Topicos-fiscales-2021

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Rgjmrid jasedo 2;24Rgjmrid jasedo 2;24
  
  
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É H F A E GÉ H F A E G
AHVRMFAHVRMFWEEAMH WEEAMH ............................................................................................................................................................................................................. 6......................... 6  
OGQ OGQ FG FG AHNRGUMU AHNRGUMU FG FG OD OD JGFGRDEAÕH JGFGRDEAÕH ........................................................................................................................................... ..................... >>  
GstéGstéiuoms iuoms JaJasedogs ....................................sedogs ................................................................................................................................................................................ ............ > >   
Ahtgrgsgs bdhedrams y bursätaogs ............................................................................................ > Ahtgrgsgs bdhedrams y bursätaogs ............................................................................................ >   
OGQ OGQ FG AI[FG AI[WGUVM UMBRWGUVM UMBRG G OD RGHVD .....................................................OD RGHVD ................................................................................... .............................. 11  
Ránaigh fg fmhdtdrads dutmrazdfds ....................................................................................... 1Ránaigh fg fmhdtdrads dutmrazdfds ....................................................................................... 1  
Ahnrgsms dsaiaodbogs d sugofms y sdodrams.............................................................................. 46Ahnrgsms dsaiaodbogs d sugofms y sdodrams.............................................................................. 46  
Ahnrgsms fg Ahnrgsms fg pgrsmhds pgrsmhds jésaeds jésaeds d d trdvás trdvás fg fg podtdjmrids tgehmopodtdjmrids tgehmoõnaeds......õnaeds......................................................................... ..... 4646  
Mpgrdeamhgs fg emipdôéds idquaodfmrds ............................................................................. 4:Mpgrdeamhgs fg emipdôéds idquaodfmrds ............................................................................. 4:  
OGQ OGQ FGO FGO AI[WGUVM DO AI[WGUVM DO ZDOMR ZDOMR DNRGNDFM ......................DNRGNDFM ......................................................................................................... ................. 4>4>  
UgrUgrvaeams vaeams fafanatdogs ............................natdogs ............................................................................................................................................................................. 4> ................... 4>   
Ugrvaeams prmjgsamhdogs fg igfaeahd ..................................................................................... 40Ugrvaeams prmjgsamhdogs fg igfaeahd ..................................................................................... 40  
EÕFANM EÕFANM JAUEDO JAUEDO FG FG OD OD JGFGRDEAÕH ...........JGFGRDEAÕH ................................................................................................................................................. ...... 4141  
Rgnod Nghgrdo Dhta-dbusm ................................................................................................... 41Rgnod Nghgrdo Dhta-dbusm ................................................................................................... 41  
@mrdram fgo Buzõh Vrabutdram ............................................................................................... 41@mrdram fgo Buzõh Vrabutdram ............................................................................................... 41  
Ghdcghdeamhgs d podzm emh pdnm fajgrafm m gh pdreadoafdfgs ................................................... 41Ghdcghdeamhgs d podzm emh pdnm fajgrafm m gh pdreadoafdfgs ................................................... 41  
Gseasaõh fg smeagfdfgs ....................................................................................................... 41Gseasaõh fg smeagfdfgs ....................................................................................................... 41  
Igredfms rgemhmeafms ........................................................................................................ 2;Igredfms rgemhmeafms ........................................................................................................ 2;  
Zgrajaedeaõh fg fdtms fg afghtafdf ....................................................................................... 2;Zgrajaedeaõh fg fdtms fg afghtafdf ....................................................................................... 2;  
Edhegodeaõh y rgstraeeaõh tgipmrdo fg egrtajaedfms ................................................................. 24Edhegodeaõh y rgstraeeaõh tgipmrdo fg egrtajaedfms ................................................................. 24  
IghsdIghsdcgs fcgs fg ag ahtgrás ......................................htgrás ........................................................................................................................................................................... 22..... 22  
UmoUmoaeaaeatufgs tufgs fg fg fgvmoufgvmoueaõh eaõh ................................................................................................................................................................................................ 22........ 22  
RgspmhRgspmhsdbaosdbaoafdf afdf smoafdrsmoafdrad ad ................................................................................................................................................................................................ 25........ 25  
Rgnastrm Jgfgrdo fg Emhtrabuyghtgs ..................................................................................... 25Rgnastrm Jgfgrdo fg Emhtrabuyghtgs ..................................................................................... 25  
EmipEmiprmbdhrmbdhtgs tgs jasedojasedogs gs ................................................................................................................................................................................................... 27 ............. 27   
Mboandeaõh fg emhsgrvdr emhtdbaoafdf ................................................................................... 2:Mboandeaõh fg emhsgrvdr emhtdbaoafdf ................................................................................... 2:  
Eughtds rgpmrtdbogs pmr ahstatueamhgs jahdheagrds .................................................................. 2> Eughtds rgpmrtdbogs pmr ahstatueamhgs jahdheagrds .................................................................. 2>   
Gcgreaeam Gcgreaeam fg fg jdeuotdfgs jdeuotdfgs y y igcmr igcmr euipoaiaghtm euipoaiaghtm fg mbfg mboandeamhgs oandeamhgs jasedogs jasedogs ......................................................................... 2> . 2>   
  
  
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Igfafds fg dprgiam y dsgnurdiaghtm prgedutmram ................................................................. 2> Igfafds fg dprgiam y dsgnurdiaghtm prgedutmram ................................................................. 2>   
ZasaZasatd td fmifmiaeaoadaeaoadrad rad ........................................................................................................................................................................................................... 20................... 20  
 Detds fg vasatd fmia Detds fg vasatd fmiaeaoadrad eaoadrad ................................................................................................................................................................................................... . 2020  
Fgsdrrmoom fg vasatds fmiaeaoadrads ........................................................................................ 20Fgsdrrmoom fg vasatds fmiaeaoadrads ........................................................................................20  
Zasatds fmiaeaoadrads gspgeéjaeds ........................................................................................... 20Zasatds fmiaeaoadrads gspgeéjaeds ........................................................................................... 20  
RgvaRgvasaõh fsaõh fg fag faetdigetdigh .........h ........................................................................................................................................................................................................ 21. 21  
[odzm pdrd prgsghtdr ahjmrigs m fmeuightms........................................................................ 21[odzm pdrd prgsghtdr ahjmrigs m fmeuightms........................................................................ 21  
Rgvasaõh gogetrõhaed gh idtgrad fg emigream gxtgramr ............................................................ 21Rgvasaõh gogetrõhaed gh idtgrad fg emigream gxtgramr ............................................................ 21  
[rgsuheaõh fg [rgsuheaõh fg trdhsiasaõh ahfgbafd ftrdhsiasaõh ahfgbafd fgo fgrge`m d go fgrge`m d od fasiahuod fasiahueaõh fg eaõh fg párfafds japárfafds jasedogs sedogs ........................ .... 2121  
 Deugrfms emheousavms..... Deugrfms emheousavms........................................................................................................................................................................................................... .... 5;5;  
Iuotds rgodeamhdfds emh prgeams fg trdhsjgrghead .................................................................. 54Iuotds rgodeamhdfds emh prgeams fg trdhsjgrghead .................................................................. 54  
Iuotds pmr bomqugm m fgsbomqugm sgrvaeam fanatdo ................................................................... 54Iuotds pmr bomqugm m fgsbomqugm sgrvaeam fanatdo ................................................................... 54  
[rgsu[rgsuheaõh heaõh fg fg emhtremhtrdbdhfdbdhfm m ........................................................................................................................................................................................... 52....... 52  
[rugbds gh afamid gxtrdhcgrm gh rgeursm fg rgvmedeaõh......................................................... 52[rugbds gh afamid gxtrdhcgrm gh rgeursm fg rgvmedeaõh......................................................... 52  
HmtaHmtajaedeajaedeamhgs mhgs pgrsmhdpgrsmhdogs ogs ................................................................................................................................................................................................ 52........ 52  
Hmtajaedeaõh pmr gstrdfms .................................................................................................... 52Hmtajaedeaõh pmr gstrdfms .................................................................................................... 52  
Ndrdhtéd fgo ahtgrás jasedo ................................................................................................... 52Ndrdhtéd fgo ahtgrás jasedo ................................................................................................... 52  
GibGibdrnm fdrnm fg erg eráfatms ..........................................áfatms ......................................................................................................................................................................... 52. 52  
OGQ OGQ JGFGRDO JGFGRDO FG FG FGRGE@FGRGE@MU ....MU .............................................................................................................................................................. .......................... 5656  
Fgrge`ms pmr Fgrge`ms pmr usm y dprusm y dprmvge`diaghtm fg bdhfds fg jrgeugheads fmvge`diaghtm fg bdhfds fg jrgeugheads fgo gspgetrm rgo gspgetrm rdfamgoáetraem. dfamgoáetraem. ..... ..... 5656  
Fgrge`m Gspgeado y Gxtrdmrfahdram smbrg Iahgréd ................................................................... 57 Fgrge`m Gspgeado y Gxtrdmrfahdram smbrg Iahgréd ................................................................... 57   
Eugrpms rgegptmrgs fg fgsedrnds fg dnuds rgsafudogs ........................................................... 5:Eugrpms rgegptmrgs fg fgsedrnds fg dnuds rgsafudogs ........................................................... 5:  
  
  
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AHVRMFWEEAMHAHVRMFWEEAMH
Go prmegsm fg faseusaõh y dprmbdeaõh fg omsGo prmegsm fg faseusaõh y dprmbdeaõh fg oms
Fgergtms pmr oms eudogs sg rgjmridh,Fgergtms pmr oms eudogs sg rgjmridh,
dfaeamhdh y fgrmndh favgrsds faspmsaeamhgsdfaeamhdh y fgrmndh favgrsds faspmsaeamhgs
fg od Ogy fgo Aipugstm smbrg od Rghtd< fgfg od Ogy fgo Aipugstm smbrg od Rghtd< fg
od Ogy fgo Aipugstm do Zdomr Dnrgndfm< fgood Ogy fgo Aipugstm do Zdomr Dnrgndfm< fgo
Eõfanm Jasedo fg od Jgfgrdeaõh< fg od OgyEõfanm Jasedo fg od Jgfgrdeaõh< fg od Ogy
Jgfgrdo fg Fgrge`ms< y fg od Ogy fgJgfgrdo fg Fgrge`ms< y fg od Ogy fg
Ahnrgsms fg od Jgfgrdeaõh pdrd go gcgreaeamAhnrgsms fg od Jgfgrdeaõh pdrd go gcgreaeam
jasedo fg 2;24 `d emheouafm, y sg `dhjasedo fg 2;24 `d emheouafm, y sg `dh
ghvadfm emh jge`d 7 fg hmvagibrg omsghvadfm emh jge`d 7 fg hmvagibrg oms
fmeuightms dprmbdfms do Gcgeutavm Jgfgrdofmeuightms dprmbdfms do Gcgeutavm Jgfgrdo
pdrd su pmstgramr puboaedeaõh gh go Fadrampdrd su pmstgramr puboaedeaõh gh go Fadram
Mjaeado fg od Jgfgrdeaõh, om eudo hm `dMjaeado fg od Jgfgrdeaõh, om eudo hm `d
suegfafm d od jge`d fg giasaõh fg gstgsuegfafm d od jge`d fg giasaõh fg gstg
fmeuightm.fmeuightm.
Gh gstms Võpaems Jasedogs prgsghtdims uhGh gstms Võpaems Jasedogs prgsghtdims uh
rgsuigh fg ods praheapdogs imfajaedeamhgsrgsuigh fg ods praheapdogs imfajaedeamhgs
dprmbdfds pdrd fae`ms mrfghdiaghtms. Ghdprmbdfds pdrd fae`ms mrfghdiaghtms. Gh
táriahms nghgrdogs, oms tgids qug sgtáriahms nghgrdogs, oms tgids qug sg
emightdh ghtrdräh gh vanmr go 4» fg ghgrmemightdh ghtrdräh gh vanmr go 4» fg ghgrm
fgo 2;24, sdovm gh oms edsms gh qug sgfgo 2;24, sdovm gh oms edsms gh qug sg
emightg uhd jge`d fg ghtrdfd gh vanmremightg uhd jge`d fg ghtrdfd gh vanmr
fastahtd.fastahtd.
Do anudo qug gh go Do anudo qug gh go gcgreaeam jasedo 2;2;, hm sggcgreaeam jasedo 2;2;, hm sg
aheouygh aipugstms dfaeamhdogs ha sgaheouygh aipugstms dfaeamhdogs ha sg
imfajaedh ods tdsds fg aipugstms fg jmridimfajaedh ods tdsds fg aipugstms fg jmrid
fargetd, pgrm sg rgdoazdh favgrsdsfargetd, pgrm sg rgdoazdh favgrsds
imfajaedeamhgs ghediahdfds d igcmrdr odsimfajaedeamhgs ghediahdfds d igcmrdr ods
jdeuotdfgs rgedufdtmrads fg ods dutmrafdfgsjdeuotdfgs rgedufdtmrads fg ods dutmrafdfgs
jasedogs.jasedogs.
Gs aipmrtdhtg tdibaáh rgemrfdr qugGs aipmrtdhtg tdibaáh rgemrfdr qug
donuhds rgjmrids qug jugrmh dprmbdfdsdonuhds rgjmrids qug jugrmh dprmbdfds
furdhtg 2;41, gh go pdqugtg gfurdhtg 2;41, gh go pdqugtg gemhõiaem qugemhõiaem qug
sg dprmbõ pdrd go gcgreaeam fg 2;2;,sg dprmbõ pdrd go gcgreaeam fg 2;2;,
ghtrdräh gh vanmr d pdrtar fgo 2;24, emimghtrdräh gh vanmr d pdrtar fgo 2;24, emim
smh ods faspmsaeamhgs gh idtgrad fgsmh ods faspmsaeamhgs gh idtgrad fg
rgemhmeaiaghtm fg gjgetms pmr ghtafdfgs mrgemhmeaiaghtm fg gjgetms pmr ghtafdfgs m
vg`éeuoms gxtrdhcgrms qug sgdhvg`éeuoms gxtrdhcgrms qug sgdh
trdhspdrghtgs fgsfg uh puhtm fg vastdtrdhspdrghtgs fgsfg uh puhtm fg vastd
jasedo, dsé emim go gstéiuom pdrd oms jmhfmsjasedo, dsé emim go gstéiuom pdrd oms jmhfms
fg ahvgrsaõh gh edpatdo pravdfm qug ahvagrtgfg ahvgrsaõh gh edpatdo pravdfm qug ahvagrtghh
gh Iáxaem d trdvás fg oms rgjgrafmsgh Iáxaem d trdvás fg oms rgjgrafms
vg`éeuoms gxtrdhcgrms. Go aipdetm fg fae`dsvg`éeuoms gxtrdhcgrms. Go aipdetm fg fae`ds
faspmsaeamhgs jug dhdoazdfm gh hugstrmsfaspmsaeamhgs jug dhdoazdfm gh hugstrms
Võpaems Jasedogs 2;41Võpaems Jasedogs 2;41 ――  4, puboaedfms gh  4, puboaedfms gh
hmvagibrg fg 2;41.hmvagibrg fg 2;41.
[drd go gcgreaeam fg 2;24, sg rgdoazdrmh[drd go gcgreaeam fg 2;24, sg rgdoazdrmh
favgrsds imfajaedeamhgs y dfgeudeamhgs dofavgrsdsimfajaedeamhgs y dfgeudeamhgs do
ránaigh fg fmhdtdrads dutmrazdfds ghránaigh fg fmhdtdrads dutmrazdfds gh
idtgrad fg aipugstm smbrg od rghtd, emimidtgrad fg aipugstm smbrg od rghtd, emim
gs od ahemrpmrdeaõh fg edusdogs pdrd odgs od ahemrpmrdeaõh fg edusdogs pdrd od
rgvmedeaõh fg od dutmrazdeaõh fg fmhdtdrad,rgvmedeaõh fg od dutmrazdeaõh fg fmhdtdrad,
bdsdfd gh go imhtm fg sus ahnrgsms pmrbdsdfd gh go imhtm fg sus ahnrgsms pmr
detavafdfgs fastahtds d oms jahgs pdrd omdetavafdfgs fastahtds d oms jahgs pdrd oms qugs qug
jugrmh dutmrazdfds, m fgravdfm fg odsjugrmh dutmrazdfds, m fgravdfm fg ods
edusdogs pdrd rgvmedeaõh qug sg gheughtrdhedusdogs pdrd rgvmedeaõh qug sg gheughtrdh
rgnuodfds gh rgnods dfiahastrdtavds pdrd gorgnuodfds gh rgnods dfiahastrdtavds pdrd go
gcgreaeam fg 2;2;. Ug dprmbdrmh tdibaáhgcgreaeam fg 2;2;. Ug dprmbdrmh tdibaáh
vdrams edibams rgodtavms d od ahjmrideaõhvdrams edibams rgodtavms d od ahjmrideaõh
qug sg fgbg trdhspdrghtdr y od pmsabaoafdfqug sg fgbg trdhspdrghtdr y od pmsabaoafdf
fg egrtajaedr go euipoaiaghtm fgfg egrtajaedr go euipoaiaghtm fg
mboandeamhgs jasedogs, fg trdhspdrghead ymboandeamhgs jasedogs, fg trdhspdrghead y
gvdoudeaõh fg aipdetm smeado.gvdoudeaõh fg aipdetm smeado.
  
