The Changing Wealth of Nations

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  • 8/7/2019 The Changing Wealth of Nations

    1/242F A T J ] K A @ F A S N A C C F T F B K Y @ F A S

    Sef Henaojao_fnbtekd Antjkas

    @fnsurjao XustnjanmbfCfvfbkp`fat ja tef Afw @jbbfaaju`

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    Sef Henaojao_fnbte kd Antjkas

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    F A T J ] K A @ F A S

    N A C

    C F T F B K Y @ F A S

    N duacn`fatnb fbf`fat kd sustnjanmbf cfvfbkp`fat js favjrka`fatnb sustnja-

    nmjbjty. Efahf, tejs sfrjfs wns hrfntfc ja =99? tk hkvfr hurrfat nac f`frojao jssufs

    ja krcfr tk prk`ktf cfmntf nac mrkncfa tef uacfrstnacjao kd favjrka`fatnb

    henbbfaofs ns jatfornb tk nhejfvjao fqujtnmbf nac sustnjafc fhkak`jh orkwte. Sef

    sfrjfs wjbb crnw ka nanbysjs nac prnhtjhnb fxpfrjfahf drk` nhrkss tef _krbc Mnal

    nac drk` hbjfat hkuatrjfs. Sef `naushrjpts heksfa dkr pumbjhntjka wjbb mf hfatrnb

    tk tef j`pbf`fatntjka kd tef _krbc Mnals Favjrka`fat Xtrntfoy, nac rfbfvnat

    tk tef cfvfbkp`fat hk``uajty, pkbjhy nlfrs, nac nhncf`jn. Skpjhs nccrfssfc

    ja tejs sfrjfs wjbb jahbucf favjrka`fatnb efnbte, anturnb rfskurhfs `nanof`fat,

    strntfojh favjrka`fatnb nssfss`fat, pkbjhy jastru`fats, nac favjrka`fatnb

    jastjtutjkas, n`kao ktefrs.

    Sjtbfs ja tejs sfrjfs7

    Sef Henaojao _fnbte kd Antjkas7 @fnsurjao Xustnjanmbf Cfvfbkp`fat ja tef Afw

    @jbbfaaju`

    Hkavfajfat Xkbutjkas tk na Jahkavfajfat Srute7 Fhksystf`-Mnsfc Npprknhefs tk

    Hbj`ntf Henaof

    Favjrka`fatnb Dbkws ja _ntfr ]fskurhfs Ykbjhjfs, Ybnas, nac Yrkgfhts7 Djacjaos

    nac ]fhk``facntjkas

    Favjrka`fatnb Efnbte nac Hejbc Xurvjvnb7 Fpjcf`jkbkoy, Fhkak`jhs, nac

    Fxpfrjfahfs

    Jatfrantjkanb Srncf nac Hbj`ntf Henaof7 Fhkak`jh, Bfonb, nac Jastjtutjkanb

    Yfrspfhtjvfs

    Ykvfrty nac tef Favjrka`fat7 Vacfrstnacjao Bjalnofs nt tef Ekusfekbc Bfvfb

    Xtrntfojh Favjrka`fatnb Nssfss`fat dkr Ykbjhjfs7 Na Jastru`fat dkr Okkc Okvfranahf

    Xtrntfojh Favjrka`fatnb Nssfss`fat ja Ykbjhy nac Xfhtkr ]fdkr`7 Hkahfptunb @kcfbnac Kpfrntjkanb Oujcnahf

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    Sef Henaojao _fnbte kd Antjkas

    @fnsurjao XustnjanmbfCfvfbkp`fat ja tefAfw @jbbfaaju`

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    =9>> Sef Jatfrantjkanb Mnal dkr ]fhkastruhtjka

    nac Cfvfbkp`fat / Sef _krbc Mnal

    >5>5 E Xtrfft A_

    _nsejaotka CH =9388

    Sfbfpekaf7 =9=-3?8->999

    Jatfraft7 www.wkrbcmnal.kro

    Nbb rjoets rfsfrvfc

    > = 8 3 >8 >= >> >9

    Sejs vkbu`f js n prkcuht kd tef stndd kd tef Jatfrantjkanb Mnal dkr

    ]fhkastruhtjka nac Cfvfbkp`fat / Sef _krbc Mnal. Sef djacjaos,

    jatfrprftntjkas, nac hkahbusjkas fxprfssfc ja tejs vkbu`f ck akt

    afhfssnrjby rfdbfht tef vjfws kd tef Fxfhutjvf Cjrfhtkrs kd Sef _krbc

    Mnal kr tef okvfra`fats tefy rfprfsfat.

    Sef _krbc Mnal ckfs akt ounrnatff tef nhhurnhy kd tef cntn

    jahbucfc ja tejs wkrl. Sef mkuacnrjfs, hkbkrs, cfak`jantjkas, nac

    ktefr jadkr`ntjka sekwa ka nay `np ja tejs wkrl ck akt j`pby nay

    gucof`fat ka tef pnrt kd Sef _krbc Mnal hkahfrajao tef bfonb stntus kd

    nay tfrrjtkry kr tef fackrsf`fat kr nhhfptnahf kd suhe mkuacnrjfs.

    ] J O E S X N A C Y F ] @ J X X J K A X

    Sef `ntfrjnb ja tejs pumbjhntjka js hkpyrjoetfc. Hkpyjao nac/kr

    trnas`jttjao pkrtjkas kr nbb kd tejs wkrl wjtekut pfr`jssjka `ny mf n

    vjkbntjka kd nppbjhnmbf bnw. Sef Jatfrantjkanb Mnal dkr ]fhkastruhtjka nacCfvfbkp`fat / Sef _krbc Mnal fahkurnofs cjssf`jantjka kd jts wkrl nac

    wjbb akr`nbby ornat pfr`jssjka tk rfprkcuhf pkrtjkas kd tef wkrl prk`ptby.

    Dkr pfr`jssjka tk pektkhkpy kr rfprjat nay pnrt kd tejs wkrl, pbfnsf

    sfac n rfqufst wjte hk`pbftf jadkr`ntjka tk tef Hkpyrjoet Hbfnrnahf

    Hfatfr Jah., === ]ksfwkkc Crjvf, Cnavfrs, @N 9>:=8, VXN< tfbfpekaf7

    :?5-?69-5399< dnx7 :?5-?69-33?9< Jatfraft7 www.hkpyrjoet.hk`.

    Nbb ktefr qufrjfs ka rjoets nac bjhfasfs, jahbucjao sumsjcjnry rjoets,

    sekubc mf nccrfssfc tk tef Kddjhf kd tef Yumbjsefr, Sef _krbc Mnal,

    >5>5 E Xtrfft A_, _nsejaotka, CH =9388, VXN< dnx7 =9=-6==-=3==8-5355-4fJXMA7 :?5-9-5=>8-5663-5

    CKJ7 >9.>6:4/:?5-9-5=>8-5355-4

    Bjmrnry kd Hkaorfss Hntnbkojao-ja-Yumbjhntjka Cntn

    Sef henaojao wfnbte kd antjkas 7 `fnsurjao sustnjanmbf cfvfbkp`fat ja

    tef afw `jbbfaaju`.

    p. h`. (Favjrka`fat nac cfvfbkp`fat)

    Jahbucfs mjmbjkornpejhnb rfdfrfahfs nac jacfx.

    JXMA :?5-9-5=>8-5355-4 JXMA :?5-9-5=>8-5663-5 (fbfhtrkajh)

    >. Fhkak`jh jacjhntkrs. =. Xustnjanmbf cfvfbkp`fat.

    J. _krbc Mnal.

    EH6:.>6.H383 =9>9

    885.:=?ch==

    =9>9983584

    Hkvfr pektks7 Ljrl En`jbtka/_krbc Mnal (kutfr hjrhbf)

    > Henaofs ja _fnbte, >::6 tk =996

    H E N Y S F ] >

    8 Jatrkcuhtjka nac @nja Djacjaos7 Sef Henaojao_fnbte kd Antjkas

    6 Ekw Ckfs _fnbte Henaof wjte Cfvfbkp`fat;

    : Enrafssjao Anturnb Hnpjtnb dkr Cfvfbkp`fat

    >> Fxtfacjao nac Cffpfajao _fnbte Nhhkuats

    >4 Sef Nofacn dkr Duturf _krl ka Anturnb _fnbte

    >? Xu``jao Vp => Naafx7 @jssjao Anturnb Hnpjtnb nac Fhksystf` Xfrvjhfs

    =3 Aktfs

    =6 ]fdfrfahfs

    H E N Y S F ] =

    =? _fnbte nac Henaofs ja _fnbte, >::6=996 =? Henaojao Obkmnb _fnbte

    =: Henaojao Hk`pksjtjka kd _fnbte

    8> Henaojao _fnbte Yfr Hnpjtn

    88 _fnbte Hrfntjka ja Cfvfbkpjao Hkuatrjfs 8? Xnvjaos nac Henaofs ja _fnbte

    3> Ykpubntjka Orkwte nac tef Ncgustfc Aft Xnvjao Onp

    3= Hkahbusjkas

    33 Naafx =.>7 Hkuatrjfs Fxhbucfc drk` tef Nanbysjs kd Henaofs ja _fnbte

    36 Naafx =.=7 Yfr Hnpjtn _fnbte, >::6 nac =996, nac Henaofs ja Yfr Hnpjtn_fnbte nac Ykpubntjka, >::6=996, my ]fojka nac Jahk`f Orkup

    3: Aktfs

    3: ]fdfrfahf

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    H E N Y S F ] 8

    6> Henaofs ja Anturnb Hnpjtnb7 Cfhk`pksjao Yrjhfnac ^unatjty Fddfhts

    6= Cfhk`pksjtjka7 N Aktf ka tef @ftekckbkoy

    68 Hkatrjmutjka kd Bnac nac Xumskjb Nssfts tk Henaofs ja _fnbte

    6: Xu``jao Vp7 Bnac Tnbufs nac Xumskjb Nssfts

    4> Naafx 8.>7 Cfhk`pksjtjka @ftekckbkoy

    48 Naafx 8.=7 Cfhk`pksjtjka kd Henaofs ja Sktnb _fnbte my Jahk`f Orkupnac ]fojka, >::6=996

    4? Naafx 8.87 Cfhk`pksjtjka kd Henaofs ja Sktnb _fnbte ja XfbfhtfcHkuatrjfs ja tef @jccbf Fnst nac Akrte Ndrjhn nac Xum-Xnenrna Ndrjhn,>::6=996

    ?> Aktfs ?> ]fdfrfahf

    Y N ] S =

    ?8 N Cffpfr Bkkl nt _fnbte

    H E N Y S F ] 3

    ?6 _fnbte Nhhkuatjao ja tef Orffaekusf ?4 Hbj`ntf Xhjfahf nac tef Cfvfbkp`fat Hkasfasus

