Valoracion de La Empresa Absorpelsa S
August 12, 2022 | Author: Anonymous | Category: N/A
Short Description
Download Valoracion de La Empresa Absorpelsa S...
Description
EAVI[UIBALUJ EA H@ALH@IX AHJLØB@HIX IEB@L@XU[IU@_IX P EA HJBA[H@J _INJ[IH@ØL EA ABV[AXIX
_injrih`øl ea ni abprasi Iksjrpansi Vipanas Iksjrkaltas X.I EJHALUA4 Ahjljb`sti Minj Ihjsti Ihjsti L[H4 8968 @ltamriltas4 Ihjsti
Ar`gi
Kjl`nni
Katsy
Hizir
Mikr`ani
Nnarali _ami
Giral
[utc JHUQK[A ;693- OAK[A[J ;690 XILMJNYQ@- AHQIEJ
HJLUAL@EJ 9. Ilén`s`s c`stør`hj ea ni abprasi y ean sahtjr ............................................ .................................................................. ......................... ... 9 I. Ilén`s`s astritàm`hj y hjbpat`t`vj .......................................... ............................................................... ........................................... ...................... 9 ................................................................. ................................. .......... 9 I.9 @lojrbih`øl @lojrbih`øl malarin ea ni abprasi ..........................................
I.; Ilén`s`s ean bihrj ibk`alta ea ni abprasi ........................................................ .............................................................. ....... 9 ............................................................... ........................................... ......................... .... ? I.8 Ilén`s`s ean b`hrjibk`alta ......................................... I.5 Ilén`s`s ean Ibk`alta @ltarlj ..................... ........................................... ............................................. ........................................ ................. 3
I1. @ealt`o`hih`øl @ealt`o`hih`øl ea njs oihtjras oihtjras malariej malariejras ras ea vinjr ..................... ............................................ ........................... .... 95 I?. @ealt`o`hiejr ea njs oihtjr oihtjras as malarie malariejras jras ea r`asmj ..................... ............................................ ........................... .... 91 K. E`imløst`hj O`lilh`arj ............................................... ..................................................................... ............................................ ............................... ......... 9?
K9. Ilén`s`s cjr`zjltin y vart`hin ea njs astiejs ea ra rasuntiejs suntiejs y kinilh kinilhas as malari malarinas nas .. 9? K;. @ealt`o`hih`øl @ealt`o`hih`øl y hénhunj e`rahtj e`rahtj ea njs iht`vjs `bprjeuht`vjs ................................. ................................ ;= K 8. Ilén`s`s ea ni avjnuh`øl ea njs Onudjs ea nis iiht`v`eieas ht`v`eieas jpa jparit`vis rit`vis ..................... ;= K 5. Ilén`s`s ea ni avjnuh`øl ea nis `lvars`jlas (Hipax) ea ni aabprasi bprasi ....................... ;0 ..................................... ................ 8; K 1. Ilén`s`s ea ni avjnuh`øl ea ni o`lilh`ih`øl ea ni abprasi..................... ................................................ .... 8? K ?. Ilén`s`s ea ni ieb`l`strih`øl ea eann wjrg`lm hi hip`tin. p`tin.. .............................................
K =. Ilén`s`s ea njs rit`js o`lilh`ar o`lilh`arjs js .......................................... ............................................................... .................................. ............. 8= K 3. Ojrtinazis y eak`n`eiea eak`n`eieass o`lilh`aris ............................................ ................................................................... ........................... .... 5= K 0. Oihtjras ea r`asmj iisjh`iejs sjh`iejs hjl ni abprasi y hjl an lamjh lamjh`j `j .............................. ............................. 5= .................................................................. ........................... .... 53 K 96. Vjlearih`øl Vjlearih`øl ean r`as r`asmj mj ean lamjh lamjh`j `j ........................................... ;. Vrjyahh`øl ea njs onudjs outurjs ........................ .............................................. ............................................ ........................................... ......................... 50 I.
Vrav`s`øl astritam`hi y hjbpat`t`vi ..................................... ........................................................... ...................................... ................ 50
I 9. B`s`øl y v`s`øl ................... ........................................ ........................................... ............................................ .......................................... .................... 50 .............................................................. .................................. ............. 50 I ;. Astritam`i Hjbpa Hjbpat`t`vi t`t`vi Malàr`hi ......................................... I 8. Jkdat`vjs ea ni abprasi ......................................... ............................................................... ............................................ ........................... ..... 1; ................................................................. ............................................ ........................... ..... 18 I 5. Astritam`i abpr abprasir`in asir`in ........................................... .......................................... ........................................... ........................................... ................................... ............. 18 I 1. Vr`lh`p`js y vinjras ....................
I ?. Vrav`s`øl ea ni avjnuh`ø avjnuh`øll ea ni ahjlj ahjljbâi bâi ............................................................. ................................................................ 15 I =. Vrav`s`øl ea ni avjnuh`øl ea eann sahtjr ............................................ ................................................................... ........................... .... 11 I 3. Vrav`s`øl ea ni pirt`h`pi pirt`h`pih`øl h`øl ea barhie barhiejj ea ni abpras abprasii ................... ....................................... .................... 1? K.
Vrav`s`jlas O`lilh`aris ......................................... .............................................................. ........................................... ............................... ......... 1=
K 9. Vrav`s`øl ea vir`js ashalir`js ashalir`js44 Ashalir`j talealh`in, ashalir`j jpt`b`sti y .......................................... ............................................. ............................................ ......................................... .................... 1= ashalir`j pas`b`sti .................... ....... ?9 K ;. Vrab`sis ea prjyahh`ø prjyahh`øll ean astiej ea rasuntiejs al an ashalir ashalir`j `j talealh`in .........
K 5. Hénhunj ea nis `lvars`jlas `lvars`jlas ea rapjs`h`øl la lahasir`is hasir`is piri biltalar biltalar s`l baljshikj ni hipih`eie ea prjeuhh`øl. ..................... ........................................... ............................................ ............................................ ........................... ..... =9 K 1. Hinhunj ea njs `lhrabaltjs ea hip`tin ea trikidj latj ear`viej ean iubaltj ea nis jparih`jlass j ea njs hj jparih`jla hjstjs stjs ea prjeuh prjeuhh`øl h`øl .......................................... ................................................................. ........................... .... =; K ?. Hinhunj ea njs onudjs ea hi hidi di n`kras ea ni abpr abprasi asi al an as ashalir`j halir`j talealh talealh`in `in ...... ...... =5 .......................................... ......................................... .................... =? K =. Hinhunj ean _injr _injr [as`euin ea ni abprasi ..................... 8. Eatarb`lih`øl ea ni tisi ea eashualtj part`lalta (Gu) ............................... ................................................... .................... =? 5. Ihtuin`zih`øl ea njs onudjs ea hidi ashalir`j talealh`in ................................................. ................................................. =0 5.9 Ihtuin`zir njs onudjs ea hidi prav`stjs i su tisi hjrraspjle`alta .................................. ................................. =0
5.; Hénhunj ean _injr ihtuin ean _injr ras`euin........................................ ras`euin.............................................................. ........................... ..... 36 5.8
Hénhunj ean vinjr ea nis ihh`jlas j pirt`h`pih`jlas .......................................... .................................................. ........ 36
1. @ltarpratih`øl ea njs rasuntiejs jktal`ejs al an prjhasj ea vinjrih`øl ......................... ......................... 36 1.9 Hjbpirih`øl altra an vinjr jktal`ej hjl an vinjr hjltikna ................................... ........................................... ........ 36 HJLHNQX@JLAX ............................................ .................................................................. ............................................ ............................................. ........................... .... 3; [AHJBALEIH@JLAX [AHJBALEIH@JLA X .................... .......................................... ............................................. ............................................ ......................................... .................... 38 [aoaralh`is .......................................... ............................................................... ........................................... ............................................ .......................................... .................... 30
Âle`ha ea O`muris ......................................... ; O`muri 9. V@K-Ahuiejr V@K-Ahuiejr ;66=2966, ;66=2966, Uisis ea vir`ih`øl tr`bastrin .......................................... ........................ 8 O`muri ;. Avjnuh`øl Avjnuh`øl y pirt`h`pih pirt`h`pih`øl `øl ean V@K ea ni `leus `leustr`i tr`i biluoihtura biluoihturari ri ......................... .................................................................. ........................................ ................. 8 O`muri 8. Avjnuh`øl Avjnuh`øl c`stør`hi `lonih `lonih`øl `øl ........................................... ............................................................... ........................................... ..................................... ............... 1 O`muri 5. Uisi ea easabpna easabpnajj .......................................... O`muri 1. Astruhturi jrm jrmil`zih`jlin il`zih`jlin ............................................ ................................................................. ........................................... ...................... 0 ................................................................ .................... 9; O`muri ?. Vjrhaltida Vjrhaltida ea va valtis ltis samôl an ssambaltj ambaltj ............................................ O`muri =. Vjrhaltida Vjrhaltida ea va valtis ltis samôl an pr prjeuhtj jeuhtj .......................................... ............................................................... ......................... 98 O`muri 3. @lmrasjs @lmrasjs pjr valtis valtis iluinas ea Iksjrpansi ..................... ........................................... ...................................... ................ 9= O`muri 0. Hjstj ea _altis eeaa Iksjrpansi ......................................... ............................................................... ...................................... ................ 93 O`muri 96. Mistj ea Ieb`l`strih`øl Ieb`l`strih`øl y _alti .......................................... ................................................................. ............................... ........ 93 O`muri 99. Ilin`s`s _art`hin ............................................ .................................................................. ........................................... .................................. ............. 90 O`muri 9;. Qt`n`eieas Qt`n`eieas ..................... ............................................ ............................................. ............................................ ............................................ ........................ 90 O`muri 98. Hjbpjs`h`øl Hjbpjs`h`øl ea njs iiht`vjs ht`vjs .......................................... ............................................................... ......................................... .................... ;6 O`muri 95. Hjbpjs`h`øl Hjbpjs`h`øl ean Iht`vj Hjrr`alta. ....................................................... ....................................................................... ................ ;6 O`muri 91. Hjbpjs`h`øl Hjbpjs`h`øl ean Iht`vj lj Hjrr`alta ........................................... ................................................................. ........................ ;9 O`muri 9?. _ir`ih`jlas _ir`ih`jlas ean Ih Iht`vj t`vj lj Hjrr`alta ......................................... ............................................................... ........................... ..... ;9 O`muri 9=. _ir`ih`øl _ir`ih`øl ean pis pis`vj `vj hjrr`alta y lj hjrr`alta .................................................... ....................................................... ;; ................................................................. .................................. ............ ;8 O`muri 93. Hjbpjs`h`øl Hjbpjs`h`øl Vis`vj Hj Hjrr`alta rr`alta ...........................................
O`muri 90. Hjbpjs`h`øl Hjbpjs`h`øl ean Vis`v Vis`vjj lj Hjrr`alta ........................................... ................................................................. ........................ ;8 O`muri ;6. Hjbpjs`h`øl Hjbpjs`h`øl ean Vitr`bjl`j .......................................... ................................................................. ...................................... ............... ;5 O`muri ;9. Avjnuh`øl ea nis pr`lh`pinas hualtis ean Onudj ea aoaht`vj pjr nis iht`v`eieas ea jparih`øl ..................... ............................................ ............................................ ........................................... ............................................ .......................................... .................... ;3 O`muri ;;. Avjnuh`øl Avjnuh`øl ea prjp prjp`aeie, `aeie, pnilti y aaqu`pj. qu`pj. .......................................................... ............................................................. 86 O`muri ;8. Avjnuh`øl Avjnuh`øl ea nis ie iequ`s`h`jlas qu`s`h`jlas ea HI HIVAS VAS ................................................. ......................................................... ......... 86 ........................................... 89 O`muri ;5. Virt`h`pih`øl Virt`h`pih`øl HIVAS ra raspahtj spahtj i njs iiht`vjs ht`vjs tjtinas ............................................ ......................................... ........................ 88 O`muri ;1. E`str`kuh`øl E`str`kuh`øl ean O`lilh`ib`altj O`lilh`ib`altj ea Iksjr Iksjrpansi pansi X.I ................... ................................................................ .................... 88 O`muri ;?. E`str`kuh`øl E`str`kuh`øl ean O`lilh`ib`altj O`lilh`ib`altj al % ............................................ ............................................ ............................................ ........................................... ......................... 85 O`muri ;=. E`str`kuh`øl E`str`kuh`øl ean Vis`vj Vis`vj ...................... ........................................ ......................................... .................... 81 O`muri ;3. Vr`lh`pinas Vr`lh`pinas hualtis ean Vis`vj Hjr Hjrr`alta r`alta ................... ................................................................. ............................... ........ 81 O`muri ;0 E`str`kuh`øl E`str`kuh`øl ean Vitr`bjl`j ;69= .......................................... ........................................... ...................................... ................ 83 O`muri 86. Avjnuh`øl Avjnuh`øl ean âle`ha eeaa pruaki hhjrr`alta. jrr`alta. ..................... ................................................................. ........................ 83 O`muri 89. Avjnuh`øl Avjnuh`øl ean âle`ha eeaa pruaki éh éh`ei `ei ........................................... .................................................................. ......... 80 O`muri 8;. Avjnuh`øl Avjnuh`øl ean hip`tin ea trikidj latj .......................................................... ......................................................................... ............. 56 O`muri 88. Avjnuh`øl Avjnuh`øl ea rjtih rjtih`øl `øl ea iht`vjs ............................................................. O`muri 85. Avjnuh`øl Avjnuh`øl ea rjtih rjtih`øl `øl ea hualtis pjr pimir y hualtis pjr hhjkrir jkrir .................... 59 O`muri 81. Avjnuh`øl Avjnuh`øl ea par par`jej `jej prjbae`j ea hjkrj y pa par`jej r`jej prjbae`j ea pimj .............. 59 O`muri 8?. Avjnuh`øl Avjnuh`øl ea rjtih`øl ea hualtis ppjr jr pimir y hhualtis ualtis pjr hhjkrir jkrir .................... 58 O`muri 8=. Avjnuh`øl Avjnuh`øl ea ni riz rizøl øl ea eauei ......................................... .............................................................. .................................. ............. 55 O`muri 83 Avjnuh`øl Avjnuh`øl ea ipinilhib`altj ipinilhib`altj ......................................... ............................................................... ...................................... ................ 55 O`muri 80. Avjnuh`øl Avjnuh`øl ea hjlh hjlhaltrih`øl altrih`øl ea ni eauei .................... ......................................... ......................................... .................... 51 O`muri 56. Ilén`s`s ea ojrtinazis y eak`n`eieas ........................................... .................................................................. ........................... .... 5= O`muri 59. Eabilei Eabilei ean Vrj Vrjeuhtj euhtj al an barh barhiej iej mnjkin .................... ......................................... .................................. ............. 11 ................................................................... ........................... .... ?; O`muri 5;. @lmrasjs ea iht`v`eieas Jre`lir`is ............................................
Âle`ha ea Uiknis Uikni 9. Lôbarj ea abpnaiejs j trikidiejras y e`raht`vjs .......................................... .................................................... .......... 9 Uikni ;. [`asmj piâs al Ahuiejr ..................... ........................................... ............................................ ............................................ ............................. ....... 5 Uikni 8. Kinilzi ea pimjs al an Ahuiejr ...................... ............................................ ............................................ .................................... .............. ? Uikni 5. [`asmjs y raspuasti in r`asmj iejptiejs pjr ni abprasi Iksjrpans Iksjrpansii X.I. .............. 96 Uikni 1. O`lilh`ib`altj ea Iksjrpansi X.I. .................... .......................................... ............................................. ............................... ........ 99 Uikni ?. Oihtjras malariejras ea vinjr `ltarljs ............................................. ................................................................. ........................ 95 Uikni =. Oihtjras malariejras ea vinjr axtarljs .................... ........................................... ............................................. ........................ 91 Uikni 3. Oihtjras malariejras ea r`asmj `ltarlj ............................................. ................................................................. ........................ 91 ........................................... ............................................. ........................ 9? Uikni 0. Oihtjras malariejras ea r`asmj axtarlj .................... ......................................... ........................................... ........................................... ............................... ......... ;= Uikni 96. Iht`vjs @bprjeuht`vj @b prjeuht`vjss................... ................................................ .... ;= Uikni 99. Onudj ea aoaht`vj pjr nis iht`v`eieas ea jparih`øl ............................................ Uikni 9;. @le`hiejras @le`hiejras ea iht`v`eie Iksjrpansi Vip Vipanas anas Iksjrkalta Iksjrkaltass X.I. .......................... ;3 Uikni 98 @le`hiejras ea n`qu`eaz Iksjrpansi Vipanas Iksjrkaltas Iksjrkaltas X.I. .............................. ;0 ....................... 86 Uikni 95. Avjnuh`øl ea Iequ`s`h`jlas ea Hipax hjl raspahtj in iht`vj tjtin ....................... ............................................ 89 Uikni 91. % ea pirt`h`pih`øl ea HIVAS raspahtj i nis valtis ............................................. ......................................... ........................................... .................................. ............. 88 Uikni 9?. E`str`kuh`øl ean O`lilh`ib`altj ................... .......................................... ............................................ ............................................ ...................................... ................ 8? Uikni 9= .]jrg`lm Hip`tin .................... Uikni 93. Avjnuh`øl ea eann âle`ha ea n`qu`eaz ........................................... .............................................................. .................................. ............. 8= .............................................................. ........................................... ................................... ............. 56 Uikni 90. Âle`has ea iht`v`eie ......................................... .......................................... ............................................ ........................................... ......................... 58 Uikni ;6 Âle`has ea aleaueib`altj .................... ............................................................... ......... 5? Uikni ;9. Avjnuh`øl ea njs âle`has ea raltik`n`eie ....................................................... ........................................... ............................................. ........................... .... 53 Uikni ;; . Bitr`z Ea Vjlearih`øl Ea [`asmjs ..................... Uikni ;8. Astritam`is ea Iksjrpansi X.I .......................................... ................................................................. ...................................... ............... 16 .......................................... ............................................. ...................................... ............... 19 Uikni ;5. Astritam`is ea E`oaralh`ih`øl .................... ......................................... ............................................ ...................................... ................ 1; Uikni ;1. Astritam`is ea Aspah`in`zih`øl ................... ................................................................... ............................................ ......................................... .................... 15 Uikni ;?. Vrjyahh`jlas............................................ Uikni ;=. Bitr`z ea vir`ih`øl ea nis n is valtis ................... ......................................... ........................................... .................................. ............. 13 Uikni ;3. Bitr`z ea vir`ih`øl ean hjstj ea valtis.................... ........................................... ............................................. ........................ 13 Uikni ;0. Bitr`z ea vir`ih`øl ean mistj ea jparih`øl y ea valtis ........................................ ........................................ 13 Uikni 86. Ashalir`j Ualealh`in ................... ......................................... ........................................... ........................................... ............................... ......... 10 Uikni 89. Ashalir`j Jpt`b`sti ...................... ........................................... ........................................... ............................................ ............................... ......... ?6 Uikni 8;. Ashalir`j Vas`b`sti ...................... ........................................... ........................................... ............................................ ............................... ......... ?9 Uikni 88. _altis vinjrieis al b`nnjlas ea eøniras ..................... ........................................... .......................................... .................... ?; Uikni 85. Hrah`b`altj ea ni `lonih`øl .................... ........................................... ............................................ ......................................... .................... ?5 Uikni 81. Vrjbae`j ea hrah`b`altj al valtis ................... ......................................... ............................................ ............................... ......... ?5 Uikni 8?. Vrjyahh`øl ea valtis ..................... .......................................... ........................................... ............................................ ............................... ......... ?1 Uikni 8=. Avinuih`øl c`stør`hi piri eatarb`lir prjbae`j ea hjstj ea valtis .................... ?? Uikni 83. Vrjyahh`øl ean hjstj ea valtis ................... ......................................... ............................................ ...................................... ................ ?? Uikni 80. Qt`n`eie Kruti al _altis ..................... ........................................... ............................................ ........................................... ......................... ?= Uikni 56. Vrjyahh`øl ea mistj ea valtis .................... .......................................... ............................................. ...................................... ............... ?= Uikni Ieb`l`strit`vjs .................... .......................................... ............................................ ............................................ ........................... ..... ?3 Uikni 59. 5;. Mistjs Eitjs c`stør`hjs jtrjs `lmrasjs ......................................... ................... ............................................ ...................................... ................ ?3
............................................ ............................................ ............................................ ............................................. ........................... .... ?0 Uikni 58. @lmrasjs ...................... ........................................... ............................................ ........................................... .................................. ............. ?0 Uikni 55. Mistjs o`lilh`arjs o `lilh`arjs..................... ......................................... ........................................... .................................. ............. =6 Uikni 51. Astiej ea [asuntiejs Vrjyahtiej ................... ........................................... ............................................ ............................................ ........................... ..... =9 Uikni 5?. Vrjyahh`øl ea HIVAS ..................... ........................................... ............................................. ...................................... ............... =9 Uikni 5=. Vrjyahh`øl ea nis `lvars`jlas ..................... ................................................................. ...................................... ............... =; Uikni 53. Vrjyahh`øl ea ni eaprah`ih`øl .......................................... ............................................ ............................................. ........................ =8 Uikni 50. Vrjyahh`øl ean hip`tin latj ea trikidj t rikidj ..................... Uikni 16. Vrab`sis .................... .......................................... ............................................ ............................................ ............................................. ........................... .... =5 ......................................... ........................................... .................................. ............. =? Uikni 19. Hénhunj ea ni tisi ea hrah`b`altj ................... ....................................... == Uikni 1;. Eitjs c`stør`hjs piri hénhunj ean hjstj eas ipinilhiej ....................................... Uikni 18 Uisi ea eashualtj ......................... .............................................. ........................................... ............................................ ............................... ......... =0 Uikni 15 Onudjs ea hidi ihtuin`ziejs. .......................................................... ................................................................................ ........................... ..... =0 Uikni 11. _injr ihtuin ean vinjr ras`euin ................... ......................................... ............................................ ...................................... ................ 36 .............................................. .... 36 Uikni 1?. Hénhunj ean vinjr ea nis ihh`jlas j pirt`h`pih`jlas .......................................... Hjbpirih`øl ean vinjr jktal`ej hjl an vinjr hjltikna ................... ....................................... .................... 36 Uikni 1= Hjbpirih`øl
9. Ilén`s`s c`stør`hj ea ni abprasi y ean sahtjr I. Ilén`s`s astritàm`hj y hjbpat`t`vj I.9 @lojrbih`øl malarin ea ni abprasi Iksjrpansi Vipanas Iksjrkaltas X.I. oua hjlst`tu`ei bae`ilta ashr`turi pôkn`hi hanakriei ilta an Ljtir`j Eàh`bj Yu`ltj ean hiltøl Yu`tj, Ejhtjr Iltjl`j _ihi [u`njvi, s`alej jtjrmiei an ;= ea alarj ea 900= a `lshr`ti al an [am`strj Barhilt`n ean b`sbj Hiltøl an ;= ea oakrarj ea 900=. (Inkiriej, ;693) An jkdatj sjh`in ea Iksjrpansi as ni anikjrih`øl, trilsojrbih`øl, `ltarbae`ih`øl y hjbarh`in`zih`øll ea pipanas `leustr`inas y iksjrkaltas al tjeis hjbarh`in`zih`ø t jeis sus hnisas.
Hip`tin iutjr`ziej, sushr`tj y pimiej4 Hip`tin iutjr`ziej4 QXE 9‐035.666,66
Hip`tin sushr`tj4 QXE 00;.666,66
Hip`tin pimiej4 QXE 00;.666,66
Lôbarj ea abpnaiejs j trikidiejras y e`raht`vjs. Uikni 9. Lôbarj ea abpnaiejs j trikidiejras y e`raht`vjs
[AI [A I
L BA BA[J [J EA AB ABVN VNAI AIEJ EJXX
Vrjeuhh`øl
5?
Ieb`l`strih`øl
9?
Ujtin
?;
Anikjriej pjr4 Nis iutjris Oualta4 (Iksjrpansi X.I., ;693)
I.; Ilén`s`s ean bihrj ibk`alta ea ni abprasi Ealtrj ean ilén`s`s ean bihrj ibk`alta sa pjerél astiknahar talealh`is lih`jlinas i trivàs ea eitjs astieâst`hjs qua parb`til hjljhar nis vir`iknas sjkra nis huinas ni abprasi lj t`ala hjltrjn, as eah`r, qua lj puaea `lonu`r al annis y pjr annj t`ala qua ieiptirsa i nis b`sbis.
Vrjeuhtj `ltarlj krutj
9
An prjeuhtj `ltarlj krutj as „ni subi ea tjejs njs k`alas y sarv`h`js o`linas qua prjeuha ul piâs j uli ahjljbâi, tiltj s` cil s`ej anikjriej pjr abprasis lih`jlinas j axtrildaris ealtrj ean tarr`tjr`j lih`jlin, qua sa ram`stril al ul par`jej eatarb`liej‒
([jer`muaz & Ilhcipix`, ;69;).