  
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[mr fgsusm, sg custajaed od goaiahdeaõh fg ods[mr fgsusm, sg custajaed od goaiahdeaõh fg ods
rgjgrgheads d oms [rmnrdids fg ‟grgjgrgheads d oms [rmnrdids fg ‟gseugodseugod
giprgsd’ gh go emhtgxtm fg ods fmhdtdradsgiprgsd’ gh go emhtgxtm fg ods fmhdtdrads
dutmrazdfds.dutmrazdfds.
Ug deodrd qug oms gjgetms qug fgravdh fg odUg deodrd qug oms gjgetms qug fgravdh fg od
rgnod dhta-dbusm qug jug ahemrpmrdfd dorgnod dhta-dbusm qug jug ahemrpmrdfd do
sastgid jasedo igxaedhm d pdrtar fg ghgsastgid jasedo igxaedhm d pdrtar fg ghgrm fgrm fg
2;2;, y qug pugfgh aipoaedr od rg-2;2;, y qug pugfgh aipoaedr od rg-
edrdetgrazdeaõh fg oms gjgetms jasedogs qugedrdetgrazdeaõh fg oms gjgetms jasedogs qug
dpoaqugh d detms curéfaems, hm djgetdh mdpoaqugh d detms curéfaems, hm djgetdh m
aheafgh gh ods ahvgstandeamhgs y odaheafgh gh ods ahvgstandeamhgs y od
rgspmhsdbaoafdf pghdo qug pufagrd oogndr drgspmhsdbaoafdf pghdo qug pufagrd oogndr d
mranahdrsg fg fae`ms detms.mranahdrsg fg fae`ms detms.
Gh idtgrad fg fgvmoueamhgs, sg rgdoazdhGh idtgrad fg fgvmoueamhgs, sg rgdoazdh
edibams pdrd rgnuodr eagrtms edsms gh omsedibams pdrd rgnuodr eagrtms edsms gh oms
qug sg taghg pmr hm prgsghtdfd uhd smoaeaqug sg taghg pmr hm prgsghtdfd uhd smoaeatuftuf
fg fgvmoueaõh, prmvmedhfm qug hm sgfg fgvmoueaõh, prmvmedhfm qug hm sg
ahtgrruipd go podzm fg prgserapeaõh fg odahtgrruipd go podzm fg prgserapeaõh fg od
mboandeaõh fg od dutmrafdf jasedo pdrdmboandeaõh fg od dutmrafdf jasedo pdrd
fgvmovgr, y sg imfajaed go podzm qug tagfgvmovgr, y sg imfajaed go podzm qug taghg odhg od
dutmrafdf jasedo pdrd giatar od rgsmoueaõhdutmrafdf jasedo pdrd giatar od rgsmoueaõh
emrrgspmhfaghtg.emrrgspmhfaghtg.
Gh idtgrad fg gseasamhgs, sg gstdbogeg qugGh idtgrad fg gseasamhgs, sg gstdbogeg qug
ástd fgbgrä trdtdrsg emim ghdcghdeaõh pdrdástd fgbgrä trdtdrsg emim ghdcghdeaõh pdrd
gjgetms jasedogs eudhfm surngh emhegptms mgjgetms jasedogs eudhfm surngh emhegptms m
pdrtafds gh go edpatdo emhtdbog fg odspdrtafds gh go edpatdo emhtdbog fg ods
giprgsds ahvmouerdfds, qug hm gstuvagrdgiprgsds ahvmouerdfds, qug hm gstuvagrd
rgemhmeafm gh go edpatdo emhtdbog dprmbdfmrgemhmeafm gh go edpatdo emhtdbog dprmbdfm
pdrd gjgetms fg od gseasaõh, edsm pdrd gjgetms fg od gseasaõh, edsm gh go eudo,gh go eudo,
tdibaáh sg gspgeajaed qug odtdibaáh sg gspgeajaed qug od
rgspmhsdbaoafdf smoafdrad fg ods gseahfafdsrgspmhsdbaoafdf smoafdrad fg ods gseahfafds
sgrä aoaiatdfd.sgrä aoaiatdfd.
Vdibaáh sg gxtaghfg od rgspmhsdbaoafdfVdibaáh sg gxtaghfg od rgspmhsdbaoafdf
smoafdrad pdrd rgsafghtgs gh Iáxaem pmrsmoafdrad pdrd rgsafghtgs gh Iáxaem pmr
mpgrdeamhgs emh pdrtgs rgodeamhdfdsmpgrdeamhgs emh pdrtgs rgodeamhdfds
rgsafghtgs gh go gxtrdhcgrm qug tghndh uhrgsafghtgs gh go gxtrdhcgrm qug tghndh uh
gstdbogeaiaghtm pgridhghtg gh Iáxaem hmgstdbogeaiaghtm pgridhghtg gh Iáxaem hm
rgemhmeafm jmridoightg.rgemhmeafm jmridoightg.
Gh idtgrad fgo aipugstm do vdomr dnrgndfm,Gh idtgrad fgo aipugstm do vdomr dnrgndfm,
sg rgdoazdh eagrtds imfajaedeamhgs pdrdsg rgdoazdh eagrtds imfajaedeamhgs pdrd
rgnuodr detavafdfgs rgodeamhdfds emhrgnuodr detavafdfgs rgodeamhdfds emh
sgrvaeams fanatdogs, dsé emim oms fgsgrvaeams fanatdogs, dsé emim oms fg
ahtgrigfadeaõh, qug aahtgrigfadeaõh, qug ahvmouerdh od mboandeaõhhvmouerdh od mboandeaõh
fg gjgetudr uhd rgtgheaõh fgo 4;;% fgofg gjgetudr uhd rgtgheaõh fgo 4;;% fgo
aipugstm do vdomr dnrgndfm.aipugstm do vdomr dnrgndfm.
Gh idtgrad fg aipugstm smbrg od rghtd, sgGh idtgrad fg aipugstm smbrg od rghtd, sg
imfajaedh ods tdsds fg rgtgheaõh dpoaedbogsimfajaedh ods tdsds fg rgtgheaõh dpoaedbogs
d ods pgrsmhds jésaeds qug mbtghndhd ods pgrsmhds jésaeds qug mbtghndh
ahnrgsms pmr detavafdfgs rgdoazdfds emh odahnrgsms pmr detavafdfgs rgdoazdfds emh od
ahtgrvgheaõh fg podtdjmrids tgehmoõnaeds, dahtgrvgheaõh fg podtdjmrids tgehmoõnaeds, d
jah fg gstdbogegr tdsds óhaeds pmr edfd tapmjah fg gstdbogegr tdsds óhaeds pmr edfd tapm
fg detavafdf rgdoazdfd, emh bdsg gh uhfg detavafdf rgdoazdfd, emh bdsg gh uh
emgjaeaghtg fg utaoafdf aipoéeatm gh edfdemgjaeaghtg fg utaoafdf aipoéeatm gh edfd
detavafdf.detavafdf.
Rgsdotd qug d pdrtar fgo 2;24, sg emhtgipodRgsdotd qug d pdrtar fgo 2;24, sg emhtgipod
uhd sdheaõh emhsastghtg gh go bomqugm gh gouhd sdheaõh emhsastghtg gh go bomqugm gh go
deegsm d oms satams qug edoajaqugh gh oddeegsm d oms satams qug edoajaqugh gh od
rgnuodeaõh dpoaedbog d ods podtdjmridsrgnuodeaõh dpoaedbog d ods podtdjmrids
tgehmoõnaeds fg rgjgrghead, y qug hmtgehmoõnaeds fg rgjgrghead, y qug hm
euipodh emh donuhds fg sus mboandeamhgseuipodh emh donuhds fg sus mboandeamhgs
jasedogs, go eudo sg rgdoazdréd d trdvás fg odsjasedogs, go eudo sg rgdoazdréd d trdvás fg ods
giprgsds fg tgogemiuhaedeamhgs,giprgsds fg tgogemiuhaedeamhgs,
gstdbogeaáhfmsg tdibaáh uhd sdheaõh pdrdgstdbogeaáhfmsg tdibaáh uhd sdheaõh pdrd
gstds óotaids gh edsm fg hm euipoar emh odgstds óotaids gh edsm fg hm euipoar emh od
ahstrueeaõh fg bomqugm rgjgrafd.ahstrueeaõh fg bomqugm rgjgrafd.
  