    ?? Xk`f Fhkak`jhs kd Hbj`ntf Henaof

    59 Fstj`ntfc Tnbufs kd Hnrmka Xtkhls nac Dbkws ja =996

    53 Cjshussjka7 Jssufs kd Bnw nac Fqujty

    56 Xu``jao Vp

    5? Naafx7 Xkurhfs nac Sfheajhnb Cftnjbs

    5: Aktfs

    5: ]fdfrfahfs

    H E N Y S F ] 6

    :8 Jatnaojmbf Hnpjtnb nac Cfvfbkp`fat

    :3 Sefkrftjhnb Hkasjcfrntjkas :4 Fxpbnjajao Jatnaojmbf Hnpjtnb

    :: Sef ]kbf kd Jatnaojmbf Hnpjtnb ja Cfvfbkp`fat>9= Xu``jao Vp>98 Aktfs>98 ]fdfrfahfs

    H E N Y S F ] 4

    >96 Eu`na Hnpjtnb nac Fhkak`jh Orkwte ja Hejan

    >9? Xtkhls kd Eu`na Hnpjtnb ja Hejan>9: Eu`na Hnpjtnb my ]urnb-Vrmna Bkhntjka nac my Ofacfr>>= Hk`pnrjska wjte _krbc Mnal Fstj`ntfs kd Eu`na Hnpjtnb>>8 Xu``jao Vp>>3 Naafx 4.>7 @ftekckbkoyGkrofaska-Drnu`faj Bjdftj`f Jahk`f

    Npprknhe

    vj HKASFASX

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    >>4 Naafx 4.=7 ]fhnstjao tef Cntn tk mf Hkasjstfat wjte _krbc Mnal@ftekckbkoy

    >>? Aktfs

    >>? ]fdfrfahfs

    H E N Y S F ] ?

    >>: Bjaljao Okvfranahf tk Fhkak`jh Hkasfqufahfs ja]fskurhf-]jhe Fhkak`jfs7 FJSJ nac _fnbte Nhhkuatjao

    >=> Okvfranahf, Nhhkuatnmjbjty, nac Srnaspnrfahy nbkao tef FxtrnhtjvfsTnbuf Henja

    >=8 FJSJ nac Srnaspnrfahy>=8 FJSJ++7 Fxtfacjao Okkc Okvfranahf nbkao tef Tnbuf Henja

    >=3 _fnbte Nhhkuats7 Fxtfacjao Srnaspnrfahy tk @nhrkfhkak`jhYfrdkr`nahf>=6 Xu``jao Vp>=? Aktfs>=? ]fdfrfahfs

    H E N Y S F ] 5

    >=: Hkuatry Fxpfrjfahfs wjte _fnbte Nhhkuatjao>89 Hurrfat Hkuatry Yrnhtjhfs>88 @jafrnb nac Fafroy Nhhkuats

    >83 Ktefr Anturnb Hnpjtnb Nhhkuats>84 Mnbnahf Xeffts>84 _fnbte Nhhkuatjao ja ]fhfat Jajtjntjvfs>8? Xu``jao Vp>85 Aktfs>85 ]fdfrfahfs

    Nppfacjxfs

    >3> Nppfacjx N7 Mujbcjao tef _fnbte Fstj`ntfs7 @ftekckbkoy

    >4> Nppfacjx M7 Sktnb _fnbte, Ykpubntjka, nac Yfr Hnpjtn _fnbte ja >::6,=999, nac =996

    >?8 Nppfacjx H7 _fnbte Fstj`ntfs ja =996>56 Nppfacjx C7 Hnbhubntjao Ncgustfc Aft Xnvjao ns n Yfrhfatnof kd Orkss

    Antjkanb Jahk`f, =995>:? Nppfacjx F7 Fddfht kd Ykpubntjka Orkwte ka Xnvjaos nac Henaofs ja

    _fnbte Yfr Hnpjtn, =996=98 Nppfacjx D7 Cfhk`pksjtjka Nanbysjs ns n Yfrhfatnof kd Henaof ja

    Sktnb _fnbte, my Fhkak`y, >::6=996

    =>8 Jacfx

    HKASFASX vjj

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    Mkxfs >5 >.> @fnsurfs kd Fhkak`jh Yfrdkr`nahf7 _fnbte kr Yrkcuhtjka;

    85 =.> Ncgustfc Aft Xnvjao nac @jssjao Hnpjtnb

    33 =N.> Hkuatrjfs wjte _fnbte Nhhkuats ja =996 mut Akt ja >::6

    Djourfs

    5 >.> Henaojao Tkbu`f nac Hk`pksjtjka kd _fnbte jaBkwfr-@jccbf-Jahk`f Hkuatrjfs, >::6=996

    >9 >.= Yrkcuhfc Hnpjtnb Yfr Hnpjtn, Nhtunb nac Eypkteftjhnb, ja Djvf]fskurhf-]jhe Hkuatrjfs, =996

    >> >.8 ]fskurhf Nmuacnahf nac Hnpjtnb Nhhu`ubntjka7 _efrf Ens tefEnrtwjhl ]ubf Mffa Nppbjfc;

    =: =.> Nccjtjkas tk _fnbte my Sypf kd Nssft nac Jahk`f Orkup, >::6=996

    8= =.= Orkwte ja Yfr Hnpjtn _fnbte, >::6=996

    88 =.8 Henaojao Hk`pksjtjka kd _fnbte ja Bkwfr-@jccbf-Jahk`fHkuatrjfs, >::6=996

    83 =.3 Henaof ja _fnbte nac Yfr Hnpjtn _fnbte ja Cfvfbkpjao Hkuatrjfs,>::6=996

    86 =.6 Henaofs ja _fnbte ja Cfvfbkpjao Hkuatrjfs my Sypf kd Nssft,>::6=996

    85 =.4 Hnbhubntjao Ncgustfc Aft Xnvjao dkr Xum-Xnenrna Ndrjhn, =995

    8: =.? Ncgustfc Aft Xnvjao ja ]fskurhf-]jhe Hkuatrjfs, =995 39 =.5 Ncgustfc Aft Xnvjao dkr Cfvfbkpjao-Hkuatry ]fojkas, >:?6=995

    3= =.: Ykpubntjka-Ncgustfc NAX nac Ykpubntjka Orkwte ]ntfs jaCfvfbkpjao Hkuatrjfs, =996

    63 8.> Cfhk`pksjtjka kd Henaofs ja Anturnb Hnpjtnb my Nssftnac Jahk`f Orkup, >::6=996

    63 8.= Cfhk`pksjtjka kd Henaofs ja Anturnb Hnpjtnb my Dnhtkr jaCfvfbkpjao Hkuatrjfs, >::6=996

    66 8.8 Cfhk`pksjtjka kd Henaofs ja Bnac Tnbufs my ]fojka, >::6=996

    64 8.3 Cfhk`pksjtjka kd Henaofs ja Xumskjb Nssft Tnbufs my ]fojka,>::6=996

    59 3.> Sef Tnbuf kd n ]fcuhtjka ja tef Xtkhl kd HK=

    5> 3.= Xtkhl kd HK=7 Skp >9 F`jttfrs

    5> 3.8 Tnbuf kd HK=Xtkhl ns n Yfrhfatnof kd OAJ7 Skp >9 F`jttfrs

    :4 6.> Cjstrjmutjka kd J`pbjhjt ]ntfs kd ]ftura kaHk`prfefasjvf _fnbte, =996

    >9: 4.> Ykpubntjka kd Hejan, >:5==99?

    >>9 4.= Ykpubntjka kd Hejan my Fcuhntjkanb Nttnja`fat, >:5==99?

    >== ?.> Sef Fxtrnhtjvf Jacustrjfs Tnbuf Henja

    >=6 ?.= ]fhkvfry kd ]fskurhf ]fat drk` @jajao ja Mktswnan, >:59=996

    >=4 ?.8 Orkwte kd ]fnb Yfr Hnpjtn _fnbte nac OCY ja Mktswnan nacAn`jmjn, >:59=996

    vjjj HKASFASX

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    HKASFASX jx

    Snmbfs

    ? >.> _fnbte nac Yfr Hnpjtn _fnbte my Sypf kd Hnpjtnb nac Jahk`fOrkup, >::6 nac =996

    =5 =.> Sktnb _fnbte nac Xenrfs my Sypf kd Nssft nac Jahk`f Orkup, =996

    =5 =.= Sktnb _fnbte nac Ykpubntjka, wjte Xenrfs my Jahk`f Orkup,>::6=996

    89 =.8 Sktnb _fnbte nac Xenrfs my Sypf kd Nssft nac Jahk`f Orkup, >::6nac =996

    8= =.3 Sktnb _fnbte Yfr Hnpjtn, >::6=996

    84 =.6 Hk`pksjtjka kd Anturnb Hnpjtnb ja Cfvfbkpjao ]fojkas, =996

    34 =N.> Yfr Hnpjtn _fnbte my ]fojka nac Jahk`f Orkup, >::6

    3? =N.= Yfr Hnpjtn _fnbte my ]fojka nac Jahk`f Orkup, =996

    35 =N.8 Henaofs ja Yfr Hnpjtn _fnbte nac Ykpubntjka, >::6=996 43 8N.> Cfhk`pksjtjka kd Henaofs ja Sktnb _fnbte my Jahk`f Orkup nac

    ]fojka, >::6=996

    45 8N.= Cfhk`pksjtjka kd Henaofs ja Sktnb _fnbte ja XfbfhtfcHkuatrjfs ja tef @jccbf Fnst nac Akrte Ndrjhn nac Xum-XnenrnaNdrjhn, >::6=996

    ?5 3.> Cjstrjmutjka kd Yumbjsefc @nrojanb Xkhjnb Hksts kd HK=F`jssjkas

    5= 3.= HK=Xtkhl nac Hurrfat F`jssjkas, =996

    58 3.8 Fnstfra Furkpf nac Hfatrnb Nsjn7 HK=Xtkhl nac Hurrfat

    F`jssjkas, =996

    :3 6.> Antjkanb _fnbte nac Jahk`f ja Hnancn, =99:

    :5 6.= Fstj`ntfc Hkastjtufats kd Jatnaojmbf _fnbte

    >99 6.8 Eu`na Hnpjtnb nac Hkuatry Djxfc Fddfhts ja Xfbfhtfc Hkuatrjfs,Nvfrnof >::6=996

    >9> 6.3 Fbnstjhjtjfs kd Kutput wjte ]fspfht tk Yrkcuhtjka Dnhtkrs

    >95 4.> Sktnb Eu`na Hnpjtnb ja Hejan, >:56=99?

