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EM@HAKRUMBK FMA@ABMDYK ED @NSMA@ R.@ SKY NKR SDYMKEKR 9307 @ 9393
SYDRDAU@EK SKY? N@TY@ B@U@NMA@ B@NEDYKA I@G@JKA - 9307006=724 J@YM@A@ BTUMV@ U@FTY ‒ 9307006474=
TAMVDYRME@E RTYBKNKJIM@A@ F@BTNU@E ED @EJMAMRUY@BMKA ] DBKAKJM@ SYKHY@J@ ED BKAU@ETYM@ SßINMB@ 9390 U@I@N ED BKAUDAMEK
Bkatdamek 0.
MAUYKETBBMÒA............. ............................ ............................. ............................. .............................. ............................. ............................. ..............................5 ...............5
9.
KIODUMVKR............... ............................. ............................. ............................. ............................. .............................. ............................. .....................................4 .......................4 9.0 KIODUMVK HDADY@N..................... HDADY@N.................................... .............................. ............................. ............................. ............................. .................................. ....................4 4 9.9 KIODUMVKR DRSDBMFMBKR................................................................................................4
2.
B@S B@SMTN MTNK K 00?? A A@UT @UTY@N Y@ND_@ D_@ MAU MAUDYA DYA@ @E ED D N@ DJS DJSYDR YDR@ @............................................4 2.0 GMRUKYM@................... GMRUKYM@................................. ............................. .............................. ............................. ............................. .............................. ..................................... ........................ 6 2.9 SYMABMS@NDR KSDY@BMKADR.................. KSDY@BMKADR................................ ............................. .............................. ............................. ....................................... ......................... 6 2.2 BKAFKYJ@BMKA BKAFKYJ@BMKA EDN B@SMU@N......................... B@SMU@N........................................ ............................. ............................. ............................. ............................8 ..............8 2.5 UMSK ED MAVDYRMKADR................ MAVDYRMKADR............................... ............................. ............................. .............................. .................................................. ...................................8 8 2.4
5.
DRUYTBUTY@ FMA@ABMDY@.............. ............................ ............................. .............................. ............................. ............................... .................8 8
B@S B@SMUT MUTNK NK 99?? MA MAFKY FKYJ@ J@BMK BMKA A DW DWUDY UDYA@ A@ E ED D N@ DJS DJSYDR YDR@ @.......................................7 5.0 A@UTY@ND_@ DA PTD @BUT@ ............... .............................. ............................. ............................. ............................................. ..............................7 7
5.9 AKYJ@R NDH@NDR..................... NDH@NDR................................... ............................. .............................. ............................. ............................. ..................................... ...................... = 5.2 BKAUDWUK J@BYKDBKAÒJMBK............ J@BYKDBKAÒJMBK........................... .............................. ............................. ............................. ............................. .......................= .........= 4. B@SMUTNK 2. KIODUMVKR ] DRUY@UDHM@R ED N@ DAUME@E...................... DAUME@E........................................................09 ..................................09
4.0 EMYDBBMKA@JMDAUK EMYDBBMKA@JMDAUK DRUY@UDHMBK.................. DRUY@UDHMBK................................. ............................. ............................. ........................................ .........................09 09 4.0.0 JMRMÒA................... JMRMÒA.................................. .............................. ............................. ............................. .............................. .............................................. ............................... 09 4.0.9 VMRMÒA...................... VMRMÒA..................................... .............................. ............................. ............................. ............................. ............................................ .............................. 09 4.0.2 KIODUMVKR HDADY@NDR................... HDADY@NDR.................................. .............................. ............................. ............................................... ....................................09 ...09 4.9 KIODUMVKR @BUT@NDR ED N@ DJSYDR@.................................... DJSYDR@................................................... .............................................. ...............................09 09 4.9.0 SN@ADR @ BKYUK SN@_K............................. SN@_K............................................ ............................. ............................. .............................. .........................02 ..........02 4.9.9 SN@ADR DA DN N@YHK SN@_K..................................... SN@_K.................................................... .............................. ....................................... ........................ 02 4.2 YMDRHKR EDN ADHKBMK.... ADHKBMK................... .............................. ............................. ............................. .............................. ............................. .............................02 ...............02 6. B@SÊUTNK 5? JDEMBMÒA/ YDVMRMÒA EDN EDRDJSDÐK FMA@ABMDYK..................
[email protected] .......................05
6.0 @AÀNMRMR GKYM_KAU@N ] VDYUMB@N......................... VDYUMB@N........................................ ............................. ................................................ ..................................04 04 6.9 MAEMB@EKYDR FMA@ABMDYKR................ FMA@ABMDYKR............................... ............................. ............................. .............................. ............................. ........................08 ..........08 6.9.0 Y@_KADR ED NMPTMED_........................ NMPTMED_...................................... ............................. .............................. ............................................... ................................ 08 6.9.9 Y@_KADR ED @BUMVME@E..................... @BUMVME@E................................... ............................. .............................. ............................. .................................08 ...................08 6.9.2 Y@_KADR ED YDAU@IMNME@E..................... YDAU@IMNME@E.................................... .............................. ............................. ............................. ...........................0= ............0= 6.9.5 Y@_KADR ED DAEDTE@JMDAUK................. DAEDTE@JMDAUK................................ ............................. ............................. ........................................93 .........................93 8. B@SMUTNK 4? BKABNTRMKADR ] YDBKJDAE@BMKADR................... YDBKJDAE@BMKADR............................. .................... .................... .................... ..............90 ....90
7.
IMINMKHY@FÊ@......................................................................................................................99
0. MA MAU UYK YKET ETBB BBMÒ MÒA A
N` mjpkrt`abm` mjpkrt`abm` edn Em`haòstmbk Em`haòstmbk Fma`abmdrk Fma`abmdrk r`emb` da ua dstuemk brêtmbk emrmhmek ` dv`nu`r, dv`nu`r, `a`nmz`r d matdrprdt`r n` pksmbmòa dbkaòjmb`-fma`abmdr` ed n` djprds` @npma` R.@. ed nks pdrêkeks 9307 - 9393, bka dn prkpòsmtk ed prkpkrbmka`r ` nks emrdbtmvks n` mafkrj`bmòa qud sdrvmrà ed i`sd p`r` n` tkj` ed edbmsmkads y dn jdokr`jmdatk bkatmauk e edd n` datme`e. Bka dn prdsdatd tr`i`ok sd prdtdaed irmae`r `pkrt`r e`tks qud pdrjmt`a bkakbdr n` smtu`bmòa `btu`n edR.@, n` djprds` prkakstmb`r su dstd futurk, nk bu`nsd rdsunt` ed hr`a matdrís p`r` n` bkjp`ðê` @npma` y` qudypkr jdemk ed `aànmsms pudeda medatmfmb`r n`s fkrt`ndz`s y edimnme`eds qud prdsdat`. Dn fma fuae`jdat`n edn `aànmsms fma`abmdrk ds pkedr tkj`r edbmsmkads `edbu`e`s da dn àjimtk ed n` djprds`. Dst`s tíbamb`s sd i`s`a prmabmp`njdatd da n` mafkrj`bmòa bkatdame` da nks dst`eks fma`abmdrks y prdtdaeda rd`nmz`r ua em`haòstmbk ed n` djprds` qud pdrjmt` kitdadr bkabnusmkads skird n` j`rbg` edn adhkbmk y su dvknubmòa futur`. Dstd tr`i`ok bkatmdad mafkrj`bmòa edt`nn`e` ed n` djprds` p`r` `sê bkakbdr su a`tur`ndz`, sus prmabmp`nds `btmvme`eds, su dstrubtur` fma`abmdr`, prkvddekrds, bkjpdtmekrds, bkatdxtk j`brkd j`b rkdbka bkaòjm òjmbk, bk, jmsmòa jmsmòa,, vmsmòa, vmsmòa, kiodtmvk kiodtmvks, s, dtb., dtb., @edjàs @edjàs bkatmd bkatmdad ad su rdspdb rdspdbtmv tmvk k ua `aànmsms gkrmzkat`n y vdrtmb`n y nks maemb`ekrds fma`abmdrks ed nks `ðks 9307, 930= y 9393 ouatk bka sus rdspdbtmv`s t`in`s, hràfmb`s y bkabnusmkads. Skr ÿntmjk sd g`rà n`s rdspdbtmv`s bkabnusmkads ed tkek nk `a`nmz`ek y bka dnnk ua`s rdbkjdae`bmkads p`r` n` djprds`.