  
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[mr mtrm odfm, tdibaáh gh idtgrad fg[mr mtrm odfm, tdibaáh gh idtgrad fg
aipugstm smbrg od rghtd, sg imfaaipugstm smbrg od rghtd, sg imfajaed od tdsdjaed od tdsd
fg rgtgheaõh pdrd ahtgrgsgs pdndfms pmrfg rgtgheaõh pdrd ahtgrgsgs pdndfms pmr
ahtgnrdhtgs fgo sastgid jahdheagrm fgoahtgnrdhtgs fgo sastgid jahdheagrm fgo
4.6>% smbrg go edpatdo qug fá mrangh d oms4.6>% smbrg go edpatdo qug fá mrangh d oms
ahtgrgsgs, vanghtg gh 2;2;, do ;.1>% pdrdahtgrgsgs, vanghtg gh 2;2;, do ;.1>% pdrd
2;24. Ua bagh fae`d rgfueeaõh gh od tdsd fg2;24. Ua bagh fae`d rgfueeaõh gh od tdsd fg
rgtgheaõh rgsuotd gh oéhgd emh od satudeaõhrgtgheaõh rgsuotd gh oéhgd emh od satudeaõh
idermgemhõiaed fgo pdés, dóh hm omnrdidermgemhõiaed fgo pdés, dóh hm omnrd
rgemhmegr oms gjgetms fg od rgdoafdfrgemhmegr oms gjgetms fg od rgdoafdf
gemhõiaed, om qug prmvmedrä qug sandhgemhõiaed, om qug prmvmedrä qug sandh
gxastaghfm, pdrd od idymréd fggxastaghfm, pdrd od idymréd fg
emhtrabuyghtgs, rgtgheamhgs gh gxegsm.emhtrabuyghtgs, rgtgheamhgs gh gxegsm.
Oms emightdrams aheouafms gh gstms VõpaemsOms emightdrams aheouafms gh gstms Võpaems
Jasedogs smh nghgrdogs y hm pugfghJasedogs smh nghgrdogs y hm pugfgh
emhsafgrdrsg dpoaedbogs d edsmsemhsafgrdrsg dpoaedbogs d edsms
pdrtaeuodrgs, pugs sg fgsprghfgh fg uhpdrtaeuodrgs, pugs sg fgsprghfgh fg uh
dhäoasas emhegptudo fg ods imfajaedeamhgs, ydhäoasas emhegptudo fg ods imfajaedeamhgs, y
su aipdetm fgbg sgr dhdoazdfm pdrd edfdsu aipdetm fgbg sgr dhdoazdfm pdrd edfd
edsm pdrtaeuodr< dfaeamhdoightg, odsedsm pdrtaeuodr< dfaeamhdoightg, ods
ahquagtufgs dqué idhajgstdfds pugfgh hmahquagtufgs dqué idhajgstdfds pugfgh hm
sgr emipdrtafds pmr ods dutmrafdfgssgr emipdrtafds pmr ods dutmrafdfgs
dfiahastrdtavds m cufaeadogs.dfiahastrdtavdsm cufaeadogs.
Gh ods pänahds sanuaghtgs fg gstms VõpaemsGh ods pänahds sanuaghtgs fg gstms Võpaems
Jasedogs prgsghtdims hugstrms emightdramsJasedogs prgsghtdims hugstrms emightdrams
smbrg oms praheapdogs dspgetms fg ods ogygssmbrg oms praheapdogs dspgetms fg ods ogygs
qug jugrmh rgjmridfds.qug jugrmh rgjmridfds.
  
  
>>
OGQ FG AHNRGUMU FG ODOGQ FG AHNRGUMU FG OD
JGFGRDEAÕHJGFGRDEAÕH
Gstéiuoms JasedogsGstéiuoms Jasedogs
\Drt. 4:, OAJY\Drt. 4:, OAJY
Gh táriahms nghgrdogs, sg idhtaghgh omsGh táriahms nghgrdogs, sg idhtaghgh oms
gstéiuoms jasedogs qug sg vghédh dpoaedhfmgstéiuoms jasedogs qug sg vghédh dpoaedhfm
gh idtgrad fg aipugstm smbrg od rghtd ggh idtgrad fg aipugstm smbrg od rghtd g
aipugstm gspgeado smbrg prmfueeaõh yaipugstm gspgeado smbrg prmfueeaõh y
sgrvaeams, pmr om qug gh go prgsghtg hm sgsgrvaeams, pmr om qug gh go prgsghtg hm sg
emightdh dqugooms qug hm sujragrmhemightdh dqugooms qug hm sujragrmh
imfajaedeamhgs. [drd go gcgreaeam jasedo fgimfajaedeamhgs. [drd go gcgreaeam jasedo fg
2;24, ods imfajaedeamhgs gh idtgrad fg2;24, ods imfajaedeamhgs gh idtgrad fg
gstéiuoms jasedogs smh ods qug sg igheamhdhgstéiuoms jasedogs smh ods qug sg igheamhdh
gh go sanuaghtg dpdrtdfm.gh go sanuaghtg dpdrtdfm.
Gstéiuoms Jasedogs qug emhstatuygh ahnrgsmsGstéiuoms Jasedogs qug emhstatuygh ahnrgsms
deuiuodbogsdeuiuodbogs
\Drt. 4:, OAJY\Drt. 4:, OAJY
Ug dfaeamhd uh pärrdjm gh go drtéeuom qugUg dfaeamhd uh pärrdjm gh go drtéeuom qug
rgnuod oms gstéiuoms jasedogs prgvastms gh odrgnuod oms gstéiuoms jasedogs prgvastms gh od
Ogy fg Ahnrgsms fg od Jgfgrdeaõh qugOgy fg Ahnrgsms fg od Jgfgrdeaõh qug
gstdbogeg qug ástms fgbgräh sgrgstdbogeg qug ástms fgbgräh sgr
emhsafgrdfms emim ahnrgsms deuiuodbogsemhsafgrdfms emim ahnrgsms deuiuodbogs
pdrd gjgetms fgo aipugstm smbrg od rghtd, emhpdrd gjgetms fgo aipugstm smbrg od rghtd, emh
gxegpeaõh fgo gstéiuom dpoaedbog d odgxegpeaõh fgo gstéiuom dpoaedbog d od
ghdcghdeaõh fg oabrms, pgraõfaems y rgvastds.ghdcghdeaõh fg oabrms, pgraõfaems y rgvastds.
Emh gstd dfaeaõh, emh ahfgpghfghead fg qugEmh gstd dfaeaõh, emh ahfgpghfghead fg qug
go gstéiuom jasedo dpoaedbog d od prgstdeaõhgo gstéiuom jasedo dpoaedbog d od prgstdeaõh
gxeousavd fg sgrvaeams fg trdhspmrtggxeousavd fg sgrvaeams fg trdhspmrtg
tgrrgstrg póboaem y pravdfm fg edrnd mtgrrgstrg póboaem y pravdfm fg edrnd m
pdsdcg, dsé emim go turéstaem, dpoaedbog dpdsdcg, dsé emim go turéstaem, dpoaedbog d
dqugooms emhtrabuyghtgs qug utaoazdh od Rgfdqugooms emhtrabuyghtgs qug utaoazdh od Rgf
Hdeamhdo fg Dutmpastds fg Eumtd, yd sgHdeamhdo fg Dutmpastds fg Eumtd, yd sg
emhsafgrdbd emim uh ahnrgsm deuiuodbogemhsafgrdbd emim uh ahnrgsm deuiuodbog
pdrd gjgetms fgo aipugstm smbrg od rghtdpdrd gjgetms fgo aipugstm smbrg od rghtd
pdrd go gcgreaeam jasedo fg 2;24, go rgstm fgpdrd go gcgreaeam jasedo fg 2;24, go rgstm fg
oms gstéiuoms jasedogs tdibaáh sgrähoms gstéiuoms jasedogs tdibaáh sgräh
emhsafgrdfms emim ahnrgsms deuiuodbogsemhsafgrdfms emim ahnrgsms deuiuodbogs
pdrd gjgetms fgo aipugstm smbrg od rghtd, emhpdrd gjgetms fgo aipugstm smbrg od rghtd, emh
gxegpeaõh fgo gstéiuom sgôdodfm gh gogxegpeaõh fgo gstéiuom sgôdodfm gh go
pärrdjm dhtgramr.pärrdjm dhtgramr.
Ahtgrgsgs bdhedrams y bursätaogsAhtgrgsgs bdhedrams y bursätaogs
\Drt. 24, OAJY\Drt. 24, OAJY
[drd jahgs fgo aipugstm smbrg od rghtd sg[drd jahgs fgo aipugstm smbrg od rghtd sg
imfajaed od tdsd fg rgtgheaõh dhudo fgoimfajaed od tdsd fg rgtgheaõh dhudo fgo
4.67% do ;.1>% smbrg go imhtm fgo edpatdo4.67% do ;.1>% smbrg go imhtm fgo edpatdo
qug fá oundr do pdnm fg qug fá oundr do pdnm fg oms ahtgrgsgs, od eudooms ahtgrgsgs, od eudo
sgrä dpoaedbog d oms ahtgrgsgs qug sgdhsgrä dpoaedbog d oms ahtgrgsgs qug sgdh
pdndfms pmr ods ahstatueamhgs qug emipmhghpdndfms pmr ods ahstatueamhgs qug emipmhgh
go sastgid jahdheagrm igxaedhm.go sastgid jahdheagrm igxaedhm.
Go prmegfaiaghtm pdrd fgtgriahdr fg jmridGo prmegfaiaghtm pdrd fgtgriahdr fg jmrid
dhudo od tdsd fg rgtgheaõh dpoaedbog d fae`msdhudo od tdsd fg rgtgheaõh dpoaedbog d fae`ms
ahtgrgsgs emhtgipod tdsds y prgeams fgahtgrgsgs emhtgipod tdsds y prgeams fg
rgjgrghead fg vdomrgs póboaems y pravdfmsrgjgrghead fg vdomrgs póboaems y pravdfms
puboaedfpuboaedfms pmr go Bdhem fg ms pmr go Bdhem fg Iáxaem, dsé emimIáxaem, dsé emim
od ahjodeaõh gxpgraightdfd.od ahjodeaõh gxpgraightdfd.
  
  
00
EmhsafgrdiEmhsafgrdims qug, sa ms qug, sa bagh od rgfueeaõh gh bagh od rgfueeaõh gh odod
tdsd fg rgtgheaõh rgsuotd sgr dfgeudfd, dóhtdsd fg rgtgheaõh rgsuotd sgr dfgeudfd, dóh
hm dtaghfg d od rgdoafdf gemhm dtaghfg d od rgdoafdf gemhõiaed hõiaed fg od nrdhfg od nrdh
idymréd fg oms emhtrabuyghtgs d oms qug sgidymréd fg oms emhtrabuyghtgs d oms qug sg
ogs rgtaghg go aipugstm smbrg ogs rgtaghg go aipugstm smbrg od rghtd, om eudood rghtd, om eudo
medsamhdrä qug sandh gxastaghfm rgtgheamhgsmedsamhdrä qug sandh gxastaghfm rgtgheamhgs
gh gxegsm.gh gxegsm.
  