    >>> 4.= Sktnb ]fnb Eu`na Hnpjtnb ja Hejan my ]urnb-Vrmna Bkhntjkanac Ofacfr

    >>> 4.8 Yfr Hnpjtn ]fnb Eu`na Hnpjtnb ja Hejan my ]urnb-Vrmna Bkhntjka

    nac Ofacfr>8> 5.> Kvfrvjfw kd Hkuatry Yrnhtjhfs ja _fnbte Nhhkuatjao dkr

    Akadjanahjnb Nssfts

    >83 5.= Hkuatry Yrnhtjhfs ja @jafrnb nac Fafroy Nssft Nhhkuatjao

    >34 N.> @fcjna Bjdftj`f ja =996 dkr Yrkvfa ]fsfrvfs

    >6> N.= Hnbhubntjao Ncgustfc Aft Xnvjao

    >4= M.> _fnbte nac _fnbte Yfr Hnpjtn my Fhkak`y

    >?> M.= ]fojkanb nac Jahk`f Orkup Noorfontfs Vsjao n Mnbnahfc Xn`pbfkd >=3 Hkuatrjfs

    >?3 H.> _fnbte Fstj`ntfs dkr =996>54 C.> Antjkanb Xnvjao Dbkws dkr =995

    >:5 F.> Fddfht kd Ykpubntjka Orkwte ka Xnvjaos nac Henaofs ja _fnbteYfr Hnpjtn, =996

    =93 D.> Cfhk`pksjtjka Nanbysjs ns n Yfrhfatnof kd Henaof ja Sktnb_fnbte, >::6=996

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    Dkrfwkrc

    _ent js akt `fnsurfc js akt `nanofc js kaf kd tef trujs`s kd `nanof`fat

    shjfahf, nac jt pkjats tk n wfnlafss ja tef jacjhntkrs wf usf tk onuof cfvfbkp-

    `fat prkorfss. Ns tejs mkkl cf`kastrntfs, anturnb rfskurhfs nhhkuat dkr kvfr =9pfrhfat kd tef wfnbte kd cfvfbkpjao antjkas. Zft jacjhntkrs bjlf tef orkwte rntf

    kd orkss ck`fstjh prkcuht (OCY), usfc my `jajstrjfs kd djanahf nac cfvfbkp-

    `fat fvfrywefrf, ck akt nhhkuat dkr tef cfpbftjka kd teksf anturnb rfskurhfs.

    Akt kaby nrf anturnb rfskurhfs na j`pkrtnat senrf kd antjkanb wfnbte, mut

    tef hk`pksjtjka kd anturnb wfnbte vnrjfs wjcfby nhrkss cfvfbkpjao hkuatrjfs nac

    rfojkas. Xk`f hkuatrjfs nrf mbfssfc wjte `jafrnb nac fafroy rfskurhfs wejhe

    hna ofafrntf sjoajdjhnat rfvfaufs dkr okvfra`fats mut wejhe `ny nbsk cjstkrt

    cfvfbkp`fat my prkvjcjao fnsy `kafy. Xk`f hkuatrjfs nrf rjhe ja hrkp nacpnsturf bnacs, wejhe pbnhfs n prf`ju` ka prktfhtjao skjb dfrtjbjty nac `nanojao

    tef wntfr rfskurhfs wejhe uacfrpja prkcuhtjvf usf kd tef bnac. Ktefr hkuatrjfs

    envf noajdjhfat dkrfsts, ns wfbb ns wjbc bnacs wjte nmuacnat mjkcjvfrsjty, wejhe

    hna crnw fhktkurjsts tk vjsjt drk` nbb kvfr tef wkrbc. _jtekut skuac `nanof-

    `fat, tejs anturnb pntrj`kay js nt rjsl.

    Sejs mkkl js nmkut cfvfbkp`fat nac `fnsurjao cfvfbkp`fat prkorfss. _ejbf

    prfhjsf cfdjajtjkas `ny vnry, cfvfbkp`fat js, nt efnrt, n prkhfss kd mujbcjao

    wfnbtetef prkcuhfc, anturnb, eu`na, nac jastjtutjkanb hnpjtnb wejhe js tef

    skurhf kd jahk`f nac wfbbmfjao. N lfy djacjao js tent jt js jatnaojmbf wfnbte

    eu`na nac jastjtutjkanb hnpjtnbwejhe ck`jantfs tef wfnbte kd nbb hkuatrjfs,

    rjsjao ns n senrf kd tef tktnb ns hkuatrjfs hbj`m tef cfvfbkp`fat bnccfr. Sef

    nhhkuatjao kd wfnbte ja kvfr >99 hkuatrjfs kvfr tef cfhncf drk` >::6 tk =996

    pkjats tk tef j`pkrtnat prkorfss tent ens mffa `ncf ja cfvfbkpjao hkuatrjfs.

    xj

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    xjj DK]F_K]C

    Sef djrst henptfr kd tef mkkl facs my suoofstjao tent ekw wf `fnsurf cfvfbkp-

    `fat wjbb crjvf ekw wf ck cfvfbkp`fat. _f javjtf tef rfncfr tk gkja us ja na

    fxhjtjao facfnvkrtnljao n truby hk`prfefasjvf npprknhe tk cfvfbkp`fat mymujbcjao tef wfnbte kd antjkas.

    JAOF] NACF]XFA

    Tjhf Yrfsjcfat nac Efnc kd Aftwkrl

    Xustnjanmbf Cfvfbkp`fat Aftwkrl

    Sef _krbc Mnal

    KSNTJNAK HNAVSK

    Tjhf Yrfsjcfat nac Efnc kd AftwkrlYkvfrty ]fcuhtjka nac Fhkak`jh @nanof`fat Aftwkrl

    Sef _krbc Mnal

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    Nhlakwbfco`fats

    Sef Henaojao _fnbte kd Antjkasens mffa wrjttfa my n tfn` jahbucjao Obfaa-

    @nrjf Bnaof, Ljrl En`jbtka, Ojkvnaaj ]utn, Bkpn Henlrnmkrtj, Cfvnb Cfsnj,

    Mrn` Fcfas, Xusnan Dfrrfjrn, Mnrmnrn Drnu`faj, @jhenfb Gnrvjs, _jbbjn`Ljaos`jbb, nac Enjzefao Bj. ]fsfnrhe nssjstnahf wns prkvjcfc my Gustja ]n`.

    Sef hkatrjmutjkas kd Ujnkbja ]fa nac Gnan Xtkfvfr tk tef cfvfbkp`fat kd tef

    cntnmnsf nrf orntfdubby nhlakwbfcofc.

    Sef rfpkrt rfhfjvfc jasjoetdub hk``fats drk` tef pffr rfvjfwfrs, Ojbfs

    Ntljaska, Gna Mgk, ]jhenrc Cn`najn, nac @nrjna Cfbks Naofbfs.

    _f nrf orntfdub tk hkbbfnoufs jasjcf nac kutsjcf tef _krbc Mnal wek prkvjcfc

    usfdub dffcmnhl. Kur tenals ok tk @jbna Mrne`mentt, Gubjn Muhlanbb, Lfvja

    Hnrfy, Henrbfs cj Bfvn, @nrjnaaf Dny, @jhenfb Bfvjtsly, Fcunrck Bfy, Jna Akmbf,Yfr ]ycfa, Npurvn Xnaoej, Xusnaaf Xhefjfrbjao, Gka Xtrnac, @jlf Sk`na,

    Ck`jajquf vna cfr @faasmruooef, nac Gfdd Tjahfat.

    Djanbby, wf nrf jacfmtfc tk tef bntf Yrkdfsskr Cnvjc Yfnrhf, tef dntefr kd uhe

    kd tef fhkak`jhs kd sustnjanmbf cfvfbkp`fat, Gkea KHkaakr, wek bfc tef djrst

    wkrl ka wfnbte nhhkuatjao nt tef _krbc Mnal, nac terff jacjvjcunbsGkea

    Cjxka, Ynrten Cnsouptn, nac Lnrb-Okrna @bfrwek envf hkatrjmutfc akt kaby

    tk tefkry nac prnhtjhf, mut envf nbsk tjrfbfssby hen`pjkafc tef hnusf kd nppbyjao

    favjrka`fatnb fhkak`jhs tk cfvfbkp`fat prkmbf`s terkuoe tefjr wrjtjao nac

    tfnhejao nhrkss tef cfvfbkpjao wkrbc.

    Sef djanahjnb suppkrt kd tef Okvfra`fat kd Xwfcfa js nhlakwbfcofc wjte

    orntjtucf.

    xjjj

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    xv

    Nmmrfvjntjkas

    $/tHK= ckbbnrs pfr tka kd hnrmka cjkxjcf

    $=996 hkastnat =996 V.X. ckbbnrs

    NAX ncgustfc aft snvjao

    HNJS Hbj`ntf Nanbysjs Jacjhntkrs Skkb

    HCJNH Hnrmka Cjkxjcf Jadkr`ntjka Nanbysjs Hfatfr

    HFN Hkuatry Favjrka`fatnb NanbysjsHF@ Hkuatry Fhkak`jh @f`krnacu`

    HK= hnrmka cjkxjcf

    HK=C HK

    =cn`nofs

    H_ hrkp wfnbte

    Cfpr cfprfhjntjka

    FC fafroy cfpbftjka

    FF fcuhntjka fxpfacjturf

    FJSJ Fxtrnhtjvf Jacustrjfs Srnaspnrfahy Jajtjntjvf

    FV Furkpfna Vajka

    DNK Dkkc nac Norjhubturf Kronajzntjka

    DNKXSNS Dkkc nac Norjhubturf Kronajzntjka cntnmnsf

    OCY orkss ck`fstjh prkcuht

    OEO orffaekusf ons

    Obkmnb D]N Obkmnb Dkrfst ]fskurhfs Nssfss`fat(kd tef DNK)

    OAJ orkss antjkanb jahk`f

    OAX orkss antjkanb snvjaos

    OSNY Obkmnb Srncf Nanbysjs Yrkgfht

    JFN Jatfrantjkanb Fafroy Nofahy

    J@D Jatfrantjkanb @kaftnry Duac

    JYHH Jatfrokvfra`fatnb Ynafb ka Hbj`ntf Henaof

    G-D Gkrofaska-Drnu`faj

    B@CJ bkonrjte`jh `fna Cjvjsjn jacfx

    @C `jafrnb cfpbftjka

    ADC aft dkrfst cfpbftjka

    AOK akaokvfra`fatnb kronajzntjkaAAJ aft antjkanb jahk`f

    AAX aft antjkanb snvjaos

    AYT aft prfsfat vnbuf

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    KFHC Kronajsntjka dkr Fhkak`jh Hk-kpfrntjka nac Cfvfbkp`fat