O`muri 9. V@K-Ahuiejr V@K-Ahuiejr ;66=296 ;66=2966, 6, Uisis ea vir`ih`øl tr`bastri tr`bastrinn
Anikjriej pjr4 Kilhj Haltrin ea Ahuiejr Oualta4 Kilhj Haltrin ean Ahuiejr
Ni ahjljbâi ahuitjr`ili (V@K) al an iùj ;69= ram`strø ul hrah`b`altj al tàrb`ljs rainas ea 8.6%., asta e`lib`sbj sa axpn`hi pr`lh`pinbalta pjr an iubaltj ean Mistj ean Hjlsubj O`lin ea njs Cjmiras, an Mistj ea Hjlsubj O`lin ean Mjk`arlj Malarin y nis Axpjrtih`jlas. Al tàrb`ljs hjrr`altas, an V@K inhilzø QXE 968,61= b`nnjlas. Al an pr`bar tr`bastra ean iùj ;693, ram`strø ul hrah`b`altj `ltariluin ea 9,0%, hjl ranih`øl in pr`bar tr`bastra ea ;69= y prasaltø uli raeuhh`øl ea 6,=% hjl raspahtj in tr`bastra iltar`jr. Al vinjras hjrr`altas (i prah`js ea hiei tr`bastra), an V@K inhilzø QXE ;?.5=9 b`nnjlas. (Kilhj haltrin ean Ahuiejr, ;693) ;693)
;
O`muri ;. Avjnuh`øl Avjnuh`øl y pirt`h`pih`øl pirt`h`pih`øl ean V@K ea ni `leustr`i biluoihturari biluoihturari
Anikjriej pjr4 (Agjs, ;693) Oualta4 Kilhj Haltrin ean Ahuiejr
Ni biluoihturi as ulj ea njs sahtjras bés `bpjrtiltas piri ul piâs, parb`ta ni anikjrih`øl ea prjeuhtjs hjl ul biyjr l`van ea vinjr imramiej, al njs huinas ax`sta kuali hipih`eie ea e`oaralh`ih`øl y, sjkra tjej, ul baljr l`van ea vjnit`n`eie al njs prah`js. An easirrjnnj ea asta sahtjr ojrtinaha in piâs, yi qua bés inné ea nj balh`jliej, tibk`àl malari malari oualtas ea abpnaj hin`o`hieis y ojrbinas. (Agjs, ;693)
Ilén`s`s4 Viri an pr`bar tr`bastra ean ;693 sa ram`strø ul hrah`b`altj ean 9,0% qua asté ealtrj ea njs pirébatrjs piri qua lj ax`sti ul r`asmj piâs intj, y ealtrj ea ni `leustr`i biluoihturari sa puaea jksarvir qua asté tal`alej ul hrah`b`altj intj al an piâs nj huin s`ml`o`hirâi uli jpjrtul`eie piri ni abprasi
Uisi ea `lonih`øl „Ni `lonih`øl sa eao`la hjbj ul iubaltj pars`stalta y sjstal`ej ean l`van malarin ea
prah`js i trivàs ean t`abpj‒ ([jer`muaz & Ilhcipix`, ;69;).
O`muri 8. Avjnuh`øl Avjnuh`øl c`stør`hi `lonih `lonih`øl `øl
Oualta4 Kilhj Haltrin ean Ahuiejr Anikjriej pjr4 (@lst`tutj Lih`jlin ea Astieâst`his y Halsjs, ;693)
8
Ilén`s`s4 Al huiltj i ni tisi ea `lonih`øl asté ealtrj ea njs pirébatrjs piri qua lj sai uli saùin ea inarti ea ul r`asmj piâs intj nj qua pjerâi sar uli jpjrtul`eie yi qua an Âle`ha ean prah`j in Hjlsub`ejr lj iubalti easprjpjrh`jlieibal easprjpjrh`jlieibalta. ta.
[`asmj piâs „An [`asmj Viâs sa pue`ari eao`l`r hjbj an r`asmj i uli pàre`ei i ni qua asté axpuastj an `lvars`jl`sti pjr rizjlas ranih`jlieis hjl ni sjkarilâi y ni s`tuih`øl ahjløb`hi ean piâs‒ piâs ‒
(Birquaz, ;66?).
Uikni ;. [`asmj piâs al Ahuiejr
BAXX BA
[@ [@AX AXMJ MJ VI X
Alarj ;69?
9535.16
E`h`abkra ;69?
?=0.16
Alarj ;69= E`h`abkra ;69=
?91.66 (;03; -;169,16) 536.16
Alarj ;693
510.66
Anikjriej pjr4 Njs iutjras Oualta4 Kilhj Haltrin ean Ahuiejr
Ni raeuhh`øl al an r`asmj piâs raspjlea i "ihartieis pjnât`his `bpnabaltieis al kalao`h`j ean piâs, pr`lh`pinbalta pr`lh`pinbalta su iparturi in e`énjmj hjl tjejs njs sahtjras prjeuht`vjs prjeuht`vjs y vir`is bae`eis piri malarir hjlo`ilzi y itrihh`øl ea hip`tinas" (An Uanamrioj, ;693)
Ilén`s`s4 An r`asmj piâs as kistilta intj nj qua prjvjhi qua njs jrmil`sbjs `ltarlih`jlinas lj t`alal hjlo`ilzi al ni jtjrmih`øl ea hràe`tjs y tibk`àl t ibk`àl ciha qua pjs`knas `lvars`jl`stis lj vail in piâs hjbj uli jph`øl.
An easabpnaj
„Virta prjpjrh`jlin ea ni pj knih`øl ahjløb`hibalta ahjløb`hibalta iht`vi (VAI) qua qua sa alhualtri alhualtri `lvjnultir`ibalta `liht`vi‒ ([jer`muaz & Ilhcipix`, ;69;).
5
O`muri 5. Uisi ea ea easabpnaj easabpnaj
Anikjriej pjr4 @lst`tutj Ahuitjr`ilj ea Astieâst`his y Halsjs, ;693 Oualta4 (@lst`tutj Lih`jlin ea Astieâst`his y Halsjs, ;693)
Ilén`s`s4 An easabpnaj al an Ahuiejr piri an bas ea Xapt`abkra ;693 as ea 5,6% nj qua lj raprasalti uli saùin ea inarti piri an piâs eak`ej i qua lj supari an 96% qua as ni bae`i parj sa eaka hjls`earir qua tiltj an sukabpnaj hjbj an abpnaj lj pnalj t`alal ul `bpjrtilta pjrhaltida ea bés ean 56%
Kinilzi ea pimjs
„Ni kinilzi ea pimjs as ul `lstrubaltj hjltikna al an huin sa rasubal
s`stabét`hibalta nis trilsihh`jlas ahjløb`his altra ul piâs y an rastj ean bulej al ul parâjej ea t`abpj eatarb`liej.‒ ([jer`muaz & Ilhcipix`, ;69;)
Xamôl njs eitjs pukn`hiejs pjr an Kilhj Haltrin ean Ahuiejr (KHA), an sinej ea ni Hualti Hjrr`alta sa eaka pr`lh`pinbalta in rasuntiej pjs`t`vj ea ni Kinilzi ea K`alas (QXE ;39,5 b`nnjlas), al ejlea an vinjr ea nis axpjrtih`jlas aqu`vinaltas i QXE 1.810,? b`nnjlas suparø in ea nis `bpjrtih`jlas, qua sa uk`hirjl al QXE 1.6=3,; b`nnjlas.
1
Uikni 8. Kinilzi ea pimjs al an Ahuiejr
Anikjriej pjr4 Kilhj Haltrin ean Ahuiejr Oualta4 Kilhj Haltrin ean Ahuiejr
Ilén`s`s4 An 8% ean Vrjeuhtj Vrjeuhtj @ltarlj Krutj ean iùj ;69= oua ea QXE 8609,= 8609,= b`nnjlas y an eào`h`t ea ni hualti hjrr`alta ea ni kinilzi ea pimjs oua ea QXE -;;1 b`nnjlas, nj qua s`ml`o`hi qua hjlst`tuya uli inarti piri an piâs eak`ej i qua sa asté `bpjrtilej bés qua axpjrtilej, pjr nj ax`sta biyjr onudj ea e`larj sin`alta.
I.8 Ilén`s`s ean b`hrjibk`alta „Xjl tjeis nis ouarzis qua uli abprasi puaei hjltrjnir y bae`ilta nis huinas sa pratalea njmrir an hibk`j easaiej.‒
Xambaltj ea barhiej Njs pr`lh`pinas sambaltjs ea barhiej ea njs prjeuhtjs al an piâs sjl4
Iutjsarv`h`js.
U`alei ea Kirr`j.
Biyjr`stis.
Oar`is y Barhiejs n`kras.
_alti pjr hiténjmj.
B`l` Barhiejs.
?
Oirbih`is.
U`aleis pjr Eapirtibaltj.
Kiziras.
Jtrjs.
Hjbpat`ejras ihtuinas Altra njs pr`lh`pinas hjbpat`ejras ea Iksjrpansi sa eastihil4
XHI Oib`n`i
G`bkarny Hnirg
HBVH Vrjt`si
Jtrjs `bpjrtiejras njhinas
Vrjeuhtjs sust`tutjs Lj ax`stal sust`tutjs ranaviltas piri an pipan y sus prjeuhtjs ear`viejs, hirtøl y jtrjs. E`hcjs prjeuhtjs sjl pirta ea ni hilisti oib`n`ir y bilt`alal uli pirt`h`pih`øl `bpjrtilta ealtrj ean hjlsubj ea nis abprasis al sus e`oaraltas prasaltih`jlas. X`l abkirmj, ax`sta ul sust`tutj qua pjerâi ciharna oralta in pipan, an pnést`hj, parj eiei ni hrah`alta talealh`i cih`i nj ahj nøm`hj asta pjs`kna sust`tutj `râi pare`alej ouarzi. Al tjej hisj, ni sust`tuh`øl ea prjeuhtjs sa ei in `ltar`jr ea ni `leustr`i. ([jer`muaz & Ilhcipix`, ;69;)
Vjear ea lamjh`ih`øl abprasi4 prjvaaejr An pr`lh`pin `lsubj ea ni `leustr`i pipanari as ni punpi ea pipan y an kimizj, njs huinas, raprasaltil al prjbae`j altra 16% y ?6% ean hjstj ea prjeuhh`øl ean pipan. An ikistah`b`altj ea pipan, eapale`alej ean t`pj ea bitar`i pr`bi, sa rain`zi ea e`varsis ojrbis. Njhinbalta sa t`ala uli ibpn`i kisa ea prjvaaejras (pipan rah`hniej y kimizj), a `ltarlih`jlinbalta sa rain`zi pr`lh`pinbalta i trivàs ea mrileas hjbarh`in`ziejris `ltarlih`jlinas ea "hjbbje`t`as", iulqua al inmuljs hisjs sa iequ`ara ni punpi e`rahtibalta ea njs prjeuhtjras.
=
As `bpjrtilta eastihir qua al njs ônt`bjs ejs iùjs an pjear ea lamjh`ih`øl ea njs prjvaaejras ci e`sb`lu`ej eak`ej i ni hiâei al ni eabilei eabilei bule`in pjr pipan, pipan, nj qu quaa malarø malarø uli sjkrajoarti al an b`sbj (hjl ni hjlsahualta hjlsahualta hiâei al an prah`j ea ni punpi) y parb`t`ø qua nis abprasis pipanaris puaeil lamjh`ir badjras prah`js al sus bitar`is pr`bis. ([jer`muaz & Ilhcipix`, ;69;)
I.5 Ilén`s`s ean Ibk`alta Ibk`alta @ltarlj
9. Hipih`eie E`raht`vi y jrmil`zih`øl i) Ast`nj ea e`rahh`øl An ast`nj ea maralh`i qua t`ala Iksjrpansi as kurjhrét`hj yi qua ealtrj ea su eashr`ph`øl ea nis jkn`mih`jlas ean Maralta Malarin sa rabirhi qua an „Maralta Malarin raprasalti i ni abprasi y hjjre`li tjejs njs rahursjs i o`l ea njmrir jkdat`vjs astiknah`ejs al ni pnil`o`hih`øl astritàm`hi, mirilt`zilej mirilt`zilej an astr`htj hubpn`b`altj ea nis nnayas ayas ean piâs y nis ljrbis `ltarlis ea ni abprasi‒ (Iksjrpansi
X.I.), pjr nj huin `loar`bjs qua an ast`nj ea e`rahh`øl as an iltas
balh`jliej, yi qua sa n`b`ti in hubpn`b`altj ea nj astiknah`ej.
3
O`muri 1. Astruhturi jr jrmil`zih`jlin mil`zih`jlin
Ljti4 Jrmil`mribi ea ni hjbpiùâi. (Iksjrpansi X.I., ;693) Oualta4cttps4//www.kjnsieaqu`tj.hjb/upnjies/barhiejs/ab`sjras/prjspahtjs/IOualta 4cttps4//www.kjnsieaqu`tj.hjb/upnjies/barhiejs/ab`sjras/prjspahtjs/IK/IKXJ[VANXI/[AK/IKXJ[VANXI%;6JKN%;6;693.peo
;. Vjs`h`øl hjl raspahtj in r`asmj Ni abprasi Iksjrpansi X.I. kushi b`t`mir njs r`asmjs ea barhiej i trivàs ea raspuastis hjbj hjbpirt`r y ihaptir al su biyjrâi. Kushilej hjltritir abprasis isamuriejris tiltj ea sus iht`vjs o`djs, isâ hjbj ea su `lvaltir`j y ihaptir njs r`asmjs ea barhiej qua prasalti ni abprasi hjbj sa buastri al ni tikni 9, i hjlt`luih`øl4
0
Uikni 5. [`asmjs y raspuasti in r`asmj iejptiejs pjr ni abprasi Iksjrpansi X.I.
[`asmj
[aspuasti
Eashr`ph`øl ean prjhasj
Hràe`tj
Hjbpirt`r
Ni hjbpiùâi Iksjrpansi ci jptiej pjr trisoar`r an r`asmj i trivàs ea uli hjkarturi ean 966% ea sus
Hjbarh`in
valtis i trivàs ea uli pøn`zi pøn` zi ea samurjs hrae`t`h`i hjl Xamurjs Hjlo`ilzi X.I.
Iht`vjs o`djs
Hjbpirt`r
Ilta ni pjs`k`n`eie ea hitéstrjoas ibk`altinas, ni tjtin`eie ea ni `loriastruhturi ea ni abprasi sa alhualtri huk`arti pjr pøn`zis ea samurjs.
Easikistah`
[aeuh`r
Xa b`t`mi i trivàs ea ni kuali ranih`øl hjl sus prjvaaejras XQ[MINI[A X.I. y AHJ@LMIXI AHJ@LMAL@A[@I IBK@ALUIN X.I., njs b`sbjs qua pjsaal uli hipih`eie `lstiniei ea prjeuhh`øl ea 9666 y =66 tjlanieis balsuinas raspaht`vibalta, ea
b`altj
[`asmjs ean
Ihaptir
lamjh`j
Ualealh`i ea
Ihaptir
ni
nis huinas Iksjrpansi sjnj lahas`ti 866 tjlanieis balsuinas. Vjerâi eirsa ul ashalir`j al qua sa an`b`lal njs irilhanas i nis `bpjrtih`jlas y njs prah`js `ltarlih`jlinas ean pipan t`ssua sa raeuzhil erést`hibalta, oivjrah`alej i njs `bpjrtiejras, s`tuih`øl qua as buy `bprjkikna qua suhaei, puas ni e`oaralh`i al hjstj raspahtj in prjeuhtj oikr`hiej njhinbalta as mrilea Lj ax`sta ul r`asmj intj ea asta t`pj eak`ej i qua as ul barhiej hrah`alta isjh`iej hjl an l`van pjknih`jlin.
`leustr`i
Ljti. (Iksjrpansi X.I., ;693). Mast`øl ean r`asmj jrmil`zih`jlin. [ahupariei ea4
cttps4//www.kjnsieaqu`tj.hjb/upnjies/barhiejs/ab`sjras/prjspahtjs/IK/IKXJ[VANXI/[AK/IKXJ[VANXI%;6JKN%;6;693.peo
8. [anih`jlas hjl tarharjs Hjbj sa balh`jlø iltar`jrbalta njs ejs pr`lh`pinas prjvaaejras sjl4 Xurminira X.I. y Ahj`lmisi Ahj`lmal`arâi Ibk`altin nis huinas t`alal uli hipih`eie suo`h`altabalta inti piri sit`soihar ni eabilei ea Iksjrpansi. [aspahtj i su o`lilh`ib`altj o`lilh`ib`altj Iksjrpa Iksjrpansi nsi (;693), al ni h`rhunir ea joarti pôk pôkn`hi n`hi ea jkn`mih`jlas ea nirmj pnizj qua sa lamjh`il al an aspih`j kursét`n ljs `le`hi qua an
96
o`lilh`ib`altj sa rain`zi al su biyjrâi hjl rahursjs prjp`js7 s`l abkirmj tibk`àl rah`ka ipjrtas ea tarharjs qua sa cil biltal`ej al ul prjbae`j ea 51,6?% eurilta njs iùjs ;691, ;69? y ;69= hjbj sa buastri al ni tikni ;. Nj qua `le`hi ul kual hubpn`b`altj pjr pirta ea ni abprasi eurilta astjs iùjs.
Uikni 1. O`lilh`ib`altj ea Iksjrpansi X.I.
I J
;691 ;691
;69? ;69?
;69= ;69=
Vrjp`j
;.63=.=;8
9.159.138
9.0=3.?=;
Uarharjs
036.=69
9.=5?.3=8
9.03=.56?
UJUIN
8.6?3.5;5
8.;33.51?
8.0??.6=3
%Vrjp`j
?3,65%
5?,33%
50,30%
%Uarharjs
89,0?%
18,9;%
16,99%
Ljti. Njs eitjs prasaltiejs buastril an o`lilh`ib`altj prjp`j y axtarlj ea ni abprasi Iksjrpansi
cisti an iùj ;69=. [ahupariei ea4 cttps4//www.kjnsieaqu`tj.hjb/upnjies/barhiejs/ab`sjras cttps4//www.kjnsieaqu`tj.hjb/u pnjies/barhiejs/ab`sjras/prjspahtjs/IK/IKXJ[VANXI/[AK/IKXJ /prjspahtjs/IK/IKXJ[VANXI/[AK/IKXJ [VANXI%;6JKN%;6;693.peo
5. Hipih`eie hjbpat`t`vi Iksjrpansi X.I. as uli abprasi prjeuhtjri ea pipanas t`ssua, barhiej rahjljh`ej lj sjnj i l`van lih`jlin s`lj tibk`àl `ltarlih`jlinbalta. Xamôl an [@X@ Mnjkin U`ssua Jutnjjg an pipan t`ssua ci iubaltiej su eabilei i trivàs ean t`abpj aspah`inbalta al Is`i. Al Nit`ljibàr`hi ni eabilei ea asta prjeuhtj ci `ej al iubaltj s`alej piri an iùj ;691 ea 8.3 b`nnjlas ea tjlanieis qua raprasalti an 99% ea njs 85,3 b`nnjlas ea tjlanieis sjn`h`tiei i l`van bule`in. Viri ni prjyahh`øl ea valtis tjbirabjs al hualti nj balh`jliej pjr an [@X@ (s.o)4 Viri an iùj ;6;0 an [@X@ ast`bi ul `lhrabaltj ean hjlsubj ea t`ssua al 966 b`n b`nnjlas ea eøniras, pjr nj qua sa pravaa uli tisi ea hrah`b`altj ean 5,0% iluin al tjej an bulej y ean =% al njs piâsas abarmaltas An hrah`b`altj prav`stj al an barhiej ea Ibàr`hi Nit`li (s`l Kris`n) ean ;69? in ;6;5 as ea 8.366 i 5.??= Btjl. An hrah`b`altj par hép`ti ea hjlsubj ea U`ssua al ni ram`øl nit`ljibar`hili asté eiej pjr an `lhrabaltj ea prjeuhtjs e`st`ltjs in pipan ea kiùj, qua cil tjbiej ouarzi piri italear nis lahas`eieas ea njs hjlsub`ejras.. (Asgj Qutani, hjlsub`ejras Qut ani, s.o)
99
Al Ahuiejr an tibiùj ea prjeuhh`øl al an ;69? oua ea ?5666 tjlanieis y piri o`linas ean iùj ;693 sa prjljst`hi qua ast`bi ul hrah`b`altj s`ml`o`hit`vj al ni eabilei. Nj qua parb`ta qua, pasa i qua ax`stal mrileas mrileas hjbpat`ejras hjbj hjbj XHI Oib`n`i, G`bkarny Hnirg, HBVH Vrjt`si y jtrjs `bpjrtiejras njhinas Iksjrpansi hukra mril pirta ean barhiej. Njs prjeuhtjs qua joraha Iksjrpansi sa hnis`o`hil al ejs mrupjs4 an sambaltj al sab`anikjriej y an sambaltj ea prjeuhtjs anikjriejs.Al an sambaltj anikjriej alhjltribjs44 kjk`lis n`bp`øl, alhjltribjs n` bp`øl, kjk`lis sarv`nnati, kjk`lis stir. B`altris qua al an sambaltj anikjriej ax`stal prjeuhtjs hjbj4 e`spalsiejr, ejbàst`hj `lst`tuh`jlin, n`bp`øl, kuntjs U`ssua Knilhj, kuntjs U`ssua Cikilj, kuntjs U`ssua N`bp`øl prjeuhtjs U`alei L, prjeuhtjs U`alei L ;, sarv`nnati salsih`jlas, tjinni T Knilhi, tjinni T liturin. Ea astjs an biyjr pjrhaltida ea valtis samôl njs eitjs prasaltiejs pjr ni abprasi Iksjrpansi piri an iùj ;69= samôl sambaltj sjl njs prjeuhtjs sab`anikjriejs, njs qua sa valeal al biyjr hilt`eie (o`muri ;)7 b`altris qua an ilén`s`s pjr prjeuhtj buastri qua an bés vale`ejs sjl nis kjk`lis stir hjl ul 1;% ea valtis y an pipan `lst`tuh`jlin hjl ul ;?% ea valtis (o`muri ?).
O`muri ?. Vjrhaltida Vjrhaltida ea valti valtiss samôl an sa sambaltj mbaltj Xab`ani nikkjriejs
anikjriejs
5;% 13%
Ljti4 Ni `bimal buastri an pjrhaltida ea valtis samôl sambaltj. Njs eitjs sjl jktal`ejs ean Vrjspahtj
ea Jkn`mih`jlas Jkn`mih`jlas ea Iksjrpansi (;693).
9;
O`muri =. Vjrhaltida Vjrhaltida ea val valtis tis samôl an prj prjeuhtj euhtj
;69= kjk`lis n`bp`jl
kjk`lis sarv`nnati
kjk`lis stir
e`spalsiejr
ejbàst`hj
`lst`tuh`jlin
n`bp`øl
prjeuhtjs t`alei 9
prjeuhtjs t`alei ;
sarv`nnati sa salsih`jlas tjinni z knilhi 1,=% 6,6% 6,;% 6,6% 6,;% =,?% ;?,1%
9,5%
tjinni x liturin 5,1% ;,9%
19,=%
6,9%
Ljti4 Ni `bimal buastri an pjrhaltida ea valtis samôl prjeuhtj. Njs eitjs sjl jktal`ejs ean
Vrjspahtj ea Jkn`mih`jlas Jkn`mih`jlas ea Iksjrpansi (;693).
1. Hipih`eie tahljnøm`hi/prjeuht`vi Ni abprasi `lhurr`ø al ul prjyahtj nnibiej [akjk`liejri hjbj pirta ea ni prjp`aeie pnilti y aqu`pj cih`alej qua ax`st`ari uli `bpnabaltih`øl tahljnøm`hi y s`stabit`zir ni biqu`lir`i piri ni prjeuhh`øl ea pipan s`l abkirmj lj sa jksarvil e`oaralh`is s`ml`o`hit`vis al ni astruhturi. Ni biqu`lir`i biqu`lir`i hjl ni qu quaa hualti in iùj ;693 aas4 s4 Biqu`li rakjk`liejri hjlvars`øl iutjbét`hi
Biqu`lir`i t`ssua ojrbih`øl
Vralsi Aloireiejri
Xarv`nnatarj
Béqu`li [akjk`liejri ea tjrtis
Kinilzi e`m`tin
Biqu`li pipan S
Aqu`pj ea hjbputj
98
?. Hipih`eie ean tinaltj cubilj i) Hjbpjs`h`øl ea ni løb`li Ni abprasi asté hjbpuasti pjr ?; abpnaiejs ea njs huinas 5? hjrraspjleal in érai ea prjeuhh`øl y ;3 in érai ieb`l`strit`vi.
k) Vjnât`hi nikjrin hjl raspahtj rabularih`jlas Njs abpnaiejs eakal astir hjltritiejs s`mu`alej an høe`mj ea trikidj y eaka pimirsa njs earahcjs ea nay. Ieabés, s` ax`sta ul høe`mj `ltarlj qua ramuna i njs trikidiejras.
h) Hjstj ea ni rajrmil`zih`øl Ni rasarvi piri ni duk`nih`øl a `leabl`zih`øl sa ci `lhrabaltiej easea an iùj ;661 ejlea ci suk`ej easea 918?60 cisti an iùj ;69= qua oua ea 85==?;$. As eah`r qua an `lhrabaltj ea ni prav`s`jlas piri duk`nih`øl a `leabl`zih`øl his` sa cil eupn`hiej al njs 8 unt`bjs iùjs y qua ``le`hi le`hi qua mril hilt`eie ea njs ttrikidiejras rikidiejras qua ihtuinbalta nikjril sjl parsjlis biyjras qua yi b`sbj hubpnal su h`hnj ea trikidj. P eiej qua lj cil ax`st`ej buhcis quadis raoaraltas i ni hin`eie ean hn`bi nikjrin pjeabjs isub`r qua an iubaltj ea astjs vinjras lj cil s`ej eak`ej in iubaltj al huilej i `leabl`zih`jlas.
e) Oihtjras ea jreal durâe`hj y o`shin Ihtuinbalta ni abprasi t`ala ejs pøn`zis qua hukral iht`vjs o`djs y r`asmjs hrae`t`h`js. Hualti hjl ul pràstibj qua yi asté s`alej pimiej y piri an iùj ;693 t`ala ul vinjr ea ;8?=38$ qua raprasalti an 1% ean pis`vj.
I1. @ealt`o`hih`øl ea njs oihtjras oihtjras malariejras malariejras ea vinjr Uikni ?. Oihtjras malariejras ea vinjr `ltarljs
OJ[UINATIX @UAB @U AB EAXH[ AXH[@V @VH H@ L Hipih`eie e`raht`vi y Astruhturi k`al eao`l`ei y ean`b`tiei bjstrilej oulh`jlas y raspjlsiknas jrmil`zih`øl
95
[aspuasti in r`asmj
Hipih`eie hjbpat`t`vi Hipih`eie tahljnøm`hi Uinaltj Cubilj O`lilh`ib`altj Vrjeuhtjs Xambaltj ea barhiej Vrjeuhtjs sust`tut`vjs Vjear ea lamjh`ih`øl
U`ala ul kual ilén`s`s y raspuasti in r`asmj piri njs r`asmjs hrae`t`h`js, iht`vjs o`djs, y ea easikistah`b`altj yi qua b`l`b`zi al su biyjrâi y raeuha an `bpihtj i ni `lst`tuh`øl. Kuali pjs`h`øl hjbpat`t`vi eak`ej in inti eabilei. Ni biqu`lir`i qua pjsaa vi ihjrea i nis luavis talealh`is tahljnøm`his Lj as buhcj nj qua parb`ta v`m`nir an hubpn`b`altj ea nis ljrbit`vis y ax`m`r prjeuht`v`eie. Kualis ranih`jlas nikjrinas. n ikjrinas. O`lilh`ib`altj O`lilh`ib`al tj al su biyjrâi prjp`j An biyjr prjeuhtjr ea valti sa pjerâi hjls`earir `le`spalsikna y s`l `bpjrtir huiltj huasta nis parsjlis nj iequ`r`rél. _ir`aeie ea prjeuhtjs piri ni valti Lj ax`sta Xjkraeabilei qua parb`ta ib`ljrir njs prah`js i njs eabileiltas eabileil tas hjbj as an hisj ea asti abprasi biluoihturari.