  
11
OGQ FG OGQ FG AI[WGUVM UMBRGAI[WGUVM UMBRG
OD RGHVDOD RGHVD
Ránaigh fg Ránaigh fg fmhdtdrfmhdtdradsads
dutmrazdfdsdutmrazdfds
D pgsdr fg ods erétaeds fg od D pgsdr fg ods erétaeds fg od smeagfdf eavao ysmeagfdf eavao y
oms ognasodfmrgs fg mpmsaeaõh, fgstdedh odsoms ognasodfmrgs fg mpmsaeaõh, fgstdedh ods
imfajaedeamhgs rgdoazdfds do ránaigh fg odsimfajaedeamhgs rgdoazdfds do ránaigh fg ods
fmhdtdrads dutmrazdfds, tdhtm pmr go fmhdtdrads dutmrazdfds, tdhtm pmr go aipdetmaipdetm
qug sg nghgrdrä pdrd quaghgs sg gheughtrdhqug sg nghgrdrä pdrd quaghgs sg gheughtrdh
dpoaedhfm fae`m ránaigh emim pmr go qugdpoaedhfm fae`m ránaigh emim pmr go qug
tghfräh ods imfajaedeatghfräh ods imfajaedeamhgs rgdoazdfds pdrd gomhgs rgdoazdfds pdrd go
uhavgrsm fg oms bghgjaeadrams qug smhuhavgrsm fg oms bghgjaeadrams qug smh
dtghfafms pmr ods ghtafdfgs djgetdfds.dtghfafms pmr ods ghtafdfgs djgetdfds.
Fgcdhfm fg odfm go aipdetm pmsatavm qugFgcdhfm fg odfm go aipdetm pmsatavm qug
nghgrdh ods detavafdfgs dotruastds qug rgdoanghgrdh ods detavafdfgs dotruastds qug rgdoazdzd
gstg gstg sgetmr sgetmr y y bdcm bdcm go go drnuightm drnuightm fg qugfg qug
donuhds fg gstds ghtafdfgs `dh utaoazdfm godonuhds fg gstds ghtafdfgs `dh utaoazdfm go
ránaigh pdrd tmidr vghtdcds ahfgbafds ghránaigh pdrd tmidr vghtdcds ahfgbafds gh
pgrcuaeam fgo Jasem Jgfgrdo, go Gcgeutavmpgrcuaeam fgo Jasem Jgfgrdo, go Gcgeutavm
prmpusm y go Emhnrgsm dprmbõ edibams qugprmpusm y go Emhnrgsm dprmbõ edibams qug
djgetdräh nrdvgightg do sgetmr fg odsdjgetdräh nrdvgightg do sgetmr fg ods
fmhdtdrads, fgsemhmeaghfm qug gstg sgetmrfmhdtdrads, fgsemhmeaghfm qug gstg sgetmr
`d vghafm emodbmrdhfm emh, y gh medsamhgs`d vghafm emodbmrdhfm emh, y gh medsamhgs
supoaghfm, do Nmbagrhm Jgfgrdo gh sussupoaghfm, do Nmbagrhm Jgfgrdo gh sus
odbmrgs fg dpmym d oms sgetmrgs ighmsodbmrgs fg dpmym d oms sgetmrgs ighms
jdvmrgeafms.jdvmrgeafms.
Rgsdotd qug sg rgdoaegh gstds imfajaedeamhgsRgsdotd qug sg rgdoaegh gstds imfajaedeamhgs
gh vgz fg emibdtar fg idhgrd fargetd d odsgh vgz fg emibdtar fg idhgrd fargetd d ods
ghtafdfgs qug sg emhsafgrg `dydh dbusdfmghtafdfgs qug sg emhsafgrg `dydh dbusdfm
fg gstg ránaigh emh ods `grrdiaghtds emhfg gstg ránaigh emh ods `grrdiaghtds emh
qug eughtdh ods dutmrafdfgs jasedogs ghqug eughtdh ods dutmrafdfgs jasedogs gh
idtgrad fg jasedoazdeaõh y pgrsgeueaõh fgidtgrad fg jasedoazdeaõh y pgrsgeueaõh fg
fgoatms, djgetdhfm od omdbog odbmr fgo sgetmrfgoatms, djgetdhfm od omdbog odbmr fgo sgetmr
jaodhtrõpaem fgo pdés, do gstdbogegrog iäsjaodhtrõpaem fgo pdés, do gstdbogegrog iäs
edrnds, oaiatdr sus mpgrdeamhgs fgedrnds, oaiatdr sus mpgrdeamhgs fg
dutmnghgrdeaõh fg rgeursms g, aheousavg,dutmnghgrdeaõh fg rgeursms g, aheousavg,
busedr su oaquafdeaõh, hm mbstdhtg qug hmbusedr su oaquafdeaõh, hm mbstdhtg qug hm
rgdoaegh hahnuhd detavafdf aoéeatd. Drgdoaegh hahnuhd detavafdf aoéeatd. D
emhtahudeaõh, sg emightdh oms edibams iäsemhtahudeaõh, sg emightdh oms edibams iäs
sanhajaedtavms d gstg ránaigh.sanhajaedtavms d gstg ránaigh.
Mrndhasims emmpgrdtavms fg ahtgnrdeaõhyMrndhasims emmpgrdtavms fg ahtgnrdeaõh y
rgprgsghtdeaõhrgprgsghtdeaõh
\Drt. >1 jrdeeaõh ZAAA, OAURY\Drt. >1 jrdeeaõh ZAAA, OAURY
Ug aheouyg d oms mrndhasims emmpgrdtavms fgUg aheouyg d oms mrndhasims emmpgrdtavms fg
ahtgnrdeaõh y rgprgsghtdeaõahtgnrdeaõh y rgprgsghtdeaõh d qug sg rgjagrgh d qug sg rgjagrg
od Ogy Nghgrdo fg Umeagfdfgs Emmpgrdtavdsod Ogy Nghgrdo fg Umeagfdfgs Emmpgrdtavds
emim pgrsmhds imrdogs hm emhtrabuyghtgsemim pgrsmhds imrdogs hm emhtrabuyghtgs
fgo aipugstm smbrg od rghtd gh táriahms fgofgo aipugstm smbrg od rghtd gh táriahms fgo
Vétuom AAA fg od Ogy fgo Aipugstm smbrg odVétuom AAA fg od Ogy fgo Aipugstm smbrg od
Rghtd, satudeaõh qug detudoightg sgRghtd, satudeaõh qug detudoightg sg
gheughtrd prgvastd gh od Rgsmoueaõhgheughtrd prgvastd gh od Rgsmoueaõh
Iasegoähgd Jasedo.Iasegoähgd Jasedo.
[grsmhds imrdogs qug fgbgh emhtdr emh[grsmhds imrdogs qug fgbgh emhtdr emh
dutmrazdeaõh pdrd rgeabar fmhdtavmsdutmrazdeaõh pdrd rgeabar fmhdtavms
fgfueabogsfgfueabogs
\Drt. >1 jrdeeamhgs PA, PZAA, PAP y PP, OAURY\Drt. >1 jrdeeamhgs PA, PZAA, PAP y PP, OAURY
Gh oundr fg prmimvgr od detavafdf fg odsGh oundr fg prmimvgr od detavafdf fg ods
smeagfdfgs m dsmeadeamhgs fg edräetgr eavaosmeagfdfgs m dsmeadeamhgs fg edräetgr eavao
qug mtmrnugh bgeds< qug sg fgfaqugh d odqug mtmrnugh bgeds< qug sg fgfaqugh d od
ahvgstandeaõh eaghtéjaed m tgehmoõnaed y gstáhahvgstandeaõh eaghtéjaed m tgehmoõnaed y gstáh
  
  
4;4;
ahseratds gh go Rgnastrm Hdeamhdo fgahseratds gh go Rgnastrm Hdeamhdo fg
Ahstatueamhgs Eaghtéjaeds y Vgehmoõnaeds< qugAhstatueamhgs Eaghtéjaeds y Vgehmoõnaeds< qug
sg fgfaqugh d od ahvgstandeaõh msg fgfaqugh d od ahvgstandeaõh m
prgsgrvdeaõh fg od jomrd m jduhd saovgstrg,prgsgrvdeaõh fg od jomrd m jduhd saovgstrg,
tgrrgstrg m deuätaed fghtrm fg ods ärgdstgrrgstrg m deuätaed fghtrm fg ods ärgds
ngmnräjaeds fgjahafds pmr go Ugrvaeam fgngmnräjaeds fgjahafds pmr go Ugrvaeam fg
Dfiahastrdeaõh Vrabutdrad, dsé emim pdrdDfiahastrdeaõh Vrabutdrad, dsé emim pdrd
prmimvgr ghtrg od pmbodeaõh od prgvgheaõh yprmimvgr ghtrg od pmbodeaõh od prgvgheaõh y
emhtrmo fg od emhtdiahdeaõh fgo dnud, fgoemhtrmo fg od emhtdiahdeaõh fgo dnud, fgo
darg y fgo sugom, od prmtgeeaõh do dibaghtg ydarg y fgo sugom, od prmtgeeaõh do dibaghtg y
od prgsgrvdeaõh y rgstdurdeaõh fgo gquaoabramod prgsgrvdeaõh y rgstdurdeaõh fgo gquaoabram
gemoõnaem< m qug sg fgfaqugh d odgemoõnaem< m qug sg fgfaqugh d od
rgprmfueeaõh fg gspgeags gh prmtgeeaõh yrgprmfueeaõh fg gspgeags gh prmtgeeaõh y
pgoanrm fg gxtaheaõh, dsé emim d odpgoanrm fg gxtaheaõh, dsé emim d od
emhsgrvdeaõh fg su `äbatdt, pmr omsemhsgrvdeaõh fg su `äbatdt, pmr oms
bghgjaeams qug prmfuegh d od smeagfdf y dobghgjaeams qug prmfuegh d od smeagfdf y do
ghtmrhm, sg gstdbogeg qug fae`ds ghtafdfgsghtmrhm, sg gstdbogeg qug fae`ds ghtafdfgs
sõom pmfräh trabutdr gh táriahms fgo Vétuomsõom pmfräh trabutdr gh táriahms fgo Vétuom
AAA fg od Ogy fgo Aipugstm smbrg od Rghtd saAAA fg od Ogy fgo Aipugstm smbrg od Rghtd sa
eughtdh emh dutmrazdeaõh pdrd rgeabareughtdh emh dutmrazdeaõh pdrd rgeabar
fmhdtavms fgfueabogs fgo aipugstm smbrg odfmhdtavms fgfueabogs fgo aipugstm smbrg od
rghtd.rghtd.
Fg emhjmriafdf emh om gstdbogeafm gh odsFg emhjmriafdf emh om gstdbogeafm gh ods
faspmsaeamhgs trdhsatmrads, dqugoodsfaspmsaeamhgs trdhsatmrads, dqugoods
smeagfdfgs m dsmeadeamhgs qug fgsdrrmooghsmeagfdfgs m dsmeadeamhgs qug fgsdrrmoogh
detavafdfgs fg ods emiprghfafds gh godetavafdfgs fg ods emiprghfafds gh go
pärrdjm dhtgramr y hm eughtgh emhpärrdjm dhtgramr y hm eughtgh emh
dutmrazdeaõh pdrd rgeabar fmhdtavmsdutmrazdeaõh pdrd rgeabar fmhdtavms
fgfueabogs fgo aipugstm smbrg od rghtd,fgfueabogs fgo aipugstm smbrg od rghtd,
tghfräh `dstd go 5; fg cuham fg 2;24 pdrdtghfräh `dstd go 5; fg cuham fg 2;24 pdrd
mbtghgr od dutmrazdeaõh emrrgspmhfaghtg< hmmbtghgr od dutmrazdeaõh emrrgspmhfaghtg< hm
mbstdhtg goom, fgtgriahdräh go rgidhtgmbstdhtg goom, fgtgriahdräh go rgidhtg
fastrabuabog nghgrdfm do 54 fg faeagibrg fgfastrabuabog nghgrdfm do 54 fg faeagibrg fg
2;22;2; gh ; gh oms táriahoms táriahms fgo Vétuom AAA fg od Ogms fgo Vétuom AAA fg od Ogyy
fgo Aipugstm smbrg od Rghtd y sus smeams gfgo Aipugstm smbrg od Rghtd y sus smeams g
ahtgnrdhtgs deuiuodräh go rgidhghtg qugahtgnrdhtgs deuiuodräh go rgidhghtg qug
gstds pgrsmhds imrdogs ogs ghtrgnugh ghgstds pgrsmhds imrdogs ogs ghtrgnugh gh
gjgetavm m gh baghgs. Ua hm mbtaghgh odgjgetavm m gh baghgs. Ua hm mbtaghgh od
dutmrazdeaõh d od jge`d gh qug od rgjmriddutmrazdeaõh d od jge`d gh qug od rgjmrid
ghtrg gh vanmr, ghtrg gh vanmr, fgbgräh trabutdr gh táriahmsfgbgräh trabutdr gh táriahms
fgo Vétuom AA fg od Ogy fgo Aipugstm smbrg odfgo Vétuom AA fg od Ogy fgo Aipugstm smbrg od
Rghtd pmr tmfm go gcgreaeam.Rghtd pmr tmfm go gcgreaeam.  
Ods prmpads faspmsaeamhgs trdhsatmradsOds prmpads faspmsaeamhgs trdhsatmrads
gstdbogegh qug ods rgjmrids d ods jrdeeamhgsgstdbogegh qug ods rgjmrids d ods jrdeeamhgs
sgôdodfds ghtrdräh gh vanmr d pdrtar fgo 4»sgôdodfds ghtrdräh gh vanmr d pdrtar fgo 4»
fg cuoam fg 2;24.fg cuoam fg 2;24.  
Emiprmbdeaõh fg grmndeamhgsEmiprmbdeaõh fg grmndeamhgs  
\Drt. >1, sgnuhfm pärrdjm, OAURY\Drt. >1, sgnuhfm pärrdjm, OAURY
Ug goaiahd od gxegpeaõh qug detudoightgUg goaiahd od gxegpeaõh qug detudoightg
gxastg pdrd qug ods fmhdtdrads dutmrazdfdsgxastg pdrd qug ods fmhdtdrads dutmrazdfds
hm tghndh qug emhsafgrdr emim rgidhghtghm tghndh qug emhsafgrdr emim rgidhghtg
fastrabuabog ‟jaetm’ sucgtm do pdnm fgofastrabuabog ‟jaetm’ sucgtm do pdnm fgo
aipugstm smbrg od rgaipugstm smbrg od rghtdhtd, ods grmndeamhgs qug, ods grmndeamhgs qug
hm gstáh dipdrdfds emh emiprmbdhtgshm gstáh dipdrdfds emh emiprmbdhtgs
jasedogs m qug hm sg oaquafgh emh e`gqug,jasedogs m qug hm sg oaquafgh emh e`gqug,
trdhsjgrghead bdhedrad, imhgfgrmtrdhsjgrghead bdhedrad, imhgfgrm
gogetrõhaem, tdrcgtd fg eráfatm, tdrcgtd fggogetrõhaem, tdrcgtd fg eráfatm, tdrcgtd fg
fábatm m tdrcgtd fg sgrvaeams sa odfábatm m tdrcgtd fg sgrvaeams sa od
emhtrdprgstdeaõh gxegfg fg $2,;;; pgsms.emhtrdprgstdeaõh gxegfg fg $2,;;; pgsms.
Gstd goaiahdeaõh gs fgsdjmrtuhdfd pugsGstd goaiahdeaõh gs fgsdjmrtuhdfd pugs
fgsemhmeg qug `dy odbmrgs dutmrazdfds qugfgsemhmeg qug `dy odbmrgs dutmrazdfds qug
sg rgdoazdh gh zmhds qug edrgegh fgsg rgdoazdh gh zmhds qug edrgegh fg
jdeaoafdfgs pdrd euipoar emh goom, emim gs gojdeaoafdfgs pdrd euipoar emh goom, emim gs go
edsm fg ods qug rgdoazdh detavafdfgs fgedsm fg ods qug rgdoazdh detavafdfgs fg
fgsdrrmoom smeado gh zmhds dogcdfds fg odsfgsdrrmoom smeado gh zmhds dogcdfds fg ods
ärgds urbdhds m gh zmhds fg fgsdstrg, om ärgds urbdhds m gh zmhds fg fgsdstrg, om qugqug
fajaeuotdrä qug sandh oogvdhfm d edbm tdogsfajaeuotdrä qug sandh oogvdhfm d edbm tdogs
detavafdfgs.detavafdfgs.
  