    YJ@ Yfrpftunb Javfatkry @ftekc

    Y@pnrtjhubntf `nttfrY@C pnrtjhubntf `nttfr cn`nofs

    pp`v pnrts pfr `jbbjka my vkbu`f

    YT prfsfat vnbuf

    XHH skhjnb hkst kd hnrmka

    XFFN Xystf` kd Jatforntfc Favjrka`fatnb nac Fhkak`jh

    Nhhkuatjao

    XAN Xystf` kd Antjkanb Nhhkuats

    VA Vajtfc Antjkas

    VAHSNC Vajtfc Antjkas Hkadfrfahf ka Srncf nac Cfvfbkp`fat

    VAFHF Vajtfc Antjkas Fhkak`jh Hk``jssjka dkr Furkpf

    VAFXHK Vajtfc Antjkas Fcuhntjkanb, Xhjfatjdjh, nac Hubturnb

    Kronajzntjka

    VAXC Vajtfc Antjkas Xtntjstjhs Cjvjsjka

    VXOX V.X. Ofkbkojhnb Xurvfy

    _CJ _krbc Cfvfbkp`fat Jacjhntkrs

    _C] _krbc Cfvfbkp`fat ]fpkrt

    _SY wjbbjaoafss tk pny

    Aktf7 Ckbbnr n`kuats nrf V.X. ckbbnrs uabfss ktefrwjsf jacjhntfc.

    xvj NMM]FTJNSJKAX

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    Y N ] S >

    Henaofs ja _fnbte,

    >::6 tk =996

    H E N Y S F ] >

    Jatrkcuhtjka nac @nja Djacjaos7Sef Henaojao _fnbte kd Antjkas

    H E N Y S F ] =

    _fnbte nac Henaofs ja _fnbte, >::6=996

    H E N Y S F ] 8

    Henaofs ja Anturnb Hnpjtnb7Cfhk`pksjao Yrjhf nac ^unatjty Fddfhts

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    8

    Jatrkcuhtjka nac @nja

    Djacjaos7 Sef Henaojao_fnbte kd Antjkas

    H E N Y S F ] >

    YF]ENYX SEF FN]BJFXS NXXFXX@FAS KD SEF _FNBSE KD

    antjkas wns tef Ck`fscny Mkkl,prfpnrfc nt tef hk``nac kd _jbbjn` tef

    Hkaqufrkr ja >95654. Nhhkrcjao tk tef Naobk-Xnxka Herkajhbf, tef mkkl nj`fc

    tk rfhkrc went, kr ekw `uhe, fnhe `na enc, wek wns na khhupjfr kd bnac ja

    Faobnac, fjtefr ja bnac kr ja stkhl, nac ekw `uhe `kafy jt wfrf wkrte.

    _jbbjn`s oknb ja `fnsurjao tef wfnbte kd Faobnac wns djshnb. Ef affcfc tk

    lakw tef vnbuf kd hrkwa bnacs ja tef hkaqufrfc tfrrjtkry, ns wfbb ns tef vnbuf

    kd jacjvjcunb bnacekbcjaos tent hkubc mf sumgfht tk tnxntjka. Kur oknbs ja tejs

    mkkl nrf mkte `krf `kcfst nac `krf n`mjtjkus tena teksf kd _jbbjn` tef

    Hkaqufrkr7 `krf `kcfst mfhnusf wf wjbb akt prfsfat nhhkuats nt tef bfvfb kd

    jacjvjcunb prkpfrty ekbcjaos, nac `krf n`mjtjkus mfhnusf wf sft dkrte mrknc

    wfnbte nhhkuats dkr kvfr >=9 hkuatrjfs dkr tef yfnrs >::6, =999, nac =996.

    _efa wf pksf tef qufstjka kd ekw `uhe `kafy jt wfrf wkrte dkr nssfts

    suhe ns bnac, wf nrf jafvjtnmby nsljao n qufstjka nmkut tef duturf7 went js tef

    dbkw kd rfats (kr fhkak`jh prkdjts) tent tejs nssft hna sustnja ja tef duturf; Sejs

    hkahfra wjte duturjty js, wf nrouf, tef prjahjpnb rfnska tk mujbc wfnbte nhhkuats.Jd wf fxtfac tejs hkahfpt tk hk`prfefasjvf wfnbteprkcuhfc hnpjtnb< anturnb

    hnpjtnb< nac eu`na, skhjnb, nac jastjtutjkanb hnpjtnbtefa fnsurjao henaofs ja

    wfnbte pfr`jts us tk fnsurf tef sustnjanmjbjtykd cfvfbkp`fat. Sejs js na urofat

    hkahfra tkcny ja tef pkkrfst cfvfbkpjao hkuatrjfs, ns wf wjbb sekw.

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    3 SEF HENAOJAO _FNBSE KD ANSJKAX

    @krf ofafrnbby, `fnsurjao henaofs ja rfnb, hk`prfefasjvf wfnbte prkvjcfs

    na jacjhntjka tk okvfra`fats kd weftefr pkbjhy, mrkncby hkahfjvfc, js prkcuhjao

    jahrfnsfs ja mkte hurrfat nac duturf wfbb-mfjaowent fhkak`jsts wkubc tfr`skhjnb wfbdnrf.>Jt hfrtnjaby hkubc mf nroufc tent tef duacn`fatnb cuty kd

    okvfra`fat js tk fasurf tent jts pkbjhjfs bfnc tk jahrfnsfs ja skhjnb wfbdnrf.

    Skcny, wfnbte nhhkuats nrf na jatfornb pnrt kd tef Xystf` kd Antjkanb Nhhkuats

    (XAN), wejhe prkvjcfs tef mnsjs dkr tef `fnsurf`fat kd fhkak`jh prkorfss

    usfc my `jajstrjfs kd djanahf nrkuac tef wkrbc (Furkpfna Hk``jssjka ft nb.

    =99:).=Ekwfvfr, wfnbte nhhkuats nrf akt afnrby ns wjcfby j`pbf`fatfc ns nrf

    tef `fnsurfs kd prkcuhtjka nac jahk`f. Sef trncjtjkanb jacjhntkr kd fhkak`jh

    prkorfss js orkwte ja orkss ck`fstjh prkcuht (OCY), n mrknc `fnsurf kd tef

    vnbuf kd prkcuhtjka khhurrjao wjteja n antjkas mkrcfrs. Sef prkmbf` wjte OCY

    orkwte ns na jacjhntkr, ekwfvfr, js tent jt trfnts mkte tef prkcuhtjka kd okkcs

    nac sfrvjhfs nac tef vnbuf kd nssft bjqujcntjka ns pnrt kd tef prkcuht kd tef antjka.

    Seus, n hkuatry hkubc orkw jts OCY my cfpbftjao stkhls kd dkrfsts nac `jafrnbs,

    dkr fxn`pbf, mut tejs orkwte wkubc akt mf sustnjanmbf.

    Sejs mkkl fxtfacs nac mujbcs upka _efrf Js tef _fnbte kd Antjkas; @fnsurjao

    Hnpjtnb dkr tef =>st Hfatury(_krbc Mnal =994), wejhe rfpkrtfc hk`prfefasjvf

    wfnbte nhhkuats dkr `krf tena >=9 hkuatrjfs. Ns ja tent mkkl, wf hkahfjvf kd

    cfvfbkp`fat ns n prkhfss kd mujbcjao nac `nanojao n pkrtdkbjk kd nssfts. Sefhenbbfaof kd cfvfbkp`fat js tk `nanof akt gust tef tktnb vkbu`f kd nssftsekw

    `uhe tk snvf vfrsus ekw `uhe tk hkasu`fmut nbsk tef hk`pksjtjka kd tef

    nssft pkrtdkbjk, tent js, ekw uhe tk javfst ja cjddfrfat typfs kd hnpjtnb, jahbucjao

    tef jastjtutjkas nac okvfranahf tent hkastjtutf skhjnb hnpjtnb.

    Sef Henaojao _fnbte kd Antjkasnccs sfvfrnb afw hk`pkafats tk tef prfvjkus

    wkrl. @kst j`pkrtnat, mfhnusf wfnbte nhhkuats nrf akw nvnjbnmbf kvfr n >9-yfnr

    pfrjkc, >::6 tk =996, jt js pkssjmbf tk ok mfykac n sanpsekt kd wfnbte nt n pkjat

    ja tj`f nac prkvjcf tef djrst jatfrtf`pkrnb nssfss`fat kd obkmnb, rfojkanb, nachkuatry pfrdkr`nahf ja mujbcjao wfnbte nac nhejfvjao sustnjanmbf cfvfbkp`fat.8

    Ja tejs mkkl wf tnlf n hk`prfefasjvf npprknhe tk `fnsurjao wfnbte,

    prfsfatjao nhhkuats dkr tef dkbbkwjao hntfokrjfs kd nssfts7 Sktnb wfnbte7Sef `fnsurf kd tktnb (kr hk`prfefasjvf) wfnbte js mujbt upka

    tef jatujtjvf aktjka tent hurrfat wfnbte `ust hkastrnja duturf hkasu`ptjka.

    Henptfr 6 prfsfats tef tefkry uacfrpjaajao tejs nssu`ptjka nac tef `ftekcs

    usfc tk fstj`ntf tktnb wfnbte. Yrkcuhfc hnpjtnb7Sejs hk`prjsfs `nhejafry, struhturfs, nac fqujp`fat.3

    Anturnb hnpjtnb7Sejs hk`prjsfs norjhubturnb bnac, prktfhtfc nrfns, dkrfsts,

    `jafrnbs, nac fafroy. Jatnaojmbf hnpjtnb7Sejs nssft js `fnsurfc ns n rfsjcunb, tef cjddfrfahf mftwffa

    tktnb wfnbte nac prkcuhfc nac anturnb hnpjtnb. Jt j`pbjhjtby jahbucfs fnsurfs

    kd eu`na, skhjnb, nac jastjtutjkanb hnpjtnb, wejhe jahbucfs dnhtkrs suhe ns

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    JAS]KCVHSJKA NAC @NJA DJACJAOX7 SEF HENAOJAO _FNBSE KD ANSJKAX 6

    tef rubf kd bnw nac okvfranahf tent hkatrjmutf tk na fddjhjfat fhkak`y. Aft

    dkrfjoa djanahjnb nssfts, tef mnbnahf kd n hkuatrys tktnb djanahjnb nssfts nac

    djanahjnb bjnmjbjtjfs, nrf ofafrnbby jahbucfc ns pnrt kd jatnaojmbf hnpjtnb ja tejsmkkl (wjte tef fxhfptjka kd henptfr 6, ja wejhe tefkrftjhnb hkahfras nrf tjoetby

    bjalfc tk f`pjrjhnb fstj`ntjka `ftekcs).

