population registration.

III. Methodology for calculating indicators

3.1. The volume of investment in fixed capital without taking into account budgetary funds is determined by the formula:

where: - the volume of investments in fixed capital excluding budgetary funds for reporting year(at current prices);

The volume of investments in fixed capital for the full range of economic entities, taking into account the assessment of the volume of investments not observed by direct statistical methods for the reporting year (in current prices);

The volume of investments in fixed capital from budgets of all levels for the reporting year (in current prices).

3.2. The calculation of the permanent population at the end of the year is carried out using the formula:

where: S(t+1) - resident population at the end of the year;

S(t) - number at the beginning of year t;

B(t) - number of births in year t;

M(t) - number of deaths in year t;

U(t) - the number of arrivals to a given territory (to a given country) in year t;

V(t) - those who left it in year t;

T(t) - change in the population of the territory as a result of changes in its borders for year t. This value can enter the equation with a plus or a minus, depending on whether the boundaries have been expanded or narrowed.

The average annual resident population is calculated using the formula:

where: S(sr) - average annual resident population for the reporting year;

S(t) - permanent population at the beginning of year t;

S(t+1) - permanent population at the end of the year.

3.3. The volume of investment in fixed assets excluding budgetary funds per capita is determined by the formula:

where: V - Volume of investments in fixed capital excluding budgetary funds per capita;

ID - the volume of investments in fixed capital excluding budgetary funds for the reporting year (at current prices);

S(sr) - average annual resident population for the reporting year.

______________________________

* All concepts and definitions are given solely for the purpose of calculating the indicator “Investment in fixed capital (without budgetary funds) per capita.”

** In practice, it is impossible to distinguish transactions for the acquisition of investment goods between residents and non-residents of the constituent entities of the Russian Federation. Therefore, investments in fixed assets in the constituent entities of the Russian Federation, in order to eliminate double counting, are assessed only in terms of the creation and acquisition of new fixed assets.

At the same time, the highest rates of investment growth were in the Far Eastern federal district, where they more than doubled (Table 7). The Northwestern and Ural Federal Districts also showed fairly high rates of investment growth over the analyzed period. Three federal districts – Central, Southern and Volga – had investment growth rates below the Russian average. At the same time, the index of the physical volume of investments in the Far Eastern District for the analyzed period exceeds the corresponding index in the Central District by 1.41 times.

Thus, in terms of investment in fixed capital per capita, there is a higher differentiation between federal districts than in terms of the index of physical investment volume. Assessing the situation as a whole, we can hardly talk about the presence of excessively high differentiation investment activities by federal districts.

This conclusion, however, does not allow us to talk about uniform development of all territories of the Russian Federation. Federal districts are large territorial units and their indicators level out the existing sharp differences between the main administrative-territorial units modern Russia– subjects of the Federation. Thus, excluding autonomous okrugs, the first place in the Russian Federation in terms of investment in fixed capital per capita in 2006 was occupied by the Sakhalin region with an indicator of 250,173 rubles, and the last, excluding national republics, – Bryansk region with an indicator of 8285 rubles. IN in this case the differentiation coefficient is 30.2 times.

The scale of investment activity also differs significantly between regions within the same federal district. Thus, the Far Eastern Federal District, along with the Sakhalin Region, also includes the Primorsky Territory, whose investments amount to 17,211 rubles. per capita. In the Northwestern Federal District, two neighboring regions, Leningrad and Pskov regions, have investments per capita of 74,714 rubles. and 10363 rub. accordingly, i.e. differ by 7.2 times.

The territorial structure of investments is largely a consequence of their sectoral structure. So for the Sakhalin region, with the total volume of goods shipped for two types economic activity– mining and manufacturing, equal to 70,728 million rubles in 2006, specific gravity mining industry accounted for 82.0%. For Primorsky Krai this figure is only 14.4%.

Thus, the raw material specialization of the Russian economy largely determines territorial structure investments. The vast majority of regions leading in terms of average per capita investment specialize in the fuel industry or ferrous and non-ferrous metallurgy. A few exceptions include Moscow and the Leningrad region.