9. KIODUMVKR
9.0 KIODUMVK HDADY@N
Dn`ikr`r ua em`haòstmbk fma`abmdrk ` n` djprds` @npma` R.@ eur`atd dn pdrmkek bkjprdaemek datrd nks `ðks 9307 ‒ 9393 jdem`atd dn `aànmsms ed nks maemb`ekrds fma`abmdrks.
9.9 KIODUMVKR DRSDBMFMBKR
@a`nmz`r n` rd`nme`e dbkaòjmb` y fa`abmdr` ed n` djprds` y su b`p`bme`e p`r` `sujmr n`s emdrdatds kinmh`bmkads kinmh`bmkads qud sd edrmv`a edn eds`rrknnk ed su kiodtk skbm`n. Yd`nmz`r ua `aànmsms gkrmzkat`n y vdrb`n p`r` `a`nmz`r n` dvknubmòa ed n`s budat`s edn `bvk, p`smvk y p`trmjkamk. Edtdrjma`r nks maemb`ekrds k r`zkads fa`abmdr`s p`r` dst`indbdr sm n` bkjp`ðê` ds nêqume` y rdat`i rdat`ind, nd, `sê bkjk edtdrj edtdrjma` ma`rr su b`p`bm b`p`bme`e e`e p`r` p`r` hdadr` hdadr`rr rdburs rdbursks ks y su am amvdn vdn ed daedue`jmdatk.
2. B@S B@SMTN MTNK K 0? A@U A@UTY@ TY@ND_ ND_@ @ MAU MAUDYA DYA@ @ ED N@ DJSY DJSYDR@ DR@ 2.0 GMRUKYM@ 0=54-0=83 Nks sumzks J`x Iåazmhdr y X`ntdr Höhhdn nndh`a ` Rkpò guydaek ed n` sdhuae` hudrr` juaem`n y da iusb` ed zka`s `pt`s p`r` dn `bkpmk ed ndbgd p`r` pkedr edemb`rsd ` n` f`irmb`bmòa ed qudsks y j`atdqumnn` ed fkrj` `rtds`a`n.
0=73-9 0=7 3-933 3366 @npm @npma` a` `jpn `jpnmò mò su jdrb jdrb`ek `ek jàs jàs `nnà `nnà edn edn `ntm `ntmpn pn`a `ak k bd bdat atr` r`nn y sd n`az n`azò ò ` n` bkaqums bkaqu mst` t` edn tdrr tdrrmt mtkr krmk mk a`bm a`bmka ka`n `n.. N` bkjp` bkjp`ðê ðê`` `e `e`pt `ptò ò audv` audv`ss tdba tdbakn knkh khê` ê`ss p`r` p`r` n` f`irmb`bmòa y bkasdrv`bmòa ed prkeubtks.
9338-9305 S`r` mjpuns`r dn pktdabm`n edn b`jpk bknkjim`ak, @npma` nmedr` prkydbtks ed `skbm`tmvm `skbm` tmvme`e, e`e, tr`asfdrda tr`asfdrdabm` bm` ed bkakbmjmdat bkakbmjmdatk k y `bkjp`ð`jmda `bkjp`ð`jmdatk tk bka f`jmnm`s f`jmnm`s prkeubtkr`s prkeubtkr`s ed ndbgd y frut` da emstmatks edp`rt`jdatks edn p`ês.
9304-9393 N` bkjp`ðê` bkatmaÿ` tr`i`o`aek p`r` brdbdr ed j`adr` skstdamind ` tr`vís ed n` maakv`bmòa. Da akvmdjird ed 9393, @npma` `auabmò qud g`rà p`rtd ed n`s skbmde`eds ed Idadfmbmk d Matdrís Bkndbtmvk - IMB. Bka n`s `btmvme`eds qud eds`rrknn`rà i`ok su audvk akjird, @npma`
Srkeubtks @nmjdatmbmks R.@. IMB. 2.9 SYMABMS@NDR KSDY@BMKADR @n @npm pma` a` R. R.@. @. tm tmda dadd pkr kiod kiodtk tk n`s n`s sm smhu humd mdat atds ds `btmv `btmvme me`e `eds ds prma prmabm bmp` p`nd nds? s? f`ir f`irmb mb`bm `bmòa, òa, tr`asf tr` asfkrj krj`bm `bmòa, òa, eds`rr eds`rrknn knnk, k, dxpnkt` dxpnkt`bmò bmòa, a, bkjpr` bkjpr`,, vdat`, vdat`, emstrm emstrmiubm iubmòa, òa, mjpkrt mjpkrt`bm `bmòa, òa, dxpkrt`bmòa dxpkrt `bmòa ed tke` bn`sd ed prkeubtks prkeubtks `nmjdatmbmks, `nmjdatmbmks, ed prkeubtks prkeubtks p`r` usk ekjístmbk, ekjístmbk, ed prkeubtks `hrkmaeustrm`nds, ed prkeubtks prkeu btks p`r` n` h`a`edrê` y ed j`tdrm`s prmj`s adbds`rm`s
p`r` n` dn`ikr`bmòa ed tkeks `qudnnks prkeubtks< n` dxpnkt`bmòa ed n` `hrmbuntur` y ed n` h`a`edrê` da tke`s sus fkrj`s. N` bkjpr`, emstrmiubmòa y vdat` ed dqumpks, `bbdskrmks, rdpudstks y edjàs dndjdatks adbds`rmks p`r` embg`s `btmvme`eds. N` bkjpr` y vdat` ed tke` bn`sd ed imdads. N` prdst`bmòa pkr sm jmsj` k pkr budat` ed tdrbdrks, ed tke` bn`sd ed sd sdrv rvmb mbmk mkss `ejm `ejmam amst str` r`tm tmvk vkss ` tk tke` e` bn`s bn`sdd ed pdrs pdrska ka`s `s ourê ourêem emb` b`s. s. N` rdpr rdprds dsda dat` t`bm bmòa òa ed bkjp`ðê`s a`bmka`nds y dxtr`aodr`s qud f`irmquda y bkjdrbm`nmbda nks prkeubtks `atds jdabmka`eks. N` rd`nmz`bmòa ed das`yks fmsmbkquêjmbks y jmbrkimknòhmbks p`r` dn `aànmsms ed ndbgd brue` da nks n`ikr`tkrmks ed n` krh`amz`bmòa. N` skbmde`e pkerà prdst`r ` tdrbdrks y skbmde skb mde`eds `eds rdn rdn`bm `bmka` ka`e`s e`s sdrvmb sdrvmbmks mks ed tr`asp tr`aspkrt krtdd ed b`rh` b`rh` y nkhês nkhêstmb tmb`` kpdr`b kpdr`bmka mka`n. `n. N` Rkbmde`e Rkbm de`e pkerà pkerà h`r`at h`r`atmz` mz`rr kinmh` kinmh`bmk bmkads ads ed tdrbdr tdrbdrks ks prdvm` prdvm` `utkrm `utkrmz`bm z`bmòa òa ed su Ouat` Ouat` Emrdbtmv`. Da eds`rrknnk ed embgk kiodtk prmabmp`n n` skbmde`e pkerà `equmrmr, da`oda`r, hr`v`r y `ejmamstr`r tke` bn`sd ed imdads, matdrvdamr bkjk eduekr` k `brddekr` ed tke` bn`sd ed kpdr`bmkads ed bríemtk e`aek k rdbmimdaek n`s h`r`atê`s edn b`sk, bu`aek g`y` nuh`r ` dnn`s< pkerà bdndir`r bka dst`indbmjmdatks ed bríemtk y bka bkjp`ðê`s `sdhur`ekr`s, tke`s n`s kpdr`bmkads qud sd rdn`bmkada bka nks adhkbmks y imdads skbm`nds< pkerà hmr`r, `bdpt`r, daeks`r, `sdhur`r, bkir`r y adhkbm`r da hdadr`n, têtunks v`nkrds y bu`nqumdr ktr` bn`sd ed têtunks< pkerà fkrj`r p`rtd ed ktr`s skbmde`eds qud tdah`a bkjk kiodtk `btmvme`eds sdjdo`atds, bkjpndjdat`rm`s k `bbdskrm`s ed dstd kiodtk skbm`n, nk jmsjk qud fusmka`rsd bka dnn`s, `iskridrn`s k sdr `iskrime` pkr dnn`s< pkerà bdndir`r y dodbut`r, da hdadr`n, tkeks nks bkatr`tks y `btks prdp`r`tkrmks bkjpndjdat`rmks y `bbdskrmks ed nks `atdrmkrds. `a tdrmkrds.