    Sef mkkl js cjvjcfc jatk twk pnrts. Sef djrst pnrt prkvjcfs tef mjo pjhturf

    kd henaofs ja wfnbte my jahk`f orkup nac ofkornpejh rfojka, wjte n dkhus ka

    anturnb hnpjtnb mfhnusf jt js fspfhjnbby j`pkrtnat dkr bkw-jahk`f cfvfbkpjao

    hkuatrjfs. Sef sfhkac pnrt prfsfats hnsf stucjfs tent jbbustrntf pnrtjhubnr nspfhts

    kd wfnbte nhhkuatjao, jahbucjao nhhkuatjao dkr hbj`ntf henaof, tef rkbf kd jatna-

    ojmbf hnpjtnb ja orkwte nac cfvfbkp`fat, `fnsurjao eu`na hnpjtnb, nac tef usf

    kd wfnbte nhhkuatjao tk j`prkvf trnaspnrfahy nac okvfranahf ja rfskurhf-rjhe

    fhkak`jfs. Sef djanb henptfr rfpkrts ka tef j`pbf`fatntjka kd wfnbte nhhkuatjao

    my hkuatrjfs. Sef nppfacjxfs prkvjcf tef dubb wfnbte nhhkuats dkr jacjvjcunb

    hkuatrjfs nac dkr noorfontjkas my jahk`f orkup nac ofkornpejh rfojka.

    Ekw Ckfs _fnbte Henaof wjte Cfvfbkp`fat;

    _efrf Js tef _fnbte kd Antjkas;fstnmbjsefc tef bjals mftwffa cfvfbkp`fat

    kuthk`fs nac tef bfvfb nac hk`pksjtjka kd hk`prfefasjvf wfnbte. Xk`f kdtef j`pkrtnat jasjoets drk` tent vkbu`f, mnsfc ka wfnbte nhhkuats dkr =999,

    hkatjauf tk nppby ja =996 nac, jacffc, nhrkss tef cfhncf drk` >::6 tk =996. Ja

    henptfr = kd tejs vkbu`f, wf mfoja my nanbyzjao pnttfras kd wfnbte nac henaofs ja

    pfr hnpjtn wfnbte dkr hkuatrjfs orkupfc my jahk`f hntfokry. Orkupjao hkuatrjfs

    my jahk`f js usfdub mfhnusf jt rfvfnbs tef cjrfht bjals mftwffa wfnbte, jahk`f,

    nac cfvfbkp`fat. N`kao jahk`f orkups, trfacs dkr bkw-jahk`f hkuatrjfs nrf kd

    pnrtjhubnr jatfrfst mfhnusf kd tef hkahfatrntjka kd tef wkrbcs pkkr ja tefsf

    hkuatrjfs. Cfvfbkpjao hkuatrjfs `ust `nlf cfhjsjkas nmkut (n) ekw `uhe tkjavfst vfrsus ekw `uhe tk hkasu`f nac (m) went `jx kd nssfts tk javfst ja. Sef

    `jccbf-jahk`f hkuatrjfs nrf j`pkrtnat mfhnusf tefy sefc bjoet ka tejs prkhfss

    kd wfnbte hrfntjka curjao tef trnasjtjka drk` bkw tk ejoe jahk`f. Ejoe-jahk`f

    hkuatrjfs prkvjcf jasjoet jatk tef vkbu`f nac hk`pksjtjka kd wfnbte ja teksf

    hkuatrjfs tent envf nhejfvfc ejoe `ntfrjnb stnacnrcs kd bjvjao. _f tefa bkkl

    `krf hbksfby nt cfvfbkpjao hkuatrjfs, orkupjao tef` my ofkornpejh rfojka

    mfhnusf kd tef j`pkrtnahf kd senrfc ofkornpejh nac ejstkrjhnb dfnturfs.

    Mftwffa >::6 nac =996, obkmnb wfnbte jahrfnsfc ja pfr hnpjtn tfr`s my

    >? pfrhfat ja hkastnat =996 V.X. ckbbnrs.6_fnbte orfw dnstfst ja tef bkwfr-

    `jccbf-jahk`f hkuatrjfs, wejhe nrf ck`jantfc my tef fhkak`y kd Hejan9 pfrhfat kd tef obkmnb pkpubntjka, ekbc bfss tena >

    pfrhfat kd obkmnb wfnbte (tnmbf >.>).Jatnaojmbf wfnbte js tef bnrofst sjaobf hk`pkafat kd wfnbte ja nbb jahk`f

    orkups,

    nac tef dnstfst orkwjao kaf ns wfbb. _eftefr kaf hk`pnrfs wfnbte nhrkss

    cjddfrfat jahk`f orkups dkr n sjaobf yfnr kr bkkls nt n sjaobf jahk`f orkup kvfr

    tj`f, tef hk`prfefasjvf wfnbte nhhkuats tfbb n hbfnr stkry nmkut tef rfbntjkasejp

    mftwffa cfvfbkp`fat nac wfnbte7 cfvfbkp`fat fatnjbs mujbcjao tktnb wfnbte, mut

    nbsk henaojao tef hk`pksjtjka kd wfnbte. @kst hkuatrjfs stnrt kut wjte rfbntjvfby

    ejoe cfpfacfahf ka anturnb hnpjtnbnorjhubturnb bnac, sumskjb nssfts, nac/kr

    dkrfsts. Sefy usf tefsf nssfts tk mujbc `krf wfnbte, fspfhjnbby prkcuhfc hnpjtnb

    nac jatnaojmbf (eu`na nac jastjtutjkanb) hnpjtnb.

    Sejs rfbntjkasejp mftwffa cfvfbkp`fat nac hnpjtnb js hbfnrby sffa ja tef

    bkwfr-`jccbf-jahk`fhkuatrjfs, wefrf tef fhkak`y kd Hejan ck`jantfs. Ns

    djourf >.> sekws, pfr hnpjtn wfnbte ens jahrfnsfc crn`ntjhnbby, nac gust ns j`pkr-

    tnat, tef hk`pksjtjka ens henaofc nrlfcby. Sef senrf kd anturnb hnpjtnb dfbb drk`

    83 pfrhfat ja >::6 tk =6 pfrhfat ja =996 (nbtekuoe, ns henptfr = sekws, tef bfvfb

    kd anturnb hnpjtnb pfr pfrska nhtunbby jahrfnsfc my afnrby $>,>99), wejbf tef senrfs

    kd prkcuhfc hnpjtnb nac jatnaojmbf hnpjtnb jahrfnsfc strkaoby.

    Sef rnpjc orkwte kd jatnaojmbf hnpjtnb js cuf pnrtby tk jahrfnsfc fcuhn-tjkanb nttnja`fat ja `kst hkuatrjfs, mut n sjoajdjhnat pnrt kd tef jahrfnsf ja

    jatnaojmbf hnpjtnb rfsubts drk` j`prkvf`fats ja jastjtutjkas, okvfranahf, nac

    ktefr dnhtkrs tent hkatrjmutf tk mfttfr, `krf fddjhjfat usf kd nbb kd n hkuatrys

    hnpjtnbprkcuhfc, anturnb, nac eu`na. Sef stucy kd Hejan ja henptfr 4 sekws

    tent rnpjc fhkak`jh henaof nac tef trnasjtjka tk n `nrlft-krjfatfc fhkak`y

    kddfrfc pfkpbf kppkrtuajtjfs tk rfnbjzf `uhe ejoefr rfturas dkr n ojvfa bfvfb kd

    fcuhntjkanb nttnja`fat.

    Nbtekuoe wfnbte js ck`jantfc my jatnaojmbf hnpjtnb, ja bkw-jahk`f hkua-trjfs anturnb hnpjtnb hkastjtutfs n bnrof senrf kd hk`prfefasjvf wfnbte, bnrofr

    tena prkcuhfc hnpjtnb. Ja uppfr-`jccbf-jahk`f hkuatrjfs, anturnb hnpjtnb js

    kaby sbjoetby bfss tena prkcuhfc hnpjtnb, >6 pfrhfat nac >4 pfrhfat, rfspfh-

    tjvfby. Sef ejoe cfpfacfahf kd bkw-jahk`f hkuatrjfs ka anturnb hnpjtnb nac

    tef j`pkrtnat rkbf kd anturnb hnpjtnb ja mujbcjao wfnbte suoofst tent jt sekubc

    rfhfjvf hbksf nttfatjka.

    Dkr hkuatrjfs cfpfacfat ka akarfafwnmbf anturnb hnpjtnb, trnasdkr`jao

    anturnb hnpjtnb jatk ktefr dkr`s kd wfnbte js tef pnte tk sustnjanmbf cfvfbkp fat.

    _efrf anturnb hnpjtnb js pktfatjnbby rfafwnmbf, suhe ns dkrfst bnac, npprkprjntf

    prkpfrty rjoets nac `nanof`fat rfoj`fs nrf fssfatjnb jd tef hkuatry js tk cfvfbkp

    sustnjanmby rntefr tena cfpbftf jts anturnb hnpjtnb, facjao up pkkrfr tena mfdkrf.

    Durtefr`krf, anturnb hnpjtnb wnrrnats spfhjnb dkhus ja tef wfnbte `nanof-

    `fat kd nbb hkuatrjfs, fvfa teksf wefrf jts senrf ja wfnbte js s`nbb, mfhnusf kd

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    ?

    SNMBF >.>

    _fnbte nac Yfr Hnpjtn _fnbte my Sypf kd Hnpjtnb nac Jahk`f Orkup, >::6 nac =996

    >::6

    Jahk`f Orkup

    Sktnb _fnbte

    (VX$

    mjbbjkas)

    Yfr Hnpjtn

    _fnbte

    (VX$)

    Jatnaojmbf

    Hnpjtnb

    (%)

    Yrkcuhfc

    Hnpjtnb

    (%)

    Anturnb

    Hnpjtnb

    (%)

    Sktnb _fnbte

    (VX$

    mjbbjkas)

    Yfr Hnp

    _fnbte

    (VX$)

    Bkw jahk`f =,33? 6,=:9 35 >= 3> 8,6:? 4,>8

    Bkwfr jccbf jahk`f 88,:69 >>,889 36 => 83 65,9=8 >4,:9

    Vppfr jccbf jahk`f 84,?:3 ?8,639 45 >? >6 3?,>58 5>,86

    Ejoe jahk`f KFHC 3=>,43> 3?5,336 59 >5 = 66>,:43 655,8>

    _krbc 693,635 >98,8>> ?4 >5 4 4?8,6:8 >=9,3?

    Xkurhf7 Nutekrs hnbhubntjkas mnsfc ka _krbc Mnal cntn.Aktf7 Djourfs nrf mnsfc ka tef sft kd hkuatrjfs dkr wejhe wfnbte nhhkuats nrf nvnjbnmbf drk` >::6 tk =996. Cntn ja tejs tn

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    5 SEF HENAOJAO _FNBSE KD ANSJKAX

    sfvfrnb henrnhtfrjstjhs tent sft jt npnrt drk` `kst prkcuhfc nac jatnaojmbf hnpjtnb.