Ljti. Nis ojrtinazis ea ni abprasi astél ranih`jlieis hjl njs oihtjras `ltarljs y hjltrjniknas pjr pirta ea ni alt`eie qua s`ml`o`hil uli valtidi qua nas parb`tal talar bés raltik`n`eie i ni jrmil`zih`øl.
Uikni =. Oihtjras malariejras ea vinjr axtarljs
JVJ[UQL@EIEAX @UAB @U AB Vrjeuhtj @ltarlj Krutj
EAXH[ AXH[@V @VH H@ L V@K biyjr i 9, nj qua `le`hi lj astir al inarti ea [`asmj sjkarilj. @lonih`øl ealtrj ean rilmj ljrbin qua `le`hi qua njs prah`js sjl ihhas`knas.
@lonih`øl
Ljti. Nis jpjrtul`eieas ea ni abprasi astél ranih`jlieis hjl njs oihtjras axtarljs qua lj sjl hjltrjniknas pjr
pirta ea ni alt`eie qua pjerâil s`ml`o`hir uli valtidi qua nas pa parb`tal rb`tal talar bés raltik`n`eie i ni jrmi jrmil`zih`øl l`zih`øl.
I?. @ealt`o`hiejr ea njs oihtjras oihtjras malariejras malariejras ea r`asmj Uikni 3. Oihtjras malariejras ea r`asmj `ltarlj
EAK@N@EIEAX @UAB @U AB EAXH[ AXH[@V @VH H@ L Hipih`eie e`raht`vi y Bjeanj ea n`earizmj iutjhrét`hj lj ei iparturi i bés `eais jrmil`zih`øl
91
[aspuasti in r`asmj
Hipih`eie hjbpat`t`vi Uinaltj Cubilj Uahljnjmâi
Bini raspuasti in r`asmj ea lamjh`j eak`ej i qua lj astél prapiriejs ilta ilta ni val`ei ea bés hjbpatalh`i hjbpatalh`i y eapaleal ea nis bae`eis ramunitjr`is ean mjk`arlj Ax`stal abprasis hjl badjr `bimal `lst`tuh`jlin bés rahjljh`ei Intj iprjv`s`jlib`altj al hisj ea duk`nih`jlas a `leabl`zih`jlas. Qsj ea nis U@H `lao`h`alta piri ni hjbul`hih`øl ea prjeuhtjs
Ljti. Njs r`asmjs ea ni alt`eie qua v`alal hjl oihtjras `ltarljs ranih`jliejs y hjltrjniejs pjr ni alt`eie. Nj qua
pjerâi ioahtir i ni hjlsahuh`øl hjlsahuh`øl ea njs jkdat`vjs `lst`tuh`jlinas `lst`tuh`jlinas y b`ljrir an vinjr ea ni jrmil`zi jrmil`zih`øl. h`øl.
Uikni 0. Oihtjras malariejras ea r`asmj axtarlj
IBALITIX @UAB @U AB [`asmj piâs
EA EAXH XH[ [@VH@ @VH@ L [`asmj piâs intj nj qua iubalti ni eashjlo`ilzi ea njs `lvars`jl`stis.
Easabpnaj
Vasa i qua ni tisi ea easabpnaj lj ansupari an 96%, ni tisi ea easabpnaj imramiei qua `lhnuya sukabpnaj s` supari asta pjrhaltida y buastri qua lj tjejs milil an bâl`bj kés`hj y lj t`alal piri iequ`r`r buhcjs ea njs n js k`alas qua lj sjl ea pr`bari lahas`eie.
Kinilzi ea pimjs
Ni kinilzi ea pimjs as buy inti y hjlst`tuya ul intj r`asmj piâs qua puaea ioahtir pjrqua ax`sta ul biyjr onudj ea e`larj sin`alta
Ljti. Njs r`asmjs ea ni alt`eie qua v`alal hjl oihtjras axtarljs ranih`jliejs hjl hibk`js al an barhiej j al an
astiej qua lj puaeal sar hjltrjniejs pjr ni alt`eie. Nj qua pjerâi ioahtir i ni hjlsahuh`øl ea njs jkdat`vjs `lst`tuh`jlinas y b`ljrir an vinjr ea ni jrmil`zih`øl. X` lj sa tjbil bae`eis pravalt`vis.
K. E`imløst`hj O`lilh`arj K9. Ilén`s`s cjr`zjltin y vart`hin ea njs astiejs ea rasuntiejs y kinilhas kinilhas malarinas malarinas
Ilén`s`s _art`hin An Ilén`s`s _art`hin as uli carrib`alti o`lilh`ari qua avinôi an oulh`jlib`altj ea ni abprasi al ul par`jej yi aspah`o`hiej.
9?
Xamôl Dia G. Xc`b y Djan M. X`aman an ilén`s`s vart`hin „s`rva piri pjlar al av`ealh`i
ni astruhturi `ltarli ea ni abprasi, tibk`àl parb`ta ni avinuih`øl `ltarli y sa vinjri ni s`tuih`øl ea ni abprasi hjl su `leustr`i.‒ (M`tbil, ;66=) ;66=)
Ilén`s`s Cjr`zjltin An ilén`s`s cjr`zjltin as uli carrib`alti o`lilh`ari qua axib`li ni talealh`i qua t`alal nis hualtis al an trilshursj tr ilshursj ean t`abpj. Xamôl ni Ql`vars`eie @ltaribar`hili piri an Easirrjnnj an ilén`s`s cjr`zjltin „An
hénhunj ea asta ilén`s`s sa rain`zi hjl ni e`oaralh`i ea ejs j bés iùjs piri talar hjbj rasuntiej vinjras iksjnutjs y hjl pjrhaltida tjbilej ul iùj kisa piri pjear talar eitjs ranaviltas qua ilin`zir‒. (QL@E, ;693) ;693)
Astiej ea [asuntiejs Nis valtis ea Iksjrpansi X.I piri an iùj ;691 prasaltil ul hrah`b`altj ean ;1,08% hjl raspahtj raspahtj in iùj ;695 ;695 harrilej an an ;691 hjl $;.3;5.856, piri an ;69? ax`sta ul eahrah`b`altj ean -3, 3?% hjl hjl raspahtj in ;691 harrilej harrilej an iùj ;69? hjl $;.1=5.9?5 y piri an iùj ;69= ;69= tuvj ul hrah`b`altj hrah`b`altj ean 5;,53% hjl hjl raspahtj iinn iùj ;69= harrilej harrilej an iùj hjl $;.300.;38.
O`muri 3. @lmrasjs @lmrasjs pjr valtis valtis iluinas ea Iksjrpans Iksjrpansii
@lmrasjs $ 8.666.666,66 $ ;.066.666,66 $ ;.366.666,66 $ ;.=66.666,66 $ ;.?66.666,66
$ ;.300.;38,66
$ ;.3;5.856,66
$ ;.166.666,66
$ ;.1=5.9?5,66
$ ;.566.666,66 ;691
;69?
;69=
Anikjriej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
An hjstj ea valtis ea Iksjrpansi piri an iùj ;691 oua ea $;.;69.;31 nj qua hjrraspjlea an ==,05% ea nis valtis tjtinas, piri an iùj ;69? an hjstj ea valtis oua ea $;.;68.058 nj qua rasprasalta an 31,?;% ea nis valtis tjtinas, o`linbalta piri an iùj ;69= njs hjstjs ea valti ouarjl $;.300.;38 qua hjrraspjlea an =0,61% ea nis valtis.
9=
O`muri 0. Hjstj ea _altis ea Iksjrpansi
Anikjriej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Njs mistjs ieb`l`strit`vjs ea Iksjrpansi piri an iùj ;691 ouarjl ea $;?5.136 nj qua raprasalti an 0,8=% ea nis valtis tjtinas, piri an iùj ;69? ouarjl $8?5.103 nj qua hjrraspjlea an 95,9?% ea nis valtis y piri an iùj ;69= ouarjl $83;.30; nj qua raprasalti an 96,55% ea nis valtis tjtinas. Njs mmistj istj ea valti ea ea Iksjrpansi piri an iùj ;691 ouarjl ouarjl ea $=1.=6; nj qua raprasalti an ;,?3% ea nis valtis tjtinas, piri an iùj ;69? ouarjl $9;?.93; nj qua hjrraspjlea an 5,06% ea nis valtis y piri an iùj ;69= ouarjl $;;3.=?0 nj qua raprasalti an ?,;5% ea nis valtis tjtinas.
O`muri 96. Mistj ea Ieb`l`strih`ø Ieb`l`strih`øll y _alti
Anikjriej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Njs hjstjs ea valti raprasaltil an =0,61% ean tjtin ea valtis, njs mistjs ieb`l`strit`vjs hjrraspjleal an 96,55%, njs mistjs ea valti raprasaltil an ?,;5 % ea nis
93
haltis tjtinas, nis eaprah`ih`jlas hjrraspjleal in 6,85% ea nis valtis tjtinas y ni ut`n`eie jparaih`jlinn raprasalti an 8,05% ean tjtin ea valtis al an iùj ;69=. jparaih`jli
O`muri 99. Ilin`s`s _art`hin _art`hin
Anikjriej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Iksjrpansi X.I, t`ala uli ut`n`eie iltas ea `bpuastjs y pirt`h`pih`jlas piri an iùj ;691 ea $;=8.;=0 nj qua raprasalti an 0,?3% ean tjtin ea nis valtis, piri an ;69? ax`st`ø uli pàre`ei ea $-1381 qua raprasalti an -6,;8%y o`linbalta piri an iùj ;69= ni ut`n`eie iltas ea `bpuastjs oua ea $;85.590 nj qua raprasalti an ?,80% ean tjtin ea valtis. Ni ut`n`eie lati ean iùj ;691 as ea $911.5;6 nj qua raprasalti an %, piri an iùj ;69? Iksjrpansi tuvj uli pàre`ei ea $-58.?0= nj qua hjrraspjlea an % ean tjtin ea valtis, y o`linbalta piri an iùj ;69= tuvj uli ut`n`eie ea $9;0.88; nj qua raprasalti an %.
O`muri 9;. Qt`n`eieas Qt`n`eieas
Qt`n`eieas $ 866.666,66 $ ;66.666,66 $ 966.666,66 $ 6,66 ;691
;69?
;69=
-$ 966.666,66 Qt Qt`n `n`e `eie ie il ilta tass ea ea @bp @bp y Vir Virtt Anikjriej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Kinilha Malarin IHU@_JX
90
Qt`n Qt`n`e `eie ie Lati Lati
Njs iht`vjs hjrr`altas ea Iksjrpansi X.I piri an ;691 tuv`arjl ul eahrabaltj ean 91% hjl raspahtj in iùj ;695, eak`ej i qua ni hualti iht`vj pjr `bpuastjs e`oar`ejs tuvj ul eahrabaltj ean -55%, al an iùj ;69? njs iht`vjs hjrr`altas tuv`arjl ul hrah`b`altj ean 83% mrih`is i qua ni hualti jtris hualtis pjr hjkrir y hualtis pjr hjkrir ranih`jlieis tuv`arjl ul `lhrabaltj ean 3=8=% y 0==% raspaht`vibalta y piri an iùj ;69= njs iht`vjs hjrr`altas tuv`arjl ul `lhrabaltj ean 38% eak`ej i qua nis hualtis jtris hualtis pjr hjkrir y hualtis pjr hjkrir ranih`jlieis tuv`arjl ul hrah`b`altj ean ;56% y 95=% raspaht`vibalta.
O`muri 98. Hjbpjs`h`øl Hjbpjs`h`øl ea njs iht`vjs
Iht`vjs
56,1;% 10,53% Iht. ht. H Hjjrr`altas
Iht. Lj Lj Hj Hjrr`altas
Anikjriej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
O`muri 95. Hjbpjs`h`øl Hjbpjs`h`øl ean Iht`v Iht`vjj Hjrr`alta 9,?? 9,;?
Iht`vj hjrr`alta 6,=0 ;5,69 9,=5
5;,5;
;?,56 9,=9
Aoaht`vj Aoaht` vj y Aqu`vin Aqu`vinaltas altas ea ao aoaht`vj aht`vj Hualt Hualtis is pj pjrr hjk hjkriri riri hn`alt hn`altas as Hual Hualti tiss pjr hj hjkr krir ir ranih` ranih`jl jliei ieiss
Jtri Jt riss hhual ualti tiss ppjr jr hj hjkr krir ir
Vr Vrjv jv`s `s`j `jll ea hu hual alti tiss `l `lhj hjkr krik ikna nass
@l @lva valt ltir ir`j `jss
Ih Iht`v t`vjj pj pjrr `bpu `bpuas astjs tjs hjrr` hjrr`alt altas as
Xarv Xarv`h` `h`js js y jjtr trjs js ppimj imjss ilt` ilt`h` h`pie piejs js
4
Anikjriej pjr pjr Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
;6
Njs iht`vjs lj hjrr`altas al an iùj ;691 tuv`arjl ul hrah`b`altj ean 58% al ejlea ni hualti qua bés hrah`ø as prjp`aeie pnilti y aqu`pj hjl ul 5?% hjl raspahtj in iùj ;695, al an iùj ;69? njs iht`vjs lj hjrr`altas eahrah`arjl al 9% eak`ej i qua ni hualti qua bés eahrah`ø as prjp`aeie pnilti y aqu`pj qua kidj al ;% y piri an iùj ;69= njs iht`vjs lj hjrr`altas s`mu`arjl e`sb`luyalej e`sb`luyalej al ul ;% hjl raspahtj in iùj ;69? y ni hualti qua bés eahrah`ø oua jtrjs iht`vjs lj hjrr`altas qua eahrah`ø al 8;%.
O`muri 91. Hjbpjs`h`øl Hjbpjs`h`øl ean Iht`v Iht`vjj lj Hjrr`alta
Iht`vj lj Hjrr`alta 8,83
0?,?;
Vr Vrjp jp`a `aei eiee V Vni nilt ltii y Aqu Aqu`p `pjj
Jtrj Jtrjss iht iht`v `vjs js lj hj hjrr rr`a `alt ltas as
Anikjriej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
O`muri 9?. _ir`ih`jlas _ir`ih`jlas ean Iht`v Iht`vjj lj Hjrr`alta
Iht`vjs lj Hjrr`alta $ ;.556.666,66 $ ;.5;6.666,66 $ ;.566.666,66 $ ;.836.666,66 $ ;.8?6.666,66 $ ;.856.666,66 $ ;.8;6.666,66 ;691
;69?
Anikjriej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
;9
;69=
VIX@_JX An pis`vj tjtin piri an iùj ;691 oua $036.=69 y tuvj ul `lhrabaltj ean % hjl raspahtj in iùj ;695, piri an iùj ;69? oua $9.=5?.3=8 y tuvj ul hrah`b`altj ea % hjl raspahtj in iùj ;691 y piri an iùj ;69= an pis`vj tjtin ooua ua ea $9.03=.56? hjl ul `lhrabaltj ean % hjl raspahtj in iùj ;69?.
O`muri 9=. _ir`ih`øl _ir`ih`øl ean pis`v pis`vjj hjrr`alta y lj hjrr`alta
Vis`vjs $ 9.366.666,66 $ 9.?66.666,66 $ 9.566.666,66 $ 9.;66.666,66 $ 9.666.666,66 $ 366.666,66 $ ?66.666,66 $ 566.666,66 $ ;66.666,66 $ 6,66
$ 9.118.15;,66
$ 9.?80.?55,66
$ 3;=.60;,66
$ 918.?60,66
$ 908.889,66
;691
;69?
Vi Vis` s`vj vj H Hjr jrr` r`al alta ta
$ 85=.=?;,66
;69=
Vi Viss`vj `vj lljj Hjrr Hjrr`a `alt ltaa
Anikjriej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Ealtrj ean pis`vj hjrr`alta piri an ;691 ni hualti bis bis raprasaltit`vi raprasaltit`vi nis hualtis pjr pimir prjvaaejras ouarjl ea $516.613 y ttuvj uvj uli pirt`h`pih`jl ean 95,?=% sjkra an tjtin ea pis`vjs parj tuvj uli e`sb`luh`jl ean -;0% hjl raspahtj in ;695 y e`sb`luyj piri an ;69? i $809.38= y tuvj uli pirt`h`pih`jl ean 99,0;% hjl raspahtj in tjtin ea pis`vjs y e`sb`luyj al -98% hjl raspahtj in ;691, y o`linbalta piri an iùj ;69= nis hualtis pjr pimir prjvaaejras prjvaaejras oua ea $?38.??? tal`alej uli pirt`h`pih`jl ean 9=,;5% hjl raspahtj in tjtin ea pis`vjs y tuvj ul `lhrabaltj ean =5% hjl raspahtj in iùj ;69?.
;;
O`muri 93. Hjbpjs`h`øl Hjbpjs`h`øl Vis`vj Hjrr`alta
Hjbpjs`h`jl ean Vis`vj hjrr`alta ;;,3 6,6 5,= 6,6 93,9
15,5
Hualtiss pjr Hualti pjr pimir prjvaa prjvaaejras ejras Jtris hualtis pjr pimir Vrastibjs ihh`jl`stis
Ilt`h`pj hn`altas
Jk Jknn`mi mihh`jlas hj hjrrr`al alttas
Jtrjs pis`vjs hjrr jrr`altas
Anikjriej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Ealtrj ean pis`vj lj hjrr`alta piri an iùj ;691 ni hualti [asarvi piri duk`nih`jl pitrjlin a `bpuastjs `bpuastjs e`oar`ejs e`oar`ejs oua ea $918.?60 hjl uli uli pirt`h`pih`jl pirt`h`pih`jl ealtrj ean ean pis`vj pis`vj tjtin ea 1,69% hjl ul `lhrabaltj ean 5% hjl raspahtj in iùj ;695, al an iùj ;69? oua ea $908.889 hjl uli pirt`h`pih`jl ealtrj ean pis`vj tjtin ea 1,33% hjl ul `lhrabaltj ean ;?% hjl raspahtj in iùj ;691 y o`linbalta piri an iùj ;69= oua ea $85=.=?; hjl uli pirt`h`pih`øl ealtrj ean pis`vj tjtin ea 3,==% hjl ul `lhrabaltj ean 36% hjl raspahtj in iùj ;69?.
O`muri 90. Hjbpjs`h`øl Hjbpjs`h`øl ean Vis Vis`vj `vj lj Hjrr`alta
Vis`vj lj Hjrr`alta
966
[asarvi piri duk`nih`jl pitrjlin a `bpuastjs e`oar`ejs e `oar`ejs Anikjriej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
VIU[@BJL@J
;8
Al an iùj ;691 an pitr`bjl`j oua ea $;.63=.=;8 hjl uli pirt`h`pih`jl ean ?3,65% hjl raspahtj in tjtin ea pis`vj y pitr`bjl`j y ul `lhrabaltj ean 18%% hjl raspahtj in iùj ;695, piri an iùj ;69? ;69? an pitr`bjl`j oua $9.159.138 hjl uli pirt`h`pih`jl pirt`h`pih`jl ean5?,33 % hjl raspastj in tjtin pis`vj y pitr`bjl`j y tuvj ul eahrah`b`altj ean -;?% hjl raspahtj in iùj ;691 y o`linbalta piri an iùj ;69= an pitr`bjl`j oua ea $9.0=3.?=; hjl uli pirt`h`pih`jl ean 50,30% hjl raspastj in tjtin pis`vj y pitr`bjl`j y tuvj ul hrah`b`altj ean ;3% hjl raspahtj in iùj ;69?.
O`muri ;6. Hjbpjs`h`øl Hjbpjs`h`øl ean Vitr Vitr`bjl`j `bjl`j
Hjbpjs`h`jl ean Vitr`bjl`j -3,9
?,1
16,9
;8,= 6,=
;=,6
Hualtis Hualt is ppjr jr ppimir imir prjvaa prjvaaejras ejras Jtris hualtis pjr pimir Vrastibjs ihh`jl`stis
Ilt`h`pj hn`altas
Jkn`mi mihh`jl jlas as hjrr`al alttas
Jtrjs pis`vjs hjrr jrr`altas
Anikjriej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
;5
Abprasi Iksjrpansi X.I Ilén`s`s vart`hin y cjr`zjltin ean kinilha malarin In iùj ;691-;69?-;69= ;691-;69?-;69=
;1
Abprasi Iksjrpansi X.I Ilén`s`s vart`hin y cjr`zjltin ean astiej ea rasuntiejs In iùj ;691-;69?-;69=
;?
K;. @ealt`o`hih`øl y hénhunj e`rahtj ea njs iht`vjs `bprjeuht`vjs Njs iht`vjs `bprjeuht`vjs u jh`jsjs sjl hjls`eariejs iquannjs qua lj iyueil i ni alt`eie i malarir onudjs bjlatir`js parj `muin sjl ea `bpjrtilh`i piri ni alt`eie. I hjlt`luih`øl sa eatinnil njs iht`vjs `bprjeuht`vjs ea Iksjrpansi X.I
Uikni 96. Iht`vjs @bprjeuht`vjs
IHU@_JX Iht`vjs pjr `bpuastjs $8?813 hjrr`altas $3;.;;9 Jtrjs Iht`vjs lj hjrr`altas UJUIN $ 993.1=0
$;505=
$;609=
$968.89= $?0.39; $ 9;3.;?5 $ 06.=;0
_art`hin ;69= 6,18% 9,=?% ;,;0%
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
An tjtin ea iht`vjs `bprjeuht`vjs al an iùj ;69= sjl ean ;,;0% al ranih`øl hjl an tjtin ea
iht`vjs, y tuv`arjl ul eahrabaltj ean 9?% hjl raspahtj in iùj ;69?, nj qua eabuastri qua njs iht`vjs prjeuht`vjs ea Iksjrpansi X.I sjl bés qua sus iht`vjs `bprjeuht`vjs y ni alt`eie i njmriej e`sb`lu`r sus iht`vjs `bprjeuht`vjs.
K 8. Ilén`s`s ea ni avjnuh`øl ea njs Onudjs ea nis iht`v`eieas jparit`vis Uikni 99. Onudj ea aoaht`vj pjr nis iht`v`eieas ea jparih`øl Onudj ea aoaht`vj pjr nis
;695
;691
;69?
;69=
$ ;.91=.358,66
$ ;.15;.;36,66
$
;.58?.839,66
$ 8.8;;.?00,66
$ (;.93?.3;;,66)
$(;.59?.?93,66)
$ (;.568.113,66)
$ (8.;59.0?8,66)
$
$
$
$
(96.0=9,66)
@bpuastjs pimiejs
$
(80.063,66)
Jtrjs @lmrasjs latj
$
83.=?5,66
$
?3.?;9,66
iht`v`eieas ea jparih`øl Aoaht`vj rah`k`ej ea hn`altas Aoaht`vj
pimiej
i
prjvaaejras y abpnaiejs Mistjs Kilhir`js
(;5.653,66)
(;.3=8,66)
(?.=?3,66)
;=
Aoaht`vj latj ut`n`ziej pjr nis
$
(18.6;=,66)
$
9;;.=30,66
$
;?.611,66
iht`v`eieas ea jparih`øl Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
O`muri ;9. Avjnuh`øl ea nis pr`lh`pinas hualtis ean Onudj ea aoaht`vj pjr nis iht`v`eieas ea jparih`øl
Onudj ea aoaht`vj pjr nis iht`v`eieas ea jparih`øl $5.666.666,66 $8.666.666,66 $;.666.666,66 $9.666.666,66 $-
Aoaht`vj rah`k`ej ea hn`altas Aoaht`vj pimiej i prjvaaejras y abpnaiejs 9
;
8
5
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693) „Nis iht`v`eieas
ea Jparih`øl, sjl rahursjs prjhaealtas ea nis jparih`jlas pr`lh`pinas
y jre`lir`is ea ni abprasi.‒ (@LHV, ;693).
Ni avjnuh`øl ea njs onudjs ea iht`v`eieas ea jparih`øl t`alal uli vir`ih`øl `lastikna, `l`h`ilej hjl ul sinej lamit`vj piri an iùj ;695, su p`hj bés intj al an iùj ;691 hjl $9;; $9; ; =30,66
, uli hiâei ean 36 % piri an iùj ;69?, y uli nava rahuparih`øl piri an iùj ;69=. Viri ilin`zir nis hiusis ea nis vir`ih`jlas iltas balh`jlieis sa jksarviril e`oaraltas vir`iknas, qua ioahtil i asta onudj ea iht`v`eieas ea jparih`øl, altra annis tjbirabjs hjbj raoaralh`i inmuljs `le`hiejras ea iht`v`eie y n`qu`eaz.
Uikni 9;. @le`hiejras ea iht`v`eie Iksjrpansi Vipanas Iksjr Iksjrkaltas kaltas X.I. @le`hiejras ea iht`v`eie [jtih`øl ea hualtis Vjr hjkrir hn`altas Var`jej prjbae`j ea hjkrj i hn`altas (eâis)
;691 96,91 81,5?