2.2 BKAFKYJ@BMKA EDN B@SMU@N Dn b`pmt`n `utkrmz`ek ed n` skbmde`e ds n` suj` ed EMDBMKBGK JMN JMNNKADR ED SDRKR SDR KR JKADE@ JKADE@ NDH@N NDH@N ($07.3 ($07.333.3 33.333.3 33.333.3 33.33), 3), emv emvmem memek ek da BMDAUK BMDAUK KBGDAU KBGDAU@ @ JMNNKADR JMNN KADR (073.333.333) (073.333.333) ed `bbmkads `bbmkads bka ua v`nkr akjma`n ed BMDA SDRKR ($033.33) JKAD JK ADE@ E@ NDH@ NDH@N N b`e` b`e` ua`, ua`, n`s n`s bu`nd bu`ndss pker pkeràa àa sd sdrr djmt djmtme me`s `s da emfd emfdrd rdat atds ds bn`s bn`sds ds,, mabnuydaek `bbmkads krema`rm`s y `bbmkads prmvmndhm`e`s, ed bkafkrjme`e bka nk qud edbme` n` @s`jind` Hdadr`n ed @bbmkamst`s edatrk ed sus bkjpdtdabm`s ndh`nds y dst`tut`rm`s.
2.5 UMSK ED MAVDYRMKADR
Da dn 930= y smhumdatds `ðks, sdhumr `fm`az`aek n` dstr`tdhm` ed dst`r b`e` vdz jàs bdrb` edn bkasujmekr. S`r` nkhr`rnk sd tr`i`o`rà da maakv`bmòa 263? da prkeubtks, da prkbdsks, da dxpdrmdabm`s y da sdrvmbmk. Ed n` j`ak ed nks `nm`eks bkjdrbm`nds sd mjpndjdat`rà jdokrds fkrj fkrj`s `s ed nn nndh dh`r `r `n jdrb jdrb`ek `ek.. Dn Ma Mast stmt mtut utk k @npm @npma` a` sd sdhu humr mràà eds` eds`rr rrkn knn` n`ae aek k prke prkeubt ubtks ks emfdrd emf drdabm abm`ek `ekss qud hdadrd hdadrda a v`nkr v`nkr p`r` p`r` nks bkasujm bkasujmekr ekrds< ds< bkatma bkatmau`r u`ràà `pky`ae `pky`aek k ` nks h`a`e h`a `edr drks ks bka bka b`p` b`p`bm bmt` t`bm bmkad kads, s, `s `sms mstd tdabm abm`` tíbam tíbamb` b` d mj mjpn pndj djdat dat`bm `bmòa òa ed jked jkednk nkss ed `skbm`tmvm `skbm` tmvme`e e`e p`r` nks pdqudðks prkvddekrds prkvddekrds ed n`s zka`s jàs `ndo`e`s `ndo`e`s edn p`ês. @ su vdz, bkasknme`rà dn jkednk ed tr`asfkrj`bmòa emhmt`n y dafkb`rà sus dsfudrzks da sdr b`e` eê` jàs dfmbmdatds y bkjpdtmtmvks. Ukek dstk bka dn prkpòsmtk ed `atmbmp`rsd ` n`s adbdsme`eds edn adhkbmk y ` nks hustks ed nks bkasujmekrds. Rdhumrà tr`i`o`aek da eds`rrknn`r dn t`ndatk y da bkasknme`r n` vdat`o` bkjpdtmtmv` jàs mjpkrt`atd? n` buntur` `npmamst`.
Hr`fmb` 0
Fudatd? Mafkrjd ed hdstmòa @npma` R.@ IMB Srmjdr trmjdstrd 9390 2.4 DRUYT DRUYTBUTY@ BUTY@ FM FMA@ABMD A@ABMDY@ Y@ U`in` 0
@BUMVKR S@RMVKR S@UYMJKAMK TUMNME@E ADU@
DRUYTBUTY@ FMA@ABMDY@ 9.30 9.30 7 = 0.387. 0.387.=54 =54.96 .96= = 0.934. 0.934.247 247.88 .887 7 =05.42 =05.422.8 2.808 08 0.32=. 0.32=.658 658.68 .685 5 065.5 065 .53= 3=.4 .446 46 064. 064.80 800. 0.03 035 5
74.6 74.623 23.7 .743 43 Fudatd? Dn`ikr`e`s pkr dn `utkr
76.= 76.=86 86.2 .202 02
9.39 3 0.930. 0.930.684 684.84 .843 3 0.363. 0.363.240 240.28 .28= = 050. 050.29 295. 5.28 280 0
64. 64.40 400. 0.44 448 8
5. B@S B@SMUT MUTNK NK 9? MAF MAFKYJ KYJ@BM @BMKA KA DWUDY DWUDYA@ A@ ED N@ DJSY DJSYDR@ DR@ 5.0 A@UTY@ND_@ DA PTD @BUT@ N` bkjp`ð bkjp`ðê` ê` r`tm r`tmfm fmbò bò b`nm b`nmfm fmb`b b`bmò mòa a @@+ kt ktkr krh`e h`e`` pkr pkr Fmt Fmtbg bg Y`tm Y`tmahs ahs, „`n „`n j`at j`atda dadr dr ua` pksmbmòa bkjpdtmtmv` rkiust`‚ da dn jdrb`ek bknkjim`ak. Ed `budre `budrek k ` Ydedsb Ydedsb`r, `r, Yde ed djprds djprds`s `s Rkstda Rkstdamin minds, ds, @npma` @npma` prkjud prkjudvd vd `btu`n `btu`njda jdatd td mambm`tmv`s qud dstmjun`a n` sknmedz ed sus prkvddekrds t`nds bkjk n` `smstdabm` tíbamb`, jdokrds pràbtmb`s y bkaembmkads jàs f`vkr`inds ed adhkbm`bmòa. Da rdn`bmòa ` dnnk, b`e` uak ed nks 0,349 prkvddekrds ed ndbgd, da Bknkjim`, ed @npma`, rdbmimò da prkjdemk jàs ed trds (2) vmsmt`s ed `smstdabm` tíbamb` y skpkrtd.
Hràfmb` 9
F udatd? Mafkrjd ed hdstmòa @npma` R.@ IMB 9393 Rdhÿa ua `r Rdhÿa `rtê têbun bunk k ed @skn @skndb dbgd gd,, datr datrdd n`s n`s djpr djprds ds`s `s imnn imnnka ka`rm `rm`s `s edn edn sd sdbt btkr kr nàbt nàbtdk dk sd dabudatr`a Bkn`at`, @npma` y Adstní bka v`rm`bmkads pksmtmv`s t`atk da sus vdat`s bkjk da sus utmnme`eds. utmnme`eds. Rm imda Bkn`at` Bkn`at` ds n` djprds` edn sdbtkr nàbtdk bka j`ykrds j`ykrds vdat`s bka 9,0 imnnkads ed pdsks y ua` v`rm`bmòa rdspdbtk `n 9304 ed 9,9%, @npma` mabrdjdatò sus vdat`s da =,=4%, y sus utmnme`eds da 09=,59%< da dn b`sk ed Adstní, n`s vdat`s mabrdjdat`rka 05,58% y n`s utmnme`eds 75,=9%. Bka n` datr`e` ed audvks bkjpdtmekrds da dn p`ês, @npma` bkatmaÿ` pksmbmkaàaeksd da nks prmjdrks nuh`rds da vdat`s sdhÿa bmfr`s ed @skndbgd.