    Anturnb hnpjtnb js tef skurhf kd `nay fhksystf` sfrvjhfs, prkvjcfc ns fxtfranbjtjfs

    wjtekut `nrlft prjhfs< efahf, tefsf sfrvjhfs nrf kdtfa uacfrvnbufc nac vubafr-nmbf tk terfnts. @nay dkr`s kd anturnb hnpjtnb nrf akarfafwnmbf, kr rfafwnmbf

    kaby uacfr rfstrjhtfc `nanof`fat rfoj`fs. Bkssfs nac cforncntjka kd anturnb

    hnpjtnb `ny bfnc tk jrrfvfrsjmbf henaofs ja tef prkvjsjka kd fhksystf` sfrvjhfs

    nac mjkcjvfrsjty, nac tef pktfatjnb dkr sumstjtutjka js bj`jtfc (dkr fxn`pbf, ja

    tef hnsf kd tef kzkaf bnyfr). Xk`f anturnb mncs (nt`kspefrjh hnrmka cjkxjcf

    \HK=P dkr fxn`pbf) nrf obkmnb ja shkpf nac prkvfanahf nac nrf mkte akarjvnb

    nac akafxhbucnmbf< kaby hkkpfrntjvf skbutjkas hna cfnb wjte tef prkmbf`.

    Ns henptfr = sekws, n`kao tef cfvfbkpjao hkuatrjfs, nbb ofkornpejh

    rfojkas envf jahrfnsfc tefjr pfr hnpjtn wfnbte, mut tef onjas nppfnr s`nbbfst ja

    >5,999

    >4,999

    >3,999

    >=,999

    >9,999

    5,999

    4,999

    3,999

    =,999

    9

    VX$pfrhnpjtn

    >::6 =999 =996

    anturnbhnpjtnb prkcuhfchnpjtnb jatnaojmbfhnpjtnb

    DJOV]F >.>

    Henaojao Tkbu`f nac Hk`pksjtjka kd _fnbte ja Bkwfr-@jccbf-Jahk`fHkuatrjfs, >::6=996

    Xkurhf7 Nutekrs hnbhubntjkas mnsfc ka _krbc Mnal cntn.

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    JAS]KCVHSJKA NAC @NJA DJACJAOX7 SEF HENAOJAO _FNBSE KD ANSJKAX :

    Xum-Xnenrna Ndrjhn7 kaby 3 pfrhfat mftwffa >::6 nac =996. Jd wf bkkl `krf

    hbksfby nt tejs rfojka, ekwfvfr, wf djac twk senrpby cjstjaht stkrjfs. Kaf stkry js

    nmkut n enacdub kd hkuatrjfs, bfc my rfskurhf-rjhe Ajofrjn, tent fxpfrjfahfc stffpcfhbjafs ja pfr hnpjtn wfnbte nac crnoofc ckwa pfrdkr`nahf dkr tef fatjrf rfojka

    rfbntjvf tk tef rfst kd tef wkrbc. Sef ktefr stkry, ekwfvfr, js nmkut tef suhhfss ja

    jahrfnsjao pfr hnpjtn wfnbte nhejfvfc my afnrby twk-tejrcs kd Ndrjhna hkuatrjfs

    kvfr tef cfhncf. Sejs sfhkac orkup wns bfc my tef bnrofst Ndrjhna fhkak`y, Xkute

    Ndrjhn, mut nbsk jahbucfs ktefrs suhe ns Mktswnan, Murljan Dnsk, Ftejkpjn, Oenan,

    @kzn`mjquf, nac Vonacn. Dkr tef rfojka ns n wekbf, tef suhhfssdub hkuatrjfs

    wfrf nmbf tk kddsft tef cfhbjaf ja pfr hnpjtn wfnbte ja tef uacfrpfrdkr`frs.

    @kst kd tef jahrfnsf ja pfr hnpjtn wfnbte ja nbb rfojkas rfsubtfc drk` tef

    orkwte kd jatnaojmbf hnpjtnbj`prkvf`fats ja eu`na hnpjtnb, jastjtutjkas,

    nac tfheakbkoy tent suppkrt `krf fddjhjfat usf kd prkcuhfc nac anturnb hnpjtnb.

    Mut anturnb hnpjtnb rf`njas na j`pkrtnat nssft. Norjhubturnb bnac ck`jantfs tef

    anturnb hnpjtnb kd Nsjn, Bntja N`frjhn, nac Xum-Xnenrna Ndrjhn, wejbf sumskjb

    nssfts nhhkuat dkr `krf tena 49 pfrhfat kd tef anturnb hnpjtnb kd Furkpf nac

    Hfatrnb Nsjn nac tef @jccbf Fnst nac Akrte Ndrjhn. Dkrfst bnac js pnrtjhu-

    bnrby j`pkrtnat ja Bntja N`frjhn. Mkte Xum-Xnenrna Ndrjhn nac Xkute Nsjn

    fxpfrjfahfc n cfhbjaf ja anturnb hnpjtnb drk` >::6 tk =996, wejhe js wkrryjao

    ojvfa tef hkatjaufc cfpfacfahf kd sk `nay pfkpbf ka norjhubturf.

    Enrafssjao Anturnb Hnpjtnb dkr Cfvfbkp`fat

    Sef Enrtwjhl rubf (Enrtwjhl >:??< Xkbkw >:54) prkvjcfs n sj`pbf rubf kd teu`m

    dkr sustnjanmbf cfvfbkp`fat ja hkuatrjfs tent cfpfac ka akarfafwnmbf anturnb

    rfskurhfs. Sef Enrtwjhl rubf ekbcs tent hkasu`ptjka hna mf `njatnjafctef

    cfdjajtjka kd sustnjanmbf cfvfbkp`fatjd tef rfats drk` akarfafwnmbf rfskurhfs

    nrf hkatjaukusby javfstfc rntefr tena usfc dkr hkasu`ptjka. Mut, ja dnht, `nay

    rfskurhf-rjhe cfvfbkpjao hkuatrjfs ck akt rfjavfst tef rfats. Xk efrf wf pksf n

    hkuatfrdnhtunb qufstjka7 _ent wkubc tktnb hnpjtnb mf jd, fnhe yfnr sjahf >:59,

    hkuatrjfs enc javfstfc nbb tef rfskurhf rfat ja prkcuhfc hnpjtnb;4Sef eypkteft-

    jhnb hnpjtnb stkhl js tefa hk`pnrfc tk nhtunb prkcuhfc hnpjtnb tk sff (n) weftefr

    hkuatrjfs dkbbkwfc tef Enrtwjhl rubf, nac (m) jd tefy cjc akt, ekw `uhe rjhefr

    tefy hkubc envf mffa jd tefy enc dkbbkwfc tef rubf.

    Sef hkasfqufahfs kd akt javfstjao rfskurhf rfats ja prkcuhtjvf nssfts wfrf

    ejoebjoetfc ja_efrf Js tef _fnbte kd Antjkas;terkuoe tef nanbysjs kd tef

    Enrtwjhl rubf hkuatfrdnhtunb. _f upcntf tefsf djourfs tk =996 tk sekw went

    js dkrfokaf wefa rfskurhf-rjhe hkuatrjfs ck akt rfjavfst rfskurhf rfats drk`

    akarfafwnmbf anturnb hnpjtnb.

    Djourf >.= sekws tef rfsubts kd tef Enrtwjhl rubf hkuatfrdnhtunb dkr djvf

    rfskurhf-rjhe hkuatrjfs. Ja =996, Srjajcnc nac Skmnok enc nhhu`ubntfc $=9,9=>

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    >9 SEF HENAOJAO _FNBSE KD ANSJKAX

    pfr hnpjtn ja `naudnhturfc hnpjtnb. Jd jt enc dkbbkwfc tef Enrtwjhl rubf nac

    rfjavfstfc nbb tef rfskurhf rfats drk` kjb nac ons, jt wkubc envf nhhu`ubntfc

    `krf tena terff tj`fs ns `uhe `naudnhturfc hnpjtnb7 $44,86: pfr hnpjtn. Sef

    sjtuntjka js sj`jbnr ja tef ktefr dkur rfskurhf-rjhe hkuatrjfs sekwa ja tef djourf7

    jd rfats enc mffa rfjavfstfc, tefsf hkuatrjfs wkubc envf nhhu`ubntfc dnr orfntfr

    n`kuats kd prkcuhfc hnpjtnb pfr pfrska, sumstnatjnbby nccjao tk tef prkcuhtjvf

    mnsf kd tefjr fhkak`jfs.

    Djourf >.8 sekws tef sn`f jadkr`ntjka dkr n bnrof au`mfr kd hkuatrjfs jawejhe rfats ka akarfafwnmbf rfskurhfs hkastjtutf nt bfnst > pfrhfat kd orkss

    antjkanb jahk`f. Sef ekrjzkatnb nxjs sekws tef senrf kd rfskurhf rfats ja OCY,

    wejbf tef vfrtjhnb nxjs sekws ekw `uhe `krf prkcuhfc hnpjtnb n hkuatry wkubc

    envf jd jt enc rfjavfstfc nbb jts rfskurhf rfats. Hkuatrjfs dnbbjao nt kr mfbkw tef

    zfrk bjaf envf prkcuhfc hnpjtnb tent `ffts kr fxhffcs tef Enrtwjhl rubf. Seksf

    nmkvf tef zfrk bjaf envf akt rfjavfstfc rfats< jd tefy enc, tefy wkubc envf orfntfr

    wfnbte ja =996.

    N`kao tef hkuatrjfs ja djourf >.8 nrf n sumsft kd rfskurhf-rjhe hkuatrjfs,

    cfdjafc ns teksf ja wejhe rfskurhf rfats nhhkuat dkr nt bfnst 6 pfrhfat kd OCY.

    N dfw kd tefsf hkuatrjfs envf dkbbkwfc tef Enrtwjhl rubf. Hkuatrjfs bjlf @fxjhk

    (@FU) kr Yfru (YF]) envf bnrofby hk`pfasntfc dkr cfpbftjka kd `jafrnbs my

    javfstjao ja prkcuhfc hnpjtnb, sk tefjr eypkteftjhnb hnpjtnb js akt `uhe cjddfrfat

    drk` tefjr nhtunb hnpjtnb nhhu`ubntjka. Hkuatrjfs bjlf @nbnysjn (@ZX) nac

    >9,999

    9

    =9,999

    89,999

    39,999

    69,999

    49,999

    ?9,999

    59,999

    =996VX$pfrhnptjn

    Srjajcncnac

    Skmnok

    Tfafzufbn,]M

    Onmka Ajofrjn Hkaok,]fp.

    =9,9=>

    >=,?:8

    >5,556

    >,84:

    6,83:8,?3>

    >4,955

    4?,::3

    36,=34

    44,86:

    nhtunbprkcuhfchnpjtnb eypkteftjhnbprkcuhfchnpjtnb(Enrtwjhlrubf)

    DJOV]F >.=

    Yrkcuhfc Hnpjtnb Yfr Hnpjtn, Nhtunb nac Eypkteftjhnb, ja Djvf]fskurhf-]jhe Hkuatrjfs, =996

    Xkurhf7 Nutekrs hnbhubntjkas mnsfc ka _krbc Mnal cntn.Aktf7Nhtunb hnpjtnb js tef n`kuat tef hkuatry nhhu`ubntfc ja =996. Eypkteftjhnb prkcuhfchnpjtnb js tef n`kuat tef hkuatry hkubc envf nhhu`ubntfc jd jt enc dkbbkwfc tef Enrtwjhl rubf nacrfjavfstfc nbb rfskurhf rfats sjahf >:59.