;69? ?,=3 18,60
;69= 1,90 ?0,88
Aeie prjbae`j ean `lvaltir`j [jtih`øl ea hualtis pjr pimir(eâis)
5?,10 5,00
53,;9 1,?1
50,?5 5,80
=;,99
?8,=9
39,08
;3
Var`jej prjbae`j ea pimj (eâis) Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Uikni 98 @le`hiejras ea n`qu`eaz Iksjrpansi Ik sjrpansi Vipanas Iksjrkaltas X.I. N`qu`eaz [izøl hjrr`alta
;691 6,==
;69? 6,1=
;69= 6,03
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Hjbj sa puaea jksarvir an iùj al qua sa tuvj ul biyjr onudj ea jparih`øl (iùj ;691), oua i hiusi ea qua ax`stâi uli biyjr aoaht`v`eie ea hjkrj i hn`altas, al asta iùj an par`jej prjbae`j ea hjkrj i hn`altas sa biltuvj al 81 eâis iprjx`bieibalta, iprjx`bieibalta, an huin hrah`ø al ul ??% piri an iùj ;69?, iubaltilej i 18 eâis iprjx`bieibalta, nj qua hiusø qua sa e`sb`luyi nis altrieis ea aoaht`vj pjr hjkrj i hn`altas, e`sb`luyalej isâ an aoaht`vj latj ea nis iht`v`eieas ea jparih`øl, y ni n`qu`eaz ea ni abprasi, ni huin e`sb`luyj ea 6,== piri an iùj ;691 i 6,1= piri an iùj ;69?. Viri an iùj ;69= an hjkrj i hn`altas in `muin qua ni aeie prjbae`j ean `lvaltir`j s`mua al easmista, parj piri asta iùj sa jksarvi uli biyjr aoaht`v`eie al an biladj hualtis pjr pimir, njmrilej talar ul biyjr par`jej ea t`abpj ea hràe`tj hjl njs prjvaaejras, an huin pisj ea ?8 eâis al in iùj ;69? i 39 eâis piri an iùj ;69=, nj qua parb`t`ø qua ax`sti uli nava rahuparih`øl ean aoaht`vj latj ea nis iht`v`eieas ea jparih`øl, y nj qua parb`t`ø al an iubaltj ean âle`ha ea n`qu`eaz piri asta iùj.
K 5. Ilén`s`s ea ni avjnuh`øl ea nis `lvars`jlas (Hipax) ea ni abprasi
;0
O`muri ;;. Avjnuh`øl ea prjp`aeie, pnilti y aqu`pj.
Vrjp`aeieas,pnilti y aqu`pjs $;.166.666,66 $;.666.666,66
$;.85=.6?0,66
$;.861.631,66
$;.;30.;;3,66
;6 91
;6 9?
; 69=
$9.?63.;95,66
$9.166.666,66 $9.666.666,66 $166.666,66 $;6 95
Vrjp`aeieas,pnilti y aqu`pjs
Oualta4 Anikj Anikjriej riej pjr pjr 4 Njs iutjras Oualta4 (Iksjrpansi X.I., ;693)
O`muri ;8. Avjnuh`øl ea nis iequ`s`h`jlas ea HIVAS
Iequ`s`h`jlas ea HIVAS $9;6.666,66
$96=.306,66
$966.666,66 $36.666,66 $?6.666,66 $56.666,66
Iequ`s`h`jlas ea HIVAS $;1.068,66
$;0.316,66
;691
;69?
$;6.666,66 $;69=
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Uikni 95. Avjnuh`øl ea Iequ`s`h`jlas ea Hipax hjl raspahtj in iht`vj tjtin
Vrjp`aeieas, pnilti y aqu`pjs
Iùj
Iequ`s`h`jlas ea
Vrjp`aeie
Ujtin Iht`vj
HIVAS
pnilti y aqu`pj
% Virt`h`pih`øl raspahtj i njs iht`vjs tjtinas
;691
$ ;1.068,66
$ ;.85=.6?0,66
$ 8.6?3.5;5,66
=?,50%
86
;69?
$ ;0.316,66
$ ;.861.631,66
$ 8.;33.51?,66
=6,96%
;69=
$ 96=.306,66
$ ;.;30.;;3,66
$ 8.6??.6=3,66
=5,??%
Vrjbae`j
=8,=1%
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
O`muri ;5. Virt`h`pih`øl HIVAS raspahtj i njs iht`vjs tjtinas
% Virt`h`pih`øl HIVAS raspahtj i njs iht`vjs tjtinas $8.166.666,66
$8.;33.51?,66
$8.6?3.5;5,66
$8.6??.6=3,66
$8.666.666,66 $;.166.666,66 $;.666.666,66
$;.85=.6?0,66
$;.861.631,66
$;.;30.;;3,66
Iequ`s`h`jlas ea HIVAS
$9.166.666,66
Vrjp`aeie pnilti y aqu`pj
$9.666.666,66
Ujtin Iht`vj
$166.666,66 $-
$;1.068,66
$;0.316,66
$96=.306,66
;691
;69?
;69=
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Vjnât`his ea @lvars`øl Ni hjbpiùâi Iksjrpansi Vipanas Iksjrvaltas Iksjrv altas X.I. al njs ônt`bjs tras iùjs ci rain`ziej `lvars`jlas al prjp`aeieas, pniltis y aqu`pjs, ni b`sbi qua raprasalti an =5,??% ean tjtin ea Iht`vjs al an par`jej ;69=, asti ci prasaltiej uli prjpjrh`øl prjbae`j ean =8,=1% al njs ônt`bjs tras par`jejs.
Uikni 91. % ea pirt`h`pih`øl ea HIVAS raspahtj i nis valtis
Iùj
;691
;69?
;69=
_altis
$ ;.3;5.856,66
$ ;.1=5.9?5,66
$ 8.??=.==6,66
Hipax
$ ;1.068,66
$ ;0.316,66
$ 96=.306,66
Hipax/ valtis Vrjbae`j
6,0;%
9,9?%
;,05% 9,?=%
89
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Al njs ejs ônt`bjs iùjs ;69?, ;69= raspaht`vibalta, ni `lvars`øl al prjp`aeie pnilti y aqu`pj iubaltj al ul 866 % parb`t`àlejna i ni hjbpiùâi Iksjrpansi Vipanas Iksjrvaltas X.I. iequ`r`r y ihtuin`zir sus iht`vjs o`djs, nnjmrilej jmrilej isâ iubaltir an inhilha ea sus jparih`jlas. Al an iùj ;69= sa `lv`rt`ø al ni hjbpri ea uli luavi biqu`lir`i pjr $=6.130,66, $=6.130 ,66, ni huin parb`t`ø qua ni prjeuhh`øl iubalta, `lhrabaltilej nis valtis al ul =6% piri asta iùj.
K 1. Ilén`s`s ea ni avjnuh`øl ea ni o`lilh`ih`øl ea ni abprasi Ujeis nis abprasis lj s`abpra hualtil hjl rahursjs e`spjl`knas piri hukr`r sus lahas`eieas parbilaltas j tabpjrinas piri hjlt`luir hjl ni jparih`øl ljrbin ean lamjh`j as pjr asj qua „Huilej ni abprasi hiraha ea rahursjs prjp`js suo`h`altas piri hrair, easirrjnnir j
s`bpnabalta biltalar an lamjh`j jkdatj ea su iht`v`eie, lahas`ti rahurr`r in barhiej ea hip`tinas in jkdatj ea jktalar njs ojlejs ea o`lilh`ib`altj lahasir`js.‒ (Ejbâlmuaz, ;66=, pém. 96)
Is`b`sbj, „ni ranih`øl qua eaka ax`st`r ax `st`r altra ojlejs prjp`js prjp`js y idaljs as e`oâh`n ea eatarb`lir (…) sa pjerâi
`lhnusj ieb`t`r qua trikida sjnibalta hjl o`lilh`ih`øl idali. Al rain`eie, ni prjpjrh`øl qua eaka ax`st`r altra ibkis hnisas ea o`lilh`ih`øl valeré eatarb`liei pjr su `lh`ealh`i al ni raltik`n`eie‒ (Ejbâlmuaz, ;66=, pém. 99)
Al huiltj i nis pjnât`his ea o`lilh`ib`altj qua ci biltal`ej Iksjrpansi al njs ônt`bjs rasinti qua an o`lilh`ib`altj ea ni abprasi sa nj ci rain`ziej hjl rahursjs prjp`js y hjl tarharjs, al an ;691 an o`lilh`ib`altj hjl rahursjs prjp`js oua ean ?3% hjl ul bjltj ea QXE ;‐63=.=;8, b`altris qua al an ;69? raprasaltø an 5=%, al an ;69= ; 69= sa `lhrabaltø ul ;3% hjl raspahtj in ;69?. ;69 ?. An o`lilh`ib`altj hjl tarharjs prasaltø ul `lhrabaltj `lhrabal tj ean =3% al an iùj ;69? hjl ranih`øl in ;691, al an ;69= iubaltilej ul 95% raspahtj in ;69?.
8;
O`muri ;1. E`str`kuh`øl ean O`lilh`ib`altj ea Iksjrpansi X.I
E@XU[@KQH@ØL EAN O@LILH@IB@ALUJ UJUIN VI VIX@_J
UJUIN VI VIU[@B @BJ JL@J
$9.0=3.?=;,66
$9.159.138,66
$;.63=.=;8,66 $036.=69,66 ;691
$9.=5?.3=8,66
$9.03=.56?,66
;69?
;69=
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Uikni 9?. E`str`kuh`øl ean O`lilh`ib`altj ;691
I J UJUIN VIX@_J UJUIN VIU[@BJL@J UJUIN V + VIU[
$ $ $
;69?
036.=69,66 ;.63=.=;8,66 8.6=6.580,66
$ $ $
9.=5?.3=8,66 9.159.138,66 8.;06.5=;,66
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
O`muri ;?. E`str`kuh`øl ean O`lilh`ib`altj al %
E@XU[@KQH@ØL EAN O@LILH@IB@ALUJ AL % UJUIN VI VIX@_J
?3% 8;% ;691
UJUIN VI VIU[@BJ @BJL@J
5=%
16%
18%
16%
;69?
;69=
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
88
;69= $ $ $
9.03=.56?,6 9.03=.56?,666 9.0=3.?=;,6 9.0=3.?=;,666 8.0?3.601,6 8.0?3.601,666
Ealtrj ean o`lilh`ib`altj hjl tarharjs ni hjbpiùâi Iksjrpansi bilt`ala pis`vjs i hjrtj y nirmj pnizj, biltal`alej biyjr prjpjrh`øl al an hjrtj pnizj, al njs ônt`bjs tras par`jejs7 al njs iùjs balh`jliejs sa av`ealh`i uli prjpjrh`øl prjbae`j ean 31% hjl ranih`øl in tjtin ean Vis`vj, b`altris qua an pis`vj i nirmj pnizj raonadi ul 91% ea prjpjrh`øl.
O`muri ;=. E`str`kuh`øl ean Vis`vj
E@XU[@K QH@ØL EA N VIX@_J VIX@_J VIX@ VI X@_J _JX X HJ HJ[[ [[@A @ALU LUAX AX
VIX@ VI X@_J _JX X LJ HJ HJ[[ [[@A @ALU LUA A
9?%
99%
9=%
35%
30%
3;%
;691
;69?
;69=
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
[aspahtj in o`lilh`ib`altj hjl tarharjs al an hjrtj pnizj, sa eastihil tras hualtis. Al pr`bar numir, sa jksarvi hualtis pjr pimir prjvaaejras, ni b`sbi qua al malarin al an barhiej ea pipan y rah`hniej biladi ppjnât`his jnât`his ea pimj in hjrtj pnizj, p nizj, nj qua malarin malar in qua Iksjrpansi bilada asta b`sbj s`stabi hjl sus prjvaaejras ea bitar`i pr`bi7 al an iùj ;69= raprasaltø an 5;% hjl ranih`øl in tjtin ea Vis`vj Hjrr`alta. Ni samulei hualti hjl biyjr ranavilh`i as ni ea jtrjs pis`vjs hjrr`altas, hjl an 86% ea prjpjrh`øl hjl ranih`øl in tjtin ea Vis`vj i hjrtj Vnizj al an iùj ;69=. Ni tarhari hualti qua eastihi as Vis`vjs pjr `bpuastjs hjrr`altas, ni b`sbi qua an ;69= raonadi an 9;% ea prjpjrh`øl ean tjtin ean Vis`vj Hjrr`alta.
85
O`muri ;3. Vr`lh`pinas hualtis ean Vis`vj Hjrr`alta
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Al huiltj in o`lilh`ib`altj hjl rahursjs prjp`js sa raonadi al ni hjbpjs`h`øl ean pitr`bjl`j ea ni hjbpiùâi, an huin sa eatinni al an s`mu`alta mréo`hj4
O`muri ;0 E`str`kuh`øl ean Vitr`bjl`j ;69= [asuntiejs ean adarh`h`j Ipjrtas piri ?% oututj iubaltj ea hip`tin ;6%
suparév`t pjr vinuih`øl ;8%
E@XU[@KQH@ØL EAN VIU[@BJL@J ;69=
Hip`tin Xjh`in 58%
[asuntiejs [asarvi Namin 9% ihubuniejs -=%
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Hjbj pjeabjs jksarvir an 58% ean pitr`bjl`j asté hjbpuastj ean hip`tin sjh`in, samu`ej ean ;8% hjl suparév`t pjr vinuih`øl y ipjrtas piri oututj iubaltj ea hip`tin hjl an ;6%.
81
K ?. Ilén`s`s ea ni ieb`l`strih`øl ean wjrg`lm hip`tin. Iltas ea ilin`zir ni ieb`l`strih`øl ean hip`tin ea trikidj vibjs i eao`l`r an b`sbj piri nj huin [`zzj (;66=) balh`jli qua „An hip`tin ea trikidj latj j hip`tin ea trikidj as ni hilt`eie ea e`larj qua ni abprasi lahas`ti piri biltalar an m`rj cik`tuin ean lamjh`j‒. (pém. 968) Ea `muin bilali „Ni `bpjrtilh`i ean hip`tin ea trikidj al ni malarih`øl ea vinjr ea nis abprasis
sa pjla al av`ealh`i i pirt`r ea ni iusalh`i ean b`sbj ([`zzj, ;66=, pém. 968), i pirt`r ea astis
ejs prab`sis pjeabjs eao`l`r qua an hip`tin ea trikidj as lahasir`j piri qua ni abprasi puaei mast`jlir sus iht`v`eieas piri an njmrj ea sus jkdat`vjs.
Uikni 9= .]jrg`lm Hip`tin IÙJ Iht`vj Hjrr`alta
;695 $ =16.1??,66
;691 $ ?80.985,66
;69? $ 336.615,66
;69= $9.?6=.683,66
V[JBAE@J $ 0?0.903,66
Vis`vj Hjrr`alta
$ 08=.56=,66
$ 3;=.60;,66
$ 9.118.15;,66
$9.?80.?55,66
$ 9.;80.5;9,;1
Hip`tin ea trikidj latj
$ -93?.359,66
$-93=.013,66
$ -?=8.533,66
$ -8;.?6?,66
$ (;=6.;;8,;1)
_altis
$ ;.;5;.=9;,66
$ ;.3;5.856,66
$ ;.1=5.9?5,66
$ 8.??=.==6,66
$ ;.3;=.;5?,16
-3,88%
-?,?1%
-;?,9?%
-6,30%
-99%
HUL/_altis
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Ilén`s`s Iksjrpansi as uli abprasi buy pirt`hunir, eak`ej i qua t`ala ul hip`tin ea trikidj lamit`vj, al kisa i njs eitjs ni biyjr e`oaralh`i altra an iht`vj hjrr`alta sjkra an pis`vj hjrr`alta rahia al an iùj ;69? hjl ul hip`tin ea trikidj ea -$ ?=8.533,66 , as eah`r al asa iùj piri hubpn`r sus jkn`mih`jlas eak`ø hjltriar hjltridj eauei i nirmj pnizj, ul hip`tin ea trikidj lamit`vj raonadi ul easaqu`n`kr`j j prjknabis ea n`qu`eaz, as eah`r njs iht`vjs hjrr`altas lj sjl suo`h`altas piri hukr`r nis lahas`eieas `lbae`itis, pjr nj qua `bpn`hi ni lahas`eie ea iubaltir an iht`vj hjrr`alta, qua puaea ciharsa hjl ni valti ea inmôl in môl iht`vj lj hjrr`alta j hjltriar eauei i nirmj nir mj pnizj.
8?
Ual`alej al hualti qua an hip`tin ea trikidj as an birmal ea samur`eie hjl an qua hualtil nis abprasis piri o`lilh`ir su m`rj cik`tuin, as oéh`n var qua huilej asta ashisai, yi qua nis abprasis lj puaeal easirrjnnir l` sus iht`v`eieas ljrbinas qua sjl nis qua nis iyueil i malarir vinjr, l` kushir luavjs lamjh`js piri iubaltir su vinjr. ([`zzj, ;66=, pém. 96?) Altjlhas al kisa i nj iltar`jr pjeabjs eatarb`lir qua iksjnparsi t`ala prjknabis ea n`qu`eaz qua lj s`abpra s`ml`o`hi qua ni abprasi t`ala pare`eis s`lj sjnibalta raonadi uli ieb`l`strih`øl qua lj mast`jli ea bilari ieahuiei njs rahursjs ea ni jrmil`zih`øl j qua prao`ara eir pr`jr`eie i `lvars`jlas qua malaril biyjr raltik`n`eie.
K =. Ilén`s`s ea njs rit`js o`lilh`arjs
Âle`ha ea n`qu`eaz Njs âle`has ea n`qu`eaz ea uli abprasi buastril buas tril ni hipih`eie ea pimj ea uli alt`eie oralta
i sus eaueis i hjrtj pnizj, ealtrj ea njs `le`hiejras qua ni abprasi Iksjrpansi buastri sa alhualtril4 pruaki hjrr`alta, pruaki éh`ei y an hip`tin ea trikidj.
Uikni 93. Avjnuh`øl ean âle`ha ea n`qu`eaz
N`qu`eaz Vruaki hjrr`alta
;691 6,==;=
;69? 6,1??1
;69= 6,0369
6,58
6,83
6,=5
19,?=%
-93=,013
-?=8,533
-8;,?6?
-;03,6;
Vruaki éh`ei Hip`tin ea trikidj latj (b`nas QXE)
Vrjbae`j ==,89%
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Vruaki hjrr`alta
8=
O`muri 86. Avjnuh`øl ean âle`ha ea pruaki hjrr`alta.
Vruaki hjrr`alta ; 9
6,==;=
6,1??1
;691
;69?
6,0369
6 ;69=
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Ni pruaki hjrr`alta avinôi njs iht`vjs hjrr`altas sjkra njs pis`vjs hjrr`altas, hjrr`altas , al ni abprasi Iksjrpansi sa ci biltal`ej ul âle`ha ea n`qu`eaz prjbae`j ea 6.== eøniras al an iht`vj hjrr`alta, pjr hiei eønir al an pis`vj hjrr`alta ealtrj ea njs iùjs ;691, ;69? y ;69=. Vasa i qua an iùj ;69= buastri uli rahuparih`øl hjl raspahtj i njs vinjras pisiejs, s`alej asta iùj al ejlea ni abprasi t`ala an âle`ha ea n`qu`eaz bés intj, as eah`r pjr hiei eønir qua eaka, t`ala 6,0; piri raspineir asta
âle`ha s`mua bjstrilej ul l`van `loar`jr in øpt`bj øp t`bj qua as ea 9$ al an iht`vj hjrr`alta pjr hiei qua ni abprasi eaka.
Vruaki éh`ei O`muri 89. Avjnuh`øl ean âle`ha ea pruaki éh`ei
Vruaki éh`ei
9
6,58
6,83
9
;
6,=5
6 8
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Jtrj `le`hiejr `bpjrtilta as an âle`ha ea n`qu`eaz `lbae`iti j pruaki éh`ei qua b`ea ni hipih`eie ea pimj ea uli abprasi hjl njs iht`vjs bés nâqu`ejs ea ni b`sbi, as eah`r piri su hénhunj axhnuya an vinjr ea `lvaltir`js. Viri an iùj ;69= njs `lvaltir`js raprasaltirjl ul 96,63% ean vinjr tjtin ea njs iht`vjs, y harhi ea ul ;1% ean vinjr ea njs iht`vjs hjrr`altas, as eah`r harhi ea ni huirti pirta ea njs iht`vjs hjrr`altas lj as til hjrr`alta, y lj as tjbiej al hualti piri an hénhunj ea ni pruaki éh`ei. 83
In hinhunir an vinjr prjbae`j ea asta `le`hiejr sjkra njs iùjs astue`iejs asta as ea 6,1;, prasaltilej an vinjr bés intj al an iùj ;69=, hjl 6,=5 eøniras eø niras al an iht`vj bés hjrr`alta pj pjrr hiei eønir ea eauei. An `le`hiejr `eain as ulj, parj sa ihaptil vir`ih`jlas ea cisti 6,;. Nj qua `bpn`hirâi qua sa alhualtri al vinjras rizjliknas huilej njs vinjras ea asti pruaki sa alhualtril altra 6,3 - 9. X`l abkirmj, pasa i qua an `le`hiejr t`ala ul vinjr harhilj, lj hubpna njs astéleiras astiknah`ejs, pjr nj qua puaea nnamir i ointir i njs pimjs.
Hip`tin ea Urikidj Latj O`muri 8;. Avjnuh`øl ean hip`tin ea trikidj latj
Hip`tin ea trikidj latj (b`nas QXE) 6 9 -;66
;
-93=,013
-566 -?66 -366
-?=8,533
8 -8;,?6?
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Hjl raspahtj in hip`tin ea trikidj, sa puaea jksarvir qua njs vinjras ea njs 8 ônt`bjs iùjs cil s`ej lamit`vjs, s`alej an bés vinjr bés intj an prasaltiej al an ;69= hjl ul tjtin ea -8;,?6. Nj qua eabuastri qua ni alt`eie lj t`ala hipih`eie ea pimj y pjr tiltj lj puaea hukr`r sus eaueis i hjrtj pnizj. Ual`alej al hualti qua njs iht`vjs hjrr`altas lj rapjrtil njs sinejs suo`h`altas piri qua su rahuparih`øl hukri njs pis`vjs hjrr`altas.
Âle`has ea iht`v`eie Njs âle`has ea iht`v`eie ea Iksjrpansi sjl4 rjtih`øl ea iht`vjs, rjtih`øl ea hualtis pjr
hjkrir, rjtih`øl ea `lvaltir`j, y rjtih`øl ea hualtis pjr pimir hiei ulj hjl su raspaht`vj par`jej. P buastril ni rjtih`øl qua prasalti nis hualtis ea biyjr trils`h`øl a `bpjrtilh`i al ni abprasi, yi qua ikirhil nis iht`v`eieas ranih`jlieis hjl an m`rj ean lamjh`j.
80
Uikni 90. Âle`has ea iht`v`eie
Iht`v`eie [jtih`øl ea iht`vjs
;691 6,0;
;69? 6,=3
;69= 6,0;
[jtih`øl ea hualtis pjr hjkrir hn`altas
96,91
?,=3
1,90
Var`jej Vrjbae`j ea hjkrj i hn`altas (eâis)
81,5?
18,60
?0,88
=,=8
=,5=
=,;1
5?,10
53,;9
50,?5
5,00
1,?1
5,80
=;,99
?8,=9
39,08
[jtih`øl ea `lvaltir`j Aeie prjbae`j ean `lvaltir`j (eâis) [jtih`øl ea hualtis pjr pimir Var`jej Vrjbae`j ea pimj (eâis) Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
[jtih`øl ea iht`vjs O`muri 88. Avjnuh`øl ea rjtih`øl ea iht`vjs
[jtih`øl ea iht`vjs 8
;
9 6,=
6,=1
6,3
6,31
6,0
6,01
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Ni rjtih`øl ea iht`vjs raonadi ni ao`hih`i ea ni abprasi al ni mast`øl ea sus iht`vjs piri malarir valtis. Asta vinjr sa ci biltal`ej bés j baljs hjlstilta ax`st`alej uli ôl`hi vir`ih`øl al an iùj ;69?, al ejlea ni rjtih`øl ea iht`vjs e`sb`luyø7 s`l abkirmj, sa bilt`ala al 6,0; piri an iùj ;69=.
[jtih`øl ea hualtis y par`jej prjbae`j 56
O`muri 85. Avjnuh`øl ea rjtih`øl ea hualtis pjr pimir y hualtis pjr hjkrir
8
5,80 1,90 1,?1
;
?,=3
5,00
9 6
;
5
96,91 ?
[jti [jtih` h`øl øl eeaa hhua ualt ltis is pjr pjr pim pimir ir
3
96
9;
[jti [jtih` h`øl øl ea ea hhua ualt ltis is pjr pjr hjk hjkri rirr hn hn`a `alt ltas as
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
O`muri 81. Avjnuh`øl ea par`jej prjbae`j ea hjkrj y par`jej prjbae`j ea pimj
8
;
9
6
96
;6
86
Var`je Var `jej j Vrjbae Vrjbae`j `j ea ea pimj pimj (eâis (eâis))
56
16
?6
=6
36
Var`je Var `jej j Vrjbae Vrjbae`j `j ea ea hjkrj hjkrj i hn`al hn`altas tas (eâ (eâis) is)
06
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Ni rjtih`øl ea hualtis pjr hjkrir b`ea ni hilt`eie ea vahas qua sa hjkril ni hirtari i hn`altas eurilta ul iùj, Iksjrpansi t`ala uli rjtih`øl prjbae`j eurilta njs iùjs ;691, ;69? y ;69= ea =,8= vahas in iùj, al ul par`jej prjbae`j ea hjkrj ea 18 eeâis7 âis7 s`l abkirmj, s` ilin`zibjs ni avjnuh`øl ea asta `le`hiejr eurilta njs iùjs balh`jliejs pjeabjs eastihir qua ni rjtih`øl ea hualtis pjr hjkrir ci e`sb`lu`ej, s`alej ea 96,91 vahas al an iùj ;691 i 1,90 vahas in iùj ;69=. 59
Astj eak`ej i qua an par`jej prjbae`j ea hjkrj sa ci axtale`ej ea 81, 5? eâis in ;691 cisti ?0,88 eâis in o`lin`zir an iùj ;69=. Nj qua puaea `le`hir qua ax`sta uli bini mast`øl ean eapirtibaltj hjbarh`in yi qua njs pnizjs ea pimj sa cil inirmiej y sa jtjrmi buhcj bés hràe`tj i njs hn`altas. Uin vaz hjbj astritam`i ea valtis, parj qua puaea raparhut`r i ni sinue o`lilh`ari ea ni abprasi. Ni rjtih`øl ea hualtis pjr pimir b`ea ni hilt`eie ea vahas qua sa pimi i njs prjvaaejras al ul iùj. Eurilta njs iùjs ;691, ;69? y ;69= Iksjrpansi prasalti uli rjtih`øl ea 1 vahas hiei =8 eâis. Varj in ilin`zir ni avjnuh`øl ea asta `le`hiejr pjeabjs jksarvir qua lj ax`sta uli talealh`i ea hibk`j raspahtj in par`jej prjbae`j ea pimj, s`alej `l`h`inbalta ea 5,00 vahas hiei =; eâis al ;691 i 5,80 vahas hiei 3; eâis in ;69=. Ni vir`ih`øl vi r`ih`øl bés inti sa prasalti al an iùj ;69? ejlea ni abprasi prasalti ul vinjr biyjr hjl ul âle`ha ea 1,?1 vahas hiei ?8,=9 eâis. Asta `le`hiejr buastri qua nis abprasis bilt`alal ul kual l`van ea rjtih`øl ea pimj i prjvaaejras, qua vi al iubaltj, nj qua buastri qua ax`sta uli kuali mast`øl ea lamjh`js, y uli kuali ranih`øl hjl njs prjvaaejras qua parb`ta inirmir an t`abpj al an qua sa pimi, parb`t`alej hjkrir nis eaueis i t`abpj piri sjnvaltir nis lahas`eieas ea pimj i njs prjvaaejras. X`l abkirmj, s` lj badjri i ul l`van `muin j supar`jr hjbj ni vir`ih`øl qua prasalti an par`jej prjbae`j ea hjkrj al inmôl bjbaltj prasaltiré prjknabis ea pimj, y pjr tiltj prjknabis ea n`qu`eaz nj qua pjerâi hiusir prjknabis o`lilh`arjs i outurj.