U`in` 9 IMNNKA@YM@R SKRMBMÒ A 49 42 6=
DJSYDR@ R BKN@AU@ @NSMA@ ADRUNÍ
VDAU@R V@YM@BMÒA % 9.380.358 9,9 9.328.577 =,=4 0.492.3== 09,58
TUMNME@E ADU@ V@YM@BMÒA % 06.=83 5=,=4 73.90= 09=,59 03=.889 75,=9
Fudatd? Dn`ikr`e` pkr dn `utkr Bka n` datr`e` ed audvks bkjpdtmekrds da dn p`ês, @npma` bkatmaÿ` pksmbmkaàaeksd da nks prmjdrks nuh`rds da vdat`s sdhÿa bmfr`s ed @skndbgd. Da bu`atk ` bnmdatds, n` djprds` sd g` `e`pt`ek pktdabm`njdatd mabursmka`aek bka audvks prkeubtks bkjk qudsks y idime`s Fmtadss, ndbgd ed @njdaer`s y edjàs prkeubtks qud sd v`a bkavmrtmdaek da tdaedabm` p`r` dn bkasujmekr.
5.9 AKYJ@R NDH@NDR Da bu`atk ` `spdbtks ndh`nds, @npma` tmdad puinmb`e` da su pàhma` wdi, n`s pknêtmb`s qud nndv`a ` b`ik p`r` dn tr`t`jmdatk ed n` mafkrj`bmòa. Ednmjmt`aek su kiodtmvk, `nb`abd, fma`nme`eds y prkpòsmtks ed n` rdbkndbbmòa, bkjk t`jimía rds`nt`aek nks edrdbgks ed nks tmtun`rds frdatd ` n` mafkrj`bmòa ed sus e`tks. U`jimía edst`b`a sus edidrds da dn eds`rrknnk ed embg` pknêtmb`, n` ndy 0470 ed 9309 skird e`tks sdasminds, y dn rmhkr frdatd ` nks e`tks pdrska`nds ed amðks y amð`s. N` bdsmòa k bkjuamb`bmòa ed e`tks pdrska`nds y dn prkbdemjmdatk ed `bbdsk k bkasunt`, rdbtmfmb`bmòa y `btu`nmz`bmòa ed n` mafkrj`bmòa. @edjàs ed bkat`r bka nks Dst`tutks rdhun`tkrmks y ua Bòemhk ed Iuda Hkimdrak.
5.2 BKAUDWUK J@BYKDBKAÒJMBK Dn 9393 9393 dstu dstuvk vk j`rb j`rb`e `ek k pkr ua` mj mjpkr pkrt` t`at atdd bkat bkatr` r`bbm bbmòa òa dbkaò dbkaòjm jmb` b`.. @edj @edjàs às ed n` p`aedjm`, ktrks f`btkrds, bkjk n` hudrr` bkjdrbm`n datrd Dst`eks Tameks y Bgma`, n` mabdrtmeujird pknêtmb`, dbkaòjmb` y skbm`n hdadr`e` pkr dn Irdxmt da n` Tamòa Durkpd`, n`s dndbbmkads prdsmedabm`nds da Dst`eks Tameks, datrd ktrks, mjp`bt`rka n` dbkakjê` hnki`n. Bkjk bkasdbudabm` ed dstks `bkatdbmjmdatks n` dbkakjê` juaem`n b`yò, dst`aek juy pkr edi`ok edn brdbmjmdatk prkakstmb`ek -5,5%. @jírmb` N`tma` fud ua` ed n`s rdhmkads jàs hknpd`e`s pkr embg` bkyuatur`, puds sd dstmj` ua` b`êe` ed 7,0% edn SMI p`r` dn 9393. Rdbtkr @hrkpdbu`rmk Tak ed nks sdbtkrds qud jdokr skpkrtò n` p`aedjm` fud dn sdbtkr `hrkpdbu`rmk dn bu`n tuvk ua` v`rm`bmòa pksmtmv` edn SMI y brdbmò ua 0,4% Dn adhkbmk qud prmabmp`njdatd bkatrmiuyò ` dstd rdsunt`ek fud n` h`a`e h`a `edr drê` ê`,, bka bka ua brdb brdbmj mjmd mdat atk k edn edn 0,= 0,=% % nn nndh dh`a `aek ek ` rdpr rdprds dsdat dat`r `r dn 94% 94% edn sd sdbt btkr kr `hrkpdbu`rmk da dn SMI. Bknkjim` Bknkji m` pkr su p`rtd p`rtd sd vmk `fdbt` `fdbt`e` e` prmabm prmabmp`n p`njda jdatd td da n`s `btmvm `btmvme`ed e`edss dafkb` dafkb`e`s e`s ` sdrvmbmks t`nds bkjk `nko`jmdatk, sdrvmbmks ed bkjme`, sdrvmbmks majkimnm`rmks, bkastrubbmòa y bkjdrbmk. N` p`aedjm` hdadrò emvdrsks `bkatdbmjmdatks qud mjp`bt`rka n` `btmvme`e djprds`rm`n, n` emstrmiubm emstr miubmòa òa ed prkeubtks y n` prdst`bmòa prdst`bmòa ed sdrvmbmks. sdrvmbmks. Dn hkimdrak hkimdrak edbrdtò edbrdtò bu`rdatda` bu`rdatda` pkr jàs ed 043 eê`s, tkquds ed qude`, bmdrrds ed bdatrks deub deub`tmvks, `tmvks, y ktr`s jdeme`s rdstrmbtmv`s qud hdadr`rka, datrd ktr`s bks`s? - Ta` píreme` ed jàs ed e d 0,4 jmnnkads ed pudstks ed tr`i`ok. - N`s adbdsme`eds edn h`stk pÿinmbk sd mabrdjdat`rka, hdadr`aek ua eífmbmt ed 7,=% edn SMI, bu`aek sd tdaê` prdvmstk ua 9,9%. - Rd matr matrke keuo uodr drka ka au audv dvks ks pr prkh khr` r`j` j`ss ed `y `yue ue`` t`nd t`ndss bk bkjk jk Mahr Mahrds dsk k Rk Rknm nme` e`rm rmk, k, ed tr`asfdrdabm`s jkadt`rm`s, y edvknubmòa ed MV@ p`r` sdhjdatks ed n` pkin`bmòa ed i`oks
mahrdsks< mahrds ks< sd rdt rdtr`s r`sò ò dn rdb`ue rdb`uek k ed mjpuds mjpudstks tks da sdbtkr sdbtkrds ds sdndbb sdndbbmka mka`ek `eks, s, sd rdeuod rdeuodrka rka `r`abdnds p`r` n`s mjpkrt`bmkads dstr`tíhmb`s da s`nue y sd `yueò ` n`s djprds`s jàs `fdbt`e`s ` p`h`r n` aòjma` ed nks djpnd`eks. - Nks Nks ma mahr hrds dsks ks prkv prkvda damd mdat atds ds ed tr trmi miut utks ks y ed n` `b `btm tmvm vme` e`e e pdtr pdtrkn kndr dr`` emsj emsjma mauyd uydrk rka a smhamfmb`tmv`jdatd, puds sm imda ak sd budat` ` n` fdbg` ed dstd mafkrjd bka ua` bmfr` edfmamtmv`, sd dstmj` qud nks mahrdsks trmiut`rmks rdn`bmka`eks bka dst` `btmvme`e i`o`ràa 3,05 puatks pkrbdatu`nds edn SMI (dstk rdprdsdat` 0,5 imnnkads ed pdsks). - Dn hkimdrak t`jimía dst`indbmò nêad`s dspdbm`nds ed bríemtk y h`r`atê`s ed príst`jks p`r` djprds`s da sdbtkrds dspdbêfmbks k qud sd vmdrka `fdbt`e`s pkr n` brmsms, pkr ua tkt`n pktdabm`n ed 89 imnnkads (k dn 6,7% edn SMI ed 930=).