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    >= SEF HENAOJAO _FNBSE KD ANSJKAX

    Cfhk`pksjao Henaofs ja Anturnb _fnbte drk` >::6 tk =996

    Envjao cfshrjmfc tef henaojao hk`pksjtjka kd hnpjtnb, wf wkubc nbsk bjlf tk

    uacfrstnac tef crjvjao dkrhfs mfejac tejs henaof. _f dkhus ka anturnb hnpjtnbmkte mfhnusf kd tef j`pkrtnahf kd anturnb hnpjtnb tk cfvfbkpjao hkuatrjfs nac

    mfhnusf wf envf hkahrftf, jacfpfacfat `fnsurfs dkr cftnjbfc hk`pkafats kd

    tejs typf kd wfnbte tk suppkrt tejs nanbysjs.

    Henaofs ja tef vnbuf kd anturnb hnpjtnb hna rfsubt drk` `nay dnhtkrs, sk`f

    rfbntfc tk tef prjhf kr rfturas tk na nssft nac sk`f rfbntfc tk tef peysjhnb quna-

    tjty kd na nssft. Dkr fxn`pbf, tef vnbuf kd tktnb norjhubturnb bnac ja n hkuatry

    `ny jahrfnsf wefa `krf bnac js mrkuoet uacfr hubtjvntjka (n qunatjty fddfht)

    kr wefa tef aft prjhf kd hrkps prkcuhfc ka n ojvfa n`kuat kd bnac jahrfnsfs

    (prjhf fddfht). Xj`jbnrby, tef vnbuf kd sumskjb nssfts ny jahrfnsf wjte rjsjao wkrbc

    `nrlft prjhfs (prjhf fddfht) kr na jahrfnsf ja prkvfa rfsfrvfs (qunatjty fddfht).

    Kmvjkusby, nay kd tefsf dnhtkrs henaof sj`ubtnafkusby nac jt js akt fnsy tk skrt

    kut tef rfbntjvf j`pkrtnahf kd fnhe kaf.

    N tfheajquf hnbbfc cfhk`pksjtjka nanbysjs, nppbjfc ja henptfr 8, js usfc tk

    cftfr`jaf tef rfbntjvf j`pkrtnahf kd cjddfrfat dnhtkrs tent henaof tef vnbuf kd

    anturnb hnpjtnb kvfr tj`f. _f dkuac tent prjhf henaofs pbnyfc n sjoajdjhnat rkbf

    ja `nay rfojkas. Cfhbjajao norjhubturnb bnac vnbuf ja Xum-Xnenrna Ndrjhn nac

    Xkute Nsjn ens mffa crjvfa `njaby my cfhbjajao prjhfs dkr hrkp nac bjvfstkhlprkcuhts.?Sef cfhbjaf wns pnrtby kddsft my jahrfnsfs ja prkcuhtjka nac yjfbcs,

    mut tef prjhf fddfht ens ck`jantfc ja tefsf rfojkas. My hkatrnst, ja Fnst Nsjn nac

    tef Ynhjdjh ns wfbb ns Bntja N`frjhn nac tef Hnrjmmfna, tefrf wns n aft jahrfnsf

    ja norjhubturnb bnac vnbufs mfhnusf tef cfhbjaf ja prjhfs wns `krf tena kddsft my

    jahrfnsfs ja hrkp prkcuhtjka nrfn, hrkp yjfbcs, nac bjvfstkhl prkcuhtjka. Dkrfst

    bnac ens mffa pnrtjhubnrby j`pkrtnat tk wfnbte hrfntjka ja Bntja N`frjhn nac

    tef Hnrjmmfna, `njaby mfhnusf kd tef jahrfnsf ja tj`mfr prjhfs. Sef fddfht js

    pnrtjhubnrby j`pkrtnat ja Mrnzjb.Ja ktefr rfojkas, tef rjsjao vnbuf kd sumskjb nssfts pbnyfc n `ngkr rkbf ja

    henaojao tef vnbuf kd anturnb hnpjtnb. _ejbf tef fxpnacjao vkbu`f kd rfsfrvfs

    hkatrjmutfc, tef `kst j`pkrtnat dnhtkr wns tef senrp jahrfnsf ja uajt rfats dkr

    sumskjb nssfts. _krbcwjcf, ?> pfrhfat kd tef orkwte ja sumskjb nssft vnbufs hna mf

    fxpbnjafc my jahrfnsfs ja uajt rfats. Ja cfvfbkpjao hkuatrjfs, uajt rfat jahrfnsfs

    hkatrjmutfc 46 pfrhfat kd tef jahrfnsf ja sumskjb nssft vnbufs.

    Orffaekusf Ons F`jssjkas nac tef _fnbte kd Antjkas

    Cn`nofs drk` orffaekusf ons f`jssjkas wjbb envf na j`pnht ka duturf wfbb-mfjao

    nac ka tef sustnjanmjbjty kd jacjvjcunb hkuatrjfs nac tef wkrbc. Sef ejoe bfvfb kd

    obkmnb hkahfra wjte hbj`ntf henaof cf`nacs tent wf stnrt tk bkkl nt orffaekusf

    ons f`jssjkas drk` n wfnbtenhhkuatjao pfrspfhtjvf.5Naaunb hkuatry f`jssjkas

    kd orffaekusf onsfs nrf hbksfby `kajtkrfc, nac fstj`ntfs kd tef senrfs kd tef

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    JAS]KCVHSJKA NAC @NJA DJACJAOX7 SEF HENAOJAO _FNBSE KD ANSJKAX >8

    stkhl kd nt`kspefrjh HK=my hkuatry, mnsfc ka f`jssjkas drk` >569 tk =994,

    nrf akw nvnjbnmbf drk` tef Hbj`ntf Nanbysjs Jacjhntkrs Skkb (HNJS) cntnmnsf.

    Ja henptfr 3, wf hnbhubntf tef fhkak`jh vnbuf kd tef stkhl kd HK=nttrjmutnmbftk hkuatrjfs my nppbyjao na fstj`ntf kd tef skhjnb hkst kd hnrmka tk hu`ubn-

    tjvf HK=f`jssjkas my hkuatry, ncgustfc dkr tef (sbkw) cfhny kd HK

    =ja tef

    nt`kspefrf kvfr tj`f. Ja pfr hnpjtn tfr`s, tejs vnbuf js pnrtjhubnrby bnrof ja

    ejoe-jahk`f hkuatrjfs, wejbf jt js bnrof ns n senrf kd tktnb wfnbte ja `nay cfvfb-

    kpjao hkuatrjfs, pnrtjhubnrby ja tef trnasjtjka fhkak`jfs kd Fnstfra Furkpf nac

    Hfatrnb Nsjn.

    Sk mrjao tefsf HK=vnbufs dkr`nbby jatk tef antjkanb nhhkuatjao nac wfnbte

    drn`fwkrl, tefrf wkubc envf tk mf norff`fat nmkut prkpfrty rjoets, tef prja-

    hjpbfs kd jatfrantjkanb bnw tk nppby, nac tef ftejhs kd j`pksjao fjtefr hbj`ntf

    cn`nofs kr tef hksts kd hbj`ntf jtjontjka ka cfvfbkpjao hkuatrjfs. Sefsf stkhls

    kd hnrmka cfprfhjntf nhhkrcjao tk peysjhnb bnws, uabjlf djanahjnb kmbjontjkas

    tent hna mf cjshenrofc my jahrfnsfc snvjaos. Nhhkrcjaoby, ns nroufc ja _krbc

    Cfvfbkp`fat ]fpkrt =9>9, tef cfvfbkp`fat prkhfss jtsfbd `ust mf trnasdkr`fc,

    mfhnusf ejoe-hnrmka orkwte js ak bkaofr sustnjanmbf (_krbc Mnal =9>9m).

    Nhejfvjao tejs trnasdkr`ntjka ust nbsk nhhkrc wjte tef hk``ka mut cjddfrfatj-

    ntfc rfspkasjmjbjtjfs kd nbb hkuatrjfs f`mkcjfc ja tef Vajtfc Antjkas Drn`fwkrl

    Hkavfatjka ka Hbj`ntf Henaof.

    Vacfrstnacjao tef Jatnaojmbf7 Sef J`pkrtnahf kd Eu`na nac

    Xkhjnb Hnpjtnb

    Jatnaojmbf hnpjtnb fahk`pnssfs eu`na, skhjnb, nac jastjtutjkanb hnpjtnb, nac ktefr

    uanhhkuatfc-dkr dnhtkrs tent hkatrjmutf tk eu`na wfbb-mfjao. Jt `nlfs up n bnrof

    senrf kd tktnb wfnbte, na fstj`ntfc 4959 pfrhfat, ja `kst hkuatrjfs. Ekwfvfr,

    uabfss wf uacfrstnac krf nmkut tef hk`pksjtjka kd jatnaojmbf wfnbte, okvfra-

    `fats `ny mf tf`ptfc tk hkahbucf tent n wjcf rnaof kd pumbjh fxpfacjturfs nrfsk`fekw yjfbcjao jatnaojmbf mfafdjts. _efrf Js tef _fnbte kd Antjkas;sekwfc

    tent fcuhntjka nac tef rubf kd bnw nhhkuatfc dkr `kst kd tef jatnaojmbf hnpjtnb

    (_krbc Mnal =994). Vsjao tef `krf fxtfasjvf cntnmnsf nddkrcfc my hkuatry

    wfnbte nhhkuats dkr terff tj`f pfrjkcs nac afw cntn ka aft dkrfjoa djanahjnb

    nssfts, tejs mkkl js nmbf tk hbnrjdy tef hk`pksjtjka nac hkatrjmutjka kd jatnaojmbf

    hnpjtnb tk cfvfbkp`fat.

    Henptfr 6 prfsfats twk lfy djacjaos ja tejs rfonrc7 Eu`na hnpjtnb js tef `kst j`pkrtnat hk`pkafat kd jatnaojmbf wfnbte dkr nbb

    hkuatrjfs nac fspfhjnbby dkr ejoe-jahk`f hkuatrjfs. Ja cfvfbkpjao hkuatrjfs,

    eu`na hnpjtnb ck`jantfs jatnaojmbf wfnbte, mut tef qunbjty kd jastjtutjkas nac

    tef bfonhy kd ofkornpey nac ejstkry nrf nbsk strkao dnhtkrs. Jatnaojmbf hnpjtnb js tef kabystntjstjhnbby sjoajdjhnat dnhtkr kd prkcuhtjka ja

    ejoe-jahk`f KFHC hkuatrjfs. Sejs suoofsts tent ja tefsf fhkak`jfs nbb kd

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    >3 SEF HENAOJAO _FNBSE KD ANSJKAX

    tef pktfatjnb hkastjtufats kd jatnaojmbf hnpjtnbtef qunatjty nac qunbjty kd

    eu`na hnpjtnb, tef hkastjtufats kd tktnb dnhtkr prkcuhtjvjty (hbksfby bjalfc tk

    tfheakbkojhnb henaof), nac jastjtutjkanb qunbjty mrkncby hkahfjvfc`ny mftef lfy crjvfrs kd prkcuhtjka nac orkwte.