[jtih`øl ea `lvaltir`js y aeie prjbae`j ea `lvaltir`j An ilén`s`s ea ni rjtih`øl ean `lvaltir`j y ni aeie prjbae`j ean b`sbj parb`ta `ealt`o`hir
huiltis vahas asta sa ci vale`ej, y pjr tiltj sa lahas`ti raljvir an b`sbj. Hjl nj huin eatarb`libjs ni ao`h`alh`i ean usj ean hip`tin ea trikidj ea ni abprasi. An prjbae`j ea rjtih`øl ea Iksjrpansi eurilta njs iùjs ;691 ,;69? y ;69= ci s`ej ea = vahas, hiei 53 eâis. I nj nirmj ea astjs iùjs ni avjnuh`øl ea sus `le`hiejras ci eabjstriej qua an lôbarj ea vahas qua ci rjtiej an `lvaltir`j ci `ej eahrah`alej, s`l abkirmj, asta eahrah`b`altj lj ci s`ej s`ml`o`hit`vj. An iùj ;69= buastri an l`van bés kidj ea rjtih`øl ea `lvaltir`j al njs ônt`bjs 8 iùjs, s`alej asta ea =,;1 vahas pjr iùj hjl uli aeie ea `lvaltir`j ea 50,?5 eâis.
5;
O`muri 8?. Avjnuh`øl ea rjtih`øl ea hualtis pjr pimir y hualtis pjr hjkrir
[jtih`jl ea `lvaltir`j =,=8
=,3 =,= =,? =,1 =,5 =,8 =,; =,9 =
=,5= =,;1
;691
;69?
;69=
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Âle`ha ea aleaueib`altj
Ealtrj ea njs âle`has ea aleaueib`altj alhjltribjs4 rizøl ea eauei, ipinilhib`altj, hjlhaltrih`øl ea eauei.
Uikni ;6 Âle`has ea aleaueib`altj
Aleaueib`altj [izøl ea eauei Ipinilhib`altj Hjlhaltrih`øl ea eauei Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
[izøl ea eauei
;691 89,0?% 6,5?0= 35,85%
;69? 18,9;% 9,988; 33,08%
;69= 16,99% 9,6655 3;,16%
58
O`muri 8=. Avjnuh`øl ea ni rizøl ea eauei
[izøl ea eauei ?6,66% 16,66% 56,66%
18,9;%
16,99%
;69?
;69=
89,0?%
86,66% ;6,66% 96,66% 6,66% ;691 Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
An aleaueib`altj ea ni alt`eie v`ala eiej pjr ni ranih`øl pjrhaltuin altra pis`vj y iht`vj. An ilén`s`s ea njs iùjs ;691, ;69? y ;69= buastril qua an pjrhaltida prjbae`j qua njs pis`vjs raprasaltil al ni hjbpjs`h`øl ea ni hjbpiùâi as an 51,6?%. Al an iùj ;69= ;69 = an pjrhaltida ea pis`vjs oua ea 16,99%, ul 8,69% `loar`jr in iùj ;69?, s`l abkirmj, ul 93,91% bés intj qua an iùj ;691, nj qua buastri qua al an iùj ;69? sa hjltridj uli jkn`mih`øl qua ihtuinbalta sa alhualtri pimilej. X`l abk abkirmj, irmj, pas pasaa i qua ni riz rizøl øl ea aleaueib`altj as inti iôl sa s a alhualtri alhualtr i ealtrj ea njs astéleiras `eainas qua rahjb`aleil qua an aleaueib`altj talmi uli tisi béx`bi ean =1%.
Ipinilhib`altj O`muri 83 Avjnuh`øl ea ipinilhib`altj
Ipinilhib`altj 9,; 9 6,3 6,? 6,5 6,; 6
9,988;
9,6655
6,5?0=
9
;
8
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
55
An âle`ha ea ipinilhib`altj buastri ni oiht`k`n`eie ean usj ea ni eauei piri `lhrabaltir ni raltik`n`eie ean hip`tin prjp`j. An prjbae`j ean ipinilhib`altj al njs iùjs ;691, ;69? y ;69= ci s`ej ea 6,3? haltivjs. X`l abkirmj, ni avjnuh`øl ea asti rit`j buastri qua an vinjr bés kidj oua al ;691, ejlea an ipinilhib`altj oua ea til sjnj 6,5? $. B`altris qua njs iùjs ;69? y ;69= buastril vinjras supar`jras i 9, nj qua eabuastri eabuas tri qua ari oiht`kna iequ`r`r o`lilh`ib`altj axtarlj. An ipinilhib`altj ean iùj ;69= buastri qua 9 eønir ea b` pitr`bjl`j hukrâi 9 eønir ea b` pis`vj j ea b`s jkn`mih`jlas, as eah`r qua nis eaueis puaeal sar huk`artis hjl hip`tin prjp`j y pjr tiltj qua ni jkn`mih`øl hjltriâei asté s`alej k`al ut`n`ziei y asté malariej biyjr raltik`n`eie i njs ihh`jl`stis.
Hjlhaltrih`øl ea eauei O`muri 80. Avjnuh`øl ea hjlhaltrih`øl ea ni eauei
Hjlhaltrih`øl ea eauei 33,08%
06,66% 33,66% 3?,66%
35,85%
35,66% 3;,66%
3;,16%
36,66% =3,66% 9
;
8
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Hjl raspahtj i ni hjlhaltrih`øl ea ni eauei hjl raspahtj i njs pis`vjs hjrr`altas sjkra njs pis`vjs tjtinas. Ni hjlhaltrih`øl prjbae`j ea nnjs js iùjs ;691, ;69? y ;69= ci s`ej al prjbae`j ean 31,;?%. An huin ci tal`ej su vinjr bés intj al an ;69? hjl uli hjlhaltrih`øl ea ni eauei hjrr`alta ean 33,08%, qua ci e`sb`lu`ej al ul ?,58% piri an iùj ;69= s`alej ihtuinbalta ean 3;,1% ea njs pis`vjs hjrr`altas qua hjbpjlal an pis`vj tjtin. Bjstrilej qua ni alt`eie sa o`lilh`i i hjrtj pnizj, yi qua ni ôl`hi hualti qua hjbpjla an pis`vj lj hjrr`alta hjrraspjlea i ni rrasarvi asarvi piri duk`nih`øl pitrjlin a `bpuastjs e`oar`ejs qua hjl 9?80?55$ raprasalti an 93,1% ea ni hjlhaltrih`øl ea ni eauei hjrr`alta ea nirmj pnizj.
Âle`has ea [altik`n`eie 51
Uikni ;9. Avjnuh`øl ea njs âle`has ea raltik`n`eie
[altik`n`eie Birmal ea ut`n`eie kruti Birmal ea ut`n`eie lati [ale`b`altj sjkra iht`vjs ([JI) [ale`b`altj sjkra pitr`bjl`j ([JA)
;691 ;;,6?% 1,16% 1,6=%
;69? 95,38% -9,=6% -9,88%
;69= ;6,01% 8,18% 8,;?%
=,55%
-;,38%
?,15%
4
Anikjriej Anikj riej pjr Njs iutjras pjr Oualta 4 (Iksjrpansi X.I., ;693)
Njs ilén`s`s ea raltik`n`eie sa cihal raspahtj i nis mililh`is, an birmal ea ut`n`eie kruti sa hinhuni ut`n`zilej ni ut`n`eie kruti sjkra njs `lmrasjs tjtinas y raprasalti huén as an pjrhaltida ea mililh`i easpuàs ea eaeuh`r nj hjstjs ea prjeuhh`øl. Iksjrpansi t`ala ul birmal ea ut`n`eie kruti prjbae`j ea 90,;3%, al an iùj ;69= ;6,01% ea njs `lmrasjs latjs hjrraspjleal i nis ut`n`eieas krutis. B`altris qua an birmal ea ut`n`eie lati nuamj ea eaeuh`r `bpuastjs y jtrjs mistjs as ean ;,55%. An iùj ;69= oua ea 1,;8% bés qua an iùj ;69?, hjl ul birmal ea ut`n`eie lati ean 8,18%. An rale`b`altj sjkra iht`vjs sa ut`n`zi piri bae`r ni ao`h`alh`i ea njs iht`vjs tjtinas al ranih`øl hjl an kalao`h`j njmriej al ul eatarb`liej par`jej ea t`abpj, Iksjrpansi buastri ul [JI prjbae`j ea ;,88%, s`alej an [JI ean iùj ;69= ean 8,;?%. As eah`r qua an pjr hiei eønir ean iht`vj ax`sta ul rale`b`altj ean ;,88%. B`altris qua an [JA j rale`b`altj sjkra pitr`bjl`j sa ut`n`zi piri bae`r ni ao`hih`i ean pitr`bjl`j j rahursjs latibalta prjp`js sjkra an rale`b`altj ea ni alt`eie. An [JA prjbae`j ea 8,=;%, b`altris qua sjnj piri an iùj ;69= oua ea ?,15% sjkra an pitr`bjl`j tjtin, as eah`r qua ax`sta ul badjr rale`b`altj sjkra njs rahursjs prjp`js as eah`r qua ni abprasi iequ`r`ø uli eauei qua parb`ta ipinilhirsa ea badjr bilari y qua malari biyjr raltik`n`eie piri njs ihh`jl`stis.
5?
K 3. Ojrtinazis y eak`n`eieas o`lilh`aris O`muri 56. Ilén`s`s ea ojrtinazis y eak`n`eieas
OJUINATIX Njs `le`hiejras ea iht`v`eie buastril qua ni abprasi t`ala uli kuali
EAK@N@EIEAX Njs `le`hiejras ea n`qu`eaz buastril qua ni abprasi lj t`ala hipih`eie
raltik`n`eie sus iht`vjs, an par`jej prjbae`j eaea hjkrj as baljr baljryiinqua par`jej prjbae`j ea pimj. B`altris qua ni rjtih`øl ea `lvaltir`j sa ci biltal`ej hjlstilta. B`altris qua njs iht`vjs cil bjstriej ul inti raltik`n`eie. An l`van ea ipinilhib`altj as kualj y eabuastri qua ni abprasi puaea hukr`r sus pis`vjs hjl sus rahursjs prjp`js. Vrasalti ul [JA pjs`t`vj parj kidj qua qu a lj sa bilt`ala al hrah`b`altj, an [JA as bés intj qua an [JI as eah`r qua qu a t`alal uli badjr mast`øl ea rahursjs prjp`js.
ea pimj i hjrtj pnizj. An âle`ha n`qu`eaz prjbae`j as baljr i ulj, y njs ea `le`has ea n`qu`eaz `lbae`iti prjbae`j as ea 6,19?=. Yua eabuastri qua su n`qu`eaz `lbae`iti asti pjr buy eakidj ea njs l`vanas l`vanas ihaptiknas qua aril iprjx`bieibalta iprjx`bieibalta ea 6,3.An hip`tin ea trikidj latj as lamit`vj nj qua eabustri qua t`ala ul intj l`van ea r`asmj ea hràe`tj. An aleaueib`altj buastri uli hjlhaltrih`øl al an iht`vj hjrr`alta ean 3;,61%. An [JI prasalti vinjras bés kidjs qua an [JA as eah`r qua lj t`alal uli kuali raltik`n`eie sjkra njs iht`vjs
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
K 0. Oihtjras ea r`asmj isjh`iejs hjl ni abprasi y hjl an lamjh`j Inmuljs ea njs oihtjras qua raprasaltil r`asmj piri ni hjbpiùâi Iksjrpansi Vipanas Iksjrkaltas X.I. sjl njs s`mu`altas4
[`asmj ea hràe`tj hjbarh`in. - Eak`ej in m`rj ean lamjh`j, an hràe`tj qua sa biladi hjl hn`altas raprasalti ul r`asmj al an bjbaltj qua inmulj ea annjs lj talmi ni hipih`eie ea hubpn`r hjl sus jkn`mih`jlas, as pjr astj qua ni hjbpiùâi Iksjrpansi ci jptiej pjr trisoar`r an r`asmj i trivàs ea uli hjkarturi ean 966% ea sus valtis i trivàs ea uli pøn`zi ea samurjs hrae`t`h`i hjl Xamurjs Hjlo`ilzi X.I.
[`asmjs ea iht`vjs o`djs. - Ax`sta ni pjs`k`n`eie ea hitéstrjoas ibk`altinas, eak`ej i qua an Ahuiejr as hjls`eariej hjbj uli zjli ea hjlstilta iht`v`eie tanôr`hi, as pjr astj qua ni tjtin`eie ea ni `loriastruhturi ea ni abprasi sa alhualtri huk`arti pjr pøn`zis ea samurjs.
[`asmj ea easikistah`b`altj. - Xa t`ala an r`asmj ea ointi ea prjv`s`øl ea bitar`i pr`bi, altale`àlejsa àsti hjbj pipan rah`hnida, `lsubj s`l an huin hu in an prjhasj prjeuht`vj lj pjerâi 5=
rain`zirsa. Asta r`asmj sa b`t`mi i trivàs ea ni kuali ranih`øl hjl sus prjvaaejras XQ[MINI[A X.I. y AHJ@LMIXI AHJ@LMAL@A[@I IBK@ALUIN X.I., njs b`sbjs qua pjsaal uli hipih`eie `lstiniei ea prjeuhh`øl ea 9666 y =66 tjlanieis balsuinas raspaht`vibalta, ea nis huinas Iksjrpansi sjnj lahas`ti 866 tjlanieis balsuinas.
[`asmjs ean lamjh`j. -Vjerâi eirsa ul ashalir`j al qua sa an`b`lal njs irilhanas i nis `bpjrtih`jlas y njs prah`js `ltarlih`jlinas ean pipan t`ssua sa raeuzhil erést`hibalta,
oivjrah`alej i njs `bpjrtiejras, s`tuih`øl qua as buy `bprjkikna qua suhaei, puas ni e`oaralh`i al hjstj raspahtj in prjeuhtj oikr`hiej njhinbalta as mrilea. [`asmjs ranih`jliejs i ni talealh`i ea ni `leustr`i. - Lj ax`sta ul r`asmj intj ea asta t`pj eak`ej i qua as ul barhiej hrah`alta isjh`iej hjl an l`van pjknih`jlin.
K 96. Vjlearih`øl ean r`asmj ean lamjh`j Uikni ;; . Bitr`z Ea Vjlearih`øl Ea [`asmjs
L¶
OIHUJ[
9.;.8.5.1.-
[`asmj ea hràe`tj hjbarh`in [`asmjs ea iht`vjs o`djs [`asmj ea easikistah`b`altj [`asmjs ean lamjh`j [`asmjs ranih`jliejs i ni talealh`i ea ni `leustr`i
VQLUIDA (9-5) ; 9 ; 9 9 =
VJLEA[IH@ L 6,;0 6,95 6,;0 6,95 6,95 9
VQLUIDA VJLEA[IEJ 6,1= 6,95 6,1= 6,95 6,95 9,1=
Ljti. Njs eitjs qua sa raprasaltiejs raonadil njs t`pjs ea r`asmjs i njs qua nis abprasi Iksjrpansi X.I., sa alhualtri
axpuastj eak`ej i ni iht`v`eie qua rain`zi y nis ojrbis ea høbj nnavi su iht`v`eie ahjløb`hi. Ni pjlearih`øl sa alhualtri hjls`eariei ea tin bilari qua an 52Béx`bj, 52Béx`bj, an 82Bjeariej intj, an ;2Bjeariej kidj y an 92Kidj.
@ltarpratih`øl An pultida pjleariej tjtin ea njs r`asmjs isjh`iejs hjl ni abprasi as ean 9.1=%, s`alej asta ul r`asmj bjeariej intj. Iksjrpansi X.I. eak`ej in m`rj ean lamjh`j an r`asmj ea hràe`tj, as ul r`asmj qua sa alhualtri prasalta al biyjr biml`tue, yi qua an b`sbj asté ranih`jliej hjl njs hn`altas y asta sa ei al an bjbaltj al an qua inmulj inmu lj ea annjs lj talmi ni hipih`eie ea hubpn`r hjl sus jkn`mih`jlas, as pjr astj qua ni hjbpiùâi ci jptiej pjr trisoar`r an r`asmj i trivàs ea uli 53
hjkarturi ean 966% ea sus valtis i trivàs ea uli pøn`zi ea samurjs hrae`t`h`i hjl Xamurjs Hjlo`ilzi X.I. Uibk`àl prasalti an r`asmj ea ointi ea prjv`s`øl ea bitar`i pr`bi, ni pjs`k`n`eie ea hitéstrjoas ibk`altinas, altra jtris piri b`t`mir njs r`asmjs Iksjrpansi X.I., trilso`ara sus r`asmjs i trivàs ea ni hjltritih`øl ea samurjs y in`ilzis hjl sus prjvaaejras, yi qua ea asti bilari puaea astir n`stj piri huinqu`ar avaltj qua puaei ioahtir sus iht`v`eieas ahjløb`his.
;. Vrjyahh`øl ea njs onudjs outurjs I. Vrav`s`øl astritam`hi y hjbpat`t`vi
I 9. B`s`øl y v`s`øl
B`s`øl Easirrjnnir, oikr`hir y prjvaar pipanas iksjrkaltas ea axhanalta hin`eie, piri sit`soihar nis lahas`eieas ea luastrjs hn`altas.
_`s`øl Nnamir i sar uli abprasi prjeuhtjri y hjbarh`in`ziejri ea pipan ea hnisa bule`in, nâear al an piâs y al an barhiej ea pipanas U`ssua, rahjljh`eis pjr su hin`eie tiltj al an prjeuhtj hjbj al an sarv`h`j, qua malara malar a abpnaj a `lmrasjs piri sus ihh`jl`stis.
I ;. Astritam`i Hjbpat`t`vi Malàr`hi Astritam`is
malàr`his ea B`hcian Vjrtar4
Nis astritam`is malàr`his ea B`hcian Vjrtar sjl ul hjldultj ea astritam`is hjbpat`t`vis (astritam`is qua kushil an easirrjnnj malarin ea uli abprasi). Astis astritam`is kushil aspah`inbalta jktalar uli valtidi hjbpat`t`vi piri ni abprasi, yi sai i trivàs ea ul n`earizmj al hjstjs, uli e`oaralh`ih`øl j uli aspah`in`zih`øl. 9. N`earizmj al hjstjs
50
Ni astritam`i ea n`earizmj al hjstjs hjls`sta al ni valti ea prjeuhtjs in prah`j ul`tir`j bés kidj e`spjl`kna al an barhiej i trivàs ea uli raeuhh`øl al njs hjstjs. Asti astritam`i pjerâi `bpn`hir jorahar prjeuhtjs jtjrmilej ni badjr ranih`øl vinjr prah`j (jorahar prjeuhtjs ea ``muin muin j badjr hin`eie qua njs ea ni hjbpatalh`i, hjbpa talh`i, parj i ul baljr prah`j), j s`bpnabalta jorahar prjeuhtjs in baljr balj r prah`j e`spjl`kna. I trivàs ea ni ipn`hih`øl ea asti astritam`i sa kushi pr`lh`pinbalta jktalar uli biyjr pirt`h`pih`øl al an barhiej y, pjr tiltj, iubaltir nis valtis, pue`alej nnamir in pultj ea sihir s ihir ean barhiej i njs hjbpat`ejras qua lj puaeil ciharna oralta.
Uikni ;8. Astritam`is ea Iksjrpansi X.I Ojrbis ea raeuh`r hjstjs
Astritam`is rahjbaleieis Iksjrpansi X.I.
Iprjvahcir nis ahjljbâis ea ashini. Anikjrir prjeuhtjs ea bilari astileir`ziei. Vrjeuh`r al mrileas vjnôbalas. Qsir sub`l`strjs ao`h`altas ea bitar`i pr`bi. X`bpn`o`hir an e`saùj ean prjeuhtj.
Virt`h`pir al ul barhiej hjbpuastj pjr hjlsub`ejras qua sjl sals`knas i njs prah`js. Eatarb`lir s` ciy pjs`k`n`eieas ea njmrir uli e`oaralh`ih`øl al an prjeuhtj. Eatarb`lir s` an barhiej bati sa
Iprjvahcir nis luavis tahljnjmâis. [ain`zir hjltrjnas r`murjsjs al hjstjs y mistjs `le`rahtjs. Hrair uli hunturi ea raeuhh`øl ea hjstjs al njs trikidiejras. [aeuh`r hjstjs al oulh`jlas ea valtis, birgat`lm y pukn`h`eie.
`ltarasi buhcj al nis e`oaralh`is altra uli y jtri birhi. Easirrjnnirsa al ul barhiej ejlea njs hjlsub`ejras prasaltal mril hipih`eie ea lamjh`ih`øl.
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Nis easvaltidis ea ut`n`zir asti astritam`i sjl an r`asmj ea qua nnamua i sar `b`tiei pjr ni hjbpatalh`i y qua, pjr tiltj, e`sb`luyil nis mililh`is al an barhiej, y qua an `ltaràs ea njs hjlsub`ejras hibk`a cih`i jtris hirihtarâst`his ean prjeuhtj e`st`ltis in prah`j as pjr tin bjt`vj qua ni jrmil`zih`øl eaka hjls`earir tiltj nis valtidis hjbj ibalizis ean bàtjej. 16
;. E`oaralh`ih`øl Ni astritam`i ea e`oaralh`ih`øl hjls`sta al prjeuh`r j valear prjeuhtjs hjls`eariejs ôl`hjs al an barhiej y qua jorazhil inmj qua nas parb`ti e`oaralh`irsa j e`st`lmu`rsa ea njs ea ni hjbpatalh`i, asti astritam`i kushi pr`lh`pinbalta ni praoaralh`i ea njs hjlsub`ejras, pue`alej nnamir in pultj ea iubaltir njs prah`js al hisj ea qua àstjs rahjljzhil nis hirihtarâst`his e`oaralh`iejris ean prjeuhtj.
Uikni ;5. Astritam`is ea E`oaralh`ih`øl
Ispahtjs al njs qua puaea cikar uli e`oaralh`ih`øl Al an e`saùj ean prjeuhtj.
Astritam`is rahjbaleieis piri Iksjrpansi X.I. Astue`ir an barhiej ea njs hjlsub`ejras y
Al sus itr`kutjs j hirihtarâst`his.
ipn`hir huilej astjs sail pjhj sals`knas i njs
Al su easabpaùj j rale`b`altj.
prah`js.
Al ni hin`eie.
Al ni birhi.
Al kr`leir ul kual sarv`h`j j
Eatarb`lir s` nis lahas`eieas y praoaralh`is ea njs hjlsub`ejras sjl e`varsis.
Huilej
njs
prjeuhtjs
ax`staltas
sa
e`oaralh`il pjhj altra sâ.
italh`øl in hn`alta.
Al ni italh`øl parsjlin`ziei. Al ni rip`eaz al ni altrami. Al jorahar sarv`h`js ie`h`jlinas.
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Ni astritam`i ea e`oaralh`ih`øl as ao`hiz tiltj al barhiejs ibpn`js hjbj al barhiejs raeuh`ejs, parj sjnj huilej ni hirihtarâst`hi j nis hirihtarâst`his e`oaralh`iejris ean prjeuhtj sjl e`oâh`nas ea `b`tir pjr ni hjbpatalh`i. 8. Aspah`in`zih`øl
Asti astritam`i hjls`sta al hjlhaltrirsa al ul sambaltj aspahâo`hj ean barhiej7 as eah`r, hjlhaltrir njs asouarzjs al prjeuh`r j valear prjeuhtjs qua sit`soimil nis lahas`eieas j 19
praoaralh`is ea ul eatarb`liej mrupj ea hjlsub`ejras ealtrj ean barhiej tjtin qua ax`sta piri njs prjeuhtjs.
Uikni ;1. Astritam`is ea Aspah`in`zih`øl
Qsjs ea ni astritam`i
Astritam`is rahjbaleieis i ut`n`zir piri Iksjrpansi X.I.
Al ul mrupj aspahâo`hj ea
Avinuir i njs hjlsub`ejras piri eatarb`lir su
hjlsub`ejras.
prasaltil
Al ul barhiej majmréo`hj al
aspahâo`his.
pirt`hunir.
Al uli nâlai ea prjeuhtjs.
lahas`eieas
j
praoaralh`is
Huilej nis abprasis hjbpat`ejris lj t`alal al ni b`ri an b`sbj sambaltj ea barhiej.
Huilej lj sa hualti hjl suo`h`altas rahursjs hjbj piri ipn`hir nis astritam`is ea n`earizmj al hjstjs j ea e`oaralh`ih`øl.
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta4 (Iksjrpansi X.I., ;693)
Ni astritam`i ea aspah`in`zih`øl as ao`hiz sjnj al barhiejs raeuh`ejs, yi qua al barhiejs ibpn`js nis ahjljbâis ea ashini oivjraharâil i nis abprasis qua ut`n`zisal uli astritam`i ea n`earizmj al hjstjs, y huilej an sambaltj ea barhiej anam`ej as nj suo`h`altabalta mrilea hjbj piri sar raltikna y t`ala kual pjtalh`in ea hrah`b`altj. hra h`b`altj.