Hràfmb` 2
Fudatd? Mafkrjd ed hdstmòa edn prdsmedatd 9393 - N` dbkakjê` dbkakjê` dst`ekuamed dst`ekuamedasd asd sufrmò ua hr`a rdtrkbdsk rdtrkbdsk da dn SMI ed 5,6% prmabmp`njdat prmabmp`njdatdd b`us`ek pkr n` p`aedjm`, bka ua bkat`hmk qud `fdbtò ` jàs ed 93 jmnnkads ed pdrska`s. Dn `ðk t`jimía dstuvk j`rb`ek pkr n`s dndbbmkads dndbbmkads prdsmedabm`nds prdsmedabm`nds qud emdrka bkjk h`a`ekr ` Okd Imeda. Ak kist`atd, sd dspdr` qud n` dbkakjê` dst`ekuamedasd nkhrd rdbupdr`rsd d
mabrdjdat`r dn SMI da 2,7% bka dn `pkyk ed n` rd`pdrtur` juaem`n y n` `nt` dfmb`bm` ed n`s v`bua`s p`r` bkatrkn`r dn Bkvme-0=. - Bka rdspdbtk ` nks p`êsds n`tmak`jdrmb`aks, da dn 9393 tkeks nks p`êsds prdsdat`rka ua rdtrkbdsk rdtrk bdsk dbkaòjmbk? dbkaòjmbk? Iknmvm` (-6,9%), (-6,9%), Sdrÿ (-09%), Bgmnd (-6,2%), (-6,2%), Bknkjim` Bknkjim` (-8,9%), (-8,9%), Dbu`ekr (-=%), Ir`smn (-4,5%) y @rhdatma` (-09,2%). - Fma`njdatd, da dn 9393 y audv`jdatd emsp`r`eks pkr n` smtu`bmòa p`aeíjmb`, sd hdadr`rka hr`aeds b`jimks b`jimks da n`s tdaedabm`s tdaedabm`s ed nks bkasujmekrds bkasujmekrds y n`s djprds`s. djprds`s. N`s djprds`s djprds`s qud jdok jd okrr g` g`a a skpk skpkrt rt`e `ek k n` sm smtu tu`b `bmò mòa a g`a g`a sm smek ek `q `qud udnn nn`s `s qu qudd bk bkat at`i `i`a `a bk bka a ua ua`` hr`a hr`a tr`asfkrj`bmòa emhmt`n da sus prkbdsks. Mhu`njdatd, jubg`s g`a rdpn`atd`ek sus dsqudj`s ed tr`i`ok y g`a jmhr`ek ` dsqudj`s emfdrdatds, iusb`aek `gkrrks da tkeks nks `spdbtks.
4. B@SMUTNK 2. KIODUMVKR ] DRUY@UDHM@R ED N@ DAUME@E 4.0 EMYDBBMKA@JMDAUK DRUY@UDHMBK 4.0.0 JMRMÒA Rdr ua` djprds` maakv`ekr`, dfmbmdatd y rdspkas`ind, qud prkeubd y bkjdrbm`nmz` prkeubtks nàbtdks ed b`nme`e h`r`atmz`e`, ` tr`vís ed ua` buntur` ed sdrvmbmk y brdbmjmdatk, `pkrt`aek `n eds`rrknnk ed n` maeustrm` a`bmka`n y bkatrmiuydaek ` ua` `nmjdat`bmòa s`nue`ind ed audstrks bnmdatds
4.0.9 VMRMÒA Rdr ua` djprds djprds`` nêedr nêedr da maakv` maakv`bmò bmòa a ed prkeub prkeubtks tks `nmjda `nmjdatmb tmbmks mks s`nue`i s`nue`inds nds,, ed j`ykr j`ykr prdfdrdabm` ` tr`vís ed ua` krh`amz`bmòa nmhdr`, dfmbmdatd, sònme` y bkjprkjdtme`. @edjàs ed sdr ua` bkjp`ðê` rdbkakbme` pkr su nmedr`zhk, buyks prkeubtks y sdrvmbmks ska n` kpbmòa prdfdrme` edn bkasujmekr Bknkjim`ak.
4.0.2 KIODUMVKR HDADY@NDR Da @npma` dst`jks bkjprkjdtmeks bka `nmjdat`r s`nue`indjdatd. Brddjks bka fmrjdz` qud n` vme vme`` hdad hdadr` r` vme vme`. `. Rkj Rkjks ks ua` krh krh`am `amz`b z`bmòa mòa mat matdnm dnmhdat hdatdd qud nkh nkhr` r` Srk Srkspd spdrme rme`e `e Bkndbtmv` ed j`adr` pdrsmstdatd bka uaks bkjprkjmsks bkndbtmvks.
4.9 KIODUMVKR @BUT@NDR ED N@ DJSYDR@ ATUY AT UYMBM MBMKA KA?? E` E`rd rdjk jkss jàs jàs ed eks jmnnka jmnnkads ds y jdem jdemk k ed prke prkeubt ubtks ks `n `ðk, `ðk, Bkjprk Bkj prkjdt jdtmek mekss bka n` autrmb autrmbmòa mòa ed Bknkji Bknkjim` m` y pkrqud pkrqud skð`jks skð`jks ua p`ês p`ês sma
g`jird, `au`njdatd eka`rdjks jàs ed eks jmnnkads y jdemk ed prkeubtks ` nks gkh`rds ed nks bknkjim`aks qud jàs nk adbdsmt`a.
H@A@ H@ A@ED EDYÊ YÊ@ @ RK RKRU RUDA DAMIN MIND? D? S` S`r` r` 9394 9394 tke` tke` auds audstr tr`` ndbgd ndbgd prkvd prkvdae aerà rà ed h`a`edrê` skstdamind bdrtmfmb`e` y zka`s ed bdrk edfkrdst`bmkads, tr`i`o`jks ed n` j`ak ed audstrks h`a`edrks p`r` n` mjpndjdat`bmòa ed iuda`s pràbtmb`s da n` prkeubbmòa y aks bkjprkjdtdjks ` qud audstr` b`eda` nàbtd` dstí nmird ed edfkrdst`bmòa y `fdbt`bmòa ` pàr`jks.
B@YIKAK ADTUYK? Aks bkjprkjdt bkjprkjdtdjk djkss ` sdr b`rikak b`rikak adutrk adutrk da audstr audstr`` kpdr`bmòa p`r` dn 9399. Iusb`jks nndv`r ` bdrk audstr` gudnn` ed b`rikak, jmdatr`s t`atk utmnmz`rdjks n`s sknubmkads `n `nb`abd bkjk n` bkasdrv`bmòa ed àriknds p`r` bkjpdas`r y tdadr ua mjp`btk adutrk a dutrk skird dn b`jimk bnmjàtmbk
SNÀRUMBK ADTUYK? Pudrdjks sdr pnàstmbk adutrk p`r` dn 9399, rdbkhdrdjks dn dqumv`ndatd `n pnàstmbk qud pkadjks da dn jdrb`ek pkrqud ak qudrdjks tdadr ua mjp`btk skird nks j`rds k rêks, y tr`i`o`rdjks p`r` qud dn 033% sd` `prkvdbg`ek ed `nhua` j`adr`.
4.9.0 SN@ADR @ BKYUK SN@_K
Aks bkjprkjdtdjks ` bdrk pdreme`s y edspdrembmks ed `nmjdatks ` nk n`rhk ed audstr` b`eda` ed prkeubbmòa Mjpuns Mjp uns`r `r dn djpkedr djpkedr`jm `jmdat datk k fdjdam fdjdamak ak ` tr`vís tr`vís ed prkhr` prkhr`j`s j`s ed `skbm` `skbm`tmv tmvme` me`e e `hrêbkn` Srkjkv Srk jkvdr dr n` emvdrs emvdrsme` me`e e y n` maburs mabursmòa mòa irmae`a irmae`aek ek mhu`ne mhu`ne`e `e ed kpkrtu kpkrtuame ame`eds `eds y bkaemb bka embmka mkads ds tr`asp tr`asp`rd `rdatd atdss p`r` p`r` tke`s tke`s n`s pdrska pdrska`s `s sma mjpkrt mjpkrt`r `r su medatm medatme`e e`e ed híadrk, krmdat`bmòa k brddabm`s
4.9.9 SN@ADR DA DN N@YHK SN@_K
Jdem`a Jdem `atd td auds audstr trk k vknua vknuat` t`rm rm`e `ek k bk bkrp rpkr kr`t `tmv mvk k aks aks bkjp bkjprk rkjd jdtd tdjk jkss ` mj mjp` p`bt bt`r `r pksmtmv`jdatd ` 23.333 pdrska`s p`r` dn 9323. Ydeubmr dn 43% ed tke` audstr` dadrhê` bka dadrhê` nmjpm`.