  
4444
[árfafd fg dutmrazdeaõh pdrd rgeabar[árfafd fg dutmrazdeaõh pdrd rgeabar
fmhdtavms fgfueabogsfmhdtavms fgfueabogs
\Drt. 0;, OAURY\Drt. 0;, OAURY
Ug gstdbogeg qug ods pgrsmhds imrdogs y omsUg gstdbogeg qug ods pgrsmhds imrdogs y oms
jafgaemiasms dutmrazdfms pdrd rgeabarjafgaemiasms dutmrazdfms pdrd rgeabar
fmhdtavms fgfueabogs fgo aipugstm smbrg odfmhdtavms fgfueabogs fgo aipugstm smbrg od
rghtd pgrfgräh su dutmrazdeaõh gh edsm fgrghtd pgrfgräh su dutmrazdeaõh gh edsm fg
qug mbtghndh ahnrgsms pmr detavafdfgsqug mbtghndh ahnrgsms pmr detavafdfgs
fastahtds d oms jahgs pdrd oms qug jugrmhfastahtds d oms jahgs pdrd oms qug jugrmh
dutmrazdfms pdrd rgeabar fmhdtavms gh uhdutmrazdfms pdrd rgeabar fmhdtavms gh uh
pmreghtdcg idymr do 7;% fgo tmtdo fg omspmreghtdcg idymr do 7;% fgo tmtdo fg oms
ahnrgsms fgo gcgreaeam jasedo. Gstd dfaeaõh gsahnrgsms fgo gcgreaeam jasedo. Gstd dfaeaõh gs
ahemhsastghtg emh ods rgnods y oahgdiaghtmsahemhsastghtg emh ods rgnods y oahgdiaghtms
detudogs, d trdvás fg oms eudogs yd sgdetudogs, d trdvás fg oms eudogs yd sg
gstdbogeg uh ránaigh gspgeado gh edsm fggstdbogeg uh ránaigh gspgeado gh edsm fg
gxegfgr oms oéiatgs gstdbogeafms, emhsastghtggxegfgr oms oéiatgs gstdbogeafms, emhsastghtgpraheapdoightg gh qug ods fmhdtdradspraheapdoightg gh qug ods fmhdtdrads
dutmrazdfds qug mbtghndh mtrms ahnrgsms ghdutmrazdfds qug mbtghndh mtrms ahnrgsms gh
gxegsm fgbgräh pdndr go aipugstm smbrg odgxegsm fgbgräh pdndr go aipugstm smbrg od
rghtd emrrgspmhfaghtg smbrg fae`msrghtd emrrgspmhfaghtg smbrg fae`ms
ahnrgsms.ahnrgsms.
Fdfm qug od imfajaedeaõh sg rgjagrg d omsFdfm qug od imfajaedeaõh sg rgjagrg d oms
ahnrgsms pmr detavafdfgs fastahtds d oms jahgsahnrgsms pmr detavafdfgs fastahtds d oms jahgs
pdrd oms qug jugrmh dutmrazdfms, sg fgbgräpdrd oms qug jugrmh dutmrazdfms, sg fgbgrä
rgvasdr d fgtdoog od satudeaõh pdrtaeuodr fgrgvasdr d fgtdoog od satudeaõh pdrtaeuodr fg
edfd ghtafdf yd qug gh od idymréd fg omsedfd ghtafdf yd qug gh od idymréd fg oms
edsms, ods fmhdtdrads dutmrazdfds oogvdh dedsms, ods fmhdtdrads dutmrazdfds oogvdh d
edbm detavafdfgs qug, sa bagh hm aipoaedh odedbm detavafdfgs qug, sa bagh hm aipoaedh od
rgdoazdeaõh fg ods detavafdfgs fargetdightgrgdoazdeaõh fg ods detavafdfgs fargetdightg
rgqugrafds pdrd doedhzdr oms jahgs qug jugrmhrgqugrafds pdrd doedhzdr oms jahgs qug jugrmh
dutmrazdfms pmr go Ugrvaeam fgdutmrazdfms pmr go Ugrvaeam fg
Dfiahastrdeaõh Vrabutdrad, smh oéeatds gDfiahastrdeaõh Vrabutdrad, smh oéeatds g
ahfaspghsdbogs pdrd nghgrdr oms ahnrgsmsahfaspghsdbogs pdrd nghgrdr oms ahnrgsms
hgegsdrams pdrd pmfgr doedhzdr fae`ms jahgs.hgegsdrams pdrd pmfgr doedhzdr fae`ms jahgs.
Dfaeamhdoightg, sg gstdbogeg qug sa fghtrmDfaeamhdoightg, sg gstdbogeg qug sa fghtrm
fg oms fmeg igsgs sanuaghtgs d od fg oms fmeg igsgs sanuaghtgs d od párfafd fgpárfafd fg
od dutmrazdeaõh gh eugstaõh hm sg mbtaghgod dutmrazdeaõh gh eugstaõh hm sg mbtaghg
hugvdightg fae`d dutmrazdeaõh, od ghtafdfhugvdightg fae`d dutmrazdeaõh, od ghtafdf
fg qug sg trdtg fgbgrä fgstahdr tmfm sufg qug sg trdtg fgbgrä fgstahdr tmfm su
pdtraimham d mtrd fmhdtdrad dutmrazdfd pdrdpdtraimham d mtrd fmhdtdrad dutmrazdfd pdrd
rgeabar fmhdtavms fgfueabogs.rgeabar fmhdtavms fgfueabogs.
Gh praheapam, om dhtgramr aipoaed qug odsGh praheapam, om dhtgramr aipoaed qug ods
mrndhazdeamhgs qug pagrfdh su dutmrazdeaõhmrndhazdeamhgs qug pagrfdh su dutmrazdeaõh
pdrd rgeabar fmhdtavms fgfueabogs pmr odpdrd rgeabar fmhdtavms fgfueabogs pmr od
rdzõh gh emightm pugfgh mbtghgrrdzõh gh emightm pugfgh mbtghgr
hugvdightg fae`d dutmrazdeaõh fghtrm fgohugvdightg fae`d dutmrazdeaõh fghtrm fgo
igheamhdfm podzm fg fmeg igsgs. Uahigheamhdfm podzm fg fmeg igsgs. Uah
gibdrnm, om dhtgramr sg emhtrdpmhg emh omgibdrnm, om dhtgramr sg emhtrdpmhg emh om
sgôdodfm gh uhd fg ods edusdogs fgsgôdodfm gh uhd fg ods edusdogs fg
rgvmedeaõh qug tdibaáh sg dfaeamhdh d od Ogyrgvmedeaõh qug tdibaáh sg dfaeamhdh d od Ogy
fgo Aipugstm smbrg od Rghtd, od eudofgo Aipugstm smbrg od Rghtd, od eudo
emhtgipod qug ods mrndhazdeamhgs euydemhtgipod qug ods mrndhazdeamhgs euyd
dutmrazdeaõh sg rgvmqug gh uhd medsaõh pmrdutmrazdeaõh sg rgvmqug gh uhd medsaõh pmr
ghemhtrdrsg gh go supugstm gh go qug sgghemhtrdrsg gh go supugstm gh go qug sg
mbtghndh ahnrgsms pmr detavafdfgs fastahtdsmbtghndh ahnrgsms pmr detavafdfgs fastahtds
d oms jahgs pdrd oms qug jugrmh dutmrazdfmsd oms jahgs pdrd oms qug jugrmh dutmrazdfms
pdrd rgeabar fmhdtavms idymrgs do 7;% fg omspdrd rgeabar fmhdtavms idymrgs do 7;% fg oms
ahnrgsms tmtdogs, hm pmfräh mbtghgrahnrgsms tmtdogs, hm pmfräh mbtghgr
hugvdightg fae`d dutmrazdeaõh y fgbgrähhugvdightg fae`d dutmrazdeaõh y fgbgräh
fgstahdr su pdtraimham d mtrd fmhdtdradfgstahdr su pdtraimham d mtrd fmhdtdrad
dutmrazdfd, om qug ergd uhd emhtrdfaeeadutmrazdfd, om qug ergd uhd emhtrdfaeeaõh fgõh fg
hmrids qug sgréd fgsgdbog qug jugrdhmrids qug sgréd fgsgdbog qug jugrd
deodrdfd pmr ods dutmrafdfgs pdrd sudeodrdfd pmr ods dutmrafdfgs pdrd su
dpoaedeaõh.dpoaedeaõh.
  
  
4242
Fgstahm fgo pdtraimhamFgstahm fgo pdtraimham  
\Drt. 02 jrdeeaõh AZ, Z y ZA, OAURY\Drt. 02 jrdeeaõh AZ, Z y ZA, OAURY
Ug dfaeamhdh igedhasims fg emhtrmo pdrdUg dfaeamhdh igedhasims fg emhtrmo pdrd
dergfatdr qug oms fmhdtavms sg utaoazdhdergfatdr qug oms fmhdtavms sg utaoazdh
gxeousavdightg gh oms jahgs pdrd oms quggxeousavdightg gh oms jahgs pdrd oms qug
jugrmh dutmrazdfds pdrd rgeabar fmhdtavms,jugrmh dutmrazdfds pdrd rgeabar fmhdtavms,
emim oms qug sg oastdh d emhtahudeaõh3emim oms qug sg oastdh d emhtahudeaõh3
--   Fgstahdr od tmtdoafdf fg sus detavms d omsFgstahdr od tmtdoafdf fg sus detavms d oms
jahgs pdrd oms qjahgs pdrd oms qug jugrmh dutmrazdfds pdrdug jugrmh dutmrazdfds pdrd
rgeabar fmhdtavms fgfueabogs fg aipugstmrgeabar fmhdtavms fgfueabogs fg aipugstm
smbrg od rghtd, supugstm qugsmbrg od rghtd, supugstm qug
igfuodrightg sg ghemhtrdbd prgvastm ghigfuodrightg sg ghemhtrdbd prgvastm gh
od Rgsmoueaõh Iasegoähgd Jasedo< sahod Rgsmoueaõh Iasegoähgd Jasedo< sah
gibdrnm, d`mrd sg aheouyg gh od prmpadgibdrnm, d`mrd sg aheouyg gh od prmpad
Ogy fgo Aipugstm smbrg od Rghtd.Ogy fgo Aipugstm smbrg od Rghtd.  
--   Gh oms edsms fg rgvmedeaõh fg odGh oms edsms fg rgvmedeaõh fg od
dutmrazdeaõh m eudhfm su vanghead `dyddutmrazdeaõh m eudhfm su vanghead `dyd
emheouafm y hm sg `dyd mbtghafmemheouafm y hm sg `dyd mbtghafm
hugvdightg m rghugvdightg m rghmvhmvdfm od dfm od iasiiasid fghtrmd fghtrm
fg uh podzm fg fmeg igsgs, od fmhdtdradfg uh podzm fg fmeg igsgs, od fmhdtdrad
dutmrazdfd fgbgrä fgstahdr od tmtdoafdf fgdutmrazdfd fgbgrä fgstahdr od tmtdoafdf fg
su pdtraimham d mtrds ghtafdfgssu pdtraimham d mtrds ghtafdfgs
dutmrazdfds pdrd rgeabar fmhdtavmsdutmrazdfds pdrd rgeabar fmhdtavms
fgfueabogs fgo aipugstm smbrg od rghtd,fgfueabogs fgo aipugstm smbrg od rghtd,
quaghgs fgbgräh giatar go emiprmbdhtgquaghgs fgbgräh giatar go emiprmbdhtg
jasedo emrrgspmhfaghtg pmr emhegptm fgjasedo emrrgspmhfaghtg pmr emhegptm fg
fmhdtavm, go eudo hm sgrä fgfueabog pdrdfmhdtavm, go eudo hm sgrä fgfueabog pdrd
gjgetms fgo aipugstm smbrg od rghtd.gjgetms fgo aipugstm smbrg od rghtd.  
--   Ods fmhdtdrads qug pagrfdh suOds fmhdtdrads qug pagrfdh su
dutmrazdeaõh hm pmfräh emhtahudrdutmrazdeaõh hm pmfräh emhtahudr
rgdoazdhfm sus detavafdfgs ha idhtghgrrgdoazdhfm sus detavafdfgs ha idhtghgr
oms detavms qug ahtgnrdh su pdtraimham.oms detavms qug ahtgnrdh su pdtraimham.  
Edbg prgeasdr qug od prgsghtg rgjmrid pdrtgEdbg prgeasdr qug od prgsghtg rgjmrid pdrtg
fg od bdsg fg qug go ‟pdtraimham’ fg odsfg od bdsg fg qug go ‟pdtraimham’ fg ods
fmhdtdrads fgbg fgjaharsg ghfmhdtdrads fgbg fgjaharsg gh
emrrgspmhfghead do emhegptm gstdbogeafm ghemrrgspmhfghead do emhegptm gstdbogeafm gh
ods Hmrids fg Ahjmrideaõh Jahdheagrdods Hmrids fg Ahjmrideaõh Jahdheagrd
dpoaedbogs d ods ghtafdfgs emh jahgs hmdpoaedbogs d ods ghtafdfgs emh jahgs hm
ouerdtavms.ouerdtavms.
Fg anudo jmrid sg gstdbogeg go supugstm fgFg anudo jmrid sg gstdbogeg go supugstm fg
edhegodeaõh fg od dutmrazdeaõh pdrd rgeabaredhegodeaõh fg od dutmrazdeaõh pdrd rgeabar
fmhdtavms fgfueabogs fgo aipugstm smbrg odfmhdtavms fgfueabogs fgo aipugstm smbrg od
rghtd emim emhsgeugrghtd emim emhsgeughead fg qug sg prgsghtghead fg qug sg prgsghtg
uhd smoaeatuf fg edhegodeaõh fg oduhd smoaeatuf fg edhegodeaõh fg od
dutmrazdeaõh mbtghafd pmr pdrtg fg odsdutmrazdeaõh mbtghafd pmr pdrtg fg ods
fmhdtdrads dutmrazdfds.fmhdtdrads dutmrazdfds.  
Dsaiasim, sg dfaeamhd od mboandeaõh fgDsaiasim, sg dfaeamhd od mboandeaõh fg
idhtghgr d faspmsaeaõh fgo póboaem ghidhtghgr d faspmsaeaõh fgo póboaem gh
nghgrdo od ahjmrideaõh rgnghgrdo od ahjmrideaõh rgodtavd do pdtraimhamodtavd do pdtraimham
fg ods fmhdtdrads dutmrazdfds.fg ods fmhdtdrads dutmrazdfds.  
Egrtajaedeaõh pEgrtajaedeaõh pdrd fmhdtdraddrd fmhdtdradss  
\Drt. 02-Vgr, OA\Drt. 02-Vgr, OAURYURY
Ug fgrmnd od faspmsaeaõh qug gstdbogeéd qugUg fgrmnd od faspmsaeaõh qug gstdbogeéd qug
ods fmhdtdrads dutmrazdfds pmfédh mptdr pmrods fmhdtdrads dutmrazdfds pmfédh mptdr pmr
sucgtdrsg d uh prmegsucgtdrsg d uh prmegfaiaghtm fg egrtajaedeaõhfaiaghtm fg egrtajaedeaõh
fgo euipoaiaghtm fg mboandeamhgs jasedogs, fgfgo euipoaiaghtm fg mboandeamhgs jasedogs, fg
trdhspdrghead y fg gvdoudeaõhfg aipdetmtrdhspdrghead y fg gvdoudeaõh fg aipdetm
smeado fgbafm d qug, sgnóh od smeado fgbafm d qug, sgnóh od GxpGxpmsaeaõh fgmsaeaõh fg
Imtavms, fae`d egrtajaedeaõh aipoaed uh emstmImtavms, fae`d egrtajaedeaõh aipoaed uh emstm
gemhõiaem qug ods fmhdtdrads dutmrazdfdsgemhõiaem qug ods fmhdtdrads dutmrazdfds
gstaidh gogvdfm, duhdfm do ̀ ge`m fg qug hmgstaidh gogvdfm, duhdfm do ̀ ge`m fg qug hm
gxastgh sujaeaghtgs ghtafdfgs egrtajaedfmrds,gxastgh sujaeaghtgs ghtafdfgs egrtajaedfmrds,
pmr om qug pmr om qug od mbtgheaõh fg fae`d egrtajaedeaõhod mbtgheaõh fg fae`d egrtajaedeaõh
rgsuotd emipoaedfd y emstmsd.rgsuotd emipoaedfd y emstmsd.
  