As buy `bpjrtilta qua Iksjrpansi X.I. hjls`eara y avinôa an barhiej al an qua asté pirt`h`pilej piri ipn`hir nis astritam`is sumar`eis, sumar `eis, hjl an o`l ea qua ni b`sbi inhilha uli valtidi hjbpat`t`vi i l`van lih`jlin a `ltarlih`jlin.
I 8. Jkdat`vjs ea ni abprasi
Xit`soihar ea ojrbi ao`h`alta nis lahas`eieas ea njs hn`altas.
Easirrjnnir, oikr`hir y prjvaar k`alas ea axhanalta hin`eie.
Hjlvart`rsa al uli abprasi prjeuhtjri y hjbarh`in`ziejri ea pipan ea hnisa
bule`in.
Malarir `lmrasjs piri njs ihh`jl`stis 1;
Malarir abpnaj y k`alastir sjh`in.
I 5. Astritam`i abprasir`in Easea njs l`vanas intjs ea e`rahh`øl sa ouleibaltil astritam`is al kisa i uli parspaht`vi ea sjstal`k`n`eie, as pjr annj qua Iksjrpansi pipanas iksjrvaltas X.I, balh`jli4 (…) hjjre`li tjejs njs rahursjs i trivàs ean prjhasj ea pnilaib`altj, jrmil`zih`øl
e`rahh`øl y hjltrjn i o`l ea njmrir jkdat`vjs astiknah`ejs al ni pnil`o`hih`øl astritàm`hi, Mirilt`zilej an astr`htj hubpn`b`altj ea nis nayas ean piâs y nis `ltarlis ea ni abprasi, raspatilej in Bae`j Ibk`alta, an Xar Cubilj, y su raspjlsik`n`eie sjh`in. Ieb`l`stri an hip`tin ea trikidj ealtrj ea ul aqu`n`kr`j ea njs hr`tar`js ea r`asmj y raltik`n`eie7 ieabés ea jr`altir ni astritam`i o`lilh`ari piri mirilt`zir ni e`spjl`k`n`eie ea oualtas ea o`lilh`ih`øl y prjpjrh`jlir an eak`ej ram`strj ea nis jparih`jlas hjbj carrib`altis ea hjltrjn ea ni mast`øl ea ni Abprasi.
I 1. Vr`lh`p`js y vinjras Njs vinjras sa hjls`earil p`niras al uli jrmil`zih`øl yi parb`tal mu`ir nis iht`v`eieas rain`zieis pjr tjejs njs b`abkrjs ea ni jrmil`zih`øl jr mil`zih`øl y as pjr annj qua sa aln`sti inmuljs vinjras qua praejb`lil i nis abprasis.
[aspatj pjr nis parsjlis.
Xa raspati i tjeis nis parsjlis hjl nis huinas sa `ltarihtôi hjbj sudatjs ea e`ml`eie. Al tjeis nis jparih`jlas qua rain`ha ni abprasi sa eakaré vinjrir an kual tritj, ni kuali oa y ni naintie, is`b`sbj, sa hu`ei ni `ltamr`eie y ni sinue ea hiei b`abkrj ea ni jrmil`zih`øl.
Hu`eiej ibk`altin
Xa pjla biyjr àlois`s al an hu`eiej ean bae`jibk`alta y i njs rahursjs liturinas hjl an ioél ea lj raparhut`r al nis outuris malarih`jlas
Hubpn`b`altj ea ljrbis naminas
Ni abprasi raspati nis ramunih`jlas qua r`mal i luastri iht`v`eie ahjløb`hi, ean b`sbj bjej tjejs njs e`raht`vjs astél hjbprjbat`ejs i hubpn`r hjl nis e`spjs`h`jlas naminas qua itiùal y sa `lvjnuhril al an easirrjnnj ean lamjh`j. 18
Hjbpatalh`in nain
Ni abprasi hjls`eari qua ni hjbpatalh`i nain parb`ta badjrir i ni jrmil`zih`øl hjl an jkdat`vj qua kr`leir uli badjr italh`øl i njs hjlsub`ejras y i su vaz sus b`abkrjs kushil an easirrjnnj prjoas`jlin hjl an abpnaj ea kualis préht`his qua `bpunsal su hrah`b`altj. I ?. Vrav`s`øl ea ni avjnuh`øl ea ni ahjljbâi Xamôl an Ojlej Bjlatir`j @ltarlih`jlin
Ahuiejr iôl sa asté ihjbjeilej i njs hcjquas axtarljs ax tarljs qua cil axpuastj njs easaqu`n`kr`js astruhturinas sukyihaltas al ni ahjljbâi ean piâs. Al asta hjltaxtj, sa ivah`lil `bpjrtiltas easioâjs, hjbj ikjreir ul intj eào`h`t o`shin y an iubaltj ea ni eauei pôkn`hi, ul t`pj ea hibk`j aoaht`vj rain sjkravinuiej y vunlarik`n`eieas al ni kinilzi ea pimjs ean piâs. Easpuàs ea h`lhj tr`bastras hjlsahut`vjs ea hjltrihh`øl, an hrah`b`altj ea Ahuiejr sa railueø i o`linas ea ;69? y rakjtø ouartabalta i 8 pjr h`altj al ;69=. X`l abkirmj, ni ahjljbâi piraha astir alor`élejsa, hjbj nj eabuastri ni hjltrihh`øl ean 6,= pjr h`altj al an pr`bar tr`bastra ea ;693 hjl ranih`øl in tr`bastra iltar`jr. (OB@, ;693)
Uikni ;?. Vrjyahh`jlas
V@K rain
Vrah`js hjlsub`ejr
Vrjyahh`jlas ;693 9,9
in
Xinej al hualti hjrr`alta
Easabpnaj
Vrjyahh`jlas
Vrjyahh`jlas
Vrjyahh`jlas
;690
;693
;690
;693
;690
;693
;690
6,=
-6,;
6,1
-6,1
6,=
5,3
1,;
Anikjriej Anikj riej pjr pjr 4 Njs iutjras
Oualta (OB@, ;693)
Xamôl nis prjyahh`jlas ea ni ean OB@ al su `lojrba Varspaht`vis ea ni Ahjljbâi Bule`in, sa aspari qua an V@K ean ahuiejr sa hjltri`mi ea ul 9,9 i ul 6,= al an ;690, isâ hjbj an easabpnaj iubalta ea ul 5,3 i ul 1,;% y an @VH sa `lhrabalta njs qua ciré qua ni `lonih`øl sa `lhrabalta.
B`altris tiltj al ul hjbul`hiej sa balh`jli4 balh`jli4
Viri ;693 sa aspari uli `lonih`øl kidi, iulqua pjs`t`vi, ea inraeaejr ean 9%. Njs eitjs e`spjl`knas piri asta iùj buastril uli vir`ih`øl ihubuniei altra alarj y ikr`n ean 6,;=%. Al 15
tàrb`ljs `ltariluinas, an @VH ea biyj ea ;693 as ul -9,69% baljr qua an ean b`sbj bas ean iùj iltar`jr. (HAVIN, ;693) Ea njs eitjs iltas axpuastjs sa hjls`eari qua, i pasir ea lj ax`st`r ul hrah`b`altj ljtikna al ni ahjljbâi ahuitjr`ili, nis pjnât`his `bpnabaltieis pjr an ihtuin mjk`arlj cil ojrtinah`ej ni ahjljbâi y ci ax`st`ej uli biyjr astik`n`eie.
I =. Vrav`s`øl ea ni avjnuh`øl ean sahtjr Viri an iùj ;6;0 an [@X@ (prjvaaejr ea `lojrbih`øl mnjkin sjkra barhiejs ea hanunjsi, pipan y abpiquas) ast`bi ul `lhrabaltj ean hjlsubj ea pipanas c`mal`hjs y tjnn`tis ea pipan al 966 b`n b`nnjlas ea eøniras, pjr nj qua sa pravaa uli tisi ea hrah`b`altj ean 5,0% iluin al tjej an bulej y ean =% al njs piâsas abarmaltas. (Vnuskursét`n, ;693, p. 0) An hrah`b`altj prav`stj al an barhiej ea Ibàr`hi Nit`li (s`l Kris`n) ean ;69? in ;6;5 as ea 8.366 i 5.??= Btjl. Al asti ram`øl sa eastihil h`lhj pr`lh`pinas barhiejs qua raprasaltil an ==% ean hjlsubj tjtin al an iùj ;691, astj eak`ej i ni prasalh`i ea Hjrpjrih`jlas Bule`inas qua q ua jparil al hiei piâs.
O`muri 59. Eabilei ean Vrjeuhtj al an barhiej mnjkin
Ljti4 Ni `bimal buastri an iubaltj ea eabilei pjr piâsas . Njs eitjs sjl jktal`ejs ean [@X@ Mnjkin U`ssua Jutnjjg (IX@BV[AX, ;69=)
An hrah`b`altj par hép`ti ea hjlsubj ea hanunjsi, pipan y abpiquas al ni ram`øl nit`ljibar`hili asté eiej pjr an `lhrabaltj ea prjeuhtjs e`st`ltjs in pipan ea kiùj, qua cil tjbiej ouarzi piri italear nis lahas`eieas ea njs hjlsub`ejras. Altra njs pr`lh`pinas prjeuhtjs astél (Vnuskursét`n, ;693, p. 96).
11
▤ Viùuanjs oih`inas ▤ Vipan tjinni ▤ Xarv`nnatis
▤ Vipan Xil`tir`j ▤ Jtrjs
Al an rilg`lm ea njs pr`lh`pinas prjeuhtjras an Ahuiejr jhupø ni pjs`h`øl lôbarj 13, nj huin eabuastri hjbj ni `leustr`i pipanari ci `ej pjs`h`jlélejsa hjbj uli ea nis pr`lh`pinas iht`v`eieas ealtrj ean barhiej Al kisa i njs iltahaealtas balh`jliejs sa puaea eatarb`lir qua ni prjeuhh`øl ea pipan c`m`àl`hj bilt`ala uli talealh`i hrah`alta,
I 3. Vrav`s`øl ea ni pirt`h`pih`øl ea barhiej ea ni abprasi Ihtuinbalta an sahtjr ean pipan as uli `leustr`i subibalta e`vars`o`hiei pjr ni hilt`eie ea prjeuhtjs qua sa oikr`hil yi sai piri an barhiej `ltarlj hjbj axtarlj. Ni eabilei ean pipan c`m`àl`hj al an piâs as ish`alea i 51 666 tjlanieis iluinas. Ea asti hilt`eie, an 51% sa prjeuha al Ahuiejr y an 11% rastilta sa `bpjrti (NÂEA[AX, ;691) Xamôl an Halsj Lih`jlin Ahjløb`hj ean ;696 (@LAH, ;696), al an piâs ax`stal 99 astiknah`b`altjs qua sa eae`hil i ni anikjrih`øl ea astjs prjeuhtjs. Al an barhiej ahuitjr`ilj ejb`lil nis birhis ea pipan c`m`àl`hj Xhjtt, ea ni bunt`lih`jlin G`bkarny Hnirg7 y Oib`n`i, ean mrupj hjnjbk`ilj ean b`sbj ljbkra. Ax`sta ul eào`h`t al huiltj i ni hipih`eie `lstiniei qua pjsaa ihtuinbalta an piâs piri italear ni mril eabilei ea prjeuhtjs t`ssua7 as pjr astj qua, i pasir ea ni ax`stalh`i ea mrileas hjbpat`ejras, Iksjrpansi sit`soiha ni eabilei ea ul `bpjrtilta pjrhaltida ean barhiej , sa pravà qua s`mi n`earilej al an barhiej lih`jlin al ni `leustr`i `leus tr`i ean pipan, qua ea ihuarej i njs prjløst`hjs hraharé in tàrb`lj ean ;6;1 ul prjbae`j ean 5.9% (Vnuskursét`n, ;693, pém. 99), i hiusi ean hrah`b`altj par hép`ti ea hjlsubj ea hanunjsi, pipan y abpiquas al ni ram`øl nit`ljibar`hili, y prøx`bi axpils`jlas cih`i Is`i, Hc`li a @lejlas`i 1?
K. Vrav`s`jlas O`lilh`aris K 9. Vrav`s`øl ea vir`js ashalir`js4 Ashalir`j talealh`in, ashalir`j jpt`b`sti y ashalir`j pas`b`sti Eao`l`h`øl ea ashalir`j4 Ql ashalir`j sa eao`la hjbj an hjldultj ea hjle`h`jlas j parspaht`vis qua sa aspari iprah`ir al ul outurj, pratalea astiknahar y hjltrjnir ranih`jlas ea `lhart`eubkra, i o`l ea prjpjlar idustas y pjs`knas bae`eis ea pravalh`øl y badjri, as eah`r prasalti ul piljribi malarin qua ba parb`ta tjbir eah`s`jlas al an prasalta. I hjlt`luih`øl, sa raprasaltil njs e`st`ltjs t`pjs ea ashalir`js pjs`knas piri Iksjrpansi X.I., al kisa i supuastjs hjls`earilej an ilén`s`s OJEI ea ni jrmil`zih`øl. Nis pr`lh`pinas vir`iknas qua sa hjls`eariril piri an ilén`s`s ea ashalir`js sjl4 valtis, hjstj ea valtis y mistjs jparit`vjs y ea valtis.
Ashalir`j talealh`in An ashalir`j talealh`in kushi eabjstrir nj qua suhaearâi s` nis hjsis s`mual oulh`jlilej ea ni b`sbi bilari j hjbj nj ci val`ej cih`alej cisti an bjbaltj. Asta ashalir`j hjls`sta al an ilén`s`s ean pisiej piri prjyahtir in outurj, hjls`earilej nis vir`ih`jlas, hibk`js qua cil val`ej prasaltilej astis vir`iknas, asta ilén`s`s as ni kisa piri prjyahtir asta ilén`s`s yi qua sa pirta ea supuastjs qua eatarb`lil qua pjs`knabalta nis hjsis hjlt`luiril hjbj nis cil val`ej cih`alej. Ieabés, asta ilén`s`s parb`ta raojrzir njs oihtjras ea ilén`s`s al hisj ea vir`ih`jlas lamit`vis cih`i an outurj. An hénhunj ean hjbpjrtib`altj ea nis vir`iknas sa rain`zø vin`àlejsa ean bàtjej ean `lhrabaltj pjrhaltuin, ni b`sbi qua sa kisi al eatarb`lir nis vir`ih`jlas ea njs e`st`ltjs par`jejs hjl raspahtj in iltar`jr.
Altjlhas i hjlt`luih`øl sa prasaltil nis vir`ih`jlas ea nis pr`lh`pinas vir`iknas4
1=
Uikni ;=. Bitr`z ea vir`ih`øl ea nis valtis _altis al QXE _ALUIX $;.=59.;59,66 $;.1=5.9?5,66 $8.??=.?0;,66 Vrjbae`j
IÙJ ;691 ;69? ;69=
Uisi ea vir`ih`øl -?,60% 5;,53% 93,90%
Anikjriej pjr 4 Nis iutjris Oualta4 (Iksjrpansi X.I., ;693)
Uikni ;3. Bitr`z ea vir`ih`øl ean hjstj ea valtis Hjstj ea _altis QXE Hjstj ea _altis Uisi ea vir`ih`øl $;.;69.;31,66 36,86% $;.;68.058,66 31,?;% $;.300.;38,66 =0,61% Vrjbae`j 39,??%
IÙJ ;691 ;69? ;69=
Anikjriej pjr 4 Nis iutjris Oualta4 (Iksjrpansi X.I., ;693)
Uikni ;0. Bitr`z ea vir`ih`øl ean mistj ea jparih`øl y ea valtis IÙJ ;691 ;69? ;69=
Mistjs jparih`jlinas y ea valtis QXE M_ Uisi ea vir`ih`øl $=1.=6;,66 ;,=?% $9;?.93;,66 5,06% $;;3.=?0,66 ?,;5% Vrjbae`j 5,?8%
Anikjriej pjr 4 Nis iutjris Oualta4 (Iksjrpansi X.I., ;693)
Easpuàs ea cikar rain`ziej an ilén`s`s ea nis vir`ih`jlas ea njs par`jejs pisiejs pis iejs al ranih`øl hjl an ihtuin sa eatarb`li al an ashalir`j talealh`in qua s` Iksjrpansi .X.I., hjlt`lui prasaltiej ul hjbpjrtib`altj s`b`nir in qua ci val`ej sudatj, sa aspari qua nis valtis `lhrabaltal al ul 8?,80% iluin, i pirt`r ean iùj ;693. Isâ b`sbj an hjstj ea valtis al ranih`øl hjl nis valtis al ul 39,??% y njs mistjs jparih`jlinas y ea valtis al ul 5,?8% iluin.
13
Uikni 86. Ashalir`j Ualealh`in Iùj
Uisi Ea @lhrab altj
_altis
Uisi Ea @lhrabal tj Hjstjs
Hjstjs Vrjyahtiejs
% Ea @lhrabaltj Mistjs Ieb.
Mistjs Vrjyahtiejs Ieb. P
_altis ;691 ;69? ;69= ;693 ;690 ;6;6 ;6;9 ;6;; ;6;8 ;6;5 ;6;1 ;6;? ;6;=
-?,60% 5;,53% 93,90%
$;.=59.;59,6 $;.=59.;59,666 $;.1=5. $;.1=5.9?5,66 9?5,66 $8.??=.?0;,66 $5.885.015,55
36,86% 31,?;% =0,61% 39,??%
$;.;69.;3 $;.;69.;31,66 1,66 $;.;68.05 $;.;68.058,66 8,66 $;.300.;3 $;.300.;38,66 8,66 $8.180.== $8.180.==;,00 ;,00
P _tis. ;,=?% 5,06% ?,;5% 5,?8%
93,90% 93,90% 93,90% 93,90% 93,90% 93,90% 93,90% 93,90% 93,90%
$1.9;8.?99,36 $?.611.=50,55 $=.91=.5=6,?= $3.510.?;=,3; $0.003.?3?,9? $99.39=.=51 $99.39=.=51,61 ,61 $98.0?=.=55 $98.0?=.=55,01 ,01 $9?.163.308 $9?.163.308,30 ,30 $90.19;.818 $90.19;.818,1; ,1;
39,??% 39,??% 39,??% 39,??% 39,??% 39,??% 39,??% 39,??% 39,??%
$5.938.=? $5.938.=?8,9? 8,9? $5.055.09 $5.055.095,8; 5,8; $1.355.15 $1.355.159,1? 9,1? $?.06=.38 $?.06=.38=,=0 =,=0 $3.9?5.1= $3.9?5.1=0,;3 0,;3 $0.?50.01 $0.?50.010,50 0,50 $99.561.1=5,?; $98.536.133,55 $91.088.960,60
5,?8% 5,?8% 5,?8% 5,?8% 5,?8% 5,?8% 5,?8% 5,?8% 5,?8%
_tis. $=1.=6;,66 $9;?.93;,66 $;;3.=?0,66 $;66.3?1,51 $;8=.563,3? $;36.?66,?9 $889.?16,;; $809.03=,;3 $5?8.869,55 $15=.130,== $?5=.;9;,?= $=?5.010,08 $065.9;3,05
Anikjriej pjr 4 Nis iutjris Oualta4 (Iksjrpansi X.I., ;693)
Ashalir`j Jpt`b`sti As an ashalir`j qua sa uk`hi altra an ashalir`j talealh`in y an ashalir`j utøp`hj, `eain j bés easaikna. An ashalir`j jpt`b`sti hjltabpni hibk`js rizjliknas y pjs`t`vjs qua lj riyil al uli ibk`h`øl easbasuriei, kisiei bés al njs easajs qua al njs ouleibalt ouleibaltjs js qua hjlnnavil njs cahcjs y njs eitjs. An ashalir`j jpt`b`sti pniltai ihh`jlas easaiknas, parj varjsâb`nas qua e`st`lmual iquannj qua puaea njmrirsa al an hjrtj, bae`ilj y nirmj pnizj. Viri ni prae`hh`øl ean ilén`s`s jpt`b`sti sa hjls`earil nis ojrtinazis y jpjrtul`eieas qua Iksjrpansi X.I. Al nis ojrtinazis pjeabjs balh`jlir ni Hipih`eie e`raht`vi y jrmil`zih`øl, [aspuasti in r`asmj, Hipih`eie hjbpat`t`vi, Hipih`eie tahljnøm`hi, @lhrabaltj ea ni pjknih`øl, Vrjeuhtjs, Xambaltj ea barhiej, Vrjeuhtjs sust`tut`vjs y Vjear ea lamjh`ih`øl. B`altris qua al nis jpjrtul`eieas pjeabjs eah`r qua an V@K ean sahtjr as biyjr i 9, nj qua `le`hi lj astir al inarti ea [`asmj sjkarilj, ni `lonih`øl sa alhualtri ealtrj ean rilmj ljrbin nj qua `le`hi qua njs prah`js sjl ihhas`knas i njs hn`altas. 10
Easpuàs ea asta ilén`s`s y i ni mril hipih`eie hipi h`eie qua prasalti ni abprasi sa as aspari pari qua nis valtis `lhrabaltal al ul ;8,86% iluin, i pirt`r ean iùj ;693. Is` b`sbj an hjstj ea valtis al ranih`øl hjl nis valtis e`sb`luyi al ul =0%, yi qua ni abprasi `lvart`ré al luavjs aqu`pjs piri jpt`b`zir njs hjstas ea prjeuhh`øl y njs mistjs jparih`jlinas y ea e a valtis al ul 1, 8% iluin. Astj ea ihuarej in ashalir`j jpt`b`sti ealtrj ea ni abprasi.
Uikni 89. Ashalir`j Jpt`b`sti
Iùj
;691 ;69? ;69= ;693 ;690 ;6;6 ;6;9 ;6;; ;6;8 ;6;5 ;6;1 ;6;? ;6;=
Uisi Ea @lhraba ltj _altis
-?,60% 5;,53% ;8,86% ;8,86% ;8,86% ;8,86% ;8,86% ;8,86% ;8,86% ;8,86% ;8,86% ;8,86%
_altis
Uisi Ea @lhraba ltj Hjstjs
Hjstjs Vrjyahtiejs
Uisi Ea @lhrabaltj Mistjs Ieb. P _tis.
Mistjs Vrjyahtiejs Ieb. P _tis.
$;.=59.;59,6 $;.=59.;59,666 $;.1=5.9?5,6 $;.1=5.9?5,666 $8.??=.?0;,6 $8.??=.?0;,666 $5.1;;.;?5,; $5.1;;.;?5,;55 $1.1=1.019,3 $1.1=1.019,366 $?.3=1.953,1 $?.3=1.953,1== $3.5==.613,9 $3.5==.613,900 $96.51;.;9; $96.51;.;9;,=1 ,=1 $9;.33=.1=3 $9;.33=.1=3,8; ,8; $91.306.835 $91.306.835,6= ,6= $90.10;.358,1? $;5.91=.0=?,96 $;0.=3?.=35,15
36,86% 31,?;% =0,61% =0,66% =0,66% =0,66% =0,66% =0,66% =0,66% =0,66% =0,66% =0,66% =0,66%
$;.;69.;3 $;.;69.;31,66 1,66 $;.;68.05 $;.;68.058,66 8,66 $;.300.;3 $;.300.;38,66 8,66 $8.1=;.13 $8.1=;.133,=1 3,=1 $5.561.66 $5.561.669,0; 9,0; $1.589.8? $1.589.8?=,8= =,8= $?.?0?.3= $?.?0?.3=1,0= 1,0= $3.;1=.;5 $3.;1=.;53,6= 3,6= $96.939.93? $96.939.93?,3= ,3= $9;.118.568 $9;.118.568,59 ,59 $91.5=3.85? $91.5=3.85?,59 ,59 $90.635.369 $90.635.369,9; ,9; $;8.189.110 $;8.189.110,=3 ,=3
;,=?% 5,06% ?,;5% 1,86% 1,86% 1,86% 1,86% 1,86% 1,86% 1,86% 1,86% 1,86% 1,86%
$=1.=6;,6 $=1.=6;,666 $9;?.93;,66 $;;3.=?0,66 $;80.?36,66 $;01.1;1,51 $8?5.83;,3= $550.;35,63 $118.0?=,;3 $?38.659,?1 $35;.906,8? $9.683.5;6,= $9.683.5;6,=99 $9.;36.8=;,= $9.;36.8=;,=88 $9.1=3.?00,1 $9.1=3.?00,133
Anikjriej pjr 4 Nis iutjris Oualta4 (Iksjrpansi X.I., ;693)
Ashalir`j pas`b`sti An ashalir`j pas`b`sti hjltabpni ul eatar`jrj ea ni s`tuih`øl ihtuin, parj s`l nnamir i uli s`tuih`øl hiøt`hi. As an ashalir`j qua sa alhualtri al bae`j ean ashalir`j talealh`in y an ashalir`j hitistrøo`hj j iquanni s`tuih`øl qua abpajri eribét`hi y ihanarieibalta ul s`stabi i hiusi ea oihtjras easastik`n`ziltas, `laspariejs y eashjltrjniejs ealtrj ea nis vir`iknas ea astue`j. Viri an ilén`s`s pas`b`sti hjls`earibjs nis eak`n`eieas y ibalizis qua prasaltil ni jrmil`zih`øl piri nj huin talabjs4 nis eak`n`eieas qua bés isahci in oulh`jlib`altj ea ni jrmil`zih`øl as an n`earizmj ea su maralta yi an b`sbj lj prasalti sjnuh`jlas i njs prjknabis ?6
qua puaei prasaltir ni jrmil`zih`øl, al huiltj i nis ibalizis sa alhualtril ni `lastik`n`eie ahjløb`hi ean piâs, an `lhrabaltj ean easabpnaj, an `lhrabaltj ean r`asmj piâs, altra jtris. Astjs avaltjs lamit`vjs sa val raonadiejs al ni e`sb`luh`øl ea ni `lvars`øl axtrildari al an piâs y pjr alea al an sahtjr in qua partalaha Iksjrpansi X.I. Ea ihuarej i astis prae`hh`jlas sa ast`bi qua nis valtis e`sb`lu`rél al ul 9?% iluin, njs hjstjs ea valtis `lhrabaltirél al ul 3;,85%, eak`ej i ni `lastik`n`eie ahjløb`hi, njs hibk`js tr`kutir`js, njs hibk`js pjnât`hjs altra jtrjs, isâ tibk`àl an mistj ea jparih`øl y ea valtis `lhrabaltiré al ul ?,55%, eak`ej in `lhrabaltj ean easabpnaj, pjs`knabalta an `lhrabaltj ea ni `lonih`øl altra jtrjs oihtjras.