Fkjdat`r Fkjdat `r n` skstdam skstdamimnm imnme`e e`e ` nk n`rhk n`rhk ed tke` audstr` audstr` b`eda` b`eda` ed v`nkr v`nkr y qud dn
033% ed audstrks prkvddekrds bkat`r`a bka pràbtmb`s skstdaminds.
Ydeubmr dn 43% ed audstrk usk ed `hu` dxtr`êe` ed fudatds suit Ydeubmr suitdrràad drràad`s, `s, rêks y/k `budeubtks.
4.2 YMDRHKR EDN ADHKBMK @npma` kituvk n` b`nmfmb`bmòa @@@ pkr p`rtd ed n` b`nmfmb`ekr` ed rmdshk Fmtbg Y`tmahs, bkasmedr` qud sd j`atmdad ua` pdrspdbtmv` dst`ind. Ydfndo` su pksmbmòa ed adhkbmk fudrtd edatrk ed n` maeustrm` ed `nmjdatks da Bknkjim`, skpkrt`e` da su nmedr`zhk, rdbkakbmjmdatk ed j`rb` y su b`eda` ed emstrmiubmòa rkiust`. Ru dstrubtur` ed b`pmt`n sònme` bka amvdnds ed `p`n`ab `p`n `ab`jm `jmdat datk k jkedr` jkedr`eks eks,, nmqum nmqumedz edz `edbu`e `edbu`e`` y ua pdrfmn pdrfmn ed vdabmj vdabmjmda mdatks tks ed edue` edue` fma`abm fma `abmdr` dr` j`ado` j`ado`ind ind qud f`vkrd f`vkrdbd bd su fndxmi fndxmimnm mnme`e e`e fma`ab fma`abmdr mdr`. `. @edjàs @edjàs ed tdadr tdadr ua` emvdrs emv drsmfm mfmb`bm b`bmòa òa hdkhràf hdkhràfmb` mb`,, ed maeust maeustrm` rm` y ed prkeub prkeubtks tks skpkrt skpkrt`e` `e` da dxpkrt dxpkrt`bm `bmkad kadss d mabursmòa da audvks jdrb`eks, dn eds`rrknnk ed prkeubtks audvks da sdhjdatks emfdrdatds `n nàbtdk y n` bkasknme`bmòa ed su rdbmdatd `equmsmbmòa da dn sdbtkr ed n` autr`bíutmb`.
YMDRHK ED @BBMEDAUDR? 0. B`êe`s.
7. @trkpdnn`jmdatks.
9. Ukrbdeur`s.
=. Bgkquds.
2. Pudj`eur`s.
03. @hrdsmkads pkr tdrbdrks.
5. Smb`eur`s.
00. Dndbtrmbme`e.
4. Bkrtds.
09. Mabdaemk.
6. Hknpds.
02. Ur`uj`tmsjk ed kok.
8. @tr`p`jmdatks.
05. Dxpnksmòa.
YMDRHKR IMKNÒHMBKR 0. Gkahks. 9. Vmrus. 2. I`btdrm`s. 5. S`ràsmtks.
6. B@SÊUTNK 5? JDEMBMÒA/ YDVMRMÒA EDN EDRDJSDÐK FMA@ABMDYK
6.0 @AÀNMRMR GKYM_KAU@N ] VDYUMB@N U`in` 2 @aànmsms vdrtmb`n @BUMVKR
9307
%
99330=
%
9393
%
@btmvk Bkrrmdatd Budat`s pkr bkir`r Mavdat`rmks
059.904.767
02,07%
058.90=.572
09,90%
096.692.347,3
03,45%
050.42=.396
02,09%
060.5=8.645
02,53%
056.493.430,3
09,0=%
Ukt`n @btmvks Bkrrmdatds @BUMVKR AK BKYYMDAUDR Srkpmde`e pn`at` y dqumpk Ukt`n @btmvks Ak Bkrrmdatds UKU@N ED
280.362.738
25,2=%
277.707.589
29,96%
2=8.029.947,3
22,34%
586.6=0.829
55,07%
526.583.=90
26,90%
596.609.54=,3
24,43%
838.770.569
64,60%
706.453.236
68,85%
735.452.5=9,3
66,=4%
0.387.=54.96=
033,33
0.934.247.887
033,33%
0.930.684.843,3
033%
@BUMVKR S@U. ] S@RMVKR
9307
%
930=
%
9393
%
6,59%
5.485.8 62 255.050.2 =0 552.064.3 09
3,27%
93.347.93 4,3 209.==0.27 0,3 577.9==.7= 4,3
S`smvk Bkrrmdatd Kinmh`b. Fma`abmdr`s Budat`s pkr p`h`r
S`smvk Bkrrmdatd S`smvk Ak Bkrrmdatd Kinmh`b. Fma`abmdr`s
Ukt`n S`smvks Ak Bkrrmdatds UKU@N ED S@RMVK S`trmjkamk Srmj` ed djmsmòa Ydsdrv`s H`a`abm`s `bujun`e`s
Ukt`n p`trmjkamk Ukt`n S`smvk + S`trmj.
$ 6=.97=.736 $ 292.472.637 $ 4=2.4=0.9=7
$ 043.098.847 $ 293.=59.50=
9=,==% 44,39%
02,=0% 9=,84%
$ =05.422.808
75,86%
$ 52.277.675 $ 57.5==.352 $ 96.=0=.093 $ 065.53=.446
5,39%
$ 0.387.=52.982
Fudatd? Dn`ikr`e`s pkr dn `utkr
5,43% 9,5=% 04,95%
033,33 %
97,44% 26,88%
232.828.6 42
94,93%
4=6.579.6 69 0.32=.658.6 85
5=,5=%
76,94%
52.277.6 75 57.5==.3 52 23.256.3 52 064.800.0 35
0.934.247.8 87
2,63% 5,39% 9,49% 02,84%
033,33%
0,68% 96,34% 53,62%
223.928.64 2,3
98,57%
489.340.57 5,3 0.363.240.28 =,3
58,63%
52.277.67 5,3 57.5==.35 2,3 2.0=9.67 9,3 050.295.28 0,3
0.930.684.84 3,3
77,95%
2,60% 5,35% 3,98% 00,86%
033%
U`in` 5 @aànmsms gkrmzkat`n @BUMVKR
V@YM@BMKA 930=-9307 V@YM@BMKA V@Y %
V@YM@BMKA V@YM@BMKA 9393-930= V@Y %
@btmvk Bkrrmdatd Budat`s pkr bkir`r
4.332.604
2,49%
(93.4=6.594)
-05,3%
0=.=47.697
05,03%
(05.=88.042)
-=,2%
Ukt`n @btmvks Bkrrmdatds @BUMVKR AK BKYYMDAUDR
08.845 08.845.66 .664 4
5,87% 5,87%
7.202. 7.202.876 876
9,0% 9,0%
Srkpmde`e pn`at` y dqumpk
(53.993.700)
-7,55%
(=.747.569)
-9,2%
Ukt`n @btmvks Ak Bkrrmdatds UKU@N ED @BUMVKR S@U. ] S@RMVKR
037.647.755
04,24%
(00.==6.705)
-0,4%
096.502.43=
00,89%
(2.672.397)
-3,2%
Mavdat`rmks
S`smvk Bkrrmdatd Kinmh`b. Fma`abmdr`s Budat`s pkr p`h`r S`smvk Bkrrmdatd S`smvk Ak Bkrrmdatd Bkrrmdatd Kinmh`b. Fma`abmdr`s Ukt`n S`smvks Ak Bkrrmdatds UKU@N ED S@RMVK S`trmjkamk H`a`abm`s `bujun`e`s Ukt`n p`trmjkamk Ukt`n S`smvk + S`trmj.