On approval of methods for calculating the indicators "Increase in investment in fixed capital excluding budgetary funds, as a percentage of the previous year", "Investment in fixed capital (excluding budgetary funds) per capita"

FEDERAL STATE STATISTICS SERVICE

ORDER

On approval of methods for calculating the indicators "Increase in investment in fixed capital excluding budgetary funds, as a percentage of the previous year", "Investment in fixed capital (excluding budgetary funds) per capita"


Pursuant to and in accordance with clause 5.2 of the Regulations on the Federal State Statistics Service, approved by Decree of the Government of the Russian Federation of June 2, 2008 N 420,

I order:

Approve the attached:

methodology for calculating the indicator “Increase in investment in fixed assets excluding budgetary funds, as a percentage of the previous year” (Appendix No. 1);

methodology for calculating the indicator “Investment in fixed capital (without budgetary funds) per capita” (Appendix No. 2).

Supervisor
A.E.Surinov

Appendix No. 1. Methodology for calculating the indicator “Increase in investment in fixed assets excluding budgetary funds, as a percentage of the previous year”

Appendix No. 1

I. General provisions

1.1. This Methodology was prepared in accordance with the order of the Government of the Russian Federation dated April 10, 2014 N 570-r.

1.2. The methodology is intended to calculate the indicator “Increase in investment in fixed capital excluding budgetary funds, as a percentage of the previous year,” used to assess the effectiveness of the activities of senior officials (heads of the highest executive bodies of state power) of the constituent entities of the Russian Federation in creating favorable conditions for conducting entrepreneurial activity(until 2018).

1.3. The indicator “Increase in investment in fixed capital excluding budgetary funds, as a percentage of the previous year” is calculated at the federal level for the country’s economy as a whole and in the context of constituent entities of the Russian Federation.

________________
All concepts and definitions are given solely for the purpose of calculating the indicator “Increase in investment in fixed assets excluding budgetary funds, as a percentage of the previous year.”

2.1.

.

Tax Code, Part 2






________________



2.2.


2.3. Increase in investment in fixed assets excluding budgetary funds, as a percentage of the previous year - relative indicator, characterizing the change (increase, decrease) in the volume of investments in fixed assets excluding budgetary funds for the reporting year compared to the previous one, expressed as a percentage.

To calculate the indicator “Increase in investment in fixed capital excluding budgetary funds, as a percentage of the previous year,” data on indices of the physical volume of investment in fixed capital excluding budgetary funds, calculated in comparable prices, are used. Average annual prices of the previous year are used as comparable prices.



- the volume of investments in fixed capital for the full range of economic entities, taking into account the assessment of the volume of investments not observed by direct statistical methods for reporting period(at current prices);

3.2. The index of the physical volume of investments in fixed assets excluding budgetary funds for the reporting year in % of the previous year is calculated using the formula:

where: - index of the physical volume of investments in fixed capital excluding budgetary funds for the reporting year in % of the previous year;

- the volume of investments in fixed capital for the reporting year in average annual prices of the previous year;

- the volume of investments in fixed capital for the previous year in average annual prices.

3.3. The increase in investment in fixed capital without taking into account budgetary funds is determined by the formula:

where: - increase in investment in fixed assets excluding budgetary funds for the reporting year in% compared to the previous year;

- index of the physical volume of investments in fixed assets excluding budgetary funds for the reporting year in % of the previous year.

Appendix No. 2. Methodology for calculating the indicator “Investment in fixed capital (without budget funds) per capita”

Appendix No. 2

I. General provisions

1.1. This methodology was prepared in accordance with the order of the Government of the Russian Federation dated April 10, 2014 N 570-r.

1.2. The methodology is intended to calculate the indicator “Investment in fixed capital (without budgetary funds) per capita”, used to determine the level of socio-economic development of the constituent entities of the Russian Federation when conducting a comparative rating assessment of the performance of senior officials (heads of the highest executive bodies of state power) of the constituent entities Russian Federation.

1.3. The indicator “Investment in fixed capital (without budgetary funds) per capita” is calculated at the federal level for the country’s economy as a whole and in the context of constituent entities of the Russian Federation.

II. Basic concepts and definitions

________________
All concepts and definitions are given solely for the purpose of calculating the indicator “Investment in fixed capital (without budgetary funds) per capita.”