  
4545
Edusdogs fg rgvmedeaõh fg od dutmrazdeaõhEdusdogs fg rgvmedeaõh fg od dutmrazdeaõh
 pdrd rg pdrd rgeabar eabar fmhdtfmhdtavmsavms
\Drt. 02 Tuätgr, OAURY\Drt. 02 Tuätgr, OAURY
Ug dfaeamhdh d od Ogy fgo Aipugstm smbrg odUg dfaeamhdh d od Ogy fgo Aipugstm smbrg od
Rghtd donuhds fg ods edusdogs y goRghtd donuhds fg ods edusdogs y go
prmegfaiaghtm fg rgvmedeaõh fg odprmegfaiaghtm fg rgvmedeaõh fg od
dutmrazdeaõh pdrd rgeabar fmhdtavmsdutmrazdeaõh pdrd rgeabar fmhdtavms
fgfueabogs fgo aipugstm smbrg od rghtdfgfueabogs fgo aipugstm smbrg od rghtd
detudoightg prgvastms gh od Rgsmoueaõhdetudoightg prgvastms gh od Rgsmoueaõh
Iasegoähgd Jasedo emh donuhms dcustgs< pmrIasegoähgd Jasedo emh donuhms dcustgs< pmr
gcgipom, go emhsastghtg gh qug sg rgqugrédgcgipom, go emhsastghtg gh qug sg rgqugréd
rgaheafghead (2 dôms sgnuafms) gh od miasaõhrgaheafghead (2 dôms sgnuafms) gh od miasaõh
fg prgsghtdr go ahjmrig fg trdhspdrghead,fg prgsghtdr go ahjmrig fg trdhspdrghead,
usm y fgstahm fg oms fmhdtavms y odusm y fgstahm fg oms fmhdtavms y od
fgeodrdeaõh dhudo fg ahnrgsms y grmndeamhgs,fgeodrdeaõh dhudo fg ahnrgsms y grmndeamhgs,
y d`mrd bdstdrä emh uhd smod miasaõh pdrdy d`mrd bdstdrä emh uhd smod miasaõh pdrd
pgrfgr go gstdtus fg fmhdtdrad dutmrazdfd.pgrfgr go gstdtus fg fmhdtdrad dutmrazdfd.
Vdibaáh sg dfaeamhd emim uhd edusdo fgVdibaáh sg dfaeamhd emim uhd edusdo fg
rgvmedeaõh go supugstm fg mbtghgr ahnrgsmsrgvmedeaõh go supugstm fg mbtghgr ahnrgsms
pmr detavafdfgs fastahtds d oms jahgs pdrd omspmr detavafdfgs fastahtds d oms jahgs pdrd oms
qug jugrmh dutmrazdfms pdrd rgeabarqug jugrmh dutmrazdfms pdrd rgeabar
fmhdtavms idymrgs do 7;% fgo tmtdo fg omsfmhdtavms idymrgs do 7;% fgo tmtdo fg oms
ahnrgsms, iasid qug jug emightdfmahnrgsms, iasid qug jug emightdfm
prgvadightg. Uah gibdrnm, gxastg uhdprgvadightg. Uah gibdrnm, gxastg uhd
emhtrdfaeeaõh fgbafm d qug sa sg fagrd tdoemhtrdfaeeaõh fgbafm d qug sa sg fagrd tdo
edusdo, sg prgvá pmr uhd pdrtg qug sgedusdo, sg prgvá pmr uhd pdrtg qug sg
pgrfgrä od dutmrazdeaõh pdrd sgr fmhdtdradpgrfgrä od dutmrazdeaõh pdrd sgr fmhdtdrad
dutmrazdfd, gxastaghfm od pmsabaoafdf fgdutmrazdfd, gxastaghfm od pmsabaoafdf fg
mbtghgrsg fg hugvm fghtrm fg oms 42 igsgsmbtghgrsg fg hugvm fghtrm fg oms 42 igsgs
sanuaghtgs< gh tdhtm qug gh ods edusdogs fgsanuaghtgs< gh tdhtm qug gh ods edusdogs fg
rgvmedeaõh sg ahfaed qug hm `dbrärgvmedeaõh sg ahfaed qug hm `dbrä
pmsabaoafdf fg mbtghgr uhd hugvdpmsabaoafdf fg mbtghgr uhd hugvd
dutmrazdeaõh, om qug rgsuotd gh uhddutmrazdeaõh, om qug rgsuotd gh uhd
emhtrdfaeeaõh fg hmrids qug gspgrdrédimsemhtrdfaeeaõh fg hmrids qug gspgrdrédims
sgd deodrdfd igfadhtg rgnodssgd deodrdfd igfadhtg rgnods
dfiahastrdtavds.dfiahastrdtavds.
Dsaiasim, fghtrm fg ods edusdogs fgDsaiasim, fghtrm fg ods edusdogs fg
rgvmedeaõh sg rgdoazdh donuhds prgeasamhgsrgvmedeaõh sg rgdoazdh donuhds prgeasamhgs
rgspgetm fg ods sgôdodfds detudoightg gh odrgspgetm fg ods sgôdodfds detudoightg gh od
Rgsmoueaõh Iasegoähgd Jasedo y sg ahemrpmrdRgsmoueaõh Iasegoähgd Jasedo y sg ahemrpmrd
uhd edusdo saiaodr d uhd yd prgvastd, pgrmuhd edusdo saiaodr d uhd yd prgvastd, pgrm
emh uh doedheg iäs dipoam.emh uh doedheg iäs dipoam.
Gspgeéjaedightg, sg emhsafgrdrä emimGspgeéjaedightg, sg emhsafgrdrä emim
edusdo fg rgvmedeaõh sa go m omsedusdo fg rgvmedeaõh sa go m oms
rgprgsghtdhtgs ogndogs, smeams m dsmeadfms mrgprgsghtdhtgs ogndogs, smeams m dsmeadfms m
eudoquagr ahtgnrdhtg fgo Emhsgcm Fargetavm meudoquagr ahtgnrdhtg fgo Emhsgcm Fargetavm m
fg Dfiahastrdeaõh fg uhd mrndhazdeaõh eavaofg Dfiahastrdeaõh fg uhd mrndhazdeaõh eavao
m jafgaemiasm d quagh og `dyd safm rgvmedfdm jafgaemiasm d quagh og `dyd safm rgvmedfd
su dutmrsu dutmrazdeaõh pmr sgr aheouafm gh od azdeaõh pmr sgr aheouafm gh od oastd fgoastd fg
emhtrabuyghtgs qug giatdh emiprmbdhtgsemhtrabuyghtgs qug giatdh emiprmbdhtgs
jasedogs pmr mpgrdeamjasedogs pmr mpgrdeamhgs ahgxastghthgs ahgxastghtgs, fghtrmgs, fghtrm
fg oms óotaims eahem dôms, jmridh pdrtg fgfg oms óotaims eahem dôms, jmridh pdrtg fg
mtrd u mtrds mrndhazdeamhgs eavaogs ymtrd u mtrds mrndhazdeamhgs eavaogs y
jafgaemiasms dutmrazdfms pdrd rgeabarjafgaemiasms dutmrazdfms pdrd rgeabar
fmhdtavms fgfueabogs furdhtg od vanghead fgfmhdtavms fgfueabogs furdhtg od vanghead fg
od iasid.od iasid.
Emhsafgrdims qug sgrä hgegsdram vdomrdr odEmhsafgrdims qug sgrä hgegsdram vdomrdr od
emhstatueamhdoafdf fg gstd edusdo, pugsemhstatueamhdoafdf fg gstd edusdo, pugs
aipoaed uhd pghd trdseghfghtg do pghdoazdaipoaed uhd pghd trdseghfghtg do pghdoazdr dr d
pgrsmhds pmr od emhfuetd rgdoazdfd pmrpgrsmhds pmr od emhfuetd rgdoazdfd pmr
tgregrds pgrsmhds, emh ods qug hmtgregrds pgrsmhds, emh ods qug hm
hgegsdradightg sg taghg donuhd rgodeaõh mhgegsdradightg sg taghg donuhd rgodeaõh m
rgspmhsdbaoafdf.rgspmhsdbaoafdf.
  