V@YM@BMKA V@YM@BMKA 930=-9307 V@Y %
V@YM@BMKA V@YM@BMKA 9393-930= V@Y %
(65.804.352)
-=2,53%
04.572.559
227,4%
93.448.872 (043.596.976)
6,24% -94,25%
(20.043.303) 54.025.772
-=,0% 03,9%
042 042.63= .63=.7 .7= =4
039, 039,29 29% %
96.4 96.433 33.3 .333 33
7, 7,8% 8%
984.453.952
74,74%
(95.520.087)
-5,0%
094.00 .002.=4 .=48
02,67%
93.832.834
9,3%
2.596.=92
09,82%
(98.042.260)
-7=,4%
0.230.457
3,8=%
(95.276.822)
-05,8%
00,89%
(2.672.397)
-3,2%
096.504.434
Fudatd? Dn`ikr`e` pkr dn @utkr N` djprds` @npma` R.@ IMB p`r` dn `ðk 9307 jàs edn 83% ed sus `btmvks pdrtdadbda ` n`s budat`s ed b`rtdr`, mavdat`rmk y prkpmde`e, pn`at` y dqumpk, smdaek dst` ÿntmj` bka j`ykr v`nkr y qud p`r` nks smhumdatds `ðks tuvk ua edsbdask aktkrmk, y` qud p`r` dn `ðk 9393 n` budat` ed prkpmde`e, pn`at` y dqumpk rdprdsdat` ua v`nkr edn 24,4% edn tkt`n ed nks `btmvks. S`r` bkabnumr datrd dn `ðk 930= y 9393 nks `btmvks tuvmdrka ua edsbdask ed 3,2% ` pds`r ed n` smtu`bmòa ed n` p`aedjm`. Skr dn n`ek ed nks p`smvks sd edtdrjmaò qud n`s kinmh`bmkads fma`abmdr`s sd trmpnmb`rka edimek edim ek ` n` smt smtu`bm u`bmòa òa edn bkvme-0= bkvme-0= y` qud p`r` p`r` pkedr pkedr j`atda j`atdadr dr n` djprds djprds`` edimdr edimdrka ka skjdtdrsd skjdt drsd ` jàs kinmh`bmkads kinmh`bmkads fma`abmdr`s fma`abmdr`s y sd puded akt`r dn hr`a b`jimk b`jimk edn v`nkr ed n`s h`a`abm`s `bujun`e`s qud p`s`rka da 930= ed $ 23.256.352 ` $ 2.0=9.679 da 9393.
Da nks dst`ek dst`ekss ed rdsun rdsunt`e t`eks ks pkedjk pkedjkss dvmeda dvmedabm` bm`rr dn eds`st eds`strd rd fma`ab fma`abmdr mdrk k qud b`usò b`usò dn bkrka`vmrus y` qud emsjmauydrka su utmnme`e adt` pdrk ` pds`r ed dsk nkhr`rka j`atdadrsd y pdas`rka juy imda sus dstr`tdhm`s p`r` qud dst` p`aedjm` ak nds b`us`r` jubgk b`ks da su djprds`.
6.9 MAEMB@EKYDR FMA@ABMDYKR 6.9.0 Y@_KADR ED NMPTMED_ U`in` 4 Y@_KADR ED NMPTMED_ Y`zòa Bkrrmdatd YB Srudi` `bme`
@B SB @B - MAV SB
S@
9307
930=
9393
3,62
3,77
3,70
3,6075
3,7684
3,7328
Fudatd? Dn`ikr`e` pkr dn `utkr Hràfmb` 5
Y@_KADR ED NMPTMED_
0.333
R D Y K N @ V
3.702
3.735
3.733 3.833
3.788
3.767
3.=33
3.607
3.694
3.633
`9307 `930= ` 9393
3.433 3.533 3.233 3.933 3.033 3.333
Srudi` `bme`
Y `zka Bkrrmdatd
Fudatd? Dn`ikr`e` pkr dn `utkr Rd bkabnuyd qud p`r` dn `ðk 930= `ujdat`rka su nmqumedz nmqumedz y` qud pkr b`e` pdsk qud edida tmdada $ 3,77 p`r` rdspkaedr, dstk hr`bm`s `n `ujdatk ed b`rtdr` d mavdat`rmk, pdrk qud p`r` dn `ðk 9393 tuvk ua` ndvd b`êe` pkr n` smtu`bmòa edn bkvme-0=.
6.9.9 Y@_KADR ED @BUMVME@E U`in` 6 Y@_KADR ED @BUMVME@E Ykt`bmòa ed Mavdat`rmks
YM
Ykt`bmòa ed B`rtdr`
YB
9307 BJV
930=
9393
944,=2
984,22
998,83
09,63
09,=3
09,84
2,06
2,54
2,05
0,66
0,65
0,54
MAV. SYKJ
VB BWB SYKJ
Ykt`bmka ed prkkvdekrds
YS
Bkjpr`s brdemtk prkkv. Srkjdemk
Ykt`bmka ed @btmvks Ukt`nds
Y@U
MAHYDRKR @BU UKU@N SYKJ
Fudatd? Dn`ikr`e` pkr dn `utkr Hràfmb` 5
Y@_KADR ED @BUMVME@E
R D Y K N @ V
233 943 933 043 033 43 3
946 94 6
984 997 Ruj` ed 9307 Ruj` ed 930= Ruj` ed 9393
9=
97
97
Em` m`ss ed B`rtd tdrr`
0
0
9
Em` m`ss ed Mavdat`r `rmk mk
Fudatd? Dn`ikr`e` pkr dn `utkr
02
02
02
Ykt`b Ykt `bmò mòa a ed B`rtdr`
Ykt`bmòa ed Mavdat`rmks
Hràfmb` 4
Y@_KADRR ED Y@_KAD E D @BUMVME@E 09.333 2.028
03.333 7.333 9.045 R D Y K N @ V
2.55=
6.333 9.543
Ruj` ed 9393 Ruj` ed 930= Ruj` ed 9307
0.540
5.333 9.420
0.624
9.333
0.660
3.333 Yk Ykt` t`bbmk mka a ed @b @bv vk k Fm Fmok ok
Ykt`bm Ykt` bmk ka ed @b @bv vk ks Ukt`nds
2.069
Ykt`bmka ed prkkvdekrds
Fudatd? Dn`ikr`e` pkr dn `utkr Rd puded bkabnumr qud @npma` R.@ IMB tmdad ua` juy iuda` rkt`bmòa ed mavdat`rmks y` qud ds b`sm qud tkeks nks eê`s sd dstà rkt`aek `n tr`i`o`r bka prkeubtks pdrdbdedrks, n` rkt`bmòa ed b`rtdr` ds jdasu`n pkr nk qud pkerê` jdokr`r sm fudr` b`e` 04 eê`s. S`r` tdrjma`r n` rkt`bmòa ed prkvddekrds ds juy i`ok nk bu`n qumdrd edbmr qud n` djprds` tmdad hr`aeds pn`zks ed tmdjpk p`r` p`h`rnds ` sus prkvddekrds nk bu`n ds juy iudak.
6.9.2 Y@_KADR ED YDAU@IMNME@E U`in` 6 Y@_KADR ED YDAU@IMNME@E
9307
930=
9393
5,87%
5,66%
2,84%
00,2=%
09,37%
03,8=%
02,60%
05,60%
03,=6%
49,37%
49,5=%
56,26%
J`rhda Adtk
JA
TA VA
J`rhda DIMUE@
DIMUE@ VA
Ydat`imnme`e kpdr`bmka`n edn `btmvk
YK@
Ydat`imnme`e kpdr`bmka`n edn p`trmjkamk
YKD
@U
Fudatd? Dn`ikr`e` pkr dn `utkr Hràfmb` 6
T@MM
TA
S@U
Y@_KADR ED YDAU@IM NM E@E % % = . % 3 . 9 2 . 0 5 7 5 2 % % % 0 5 . 7 . . 0 9 3 0 0 0
% % % 9 4 . 5 . . 4 8 4
% % % 7 . 8 . 7 . 5 5 2
% % % 5 9 . 4 . . 7 = 8
% % 0 . % . 4 9 9 5 . 4 4 6 5
% % % 6 6 . 3 . . 2 5 0 0 0 0
`9307
s d o ` t a d b r k p
`930= `9393
Fudatd? Dn`ikr`e` pkr dn `utkr Rd qud qumdrd n` djprds` iuda j`rhda ed h`a`abm`s y ed dfdbtmvk, ds edbmr qud sm ua bkabnuyd mavdrsmkamst` g`bdrtmdad ua adhkbmk pkerà kitdadr ua` iuda` rdat`imnme`e kisdrv`aek dstks dst`eks fma`abmdrks. Rd dvmedabm` qud n` rdat`imnme`e kpdr`bmka`n edn p`trmjkamk g` smek ed jàs edn 43% pdrk qud p`r` dn `ðk 9393 tuvk ua` b`êe` ed jàs edn 4% edimek ` n` smtu`bmòa `btu`n.