2.1. Investments in fixed capital represent a set of costs aimed at the acquisition, creation and reproduction of fixed assets, i.e. costs of new construction, reconstruction (including expansion and modernization) of facilities that lead to an increase in their initial cost, purchase of machinery, equipment, vehicles, production and business equipment, accounting for which is carried out in the manner established for accounting for investments in non-current assets, for the formation of a working, productive and breeding herd (the cost of purchasing adult livestock, including the cost of its delivery, and the cost of raising young productive and working livestock on the farm, transferred to the main herd), planting and growing perennial crops, etc.; investments in intellectual property: works of science, literature and art, computer software and databases, inventions, utility models, industrial designs, breeding achievements; intangible search costs incurred.

Investments in fixed capital include the costs of creating new and imported fixed assets, carried out at the expense of all sources of financing, including budget funds on a repayable and non-repayable basis, loans, technical and humanitarian assistance, exchange agreements, as well as costs incurred for an account of funds of citizens and legal entities attracted by developer organizations for shared construction on the basis of contracts drawn up in accordance with Federal Law of December 30, 2004 N 214-FZ “On participation in shared construction of apartment buildings and other real estate objects”.

Investments in fixed assets are accounted for without value added tax (except for those cases when, in accordance with the legislation of the Russian Federation (Tax Code, Part 2), VAT is included in the initial cost of fixed assets and intangible assets acquired by the organization).

Investments in fixed capital include the cost of leased property if, under the terms of the leasing agreement, the lessee takes this property into account on the organization’s balance sheet. The cost of leased property recorded by the lessee on an off-balance sheet account is not included in investments in fixed capital.

Data on investments in fixed capital are reflected in current prices.

The volume of investments in fixed capital does not include costs for the acquisition of buildings, structures, machinery, equipment, vehicles, industrial and household equipment, unfinished construction projects, and apartments in housing facilities (credited to the organization’s balance sheet and recorded in the accounts of fixed assets). funds) previously included in the fixed assets (funds) of other legal entities and individuals - residents of the Russian economy, as well as the costs of purchasing newly built fixed assets from the developer.
________________
In practice, it is impossible to distinguish transactions for the acquisition of investment goods between residents and non-residents of the constituent entities of the Russian Federation. Therefore, investments in fixed assets in the constituent entities of the Russian Federation, in order to eliminate double counting, are assessed only in terms of the creation and acquisition of new fixed assets.


Volume of investments in fixed capital is formed for the full range of economic entities: organizations not related to small businesses, small and micro enterprises, individual entrepreneurs without forming a legal entity, individuals, based on information from current statistical observation and taking into account the assessment of the volume of investments not observed by direct statistical methods.

2.2. The volume of investments in fixed capital from budget funds determined on the basis of information about the source of financing investments in fixed capital from budget funds of all levels, provided by respondents on federal statistical observation forms: for large and medium-sized organizations - N P-2 "Information on investments in non-financial assets", for small enterprises - N PM "Information on the main performance indicators of a small enterprise", for micro-enterprises - N MP (micro) "Information on the main performance indicators of a micro-enterprise."

For small and micro enterprises, the results of investments in fixed capital at the expense of budgetary funds are determined as the sum of data received from respondents who submitted reports on forms N PM and N MP (micro) without spreading to the general population of objects of statistical observation.

2.3. Population in the period between censuses is calculated based on the data of the last census and current records of population movements.

Population estimate - an approximate determination of the number of inhabitants in the territory of a country or part of it; is made on the basis of the results of the latest population census, to which the numbers of births and arrivals to a given territory are added annually and the number of deaths and those who left the territory is subtracted.

Since 2002, Rosstat has been calculating the size of the permanent population only.

The methodology for estimating population size was approved by Rosstat order No. 209 dated June 3, 2010 and applies only to final data obtained for the year.

The population size as of January 1 of each year is determined based on data as of January 1 of the previous year, taking into account natural and migration growth, as well as changes in population as a result of changes in the borders of the constituent entities of the Russian Federation, changes in the boundaries and composition of municipalities and transformations of rural settlements into urban and urban settlements to rural ones during the previous year.

Average annual resident population- arithmetic average of the permanent population at the beginning and end of the corresponding year.

Source of information for calculating the indicator: results of the VPN 2010, data from current population registration.