  
4646
Goaiahdeaõh fg prmnrdids fg gseugodGoaiahdeaõh fg prmnrdids fg gseugod
giprgsdgiprgsd  
\Drts. 2>, 06 y 474, OAURY\Drts. 2>, 06 y 474, OAURY
Ug goaiahd od pmsabaoafdf fg qug omsUg goaiahd od pmsabaoafdf fg qug oms
prmnrdids fg gseugod giprgsd sgdhprmnrdids fg gseugod giprgsd sgdh
fmhdtdrads dutmrazdfds pdrd rgeabarfmhdtdrads dutmrazdfds pdrd rgeabar
fmhdtavms fgfueabogs y qug sgdhfmhdtavms fgfueabogs y qug sgdh
emhtrabuyghtgs fgo aipugstm smbrg od rghtd,emhtrabuyghtgs fgo aipugstm smbrg od rghtd,
 custajaedhfm  custajaedhfm gstd goaiahdeaõh gh gstd goaiahdeaõh gh go fgsusm fggo fgsusm fg
gstd janurd.gstd janurd.
Ahnrgsms dsaiaodbogs d sugofms yAhnrgsms dsaiaodbogs d sugofms y
sdodramssdodrams  
\Drt. 16, OAURY\Drt. 16, OAURY
Ug dfaeamhd uh supugstm pdrd gstdbogegUg dfaeamhd uh supugstm pdrd gstdbogegr qugr qug
eudhfm ods pgrsmhds jésaeds mbtghndheudhfm ods pgrsmhds jésaeds mbtghndh
ahnrgsms pmr emhegptm fg3 a) `mhmrdramsahnrgsms pmr emhegptm fg3 a) `mhmrdrams
prgstdfms prgpmhfgrdhtgightg d uhprgstdfms prgpmhfgrdhtgightg d uh
prgstdtdram< aa) `mhmrdrams qug sg dsaiaodhprgstdtdram< aa) `mhmrdrams qug sg dsaiaodh
mpeamhdoightg d sdodrams y aaa) detavafdfgsmpeamhdoightg d sdodrams y aaa) detavafdfgs
giprgsdradogs qug sg dsaiaodhgiprgsdradogs qug sg dsaiaodh
mpeamhdoightg d sdodrams , qug gmpeamhdoightg d sdodrams , qug gxegfdh gh omxegfdh gh om
ahfavafudo m gh su emhcuhtm >7 iaoomhgs fgahfavafudo m gh su emhcuhtm >7 iaoomhgs fg
pgsms, fgcdräh fg trdtdrsg emim ahnrgsmspgsms, fgcdräh fg trdtdrsg emim ahnrgsms
dsaiaodfms d sugofms y sdodrams y odsdsaiaodfms d sugofms y sdodrams y ods
pgrsmhds jésaeds qug oms pgreabdh fgbgrähpgrsmhds jésaeds qug oms pgreabdh fgbgräh
trabutdr gh táriahms fgo Edpétuom qug ogstrabutdr gh táriahms fgo Edpétuom qug ogs
emrrgspmhfd fg emhjmriafdf emh go Vétuom AZemrrgspmhfd fg emhjmriafdf emh go Vétuom AZ
fg od Ogy fgo Aipugstm smbrg od Rghtd dfg od Ogy fgo Aipugstm smbrg od Rghtd d
pdrtar fgo igs sanuaghtg d qug oms ahnrgsmspdrtar fgo igs sanuaghtg d qug oms ahnrgsms
rgbdsgh od edhtafdf rgjgrafd.rgbdsgh od edhtafdf rgjgrafd.
Dfaeamhdoightg, ods pgrsmhds jésaeds qug sgDfaeamhdoightg, ods pgrsmhds jésaeds qug sg
gheughtrgh gh go supugstm rgjgrafm fgbgrähgheughtrgh gh go supugstm rgjgrafm fgbgräh
ahjmridr pmr gseratm d omahjmridr pmr gseratm d oms prgstdtdrams m d odss prgstdtdrams m d ods
pgrsmhds qug ogs gjgetódh oms pdnms fg qugpgrsmhds qug ogs gjgetódh oms pdnms fg qug
sg trdtg, pdrd sg trdtg, pdrd om eudo sg gstdrä d om faspugom eudosg gstdrä d om faspugstmstm
pmr ods rgnods dfiahastrdtavds qug fgbgräpmr ods rgnods dfiahastrdtavds qug fgbgrä
puboaedr go Ugrvaeam fg Dfiahastrdeaõhpuboaedr go Ugrvaeam fg Dfiahastrdeaõh
Vrabutdrad.Vrabutdrad.  
Emhjmrig d om sgôdodfm gh odsEmhjmrig d om sgôdodfm gh ods
emhsafgrdeamhgs rgdoazdfds pmr od Emiasaõhemhsafgrdeamhgs rgdoazdfds pmr od Emiasaõh
fg @deaghfd y Eráfatm [óboaem fg od Eäidrdfg @deaghfd y Eráfatm [óboaem fg od Eäidrd
fg Faputdfms, gstd imfajaedeaõh busedfg Faputdfms, gstd imfajaedeaõh bused
dtdedr gsqugids dnrgsavms igfadhtg omsdtdedr gsqugids dnrgsavms igfadhtg oms
eudogs ods pgrsmhds jésaeds `dh mbtghafmeudogs ods pgrsmhds jésaeds `dh mbtghafm
gxmrbatdhtgs edhtafdfgs fg ahnrgsms y odgxmrbatdhtgs edhtafdfgs fg ahnrgsms y od
gvdsaõh fg mboandeamgvdsaõh fg mboandeamhgs jasedogs pmr pdrtg fghgs jasedogs pmr pdrtg fg
oms emhtrdtdhtgs< sah gibdrnm, gstd igfafdoms emhtrdtdhtgs< sah gibdrnm, gstd igfafd
óhaedightg ergd uhd edrnd dfiahastrdtavdóhaedightg ergd uhd edrnd dfiahastrdtavd
pdrd ods pgrsmhds jésaeds euyms ahnrgsms sgpdrd ods pgrsmhds jésaeds euyms ahnrgsms sg
dsaiaodbdh d sdodrams y qug yd sg ogsdsaiaodbdh d sdodrams y qug yd sg ogs
gjgetudbd uhd rgtgheaõh emhjmrig d odsgjgetudbd uhd rgtgheaõh emhjmrig d ods
tdrajds prgvastds gh go Ogy fgo Aipugstmtdrajds prgvastds gh go Ogy fgo Aipugstm
smbrg od Rghtd, sah qug gstg edibam aipoaqugsmbrg od Rghtd, sah qug gstg edibam aipoaqug
uhd rgedufdeaõuhd rgedufdeaõh idymr pdrd ods dutmrafdfgsh idymr pdrd ods dutmrafdfgs
jasedogs pmr emhegptm fg aipugstm smbrg odjasedogs pmr emhegptm fg aipugstm smbrg od
rghtd y qug gjgetavdightg sg busqugrghtd y qug gjgetavdightg sg busqug
rgsmovgr go prmbogid fg rdéz.rgsmovgr go prmbogid fg rdéz.  
Ahnrgsms fg pgrsmhds jésaeds dAhnrgsms fg pgrsmhds jésaeds d
trdvás fg potrdvás fg podtddtdjmrids tgehmoõnaedsjmrids tgehmoõnaeds
\Drt. 445-D, OAURY\Drt. 445-D, OAURY
Ug prgvá uhd imfajaedeaõh d jah fgUg prgvá uhd imfajaedeaõh d jah fg
gstdbogegr uhd tdsd fg rgtgheaõh óhaed pdrdgstdbogegr uhd tdsd fg rgtgheaõh óhaed pdrd
edfd tapm fg detavafdf gemhõiaed qugedfd tapm fg detavafdf gemhõiaed qug
  
  
4747
rgdoaegh ods pgrsmhds jésaeds d trdvás fgrgdoaegh ods pgrsmhds jésaeds d trdvás fg
podtdjmrids tgehmoõnaeds, dpoaedeamhgspodtdjmrids tgehmoõnaeds, dpoaedeamhgs
ahjmriätaeds y saiaodrgs, od eudo sg sgôdodahjmriätaeds y saiaodrgs, od eudo sg sgôdod
qug gstä edoeuodfd emhsafgrdhfm uhqug gstä edoeuodfd emhsafgrdhfm uh
emgjaeaghtg fg utaoafdf aipoéeatm pdrd edfdemgjaeaghtg fg utaoafdf aipoéeatm pdrd edfd
uhd fg fae`ds detavafdfgs. Detudoightg, sguhd fg fae`ds detavafdfgs. Detudoightg, sg
taghg uhd tdrajd prmnrgsavd qug ahergightdtaghg uhd tdrajd prmnrgsavd qug ahergightd
od tdsd fg rgtgheaõh d igfafd qug duightdod tdsd fg rgtgheaõh d igfafd qug duightd
go ahnrgsm.go ahnrgsm.
D trdvás fg od imfajaedeaõh gh eugstaõh sgD trdvás fg od imfajaedeaõh gh eugstaõh sg
sgôdod qug od rgtgheaõh qug fgbgräsgôdod qug od rgtgheaõh qug fgbgräh gjgetudrh gjgetudr
ods pgrsmhds imrdogs rgsaods pgrsmhds imrdogs rgsafghtgs gh fghtgs gh Iáxaem mIáxaem m
rgsafghtgs gh go gxtrdhcgrm emh m sahrgsafghtgs gh go gxtrdhcgrm emh m sah
gstdbogeaiaghtm pgridhghtg gh go pdés, dségstdbogeaiaghtm pgridhghtg gh go pdés, dsé
emim ods ghtafdfgs m janurds curéfaedsemim ods ghtafdfgs m janurds curéfaeds
gxtrdhcgrds qug prmpmreamhgh, fargetd mgxtrdhcgrds qug prmpmreamhgh, fargetd m
ahfargetdightg, go usm fg ods eatdfdsahfargetdightg, go usm fg ods eatdfds
podtdjmrids tgehmoõnaeds, dpoaedeamhgspodtdjmrids tgehmoõnaeds, dpoaedeamhgs
ahjmriätaeds y saiaodrgs, fgbgrä rgdoazdrsgahjmriätaeds y saiaodrgs, fgbgrä rgdoazdrsg
emhjmrig d om sanuaghtg3emhjmrig d om sanuaghtg3  
A.A.   Vrdtähfmsg fg prgstdeaõh fg sgrVrdtähfmsg fg prgstdeaõh fg sgrvaeams fgvaeams fg
trdhspmrtdeaõh tgrrgstrg fg pdsdcgrms ytrdhspmrtdeaõh tgrrgstrg fg pdsdcgrms y
ghtrgnd fg baghgs, od rgtgheaõh sgrä fgoghtrgnd fg baghgs, od rgtgheaõh sgrä fgo
2.4%.2.4%.  
AA.AA.   Vrdtähfmsg fg prgstdeaõh fg sgrVrdtähfmsg fg prgstdeaõh fg sgrvaeams fgvaeams fg
`mspgfdcg od rgtgheaõh sgrä fgo 6%.`mspgfdcg od rgtgheaõh sgrä fgo 6%.  
AAA.AAA.   Vrdtähfmsg fg ghdcghdeaõh fg baghgs yVrdtähfmsg fg ghdcghdeaõh fg baghgs y
prgstdeaõh fg prgstdeaõh fg sgrvaeams od rgtgheaõh sgräsgrvaeams od rgtgheaõh sgrä
fgo 4%.fgo 4%.  
Udheamhgs pmr aheuipoaiaghtm pmrUdheamhgs pmr aheuipoaiaghtm pmr
pdrtg fg podtdjmridspdrtg fg podtdjmrids  
\Drt. 445-F OAURY\Drt. 445-F OAURY
  