6.9.5 Y@_KADR ED DAEDTE@JMDAUK U`in` 6 Y@_KADR ED DAEDTE@JMDAUK Amvdn ed A.D. Daedue`jmdatk
SU @U
Y`zòa ed Bkidrtur` ed Matdrdsds
T@MM MAU
B.Mat
Fudatd? Dn`ikr`e` pkr dn `utkr
Hràfmb` 8
9307
930=
9393
75,86%
76,94%
77,95%
9,85
9,79
9,25
Y@_KADR ED DAEDTE@JMDAUK 2.333
9.827
9.22=
9.433
R D Y K N @ V
9.790
9.333
Ruj` ed 9307
0.433
Ruj` Ruj` ed ed 930= 9393
0.333
3.757
3.762
3.779
3.433 3.333
Am Amvvdn ed Da Dae edu due e`j `jmd mda atk
Y`zò Y` zòa a ed Bkidr drtu turr` ed Matd tdrrds dsds ds
Fudatd? Dn`ikr`e` pkr dn `utkr Rd puded bkabnumr bkabnumr qud dn amvdn ed daedue`jmdatk daedue`jmdatk ed @npma` @npma` R.@ IMB ds edj`sm`ek edj`sm`ek `ntk, pkr nk qud p`r` futurks bríemtks ak ds juy iudak. Nk qud n` djprds` sê tmdad da iuda` r`zòa ed bkidrtur` ed matdrdsds y` qud pkr b`e` pdsk tmdad jàs ed $9 p`r` rdspkaedr.
8. B@SMUTNK 4? BKABNTRMKADR ] YDBKJDAE@BMKADR Da bkabnusmòa @npma` R.@ IMB eur`atd nks pdrmkeks ed nks `ðks 9307, 930= y 9393 g`a smek juy bkast`atds bka iudaks maemb`ekrds fma`abmdrks qud ` pds`r ed n` p`aedjm` y tke` n`
p`us` dbkaòjmb` qud guik supk `frkat`r y sdhumr `edn`atd sma jubgks prkindj`s, sd dvmedabm` qud sus dstr`tdhm`s dstr`tdhm`s ed vdat` fuabmka`a y j`atmdada sus utmnme`eds. utmnme`eds. J`ado` juy iuda mavdat`rmk y hr`a p`rtd ed sus `btmvks pdrtdadbda ` Srkpmde`e, pn`at` y dqumpk. N`s kinmh`bmkads fma`abmdr`s `ujdat`rka, pdrk n` djprds` tmdad iuda` nmqumedz p`r` sknvdat`r dst`s edue`s qud y` tr`ê` y qud nd hdadrò ed jàs dn bkvme-0=. Umdad ua iuda dqumnmirmk dqumnmirmk dbkaòjmbk edimek ` qud sd j`atmdad bkast`atd da sus mahrdsks pkr vdat`s, nks h`stks qud ed dnn`s rdburrda y b`e` uak ed sus maemb`ekrds fma`abmdrks nk qud hdadr` ua` dst`imnme`e ` n` djprds`, pdrk sd rdbkjmdae` qud sd rd`nmbda dstr`tdhm`s ed j`rldtmah y puinmbme`e pkrqud sus vdat`s ak mabrdjdat`a ed ua` j`adr` smhamfmb`tmv` sm ak qud sd qude`a da ua` bkast`atd, nk qud g`bd qud da n` djprds` @npma` R.@ IMB ak rdfndod ua `jdatk pksmtmvk ed hr`a t`j`ðk da sus `aànmsms `aànmsms fma`abmdrks, edimek ` dstk sd rdbkjmdae` qud sd iusquda n`s jdokr`s `edbu`e`s p`r` ak qude`rsd da ua mabrdjdatk jêamjk sm ak `v`az`r b`e` eê` jàs y `sê tdadr iuda`s h`r`atê`s p`r` `frkat`r nks rmdshks t`atk matdraks bkjk dxtdraks qud tke` djprds` j`ado`. Ktrk puatk ` f`nn`r qud sd dabkatrò da dstd `aànmsms fud ua edbrdjdatk smhamfmb`tmvk da n`s h`a`abm`s `bujun`e`s qud tmdad n` djprds` da dn `ðk 9393, sd dvmedabm` da dn dst`ek ed smtu`bmòa fma`abmdr` qud fud edimek ` ua `ujdatk smhamfmb`tmvk da n` dxp`asmòa ed sus kpdr`bmkads kpdr`bm kads rdfndo`ek rdfndo`ek da dn êtdj ed mavdrsmkads mavdrsmkads da suismem`rm suismem`rm`s, `s, sd rdbkjmdae` rdbkjmdae` qud p`r` dn `ðk 9390 n` djprds` vudnv` ` `equmrmr nks v`nkrds ed h`a`abm`s `bujun`e`s qud sd vdê`a prdvmstks da sus `ðks `atdrmkrds , tdamdaek ua` iuda` rdsdrv` da b`sk t`n qud sd adbdsmtd.
7. IMINMKHY@FÊ@ @npma` R.@ IMB 9390 (38 ed sdptmdjird ed 9390) Akjird ed n` pàhma`? gttps?//www.`npma`.bkj/bkrpkr`tmvk/mavdrsmkamst`s/mafkrjds/mafkrjds-`au`nds
@npma` R.@ IMB 9390 (38 ed sdptmdjird ed 9390) Akjird ed n` pàhma`? gttps?//www.`npma`.bkj/Skrt`ns/[edf`unt/mafkrj`bmka-fma`abmdr`/dst`eksfma`abmdrks/Dst`eks-Fma`abmdrks-Bkasknme`eks-@npma`-R@-930=-9307.pef @npma` R.@ IMB 9390 (38 ed sdptmdjird ed 9390) Akjird ed n` pàhma`? gttps?//www.`npma`.bkj/Skrt`ns/[edf`unt/mafkrj`bmka-fma`abmdr`/dst`eks-fma`abmdrks/@R0220-93[@npma`[Srkeubtks[@nmjdatmbmks[R.@.[DF[Rdp`reks[`n[20[emb[9393.pef @npma` R.@ IMB 9390 (38 ed sdptmdjird ed 9390) Akjird ed n` pàhma`? gttps?//www.`npma`.bkj/bkrpkr`tmvk/skjks-`npma`/aktmbm`s/`npma`-b`jim`-su-r`zka-skbm`n`-skbmde`e-imb @npma` R.@ IMB 9390 (38 ed sdptmdjird ed 9390) Akjird ed n` pàhma`? gttps?//www.`npma`.bkj/bkrpkr`tmvk/skjks-`npma`/qumdads-skjks/gmstkrm` @npma` R.@ IMB 9390 (38 ed sdptmdjird ed 9390) Akjird ed n` pàhma`? gttps?//www.`npma`.bkj/Skrt`ns/datdrt`mjdat/Ekbujdats/9.%93Mafkrjd%93ed%93Hdstmk %BB%70a%93SSU.pef @npma` R.@ IMB 9390 (38 ed sdptmdjird ed 9390) Akjird ed n` pàhma`? gttps?//www.`npma`.bkj/Skrt`ns/[edf`unt/mafkrjds-hdstmka/Mafkrjd-ed-Hdstmka-930=.pef @npma` R.@ IMB 9390 (06 ed sdptmdjird ed 9390) Akjird ed n` pàhma`? gttps?//www.`npma`.bkj/Skrt`ns/[edf`unt/mafkrj`bmka-rdndv`atd/Mafkrj`bmka-Ydndv`atdDst`tutks-@npma`-Srkeubtks-@
[email protected] @npma` R.@ IMB 9390 (06 ed sdptmdjird ed 9390) Akjird ed n` pàhma`? gttps?//www.`npma`.bkj/Skrt`ns/[edf`unt/iuda-hkimdrak/Bkemhk[ed[iuda[hkimdrak.pef; vdr:9307-32-98-930255-323
