Index deflator as an economic indicator

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The deflator index is an economic indicator used to recalculate the value of enterprises' assets.

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In terms of macroeconomic indicators, it is used to adjust the value of GNP (gross national product), taking into account price changes. The deflator of GNP is formed taking into account the funds spent by the state for the purchase of raw materials and industrial goods, as well as taking into account the funds received from the sale of goods and services on the world and domestic markets. When comparing these indicators, an index deflator is formed, which, depending on price changes, also changes.

In general, the term "deflator" implies several definitions:

- GDP deflator (DOMESTIC GROSS PRODUCT) is used to determine the actual prices in the domestic market of the country, based on the calculation of the price index.

The GDP deflator (GROSS NATIONAL PRODUCT) is determined as an index by the ratio of the previous year to the current.

- The income (price) deflator is an indicator of the price level in relation to the current year to the previous one.

The deflator index, according to the resolution approved by the Government of the Russian Federation, is set for a calendar year, based on the calculation of price increases for the current year.

In the Russian economy, the deflator index began to be used since 1996 as an indicator of the weighted average prices of enterprises' assets (fixed assets, tangible assets, current assets).

To calculate the deflator index, a joint instruction was developed by the State Statistics Committee of the Russian Federation, the Ministry of Finance of the Russian Federation, and the Ministry of Economy of the Russian Federation, approved on 21.05.96. Its use is directly related to the definition of the taxable base of the corporate income tax. At that time, due to the crisis of the Russian economy, inflation was rising at a high speed, so the conversion indices were made quarterly.

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Recalculation of the value of assets, for example, fixed assets, is performed sequentially, taking into account changes in the index-deflator. If, for example, the object was acquired in January 1996, and was retired for the purpose of implementation at the end of the same year, then the residual value of this object will be adjusted to the corresponding index deflator. If the receipt and disposal of fixed assets passed in the same quarter, the recalculation is not done. Profit from the sale of property can be determined by the formula:

P = CR - (BS x D, ), where

P - profit from sales;

CR - selling price;

BS - book value;

D - the deflator index.

When realizing property, profits may not be, i.e. its implementation may be equal to book value or lower. In this case, the recalculation of the inflation rate is not applied. Since 1998, the deflator has been used to reassess the book value of fixed assets.

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Below is a table describing the degree of change in inflation rates for 4 years (1996-1999) quarterly.

year

1 quarter

2 quarter

3 quarter

4th quarter

1996

113.3%

108.3%

105.2%

103.5%

1997

101.6%

101.2%

101.8%

100.6%

1998

102.5%

102.3%

103.9%

107.2%

1999

108.3%

108.6%

112.7%

110.1%

Taking into account these indicators, a revaluation of the assets of enterprises is carried out, except for securities, shares, intangible assets, and currency.

At the meeting of the Government of the Russian Federation of October 1, 2008, the Concept of Long-Term Socio-Economic Development of the Russian Federation for the period up to 2020 was considered, on the basis of which long-term projects are planned by enterprises in the field of construction and services.

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