III. Methodology for calculating indicators

3.1. The volume of investment in fixed capital without taking into account budgetary funds is determined by the formula:

where: - the volume of investments in fixed capital excluding budgetary funds for the reporting year (at current prices);

- the volume of investments in fixed capital for the full range of economic entities, taking into account the assessment of the volume of investments not observed by direct statistical methods for the reporting year (in current prices);

- the volume of investments in fixed capital from budgets of all levels for the reporting year (in current prices).

3.2. The calculation of the permanent population at the end of the year is carried out using the formula:

S(t+1) = S(t) + B(t) - M(t) + U(t) - V(t) + T(t),

Where: S(t+1)- permanent population at the end of the year;

S(t)- number at the beginning of year t;

B(t)- number of births in year t;

M(t)- number of deaths in year t;

U(t)- the number of arrivals to a given territory (to a given country) in year t;

V(t)- those who left it in year t;

T(t)- change in the population of the territory as a result of changes in its borders for year t. This value can enter the equation with a plus or a minus, depending on whether the boundaries have been expanded or narrowed.

The average annual resident population is calculated using the formula:

Where: S(sr)- average annual resident population for the reporting year;

S(t)- the size of the resident population at the beginning of year t;

S(t+1)- permanent population at the end of the year.

3.3. The volume of investment in fixed assets excluding budgetary funds per capita is determined by the formula:

where: V - Volume of investments in fixed capital excluding budgetary funds per capita;

- the volume of investments in fixed capital excluding budgetary funds for the reporting year (at current prices);

S(sr)- average annual resident population for the reporting year.



Electronic document text
prepared by Kodeks JSC and verified against:
official website of Rosstat
www.gks.ru (scanner copy)
as of 05/22/2014

On approval of methods for calculating the indicators "Increase in investment in fixed capital excluding budgetary funds, as a percentage of the previous year", "Investment in fixed capital (excluding budgetary funds) per capita"

Document title:
Document number: 313
Document type: Order of Rosstat
Receiving authority: Rosstat
Status: Active
Published: The document was not published
Acceptance date: May 19, 2014
Start date: May 19, 2014

Monsieur Basel decided to once again confuse the people and cast a shadow over the fence...

The indicator referred to in UN statistics as Gross Fixed Capital Formation (Gross Fixed Capital Formation or Gross Investments in Fixed Capital) has an analogue in domestic statistics - Investments in fixed capital, although the indicators are not completely identical, they are sometimes translated that way.

GFCF Not is a measure general investment, since only the value of net additions to fixed assets is measured, all types are excluded financial assets, as well as inventories and other operating expenses(the latter are included in intermediate consumption). If, for example, it is considered balance sheet company, it is easy to understand that fixed assets are only one component of annual capital expenditures.

The most important exception to the GFCF is sale and purchase of land. The original reason, leaving aside the complex valuation problems involved in assessing the value of land in the standard manner, was that if a piece of land is sold, then the total amount of land already exists is not considered to be increased in this way; all that happens is that ownership changes to the same land. Therefore, the GFCF measure only includes the cost of land improvements as a net addition to wealth. In special cases, such as land reclamation from the sea, river or lake (eg polder), new land can indeed be created and sold where there was none before, adding to fixed assets. The GFCF measure always applies to enterprises resident in the national territory and thus, if, for example, oil exploration takes place on the high seas, the associated new fixed investment is allocated to the national territory in which the enterprises in question are located.

Data are usually provided by statistical agencies annually and quarterly, but only over time. Fluctuations in this indicator are often considered indicators of something about the future business activity, business confidence and the pattern of economic growth . In times of economic uncertainty or recession, typically a business' investment in fixed assets will decrease as it is tying up additional capital for a longer period of time with the risk that it will not pay itself off (and therefore fixed assets may be renegotiated more quickly) . Conversely, in times of sustained economic growth fixed investments will increase across the board as observed market expansion makes it likely that such investments will be profitable in the future.

In short, GFCF has nothing to do with investments in fixed assets (which Basel means)...

From Kushnir's website:

In statistics there is an indicator called “Relationships between the main indicators of the system of national accounts”, and so there is the same fixed capital that the UN means (but does not understand Monsieur Basel)

This table for the Russian Federation is taken from statistical collection CIS for 2016, but Monsieur Basel can be convinced of the existence this indicator in CIS collections (for all CIS countries) available on the Historical Materials website.

Basel, you are in a puddle again....