  
4:4:
Ug rgdoazd uhd dfaeaõh pdrd sgôdodr qug,Ug rgdoazd uhd dfaeaõh pdrd sgôdodr qug,
ahfgpghfaghtgightg fg od sdheaõh qugahfgpghfaghtgightg fg od sdheaõh qug
emrrgspmhfd fg emhjmriafdf emh omemrrgspmhfd fg emhjmriafdf emh om
faspugstm pmr go Eõfanm Jasedo fg odfaspugstm pmr go Eõfanm Jasedo fg od
Jgfgrdeaõh, rgsuotdrä dpoaedbog od sdheaõhJgfgrdeaõh, rgsuotdrä dpoaedbog od sdheaõh
emhsastghtg gh go bomqugm tgipmrdo fgoemhsastghtg gh go bomqugm tgipmrdo fgo
deegsm do sgrvaeam fanatdo trdtähfmsg fgodeegsm do sgrvaeam fanatdo trdtähfmsg fgo
aheuipoaiaghtm fg ods mboandeamhgs fgaheuipoaiaghtm fg ods mboandeamhgs fg
rgtghgr y ghtgrdr go aipugstm smbrg od rghtdrgtghgr y ghtgrdr go aipugstm smbrg od rghtd
qug emrrgspmhqug emrrgspmhfd d iäs fd d iäs tdrfdr go féd 4> tdrfdr go féd 4> fgofgo
igs sanuaghtg pmr go qug sg gjgetuõ odigs sanuaghtg pmr go qug sg gjgetuõ od
rgtgheaõh, gh go qug aheurrdh furdhtg trgsrgtgheaõh, gh go qug aheurrdh furdhtg trgs
igsgs emhsgeutavms ods pgrsmhds imrdogsigsgs emhsgeutavms ods pgrsmhds imrdogs
rgsafghtgs gh go gxtrdhcgrm sahrgsafghtgs gh go gxtrdhcgrm sah
gstdbogeaiaghtm pgridhghtg gh go pdés, dségstdbogeaiaghtm pgridhghtg gh go pdés, dsé
emim ods ghtafdfgs m janurds curéfaedsemim ods ghtafdfgs m janurds curéfaeds
gxtrdhcgrds qug prmpmreamhgh, fg idhgrdgxtrdhcgrds qug prmpmreamhgh, fg idhgrd
fargetd m ahfargetd, go usm fg podtdjmridsfargetd m ahfargetd, go usm fg podtdjmrids
tgehmoõnaeds, dpoaedeamhgs ahjmriätaeds ytgehmoõnaeds, dpoaedeamhgs ahjmriätaeds y
saiaodrgs.saiaodrgs.
D trdvás fg fae`d dfaD trdvás fg fae`d dfaeaõh sg prgvá qug, pdrdeaõh sg prgvá qug, pdrd
gjgetms fgo bomqugm y fgsbomqugm fgo deegsmgjgetms fgo bomqugm y fgsbomqugm fgo deegsm
do sgrvaeam fanatdo, sgrä dpoaedbog, gh omdo sgrvaeam fanatdo, sgrä dpoaedbog, gh om
emhfueghtg, om faspugstm gh od Ogy fgoemhfueghtg, om faspugstm gh od Ogy fgo
Aipugstm do Zdomr Dnrgndfm y qug sg sgôdodAipugstm do Zdomr Dnrgndfm y qug sg sgôdod
iäs dfgodhtg gh go prgsghtg Võpaem.iäs dfgodhtg gh go prgsghtg Võpaem.  
Mpgrdeamhgs fg emipdôédsMpgrdeamhgs fg emipdôéds
idquaodfmrdsidquaodfmrds
\Drt. 402, OAURY\Drt. 402, OAURY
Ug imfajaedh ods rgnods dpoaedbogs dUg imfajaedh ods rgnods dpoaedbogs d
emhtrabuyghtgs qug oogvgh d edbmemhtrabuyghtgs qug oogvgh d edbm
mpgrdeamhgs fg idquaod, pdrd deodrdr qug sgmpgrdeamhgs fg idquaod, pdrd deodrdr qug sg
taghgh pmr euipoafds sus mboandeamhgs ghtaghgh pmr euipoafds sus mboandeamhgs gh
idtgrad fg prgeams fg trdhsjgrgheadidtgrad fg prgeams fg trdhsjgrghead
óhaedightg igfadhtg od dpoaedeaõh fgo ‟óhaedightg igfadhtg od dpoaedeaõh fgo ‟sdjgsdjg
`drbmr’ `drbmr’   m d trdvás fg od mbtgheaõh fg uh  m d trdvás fg od mbtgheaõh fg uh
deugrfm dhtaeapdfm fg prgeams fgdeugrfm dhtaeapdfm fg prgeams fg
trdhsjgrghead (D[D pmr sus sanods gh ahnoás).trdhsjgrghead (D[D pmr sus sanods gh ahnoás).
Om dhtgramr, emh go mbcgtm fg gvatdr pmsabogsOm dhtgramr, emh go mbcgtm fg gvatdr pmsabogs
ahtgrprgtdeamhgs gh go sghtafm fg qugahtgrprgtdeamhgs gh go sghtafm fg qug
rgsuotdrédh dpoaedbogs ods mpeamhgs prgvastdsrgsuotdrédh dpoaedbogs ods mpeamhgs prgvastds
pdrd emhtrabuyghtgs qug oogvdbdh d edbmpdrd emhtrabuyghtgs qug oogvdbdh d edbm
gstg tapm fg mpgrdeamhgs prgvam d od rgjmridgstg tapm fg mpgrdeamhgs prgvam d od rgjmrid
fgo dôm 2;46 pdrd fgtgriahdr ahnrgsmsfgo dôm 2;46 pdrd fgtgriahdr ahnrgsms
deuiuodbogs y fgfueeamhgs dutmrazdfds emhdeuiuodbogs y fgfueeamhgs dutmrazdfds emh
bdsg gh uh gstufam fg prgeams fgbdsg gh uh gstufam fg prgeams fg
trdhsjgrghead.trdhsjgrghead.4>4>
OGQ FGO AI[WGUVM DOOGQ FGO AI[WGUVM DO
ZDOMR DNRGNDFMZDOMR DNRGNDFM
Ugrvaeams Ugrvaeams fanatdogfanatdogss
\Drts. 40-B, 40-F, 40-@ BAU, 40-@\Drts. 40-B, 40-F, 40-@ BAU, 40-@
VGR, 40-@ TWÄVGR, 40-TWAHVWU yVGR, 40-@ TWÄVGR, 40-TWAHVWU y
40-C, OAZD< Drt. 1;-D EJJY40-C, OAZD< Drt. 1;-D EJJY  
Gh go igs fg cuham 2;2; ghtrõ gh vanmr goGh go igs fg cuham 2;2; ghtrõ gh vanmr go
hugvm ránaigh jasedo pdrd podtdjmridshugvm ránaigh jasedo pdrd podtdjmrids
fanatdogs, igfadhtg go eudo sg emhsafgrdhfanatdogs, igfadhtg go eudo sg emhsafgrdh
emhtrabuyghtgs fgo aipugstm do vdomremhtrabuyghtgs fgo aipugstm do vdomr
dnrgndfm d oms rgsafghtgs gh go gxtrdhcgrmdnrgndfm d oms rgsafghtgs gh go gxtrdhcgrm
sah gstdbogeaiaghtm gh Iáxaem qug prgstdhsah gstdbogeaiaghtm gh Iáxaem qug prgstdh
sgrvaeams fanatdogs d rgegptmrgs qug sgsgrvaeams fanatdogs d rgegptmrgs qug sg
emhsafgrdh ubaedfms gh tgrratmram hdeamhdo.emhsafgrdh ubaedfms gh tgrratmram hdeamhdo.
Do rgspgetm, sg goaiahd od faspmsaeaõh qugDo rgspgetm, sg goaiahd od faspmsaeaõh qug
sgôdod qug go ránaigh hm rgsuotd dpoaedbog dsgôdod qug go ránaigh hm rgsuotd dpoaedbog d
oms sgrvaeams fg ahtgrigfadeaõh qug tghndhoms sgrvaeams fg ahtgrigfadeaõh qug tghndh
pmr mbcgtm od ghdcghdeaõh fg bagpmr mbcgtm od ghdcghdeaõh fg baghgs iugbogshgs iugbogs
usdfms.usdfms.
Dsaiasim, sg gstdbogeg od mboandeaõh d odsDsaiasim, sg gstdbogeg od mboandeaõh d ods
podtdjmrids fanatdogs fg ahtgrigfadeaõh fgpodtdjmrids fanatdogs fg ahtgrigfadeaõh fg
rgdoazdr od rgtgheaõh fgo 4;;% fgo aipugstmrgdoazdr od rgtgheaõh fgo 4;;% fgo aipugstm
do vdomr dnrgndfm embrdfm eudhfm prgstghdo vdomr dnrgndfm embrdfm eudhfm prgstgh
sgrvaeams fg ahtgrigfadeaõh d rgsafghtgs ghsgrvaeams fg ahtgrigfadeaõh d rgsafghtgs gh
go gxtrdhcgrm sah gstdbogeaiaghtm gh Iáxaemgo gxtrdhcgrm sah gstdbogeaiaghtm gh Iáxaem
qug prgstgh d rgegptmrgs ubaedfms ghqug prgstgh d rgegptmrgs ubaedfms gh
tgrratmram hdeamhdo eudoquagr mtrm fg omstgrratmram hdeamhdo eudoquagr mtrm fg oms
sgrvaeams fanatdogs nrdvdfms, d sdbgr, fgsgrvaeams fanatdogs nrdvdfms, d sdbgr, fg
fgsedrnd m deegsm d emhtghafms iuotaigfad,fgsedrnd m deegsm d emhtghafms iuotaigfad,
eoubgs gh oéhgd y pänahds fg eatds, dsé emimeoubgs gh oéhgd y pänahds fg eatds, dsé emim
fg ghsgôdhzd d fastdhead m fg tgst mfg ghsgôdhzd d fastdhead m fg tgst m
gcgreaeams.gcgreaeams.
Gh emhsgeughead, ods podtdjmrids fanatdogsGh emhsgeughead, ods podtdjmrids fanatdogs
fg ahtgrigfadeaõh qug gjgetógh od rgtgheaõhfg ahtgrigfadeaõh qug gjgetógh od rgtgheaõh
dhtgs igheamhdfd sgräh oabgrdfds fg oddhtgs igheamhdfd sgräh oabgrdfds fg od
mboandeaõh fg prgsghtdr ahjmrideaõh domboandeaõh fg prgsghtdr ahjmrideaõh do
Ugrvaeam fg Dfiahastrdeaõh Vrabutdrad smbrgUgrvaeam fg Dfiahastrdeaõh Vrabutdrad smbrg
oms eatdfms prgstdfmrgs gxtrdhcgrms fgoms eatdfms prgstdfmrgs gxtrdhcgrms fg
sgrvaeams fanatdogs.sgrvaeams fanatdogs.
Dsaiasim, sg gstapuod qug, gh fae`dsDsaiasim, sg gstapuod qug, gh fae`ds
mpgrdeamhgs, ods podtdjmrids fanatdogs fgmpgrdeamhgs, ods podtdjmrids fanatdogs fg
ahtgrigfadeaõh sgdh ods mboandfds d giatar goahtgrigfadeaõh sgdh ods mboandfds d giatar go
Emiprmbdhtg Jasedo Fanatdo pmr AhtgrhgtEmiprmbdhtg Jasedo Fanatdo pmr Ahtgrhgt
emrrgspmhfagemrrgspmhfaghtg d jdvhtg d jdvmr fg oms rgegptmrgs fgmr fg oms rgegptmrgs fg
oms sgrvaeams fanatdogs ubaedfms gh tgrratmramoms sgrvaeams fanatdogs ubaedfms gh tgrratmram
hdeamhdo, emh go aipugstm do vdomr dnrgndfmhdeamhdo, emh go aipugstm do vdomr dnrgndfm
trdsodfdfm fg jmrid gxprgsd y pmr sgpdrdfm.trdsodfdfm fg jmrid gxprgsd y pmr sgpdrdfm.
[mr mtrd pdrtg, sg dfaeamhd d od Ogy fgo[mr mtrd pdrtg, sg dfaeamhd d od Ogy fgo
Aipugstm do Zdomr Dnrgndfm od mpeaõh qugAipugstm do Zdomr Dnrgndfm od mpeaõh qug
detudoightg sg emhtgipod gh od Rgsmoueaõhdetudoightg sg emhtgipod gh od Rgsmoueaõh
Iasegoähgd Jasedo, gh go sghtafm fg qug odsIasegoähgd Jasedo, gh go sghtafm fg qug ods
podtdjmrids fanatdogs fg ahtgrigfadeaõhpodtdjmrids fanatdogs fg ahtgrigfadeaõh
puboaqupuboaqugh go prgeam fg gh go prgeam fg oms baghgs, sgoms baghgs, sgrvaeams mrvaeams m
drrghfdiaghtms gh oms qug mpgrdh emimdrrghfdiaghtms gh oms qug mpgrdh emim
ahtgrigfadrams, sah idhajgstdr go aipugstm doahtgrigfadrams, sah idhajgstdr go aipugstm do
vdomr dnrgndfm gh jmrid gxprgsd y pmrvdomr dnrgndfm gh jmrid gxprgsd y pmr
sgpdrdfm, sagiprg qug go aipugstm do vdomrsgpdrdfm, sagiprg qug go aipugstm do vdomr
dnrgndfm sg aheouyd gh fae`m prgeam y omsdnrgndfm sg aheouyd gh fae`m prgeam y oms
puboaqugh emh od ogyghfd ‟AZD aheouafm’.puboaqugh emh od ogyghfd ‟AZD aheouafm’.  
Dfaeamhdoightg, sg prmpmhg gstdbogegr uhDfaeamhdoightg, sg prmpmhg gstdbogegr uh
bomqugm fg deegsm do sgrvaeam fanatdo fg omsbomqugm fg deegsm do sgrvaeam fanatdo fg oms
prgstdfmrgs fg sgrvaeams fanatdogs rgsafghtgsprgstdfmrgs fg sgrvaeams fanatdogs rgsafghtgs
gh go gxtrdhcgrm sah gstdbogeaiaghtm ghgh go gxtrdhcgrm sah gstdbogeaiaghtm gh
  
  
4040
Iáxaem eudhfm aheurrdh gh aheuipoaiaghtmsIáxaem eudhfm aheurrdh gh aheuipoaiaghtms
jasedogs nrdvgs rgodeamhdfms emh od jdotd fgjasedogs nrdvgs rgodeamhdfms emh od jdotd fg
ahserapeaõh gh go Rgnastrm Jgfgrdo fgahserapeaõh gh go Rgnastrm Jgfgrdo fg
Emhtrabuyghtgs, sgôdodiaghtm fg fmiaeaoam yEmhtrabuyghtgs, sgôdodiaghtm fg fmiaeaoam y
rgprgsghtdhtg ogndo gh Iáxaem, träiatg fgrgprgsghtdhtg ogndo gh Iáxaem, träiatg fg
jarid gogetrõhaed dvdhzdfd, miasaõh fg pdjarid gogetrõhaed dvdhzdfd, miasaõh fg pdnmnm
fgo aipugstm do vdomr dnrgndfm yfgo aipugstm do vdomr dnrgndfm y
rgtgheamhgs, m bagh, od jdotd fg prgsghtdeaõhrgtgheamhgs, m bagh, od jdotd fg prgsghtdeaõh
fg fgeodrdeamhgs ahjmridtavds.fg fgeodrdeamhgs ahjmridtavds.
Dsaiasim, emim pdrtg fg ods imfajaedeamhgsDsaiasim, emim pdrtg fg ods imfajaedeamhgs
do Eõfanm Jasedo fg od Jgfgrdeaõh, qug sgdo Eõfanm Jasedo fg od Jgfgrdeaõh, qug sg
sgôdodräh iäs dfgodhtg, sg gstdbogeg uhdsgôdodräh iäs dfgodhtg, sg gstdbogeg uhd
iuotd iuotd pdrd oms emhegsamhdrampdrd oms emhegsamhdrams fg sgrvaeams fgs fg sgrvaeams fg
tgogemiuhaedeamhgs qug hm gjgetógh gotgogemiuhaedeamhgs qug hm gjgetógh go
bomqugm m fgsbomqugm qug mrfghgh odsbomqugm m fgsbomqugm qug mrfghgh ods
dutmrafdfgs jasedogs.dutmrafdfgs jasedogs.
Ugrvaeams prmjgsamhdogs fg Ugrvaeams prmjgsamhdogs fg igfaigfaeahdeahd
\Drt. 47, OAZDY\Drt. 47, OAZDY  
Detudoightg, oms sgrvaeams prmjgsamhdogs fgDetudoightg, oms sgrvaeams prmjgsamhdogs fg
igfaeahd prgstdfms pmr pgrsmhds jésaeds, ydigfaeahd prgstdfms pmr pgrsmhds jésaeds, yd
sgd fargetdightg m d trdvás fg smeagfdfgssgd fargetdightg m d trdvás fg smeagfdfgs
eavaogs, sg gheughtrdh gxghtms fgo aipugstmeavaogs, sg gheughtrdh gxghtms fgo aipugstm
do vdomr dnrgndfm< pmr om dhtgramr, od rgjmriddo vdomr dnrgndfm< pmr om dhtgramr, od rgjmrid
aheouyg fghtrm fgo gsqugid fg gxgheaõh fgoaheouyg fghtrm fgo gsqugid fg gxgheaõh fgo
aipugstm do vdomr dnrgndfm d ods pgrsmhdsaipugstm do vdomr dnrgndfm d ods pgrsmhds
jésaeds qug prgstdh jésaeds qug prgstdh sgrvaeams prmjgsamhdosgrvaeams prmjgsamhdogs fggs fg
igfaeahd d trdvás fg ahstatueamhgs fgigfaeahd d trdvás fg ahstatueamhgs fg
dsastghead m bghgjaeghead pravdfd.dsastghead m bghgjaeghead pravdfd.