Uikni 8;. Ashalir`j Vas`b`sti Iùj
Uisi Ea @lhrabalt j _altis
;691 ;69? ;69= ;693 ;690 ;6;6 ;6;9 ;6;; ;6;8 ;6;5 ;6;1 ;6;? ;6;=
_altis
Uisi Ea @lhrabal tj Hjstjs
Hjstjs Vrjyahtiejs
-?,60% 5;,53% 9?,66% 9?,66%
$;.=59.;59,6 $;.=59.;59,666 $;.1=5.9?5,6 $;.1=5.9?5,666 $8.??=.?0;,6 $8.??=.?0;,666 $5.;15.1;;,= $5.;15.1;;,=;; $5.081.;5?,8 $5.081.;5?,8??
36,86% 31,?;% =0,61% 3;,85% 3;,85%
$;.;69.;31, $;.;69.;31,66 66 $;.;68.058, $;.;68.058,66 66 $;.300.;38, $;.300.;38,66 66 $8.168.9=5, $8.168.9=5,69 69 $5.6?8.?39, $5.6?8.?39,31 31
Uisi Ea @lhrabalt j Mistjs Ieb. P _tis. ;,=?% 5,06% ?,;5% ?,55% ?,55%
9?,66% 9?,66% 9?,66% 9?,66% 9?,66% 9?,66% 9?,66% 9?,66%
$1.=;5.331,= $1.=;5.331,== $?.?56.3?=,1 $?.?56.3?=,16=6 $=.=68.56?,; $=.=68.56?,;00 $3.081.019,8 $3.081.019,866 $96.8?1.=68,1 $96.8?1.=68,199 $9;.6;5.;9?,6 $9;.6;5.;9?,6== $98.053.606,? $98.053.606,?55 $9?.9=0.=31,9 $9?.9=0.=31,911
3;,85% 3;,85% 3;,85% 3;,85% 3;,85% 3;,85% 3;,85% 3;,85%
$5.=98.3=6, $5.=98.3=6,05 05 $1.5?3.606, $1.5?3.606,86 86 $?.85;.035, $?.85;.035,=5 =5 $=.81=.3?;, $=.81=.3?;,86 86 $3.181.9;6, $3.181.9;6,;= ;= $0.066.=80, $0.066.=80,19 19 $99.535.31=, $99.535.31=,35 35 $98.8;;.581,60 $98.8;;.581,60
?,55% ?,55% ?,55% ?,55% ?,55% ?,55% ?,55% ?,55%
Mistjs Vrjyahtiejs Ieb. P _tis.
$8?3.?3;,?5 $5;=.?=9,3= $50?.600,8= $1=1.5=1,;? $??=.119,89 $==5.810,1; $303.;1=,65 $9.659.0=3,9 $9.659.0=3,9??
$=1.=6;,66 $9;?.93;,66 $;;3.=?0,66 $;=8.009,;? $89=.3;0,3=
Oualta4 (Iksjrpansi X.I., ;693) Anikjriej pjr4 Nis iutjris
K ;. Vrab`sis ea prjyahh`øl ean astiej ea rasuntiejs al an ashalir`j talealh`in
Bàtjej ea hénhunj ea hrah`b`altj ea valtis An bàtjej ea hénhunj ea hrah`b`altj ea valtis sa ciha i trivàs ean ilén`s`s ea nis valtis c`stør`his, i pirt`r ea nis huinas sa ilin`zi ni talealh`i ean hrah`b`altj j eahrah`b`altj ea nis ?9
valtis tjtinas, y sa eatarb`li uli ahuih`øl qua parb`ta cihar uli prjyahh`øl piri eatarb`lir an hrah`b`altj ea valtis y prjyahtirnj i iùjs outurjs. Viri eatarb`lir quà t`pj ea ahuih`øl ljs parb`t`ré talar ni prjyahh`øl ea valtis, va ltis, sa ilin`zir nis valtis ea ni abprasi Iksjrpansi easea eas ea an iùj ;698. I trivàs ea ni oo`muri `muri pjeabjs jksarvir qua ni prjyahh`øl ea valtis s`mua uli talealh`i n`lain.
O`muri 5;. @lmrasjs ea iht`v`eieas Jre`lir`is
@lmrasjs ea iht`v`eieas jre`lir`is 5.666.666,66 8.666.666,66 ;.666.666,66 9.666.666,66 6,66 ;698
;695
;691
;69?
;69=
Ljti4 Ilén`s`s ean hrah`b`altj ea valtis. Oualta4 Xupar`ltalealh`i ea Hjbpiùâis, vinjras y samurjs (;695-;69?).
Hjls`earilej qua ni oørbuni tjbiré hjbj vir`ikna vir `ikna `leapale`alta njs iùjs, y hjbj vir`ikna eapale`alta nis valtis tjtinas, piri an pniltaib`altj ean s`stabi ea ahuih`jlas sa tjbirél njs vinjras c`stør`hjs ea valtis qua in rasjnvar ljs parb`t`ré par b`t`ré eatarb`lir an vinjr ea nis `lhøml`tis y isâ jktalar ni prjyahh`øl ea nis valtis ean ;693.
Uikni 88. _altis vinjrieis al b`nnjlas ea eøniras Iùj
S _altis (P) SP
S\;
;698
6 9,1?8
6,666
6,666 ;,55;
;695
9 ;,;58
;,;58
9,666 1,686
;691
; ;,3;5
1,?50
5,666 =,0==
;69?
8 ;,1=5
=,=;;
0,666 ?,?;?
;69=
5 8,??3
95,?=9 9?,666 98,518
UJUIN 96 9;,3=;
P\;
86,;31 86,666 81,1;3
Anikjriej pjr. Njs iutjras Oualta. jktal`ej ea ni Xupar`ltalealh`i Xupar`ltalealh`i ea hjbpiùâis, vinjras y samurjs (;695-;69?)
?;
Eiej qua ni ahuih`øl prasalti uli ôl`hi vir`ikna `leapale`alta `leapale `alta (x) qua raprasalti njs iùjs, altjlhas i pirt`r ea njs eitjs prasaltiejs al ni tikni iltar`jr pniltabjs ul s`stabi ea ahuih`jlas qua ljs parb`ta eao`l`r njs vinjras ea i y k ealtrj ea ni ahuih`øl prasaltiei. O(x)2y P2 i+kx Ahuih`øl4 9. ;.
∙ 2 +∙ + ∙ ∙ 2 ∙ + ∙
[aabpnizilej njs vinjras al 9
9;,3;3; 2 1 +96 + 96
[aabpnizilej njs vinjras al ;
86,9= 2 96 + 86 In `muinir njs vinjras ea ni ahuih`øl4
(-;)*9;,3=;
2 (-;)*1ª
+
(-;)*96k
86,;350?5
2 96ª
+
86k
5,15910?
2 6
+
96k
(5,15/96)
2 K
K26,515910? I29,???69=? Vjr nj qua o`linbalta ni ahuih`øl piri prjyahtir nis valtis al malarin as4
2 9,9,?= + 6,5511 Vjr
nj
qua,
s`
kushibjs
hjljhar
ni
prjyahh`øl
ean
iùj
;693,
altjlhas4
2 29,?808?391, = + 6,5111?1 ?8
Vjr nj huin hjls`earirâibjs qua hjl raspahtj in iùj ;69= ci ax`st`ej ul hrah`b`altj ean =,85% raspahtj i nis valtis ea njs iùjs iltar`jras. An huin biltalerabjs hjbj ni tisi ea hrah`b`altj talealh`in eurilta njs s`mu`altas 96 iùjs prjyahtiej. Ni tisi ea hrah`b`altj ea nis valtis tibk`àl sa puaea prjyahtir al oulh`øl ea ni tisi ea hrah`b`altj ea ni `lonih`øl, qua raparhut`ré al an prah`j ea valti ea njs prjeuhtjs y an prjbae`j ea hilt`eie ea ul`eieas vale`eis.
Uikni 85. Hrah`b`altj ea ni `lonih`øl
Iùj ;691 Uisi ea 8,83 `lonih`øl Eahrah`b`altj
;69? 9,9;
;69= -6,;
-??,0%
-99=,0%
Oualta4 (@LAH, ;69=) Anikjriej pjr4 nis iutjris
An Ahuiejr itriv`asi pjr uli euri s`tuih`øl ahjløb`hi hjbj sa jksarvi al njs `le`hiejras prasaltiejs al ni tikni iltar`jr. Al ejlea ni `lonih`øl prjbae`j as ea ;,10. X`l abkirmj, al an ilén`s`s ean hrah`b`altj pjeabjs jksarvir qua an ahuiejr sa alhualtri ihtuinbalta al eaonih`øl j qua hiei vaz ni `lonih`øl vi e`sb`luyalej. Vjr nj tiltj, eakarâi hjls`earirsa qua ni tisi ea `lonih`øl prasalti vinjras buy vir`iknas qua pjeâil pjeâi l raparhut`r an ilén`s`s j prjyahh`øl ea nis valtis yi qua ni prjyahh`øl ea eahrah`b`altj buastri qua ni `lonih`øl e`sb`lu`ré al ul 0;,5% al prjbae`j piri an iùj ;693.
Viri hinhunir an hrah`b`altj al valtis huilej hjljhabjs njs prah`js y ni hilt`eie vale`ei. Uibk`àl as `bpjrtilta eastihir an hrah`b`altj al valtis raspahtj i hiei prjeuhtj.
Uikni 81. Vrjbae`j ea hrah`b`altj al valtis
;691 Xab`anikjriej =?1,80 Hrah`b`altj ==?,3= Anikjriej Hrah`b`altj 9.15;,;? Ujtin Hrah`b`altj Vrjbae`j
;69? =33,;0 8% ?39,50 -9;% 9.5?0,=3 -1%
;69= 9.;56,11 1=% 330,01 89% ;.986,16 51%
Oualta4 Kjnsi ea _injras ea Yu`tj (Iksjrpansi, ;693) Anikjrih`øl4 Vjr nis iutjris
?5
Hjbj pjeabjs jksarvir al ni tikni iltar`jr s` ax`sta ul iubaltj ea ni hilt`eie eabileiei, qua al prjbae`j as ean ;6%. Ea njs huinas njs prjeuhtjs sab`anikjriejs t`alal uli hrah`alta eabilei qua iubalti i ul prjbae`j ean 86%, b`altris qua njs prjeuhtjs anikjriejs eabileiejs ôl`hibalta hrahal i ul prjbae`j ean 0%. An hénhunj ea nis valtis tjtinas v`ala eiej pjr ni bunt`pn`hih`øl ea ni hilt`eie prjeuh`ei, pjr an prah`j ea hiei k`al prjeuh`ej. Vjr nj qua, s` is`mlibjs in prah`j uli vir`ikna p, y i ni hilt`eie ul vinjr q pjr nj tiltj an hrah`b`altj ast`biej ea valtis valerâi eiej pjr4 O(x)2(q*(9+;6%)*(p*;,10) Viri an ilén`s`s ea hrah`b`altj al valtis tjbirabjs ni tisi ea hrah`b`altj eatarb`liei i trivàs ean pr`bar bàtjej. Pi qua sa puaea hjls`earir uli pjlearih`øl ean hrah`b`altj al valtis, an prah`j ea valti eiej tiltj pjr ni `lonih`øl, isâ hjbj pjr inmuli eah`s`øl ea ni abprasi. Hjls`earilej qua ni tisi ea hrah`b`altj as ean =,85% altjlhas.
Uikni 8?. Vrjyahh`øl ea valtis
Iùj ;69= ;693 ;690 ;6;6 ;6;9 ;6;;
Hrah`b`altj =,85% =,85% =,85% =,85% =,85%
_altis tjtinas $ 8.??=.==6,66 $ 8.08?.391,?6 $ 5.;;1.10?,== $ 5.181.1?9,;6 $ 5.3?3.;?;,=1 $ 1.;;1.8?0,86
;6;8 ;6;5 ;6;1 ;6;? ;6;=
=,85% =,85% =,85% =,85% =,85%
$ $ $ $ $
1.?63.?=9,68 ?.6;6.630,50 ?.5?9.?3=,98 ?.081.?==,=8 =.555.58=,58
Anikjrih`øl4 Vjr nis iutjris
Hjstj ea valtis Iksjrpansi Vipanas Iksjrkaltas X.I.as uli abprasi alhirmiei ea ni „anikjrih`øl,
trilsojrbih`øl, `ltarbae`ih`øl y hjbarh`in`zih`øl ea pipanas `leustr`inas y iksjrkaltas al tjeis sus hnisas‒ (Iksjrpansi, ;693). Vjr nj tiltj, in sar uli abprasi prjeuhtjri in prjyahtir njs hjstjs
ea valti sa kushiré cihar ul ilén`s`s raspahtj i huén as an pjrhaltida qua raprasalti an hjstj ea ?1
valtis qua `lhnuyal njs hjstjs e`dj y vir`iknas sjkra nis valtis tjtinas ean prjeuhtj y ni prjyahh`øl `muinbalta sa rain`ziré al kisa i nis valtis prjyahtieis. Viri eatarb`lir an pjrhaltida prjbae`j sa tjbil njs vinjras c`stør`hjs ea ni abprasi y sa eatarb`li ul prjbae`j.
Uikni 8=. Avinuih`øl c`stør`hi piri eatarb`lir prjbae`j ea hjstj ea valtis Iùj _altis Hjstj ea valtis %Hjstj valtis/valtis
;691 ;69? ;69= $ ;.3;5.856,66 $ ;.1=5.9?5,66 $ 8.??=.==6,66 $ ;.;69.;31,66 $ ;.;68.058,66 $ ;.300.;38,66 ea ==,05%
31,?;%
=0,61%
Oualta4 Kjnsi ea _injras ea Yu`tj (Iksjrpansi, ;693) Anikjrih`øl4 Vjr nis iutjris
An prjbae`j ean hjstj ea valtis/valtis as ea 36,3=%, hjl asta vinjr sa prjhaea i prjyahtir an hjstj ea valtis i outurj ea ni alt`eie, tjbilej hjbj kisa nis valtis prjyahtieis iltar`jrbalta. ilta r`jrbalta.
Uikni 83. Vrjyahh`øl ean hjstj ea valtis
Iùj ;69= ;693 ;690 ;6;6 ;6;9 ;6;; ;6;8 ;6;5 ;6;1 ;6;? ;6;=
Hjstj ea valtis $ ;.300.;38,66 8938?80,?63 859=9=;,86= 8??=381,1?5 808?331,0=5 5;;1?=;,86= 5181?5;,;=8 53?3850,==1 1;;15?;,=65 1?63==9,;05 ?6;690=,968
Anikjrih`øl4 Vjr nis iutjris
Qt`n`eie Kruti al _altis
Ni Qt`n`eie Kruti sa eatarb`li bae`ilta ni e`oaralh`i ea nis valtis y an hjstj ea valtis, as pjr tiltj qua nis ut`n`eieas ea valti prjyahtieis sjl4 s jl4 ??
Uikni 80. Qt`n`eie Kruti al _altis Iùj Hjstj ea valtis ;69=
_altis tjtinas
;.300.;38,66 $
Qt`n`eie Kruti
8.??=.==6,66 $
=?3.53=,66
;693 8938?80,?63
$
8.08?.391,?6 $
=18.9=1,00
;690 859=9=;,86= ;6;6 8??=381,1?5
$ $
5.;;1.10?,== $ 5.181.1?9,;6 $
363.5;5,5? 3?=.=;1,?8
;6;9 808?331,0=5
$
5.3?3.;?;,=1 $
089.8=?,=3
;6;; 5;;1?=;,86=
$
1.;;1.8?0,86 $
000.?0?,00
;6;8 5181?5;,;=8
$
1.?63.?=9,68 $
9.6=8.6;3,=?
;6;5 53?3850,==1
$
?.6;6.630,50 $
9.919.=80,=9
;6;1 1;;15?;,=65
$
?.5?9.?3=,98 $
9.;8?.;;5,58
;6;? 1?63==9,;05
$
?.081.?==,=8 $
9.8;?.06?,58
;6;= ?6;690=,968
$
=.555.58=,58 $
9.5;5.;56,88
Anikjrih`øl4 Vjr nis nis;693 iutjris Oualta4 Iksjrpansi,
Mistjs Jparih`jlinas
Mistj _altis Njs mistjs ea valti sjl pirta ea njs mistjs jparih`jlinas, samôl nis L@H sjl njs mistjs `lhrabaltiknas e`rahtibalta itr`ku`knas i ni valti ea ul iht`vj. Viri ni prjyahh`øl ean mistj ea valtis sa ut`n`ziré an b`sbj bàtjej in prjyahtir an hjstj ea valtis, y sa rain`ziré i trivàs ea eitjs c`stør`hjs ea ni abprasi. Al prjbae`j eurilta an par`jej ;691-;69= njs mistjs ea valti raprasaltirjl an 5,?9% ea nis valtis, asta vinjr parb`t`ré p arb`t`ré prjyahtir njs mistjs eurilta njs s`mu`altas 96 iùjs, supjl`alej qua lj ax`sti uli vir`ih`øl s`ml`o`hilta qua ioahta njs b`sbjs.
Uikni 56. Vrjyahh`øl ea mistj ea valtis
;691 ;69? _altis ;3;5856 ;1=59?5 Mistj _altis $ =1.=6;,66 $ 9;?.93;,66 %Mistj valtis/valtis ;,?3% 5,06% Oualta4 Kjnsi ea _injras ea Yu`tj (Iksjrpansi, ;693) Anikjrih`øl4 Vjr nis iutjris
;69= 8??===6 $ ;;3.=?0,66 ?,;5%
?=
Mistjs ieb`l`strit`vjs Njs mistjs ea ieb`l`strih`øl sjl mistjs `le`rahtjs qua lj astél ranih`jliejs hjl ni oikr`hih`øl, prjeuhh`øl j valti, val ti, s`lj hjl an biladj al sâ ea ni alt`eie. Ealtrj ea astjs mistjs astél njs suanjs ea njs ieb`l`striejras, altra jtrjs pjr nj huin buhcis vahas t`alal vinjras o`djs qua puaeal hibk`ir al oulh`øl ean hrah`b`altj ean sinir`j si nir`j kés`hj y jtris vir`iknas bihrjahjløb`his. bihrjahjløb`his . In lj hjljhar ni hjbpjs`h`øl axihti ea njs mistjs ieb`l`strit`vjs, sa ilin`ziré ilin`zir é y prjyahtiré astjs mistjs al oulh`øl ea nis valtis, in `muin qua al njs iltar`jras hisjs eatarb`lilej i pirt`r ea eitjs c`stør`hjs an pjrhaltida ea njs `lmrasjs qua raprasaltil. An ilén`s`s ea njs iùjs ;691, ;69? y ;69= buastri qua al prjbae`j an 99,8;% ea njs `lmrasjs pjr valtis sa ut`n`zirjl piri pimir an mistj ieb`l`strit`vj, an b`sbj qua sa biltaleré eurilta ni prjyahh`øl ea njs 96iùjs i outurj.
Uikni 59. Mistjs Ieb`l`strit`vjs Iùj _altis
;691 $ ;.3;5.856,66
;69? $ ;.1=5.9?5,66
;69= $ 8.??=.==6,66
Mistj Ieb`l`strit` Ieb`l`strit`vj vj %Mistj ieb`l`strit`vj/valtis ieb`l`strit`vj /valtis
$
$
$
;?5.136,66
0,8=%
8?5.103,66
95,9?%
83;.30;,66
96,55%
Oualta4 Kjnsi ea _injras ea Yu`tj (Iksjrpansi, ;693) Anikjrih`øl4 Vjr nis iutjris
Jtrjs `lmrasjs Jtrjs `lmrasjs rao`aral i njs `lmrasjs qua t`ala ni alt`eie qua lj astél ranih`jliejs i ni iht`v`eie ahjløb`hi ea ni abprasi, y pasa i qua al an iùj ;691 lj sa ram`stril asta t`pj ea `lmrasjs piri an iùj iù j ;69? y ;69= astjs prasaltil harhi ean ;,15% eeaa nis valtis ea ni alt`eie, pjr nj tiltj, ut`n`zilej asta prjbae`j sa rain`ziré ni prjyahh`øl piri njs s`mu`altas iùjs.
Uikni 5;. Eitjs c`stør`hjs jtrjs `lmrasjs
Iùj
;691
_altis
$
Jtrjs `lmrasjs
$
;69? ;.3;5.856,66
%Jtrjs `lmrasjs/_altis 6,66%
$
;.1=5.9?5,66 $
8.??=.==6,66
- $
9;1.18?,66 $
969.619,66
5,33%
Oualta4 Kjnsi ea _injras ea Yu`tj (Iksjrpansi, ;693) Anikjrih`øl4 Vjr nis iutjris
?3
;69=
;,=?%
@lmrasjs O`lilh`arjs Njs `lmrasjs o`lilh`arjs sa eatarb`lirél al kisa in pjrhaltida qua raprasaltil ea njs `lmrasjs pjr iht`v`eieas jre`lir`is ea ni alt`eie. Al prjbae`j an hrah`b`altj prjbae`j ea njs `lmrasjs o`lilh`arjs ea Iksjrpansi as ea 6,69% ea nis valtis, eak`ej i qua an ilén`s`s talealh`in nj prjyahtibjs hjl hjls`earih`jlas hjlsarviejris biltalerabjs asta rale`b`altj piri ni prjyahh`øl ea njs iùjs outurjs. outurjs .
Uikni 58. @lmrasjs
Iùj
;691
;69?
;69=
_altis
$
;.3;5.856,66 $
;.1=5.9?5,66 $
@lmrasjs O`lilh`arjs
$
- $
9.63?,66 $
8.??=.==6,66 9;,66
%@lmrasjs O`lilh`arjs/_altis
6,66%
6,65%
6,66%
Oualta4 Kjnsi ea _injras ea Yu`tj (Iksjrpansi, ;693) Anikjrih`øl4 Vjr nis iutjris
Mistjs o`lilh`arjs O`linbalta, njs mistjs o`lilh`arjs sa `lhurral in hjltriar jkn`mih`jlas hjl inmuli alt`eie o`lilh`ari altra jtrjs t`pjs ea o`lilh`ib`altj. An `lhrabaltj ea njs mistjs o`lilh`arjs al prjbae`j as ea 6,;;% ea nis valtis tjtinas ea ni abprasi, nj huin biltalerabjs piri njs s`mu`altas iùjs i prjyahtir an astiej ea rasuntiejs.
Uikni 55. Mistjs o`lilh`arjs
Iùj _altis Mistjs o`lilh`arjs %Mistjs O`lilh`arjs/valtis
;691 ;3;5856 ;.3=5,66
;69? ;1=59?5
6,96%
6,;?%
?.=?3,66
;69= 8??===6 96.0=9,66 6,86%
Oualta4 Kjnsi ea _injras ea Yu`tj (Iksjrpansi, ;693) Anikjrih`øl4 Vjr nis iutjris
Njs ilén`s`s ea tjeis astis hualtis o`linbalta ljs iyueirél i prasaltir an astiej ea rasuntiejs prjyahtiej, tjej astj hjl ni hjls`earih`øl ea uli prjyahh`øl talealh`in, al ejlea njs hrah`b`altjs prasaltiejs al iùjs iltar`jras sa biltalmil i asjs l`vanas prjbae`j. ?0
Uikni 51. Astiej ea [asuntiejs Vrjyahtiej
Iksjrpansi ;69=
;693
;690
;6;6
;6;9
;6;;
;6;8
;6;5
;6;1
;6;?
;6;=
6
9
;
8
5
1
?
=
3
0
96
(+)
_alti
8.??=.==6,66 8.08?.391,?6 5.;;1.10?,== 5.181.1?9,;6 5.3?3.;?;,=1 1.;;1.8?0,86 1.?63.?=9,68 ?.6;6.630,50 ?.5?9.?3=,98 ?.081.?==,=8 =.555.58=,58
(-)
Hjstj ea _alti Qt`n`eie Jparih`jlin Mistj Ieb`l`strit`vj
;.300.;38,66 8.938.?80,?9 8.59=.9=;,89 8.??=.381,1? 8.08?.331,0= 5.;;1.?=;,89 5.181.?5;,;= 5.3?3.850,=3 1.;;1.5?;,=6 1.?63.==9,;0 ?.6;6.90=,96
(2) (-)
=?3.53=,66
=18.9=1,00
363.5;5,5?
3?=.=;1,?8
089.8=?,=3
000.?0?,00
83;.30;,66
551.=09,59
5=3.509,00
198.109,;0
119.;?1,;?
109.=6;,=3
9.6=8.6;3,= ? 9.919.=80,=9 ?81.96?,15
9.;8?.;;5, 58 9.8;?.06?,5 8 9.5;5.;56, 88
?39.?05,91
=89.?00,95
=31.8=;,;6
35;.03;,80
(-)
Mistj _alti
;;3.=?0,66
939.850,;6
905.?19,30
;63.086,83
;;5.;1?,;?
;56.=6?,8?
;13.8?8,98
;==.891,96
;0=.?1=,;=
890.509,?;
85;.0;=,?9
(2) (-)
AK@UEI Eaprah`ih`øl Qt`n`eie
91?.3;?,66
9;?.681,80
981.;36,10
951.;68,0?
911.311,;1
9?=.;3=,31
9=0.110,60
90;.=86,5=
;6?.3?3,6;
;;;.65;,?9
;83.886,88
1.805,16
8.;0;,?0
8.185,;;
8.=08,5=
5.6=9,=5
5.8=6,5;
5.?09,66
1.681,99
1.565,51
1.366,30
?.;;?,59
919.589,16 969.619,66
9;;.=5;,=6 966.916,01
989.=5?,8? 96=.50=,5;
959.596,50 991.83;,=0
919.=38,19 9;8.35?,13
9?;.09=,55 98;.089,;;
9=5.3?3,60 95;.?3;,;?
93=.?01,8? 918.953,1=
;69.5?8,1? 9?5.83;,?8
;9?.;59,=; 9=?.556,=1
;8;.968,0; 930.838,80
9;,66
11=,0;
103,31
?5;,==
?30,0;
=56,18
=05,31
318 ,9?
091,=5
0 3;,0;
9.611,6;
96.0=9,66
3.=96,38
0.850,36
96.6 96.681,?1 81,?1
96.==9,39
99 99.1?9,0? .1?9,0?
9;.596, 9;.596,63 63
98.8;6,56
95.;0 95.;0=,19 =,19
91.85?,;0
9?.5 9?.5=;,66 =;,66
;59.1;8,16
;95.=56,=5
;86.50;,38
;5=.566,56
;?1.153,;9
;31.6;=,;8
861.081,9;
8;3.8=?,?3
81;.5?5,58
8=3.890,96
56?.6=6,8;
(2) (+)
Jparih`jlin Jtrjs @lmrasjs @lmrasjs (+) O`lilh`arjs Mistjs (-) O`lilh`arjs Qt`n`eie iltas pirt`h`pih`øl trikidiejras (2) `bpuastjs Virt`h`pih`øl 8?,; trikidiejras a 1% `bpuastjs (2)
ea a
Qt`n`eie lati
3=.11;,;=
==.358,1;
38.118,?1
30.?3;,?5
0?.;?9,;8
968.8;;,8=
996.069,53
990.68?,11
9;=.=?3,81
98=.956,?=
95=.;66,50
918.0=9,;8
98?.30=,;;
95?.080,93
91=.=9=,=1
9?0.;3?,03
939.=65,3?
901.688,?5
;60.856,95
;;5.?0?,6=
;59.9=3,58
;13.3?0,38
Oualta4 Kjnsi ea _injras ea Yu`tj (Iksjrpansi, ;693) Anikjrih`øl4 Vjr nis iutjris
=6
K 5. Hénhunj ea nis `lvars`jlas ea rapjs`h`øl lahasir`is piri biltalar s`l baljshikj ni hipih`eie ea ea prjeuhh`øl. Nis `lvars`jlas rain`zieis pjr ni abprasi al prjp`aeie, pnilti y aqu`pj, ieabés ea iht`vjs `ltilm`knas sarél prjyahtiejs tjbilej hjbj raoaralh`i an prjbae`j ea su hrah`b`altj ea nis b`sbis i nj nirmj ea njs ônt`bjs 8 iùjs ;691, ;69? y ;69=. Hjls`earibjs qua ieabés ea trikidir hjl an hrah`b`altj al eitjs c`stør`hjs sa eaka tibk`àl trikidir hjl an prjbae`j ea ni ranih`øl altra HIVAS y valtis yi qua, i biyjr vjnubal ea valtis, biyjras `lvars`jlas ea rapjs`h`øl.
Uikni 5?. Vrjyahh`øl ea HIVAS Iùj _altis
;691 $ ;.3;5.856,66
;69? $ ;.1=5.9?5,66
HIVAS
$ ;1.068,66
$ ;0.316,66
$ 96=.306,66
6,0;%
9,9?%
;,05%
HIVAS/ valtis Uisi ea hrah`b`altj
;69= V[JBAE@J $ 8.??=.==6,66
9,?=%
prjbae`j Oualta4 (Iksjrpansi X.I., ;693) Anikjriej pjr4 Nis iutjris
Qli vaz jktal`ej an prjbae`j sa eatarb`li qua nis `lvars`jlas ea hip`tin hraharél i uli rizøl ean 9,?=% eurilta njs iùjs pjstar`jras.
Uikni 5=. Vrjyahh`øl ea nis `lvars`jlas IÙJ
_ALUIX V[JPAHUIEIX
;693 ;690 ;6;6 ;6;9 ;6;;
$ $ $ $ $
8.08?.391,?6 5.;;1.10?,== 5.181.1?9,;6 5.3?3.;?;,=1 1.;;1.8?0,86
HIVAS AL [ANIH@JL I NIX _ALUIX 9,?=% 9,?=% 9,?=% 9,?=% 9,?=%
;6;8 ;6;5 ;6;1 ;6;? ;6;=
$ $ $ $ $
1.?63.?=9,68 ?.6;6.630,50 ?.5?9.?3=,98 ?.081.?==,=8 =.555.58=,58
9,?=% 9,?=% 9,?=% 9,?=% 9,?=%
@L_A[X@ØL HIVAS $ $ $ $ $
?1.318,=0 =6.?35,58 =1.3?0,59 39.585,=5 3=.563,86
$ $ $ $ $
08.3;6,61 966.=6;,98 963.630,68 99?.69=,=0 9;5.1;3,9?
Oualta4 (Iksjrpansi X.I., ;693) Anikjriej pjr4 Nis iutjris
=9
Eaprah`ih`øl Eaprah`ih `øl Xamôl njs ilén`s`s ea ni abprasi Iksjrpansi sa ci eatarb`liej qua ni eaprah`ih`øl y ibjrt`zih`øl sai an 1% ean HIVAS, sa ci sanahh`jliej asta pjrhaltida pjrqua ni biyjr pirta ea nis @lvars`jlas al [apjs`h`øl ea njs Iht`vjs O`djs sjl east`lieis i ni iequ`s`h`øl ea biqu`lir`is qua t`alal uli nirmi v`ei ôt`n y pjr alea su eaprah`ih`øl lj as inti.
Uikni 53. Vrjyahh`øl ea ni eaprah`ih eaprah`ih`øl `øl
IÙJ
;693 ;690 ;6;6 ;6;9 ;6;; ;6;8 ;6;5 ;6;1 ;6;? ;6;=
@L_ L_A A[X@ L
% EA
HIVAS
EAV[AH@IH@ØL
$ $ $ $ $ $ $ $ $
?1.318,=0 =6.?35,58 =1.3?0,59 39.585,=5 3=.563,86 08.3;6,61 966.=6;,98 963.630,68 99?.69=,=0
1% 1% 1% 1% 1% 1% 1% 1% 1%
$
9;5.1;3,9?
1%
EAV[AH@IH@ L V[JPAHUIEI $ 8.;0;,?0 $ 8.185,;; $ 8.=08,5= $ 5.6=9,=5 $ 5.8=6,5; $ 5.?09,66 $ 1.681,99 $ 1.565,51 $ 1.366,30 $ ?.;;?,59
_INJ[ AL N@K[JX V[JP $ ?;.1?9,96 $ ?=.916,;9 $ =;.6=1,05 $ ==.8?8,66 $ 38.68=,30 $ 30.9;0,61 $ 01.??=,6; $96;.?35,13 $996.;9?,06 $993.869,=1
Oualta4 (Iksjrpansi X.I., ;693) Anikjriej pjr4 Nis iutjris
K 1. Hinhunj ea njs `lhrabaltjs ea hip`tin ea trikidj latj ear`viej ean iubaltj ea nis jparih`jlas j ea njs hjstjs hjstjs ea prjeuhh`øl prjeuhh`øl Viri an hénhunj ean `lhrabaltj ea hip`tin ea trikidj latj sa ci tjbiej al hualti ni tisi ea hrah`b`altj ea nis valtis prjyahtieis eak`ej i qua sa alhualtril ranih`jlieis pjrqua s` ax`sta ul iubaltj ea valtis sa iubaltiri pjr alea an hip`tin ea trikidj. Nis valtis prjyahtieis t`alal uli tisi ea hrah`b`altj ea =,85% i pirt`r ean iùj ;69= al ieanilta.
=;
Uikni 50. Vrjyahh`øl ean hip`tin latj ea trikidj UIXI EA @LH[ABALUJ HIV. E A U[IKIDJ
IÙJ
;69= ;693 ;690 ;6;6 ;6;9 ;6;; ;6;8 ;6;5 ;6;1 ;6;? ;6;= Oualta4 (Iksjrpansi X.I., ;693) Anikjriej pjr4 Nis iutjris
=,85% =,85% =,85% =,85% =,85% =,85% =,85% =,85% =,85% =,85%
HIV@UIN EA U[IKIDJ
-8;?6?,66 -86;9;,=; -;=001,99 -;1056,;= -;568?,;1 -;;;=9,00 -;6?8=,;8 -909;;,51 -9==93,3? -9?593,86 -91;98,;6
@LH[ABALUJ EA HIV@UIN EA U[IKIDJ
;808,;3 ;;9=,?9 ;615,35 9065,6; 9=?5,;? 9?85,=? 9195,== 9568,10 9866,1? 9;61,96
=8
K ?. Hinhunj ea njs onudjs ea hidi n`kras n`kras ea ni abprasi abprasi al an ashalir`j ashalir`j talealh`in Uikni 16. Vrab`sis Eitjs _atis
Iùj kisa $ 8.??=.==6,66
Uisi ea hrah`b`altj =,85% ea nis valtis
Hjstj ea valtis
$ ;.300.;38,66
36,3=%
ea nis valtis
Mistjs ieb`l`strih`øl
83;.30;,66
99,8;%
ea nis
Mistjs ea valtis
;;3.=?0,66
5,?9%
valtis ea nis valtis
Jtrjs `lmrasjs
969.619,66
6,69%
Mistjs o`lilh`arjs
96.0=9,66
;,66%
ea nis valtis ea nis valtis
@lvars`øl al hipax
$ 96=.306,66
9,?=%
ea nis valtis
Vrab`si Ni tisi piri ni prjyahh`øl valtis sa hinhunø pjr bae`j ea uli ramras`øl n`lain, tjbilej eitjs c`stør`hjs ea njs ônt`bjs 1 iùjs tal`alej hjbj rasuntiej uli hrah`b`altj qua sa biltaleré piri p iri njs s`mu`altas iùjs ea prjyahh`øl. An hjstj ea valtis sa ranih`jli e`rahtibalta hjl nis valtis, pjr nj huin piri an hénhunj ea su tisi ea hrah`b`altj sa hinhunø pjr bae`j ean prjbae`j ea ni ranih`øl hjstj ea valtis/valtis ea njs ônt`bjs 8 iùjs c`stør`hjs, y asta vinjr ea bilt`ala piri njs iùjs ea prjyahh`øl Njs mistjs ieb`l`strih`øl y valtis sa ranih`jli e`rahtibalta valtis, pjr tiltj nj huin ean piri mistj an hénhunj ea su tisi hjl ea nis hrah`b`altj ea ieb`l`strih`øl y mistj valtis sa hinhunø, pjr bae`j ea ni ranih`øl mistj ieb`l`strih`øl/valtis y mistj ea valtis/valtis , tjbilej al hualti an prjbae`j ea njs ônt`bjs 8 iùjs, y asta vinjr ea bilt`ala piri p iri njs iùjs ea prjyahh`øl Jtrjs `lmrasjs y mistjs o`lilh`arjs sa ranih`jlil e`rahtibalta hjl nis valtis, pjr nj huin piri an hénhunj, ea ni tisi ea hrah`b`altj jtrjs `lmrasjs y mistjs o`lilh`arjs , sa tjbi an prjbae`j ea njs tras ônt`bjs iùjs ea ni ranih`øl jtrjs `lmrasjs /valtis y mistj o`lilh`arjs /valtis, y asta vinjr ea bilt`ala piri njs iùjs ea prjyahh`øl Ni `lvars`øl ea hipax sa ranih`jli e`rahtibalta hjl nis valtis, pjr nj huin piri an hénhunj, sa ci tjbiej uli tisi ea ranih`øl `lvars`jlas hipax/valtis qua sa bilt`ala piri njs iùjs ea prjyahh`øl.
Mistjs ea Eaprah`ih`øl
$ 9;.500,66
1%
hipax
Viri ni eaprah`ih`øl sa tjbi al hualti an hrah`b`altj ean HIVAS , pjr nj huin sa bilt`ala an vinjr ea ni eaprah`ih`øl ean iùj kisa y sa iec`ara an 1% ean hrah`b`altj ean hipax
Anikjriej pjr4 Nis iutjris
=5
Astiej ea [asuntiejs Vrjyahtiej Iksjrpansi X.I ;693
;690
;6;6
;6;9
;6;;
;6;8
;6;5
;6;1
;6;?
;6;=
9
;
8
5
1
?
=
3
0
96
(+)
_alti
8.08?.391,?6 5.;;1.10?,== 5.181.1?9,;6 5.3?3.;?;,=1 1.;;1.8?0,86 1.?63.?=9,68 ?.6;6.630,50 ?.5?9.?3=,98 ?.081.?==,=8 =.555.58=,58
(-)
Hjstj ea _alti
8.938.?80,?9 8.59=.9=;,89 8.??=.381,1? 8.08?.331,0= 5.;;1.?=;,89 5.181.?5;,;= 5.3?3.850,=3 1.;;1.5?;,=6 1.?63.==9,;0 ?.6;6.90=,96
(2)
Qt`n`eie Jparih`jlin
=18.9=1,00
363.5;5,5?
3?=.=;1,?8
089.8=?,=3
000.?0?,00 9.6=8.6;3,=? 9.919.=80,=9 9.;8?.;;5,58 9.8;?.06?,58 9.5;5.;56,88
(+)
Jtrjs @lmrasjs
969.619,66
966.916,01
996=.50=,5; 6=.50=,5;
991.83;,=0
9;8 9;8.35?,13 .35?,13
98; 98;.089,;; .089,;;
95; 95;.?3;,;? .?3;,;?
91 918.953,1= 8.953,1=
9?5 9?5.83;,?8 .83;,?8
99=?.556,=1 =?.556,=1
(-)
Mistj Ieb`l`strit`vj
551.=09,59
5=3.509,00
198.109,;0
119.;?1,;?
109.=6;,=3
?81.96?,15
?39.?05,91
=89.?00,95
=31.8=;,;6
35;.03;,80
(-)
Mistj _alti
939.850,;6
905.?19,30
;63.086,83
;;5.;1?,;?
;56.=6?,8?
;13.8?8,98
;==.891,96
;0=.?1=,;=
890.509,?;
85;.0;=,?9
(2)
AK@UEI
;;=.63?,80
;81.589,15
;1;.=69,83
;=9.;83,65
;09.985,58
89;.506,89
881.59;,=;
8?6.69?,10
83?.5;1,;5
595.==9,63
(-)
Eaprah`ih`øl
8.;0;,?0
8.185,;;
8.=08,5=
5.6=9,=5
5.8=6,5;
5.?09,66
1.681,99
1.565,51
1.366,30
?.;;?,59
AK@U Virt`h`pih`øl trikidiejras a 8?,;1% `bpuastjs
;;8.=08,=6
;89.30=,89
;53.06=,09
;?=.9??,86
;3?.=?5,6;
86=.=00,86
886.8==,?9
815.?9;,98
836.?;5,81
563.155,?=
39.9;1,;;
35.6?;,=3
06.;; 06.;;0,9; 0,9;
0?.35=,=3
968.019,0?
999.1==,;1
990.=?9,30
9;3.15?,06
98=.0=?,88
953.60=,55
(2)
95;.??3,53
95=.385,15
913.?=3,=0
9=6.893,1;
93;.39;,6?
90?.;;;,6?
;96.?91,=8
;;?.6?1,;5
;5;.?53,6;
;?6.55=,;8
(+)
Qt`n`eie lati Eaprah`ih`jlas y ibjrt`zih`jlas
8.;0;,?0
8.185,;;
8.=08,5=
5.6=9,=5
5.8=6,5;
5.?09,66
1.681,99
1.565,51
1.366,30
?.;;?,59
(-)
Mistjs ea hip`tin
?1.318,=0
=6.?35,58
=1.3?0,59
39.585,=5
3=.563,86
08.3;6,61
966.=6;,98
963.630,68
99?.69=,=0
9;5.1;3,9?
(2)
(-)
(2)
@lhrabaltj hip`tin ea trikidjealatj 86;9;,=; ;=001,9 ;=001,999 ;1056,;= ;568?,; ;568?,;11 ;;;=9,00 ;6?8=,;8 909;;,51 9==93,3? 9==93,3? 9?593,86 91;98,; 91;98,;66 Onudj ea hidi e`spjl`kna ean ihh`jl`sti $ 50.305,?? $ 1;.?30,;8 $ ?6.??;,13 $ ?3.090,;= $ ==.16;,90 $ 3?.511,=3 $ 01.3;?,;? $961.??9,=0 $99?.69;,3; $9;?.08;,;3
=1
_injr injr [as`euin ea ni abprasi K =. Hinhunj ean _
Hénhunj ea ni tisi ea hrah`b`altj Ni tisi ea hrah`b`altj ea ni abprasi (m) sa hinhuni al kisa in prjbae`j ean rale`b`altj bunt`pn`hiej pjr an hjao`h`alta ea ratalh`øl, qua sa hinhunil al kisa i njs eitjs c`stør`hjs prasaltiej pjr pjr ni abprasi al njs iùjs ;691, ;691, ;69? y ;69 ;69=. =.
Uikni 19. Hénhunj ea ni tisi ea hrah`b`altj ;691
;69?
;69=
Vitr`bjl`j
$
;.63=.=;8 $
Qt`n`eie ean adarh`h`j
$
911.5;6,91 -$
E`v`ealejs al aoaht`vj
6
Qt`n`eieas [atal`eis
$
Hjao`h`alta ea ratalh`jl(k)
966,6%
966,6%
966,6%
[altik`n`eie hjkra an pitr`bjl`j (QL/V)
=,5%
-;,3%
?,1%
Uisi ea hrah`b`altj
=,55%
-;,38%
?,15%
9.159.138 $ 58.?0=,66
$ 9;0.88;,91
6 911.5;6,91 -$
9.0=3.?=;
6 58.?0=,66 $
Vrjbae`j
9;0.88;,91
8,=;%
Ljti. Njs eitjs sjkra njs e`v`ealejs al aoaht`vj ratal`ejs pjr ni abprasi sa jktuv`arjl ea njs astiejs ea rasuntiejs ea ni abprasi Iksjrpansi prasaltiejs al ni supar`ltalealh`i ea hjbpiùâis vinjras y samurjs (;691 ;69? ;69=). Ejhubaltjs jln`la Iksjrpansi XI. [ahupariej ea4 cttp4//ippshvs.suparh`is.mjk.ah/pjrtineaejhubaltjs/hjlsuntiZh`iZbalu.zun cttp4//ippshvs.suparh`is.mjk.ah/pjrtineaejhubaltjs/hjlsuntiZh`iZbalu.zun
8. Eatarb`lih`øl ea ni tisi ea eashualtj part`lalta (Gu) Ni tisi ea eashualtj hjl an qua sa avinuiré ni abprasi Iksjrpansi sa ealjb`li Gu (ulnavarae hjst jo hip`tin) as eah`r an hjstj eas ipinilhiej ea njs rahursjs7 eak`ej i qua ni
alt`eie lj ut`n`zj o`lilh`ib`altj piri hjlt`luir hjl sus jparih`jlas ljrbinas. An hjstj eas ipinilhiej ea njs rahursjs sa jkt`ala bae`ilta ni s`mu`alta oørbuni4
+ ∝ 9 + ∛ 9 2 9++ 9 +
=?
Ejlea4
Uikni 1;. Eitjs c`stør`hjs piri hénhunj ean hjstj eas ipinilhiej
@le`hiejr Eashr`ph`øl
2
_injr
[altik`n`eie c`stør`hi, kjljs ean tasjrj ea njs AAQQ (Eibjrieil)
;,8;%
Kati eas ipinilhiei ean sahtjr
9,5
Vr`bi ea r`asmj ea barhiej al Astiejs Ql`ejs samôl Eibjrieil [`asmj piâs Ahuiejr i e`h`abkra ea ;693
1,?0% 510
@lonih`øl Astiejs Ql`ejs ;66=-;69=
9,3%
@lonih`øl Ahuiejr ;66=-;69=
8,89%
Ljti. Njs eitjs prasaltiejs al ni tikni sa jktuv`arjl ea e a ni s`mu`altas oualtas4 Eibjrieil (;69=).Eiti irhc`vas.
cttp4//pimas.starl.lyu.aeu/~ieibjeir/LawZCjbaZVima/eitiirhc`vae.ctbn Kilhj Haltrin ean [ahupariej ea cttp4//pimas.starl.lyu.aeu/~ieibjeir/LawZCjbaZVima/eitiirhc`vae.ctbn Ahuiejr (;69=). [`asmj piâs. [ahupariej ea cttps4//hjltal`ej.kha.o`l.ah/rasubalZt`hgar.pcp:t`hgarZvinua2r`asmjZpi`s cttps4//hjltal`ej.kha.o`l.ah/rasubalZt`hgar.pcp:t`hgarZvinua2r`asmjZpi`s ]jrne ]`ea @lonit`jl Eiti (;69=). @lonih`øl ea Astiejs Ql`ejs. [ahupariej ea ea cttps4//as.`lonit`jl.au/tisis-ea-`lonih`jl/astiejs-ul`ejs/`lonih`jlc`stjr`hi/`ph-`lonih`jl-astiejs-ul`ejs-;69=.ispx c`stjr`hi/`ph-`lonih`jl-astiejs-ul`ejs-;69=.ispx Qt`n`zilej njs vinjras ni tisi ea eashualtj jktal`ei oua ea4
2 (9+;, (9+;,8;%+9,9+9,3% 51,?0%+5, 10% ∝ 9+8,89% 9%) ∛ 9 2 93,93,55% 55%
As eah`r, an hjstj eas ipinilhiej ea njs rahursjs as ean 93,55%.
_injr ras`euin O`linbalta, an vinjr ras`euin ea ni abprasi sa hinhuni tjbilej al hualti an lôbarj ea iùjs qua ni abprasi sa prjyahti i biltalarsa al an barhiej. Ealtrj ean prjspahtj ea joarti pôkn`hi sa bil`o`asti qua ni abprasi taleré ul t`abpj ea eurih`øl ea 56 iùjs. Vjr nj huin sa ut`n`ziré ni s`mu`alta oørbuni ut`n`zilej njs eitjs iltar`jrbalta prasaltiejs.
9 + 2 ∝9+ ∝ 9+ ∛ 9+ Ejlea4
2 ∝ 9 + 2 9;9;?0?08;8;,,;3 ∝ 99++ 8,==;% ;%
2989?53,85
M28,=;% Gu293,55%
==
L2 56-96286 (eak`ej i qua an unt`bj onudj ea hidi sa prjyahtø in iùj ;6;=, y easea e asea icâ ni abprasi euriré asa t`abpj) Vjr nj tiltj raabpniziej njs eitjs jktalerabjs qua4
2 989?53,85 ∝9+ 9 + 8,=;% 93,55%∛8, 2=;%096.=8;,639+93,55%
=3
5. Ihtuin`zih`øl ea njs onudjs ea hidi ashalir`j talealh`in 5.9 Ihtuin`zir njs onudjs ea hidi prav`stjs i su tisi hjrraspjle`alta Ni tisi ea eashualtj hjl an qua sa ihtuin`ziré njs onudjs ea hidi ea ni abprasi Iksjrpansi saré ni il tar`jrbalta hinhuniei „ Gu‒ „ Gu‒ (ulnavarae hjst jo hip`tin) as eah`r an hjstj eas ipinilhiej ea njs rahursjs7 eak`ej i qua ni alt`eie lj ut`n`zj o`lilh`ib`altj piri hjlt`luir hjl sus jparih`jlas ljrbinas.
Uikni 18 Uisi ea eashualtj
Uisi ea eashualtj 93,5566% gu Ljti. Njs eitjs prasaltiejs al ni tikni sa jktuv`arjl ea ni s`mu`alta oualta4 Eibjrieil (;69=)
Uikni 15 Onudjs ea hidi ihtuin`ziejs Onudjs ea hidi ihtuin`ziejs
Iùj Onudj ea hidi jparit`vjs ean prjyahtj Onudj ea hidi Ujtinas
;693
$50.305,??
Oudj ea hidi eashjltiejs
$5;.9;?,1;
;690
;6;6
;6;9
;6;;
;6;8
;6;5
;6;1
;6;?
;6;=
$?6.??;,13
$ ?3.090,;=
$ ==.16;,90
$ 3?.511,=3
$ 01.3;?,;?
$ 961.??9,=0
$ 99?.69;,3;
$ 9;?.08;,;3
$ $1;.?30,;8 $?6.??;,13 ?3.090,;= $ $8=.110,05 $8?.199,91 81.6;;,5=
$ ==.16;,90 $ 88.;1;,86
$ 3?.511,=3 $ 89.893,?=
$ 01.3;?,;? $ ;0.863,?;
$ 961.??9,=0 $ ;=.;31,56
$ 99?.69;,3; $ ;1.;05,95
$ 9;?.08;,;3 $ ;8.8??,9=
$50.305,?? $1;.?30,;8
Xubi ea njs onudjs ea hidi $8;9.651,8= eashjltiejs Ljti. Njs eitjs prasaltiejs al ni tikni sa jktuv`arjl ea ni anikjrih`øl ea nis iutjris hjl kisa al eitjs rahjp`niejs ea ni s`mu`altas oualtas4 Eibjrieil (;69=) y ea njs astiejs ea rasuntiejs ea ni abprasi Iksjrpansi prasaltiejs al ni supar`ltalealh`i ea hjbpiùâis vinjras [ahupariej ea4 cttp4//ippshvs.suparh`is.mjk.ah/pjrtineaejhubaltjs/hjlsuntiZh`iZbalu.zun
=0
5.; Hénhunj ean _injr ihtuin ihtuin ean _injr ras`euin Uikni 11. _injr ihtuin ean vinjr ras`euin _injr ihtuin ean vinjr ras`euin _injr ras`euin ea njs OHL, easea an iùj ;6;3 i parpatu`eie Uisi ea eashualtj4 gu _injr ihtuin ea vinjr ras`euin
$ 096.=8;,63 93,5566% $ 9?=.?16,0?
Ljti. Njs eitjs prasaltiejs al ni tikni sa jktuv`arjl ea ni anikjrih`øl ea
ni iutjris hjl kisa al eitjs rahjp`niejs ea e a ni s`mu`altas oualtas4 Eibjrieil (;69=) .
5.8 Hénhunj ean vinjr ea nis ihh`jlas j pirt`h`pih`jlas Uikni 1?. Hénhunj ean vinjr ea nis ihh`jlas j pirt`h`pih`jlas Hénhunj ean vinjr ea nis ihh`jlas j pirt`h`pih`jlas Hjlhaptj _injr ea ni Abprasi s`l eauei (_se) _injr ihtuin ean Ashuej O`shin (t.E) _injr Mnjkin ea ni Abprasi (_A) Iht`vjs Ouari ea axpnjtih`øl (IOA) _injr ean Vis`vj i hjrtj pnizj
_injr $ 533.?0?,88 $ 9==.91;,5 9==.91;,5;; $ ??1.353,=5 $ 06.=;0,66 $ ?38.???,66
View more...
Comments