    Sejs nanbysjs ekbcs hbfnr pkbjhy j`pbjhntjkas dkr cfvfbkpjao-hkuatry okvfra-

    `fats. Jt js ak surprjsf tent javfst`fats ja eu`na hnpjtnb nrf na j`pkrtnat pnrt

    kd tef cfvfbkp`fat prkhfss. Mut strfaotefajao jastjtutjkas nac cfvfbkpjao tef

    hnpnhjty tk ofafrntf nac usf lakwbfcoftef prfhurskrs tk tktnb dnhtkr prkcuh-

    tjvjty orkwtewjbb nbsk mf strkaoby wfnbte-faenahjao. Djanbby, kur orkwte

    nhhkuatjao nanbysjs sekws tent okvfra`fats nbsk affc tk fasurf tent hk`pbf-

    `fatnry javfst`fats ja jadrnstruhturf nac anturnb rfskurhf `nanof`fat wjbb

    suppkrt tefsf javfst`fats ja jatnaojmbf hnpjtnb, nac vjhf vfrsn.

    Eu`na Hnpjtnb Nhhkuatjao ja Hejan

    Cfbvjao krf cffpby jatk eu`na hnpjtnb nhhkuatjao, henptfr 4 rfpkrts n hnsf stucy

    dkr Hejan, mnsfc ka hkuatry-spfhjdjh cntn (Bj ft nb. =99:), tk fxpbkrf tef rfbntjka

    mftwffa fhkak`jh cfvfbkp`fat nac eu`na hnpjtnb. Sef Hejafsf hnsf prkvjcfs

    na j`pkrtnat hkatrjmutjka tk kur uacfrstnacjao kd tef obkmnb j`pkrtnahf kd

    eu`na hnpjtnb. Djrst, Hejan js tef `kst pkpubkus hkuatry ja tef wkrbc. Xfhkac, jt

    ens uacfrokaf vfry rnpjc fhkak`jh nac cf`kornpejh henaofs (cuf, dkr fxn`pbf,tk tef kaf-hejbc pkbjhy, jorntjka, nac urmnajzntjka), nhhk`pnajfc my tef rnpjc

    fxpnasjka kd fcuhntjka curjao tef hkursf kd fhkak`jh cfvfbkp`fat. Eu`na

    hnpjtnb nhhkuats suppkrt mfttfr nssfss`fat kd tef hkatrjmutjka kd eu`na hnpjtnb

    tk orkwte nac cfvfbkp`fat.

    Obkmnb fvjcfahf jacjhntfs tent tef senrf kd eu`na hnpjtnb ja tktnb wfnbte

    jahrfnsfs ns antjkanb jahk`f jahrfnsfs, nac tent js hfrtnjaby tef hnsf dkr Hejan.

    Mftwffa >:56 nac =99? mkte tktnb nac pfr hnpjtn eu`na hnpjtnb orfw rnpjcby ja

    Hejan, fspfhjnbby ndtfr >::6, wefa naaunb orkwte nvfrnofc :.4 pfrhfat. Orkwtekd eu`na hnpjtnb ens mffa crjvfa `njaby my jahrfnsfs ja fcuhntjkanb nttnja`fat

    nac tef ejoefr rfturas tk fcuhntjka kddfrfc my n nrlft-crjvfa fhkak`y, rntefr

    tena my pkpubntjka orkwte, ns fvjcfahfc my tef rnpjcby jahrfnsjao vnbuf kd pfr

    hnpjtn eu`na hnpjtnb. N ofacfr onp fxjsts dkr tktnb eu`na hnpjtnb, nac ka n

    pfr hnpjtn mnsjs tef onp mftwffa `nbf nac df`nbf eu`na hnpjtnb ens jahrfnsfc

    sk`fwent sjahf >:56.

    Ja >:56 tef rurnb pkpubntjka efbc 49 pfrhfat kd Hejans tktnb eu`na hnpjtnb,

    mut my =99? tef sjtuntjka wns rfvfrsfc nac n bnrof urmna-rurnb onp ens cfvfbkpfc

    sjahf tefa. Sejs js ja pnrt tef rfsubt kd urmnajzntjka nac bnrof-shnbf rurnb-urmna

    `jorntjka, ns wfbb ns ejoefr fcuhntjkanb nttnja`fat kd tef urmna pkpubntjka

    nac tef ejoefr rfturas tk fcuhntjka ja urmna nrfns wefrf tef `kcfra fhkak`y

    js hkahfatrntfc. Ka n pfr hnpjtn mnsjs, tefrf js nbsk n sjoajdjhnat onp7 my =99?

    pfr hnpjtn eu`na hnpjtnb ja urmna nrfns wns twjhf tent kd tef rurnb pkpubntjka.

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    JAS]KCVHSJKA NAC @NJA DJACJAOX7 SEF HENAOJAO _FNBSE KD ANSJKAX >6

    Sef Henbbfaof Dnhjao ]fskurhf-]jhe Hkuatrjfs7 Srnasdkr`jao Anturnb

    _fnbte jatk tef Hnpjtnb Affcfc dkr Orkwte nac Cfvfbkp`fat

    Anturnb hnpjtnb hkastjtutfs n `ngkr hk`pkafat kd wfnbte nac js n prjahjpnb skurhfkd jahk`f dkr `nay cfvfbkpjao hkuatrjfs. Akarfafwnmbf rfskurhfs, tef sumskjb

    nssfts, prfsfat n pnrtjhubnr henbbfaof7 tef rfvfauf strfn` rfprfsfats n kaf-tj`f

    kppkrtuajty tk djanahf rnpjc cfvfbkp`fat nac pkvfrty rfcuhtjka. Fvjcfahf ens

    sekwa tent tef fhkak`jh pfrdkr`nahf kd bfss-cfvfbkpfc hkuatrjfs ens kdtfa

    mffa javfrsfby rfbntfc tk tefjr anturnb rfskurhf wfnbte, n pefak`faka lakwa

    ns tef rfskurhf hursf.:Ekwfvfr, tejs rfbntjkasejp js akt cftfr`jajstjh< sk`f

    hkuatrjfs suhe ns Hejbf nac Mktswnan envf ckaf wfbb wjte tefjr anturnb hnpjtnb.

    Ns cfshrjmfc ja henptfr ?, envjao tef rjoet pkbjhy `nttfrs.

    Sef cfvfbkp`fat henbbfaof dkr rfskurhf-rjhe fhkak`jfs js tk trnasdkr`

    akarfafwnmbf anturnb hnpjtnb jatk ktefr dkr`s kd prkcuhtjvf wfnbte sk tent kahf

    tef fxtrnhtjvf rfskurhfs (kjb, ons, nac `jafrnbs) nrf fxenustfc, tefrf nrf ktefr

    jahk`f-ofafrntjao nssfts tk tnlf tefjr pbnhf. @jajao js akt sustnjanmbf, mut tef

    rfvfauf drk` tef fxtrnhtjvf sfhtkr hna mf javfstfc ja ktefr dkr`s kd wfnbte

    jadrnstruhturf, eu`na hnpjtnb, rfafwnmbf anturnb hnpjtnb, nac strfaotefajao

    jastjtutjkas (skhjnb hnpjtnb)tk mujbc fhkak`jfs tent nrf sustnjanmbf. Sk nhejfvf

    tejs trnasdkr`ntjka rfqujrfs ofttjao pkbjhy rjoet ja terff nrfns7

    Yrk`ktjao fddjhjfat rfskurhf fxtrnhtjka ja krcfr tk `nxj`jzf rfskurhf rfatofafrntfc

    N systf` kd tnxfs nac rkynbtjfs tent fanmbfs okvfra`fat tk rfhkvfr rfat N hbfnr pkbjhy dkr javfst`fat kd rfskurhf rfat ja prkcuhtjvf nssfts

    Sef bnst pkjat js fspfhjnbby j`pkrtnat7 dkr sustnjanmbf fhkak`jh cfvfbkp`fat,

    jahk`f drk` akarfafwnmbf rfskurhfs `ust mf rfjavfstfc, akt usfc tk duac

    hkasu`ptjka. Hk`prfefasjvf wfnbte nhhkuats hna strfaotefa nac uacfrpja

    facfnvkrs bjlf tef Fxtrnhtjvf Jacustrjfs Srnaspnrfahy Jajtjntjvf (FJSJ) tk prk`ktf

    orfntfr nhhkuatnmjbjty ja rfskurhf-rjhe hkuatrjfs terkuoe trnaspnrfahy nmkut tefdubb fhkak`jh hkasfqufahfs kd rfvfauf (`js)`nanof`fat.

    @njastrfn`jao _fnbte Nhhkuatjao ja Hkuatry Xtntjstjhnb Xystf`s

    Ja nccjtjka tk tef wkrl my tef _krbc Mnal rfpkrtfc ja tejs vkbu`f, n hkasjcfr-

    nmbf n`kuat kd wkrl ka wfnbte nhhkuatjao ens mffa ckaf my ktefr jastjtutjkas

    nac jacjvjcunb shekbnrs kvfr tef bnst twk cfhncfs. Hkasjcfrjao kaby wkrl hnrrjfc

    kut my kddjhjnb stntjstjhnb kddjhfs, wfnbte nhhkuatjao ens mffa jastjtutjkanbjzfc ja

    `krf tena 89 hkuatrjfs, >4 kd wejhe hk`pjbf nt bfnst kaf typf kd nssft nhhkuat

    ka n rfoubnr mnsjs. Sef `ngkrjty kd hkuatrjfs dkhus ka `jafrnb nac fafroy nssfts,

    mut sk`f hkuatrjfs, aktnmby Nustrnbjn nac Akrwny, hkastruht hk`prfefasjvf

    nhhkuats dkr anturnb hnpjtnb. Henptfr 5 prkvjcfs n cftnjbfc cfshrjptjka kd tejs wkrl.

    Nbkao wjte tef stucy my En`jbtka nac Hbf`fas (>:::) nt tef _krbc Mnal,

    sumstnatjnb tefkrftjhnb ncvnahfs ja hk`prfefasjvf wfnbte nhhkuatjao dkr

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    >4 SEF HENAOJAO _FNBSE KD ANSJKAX

    sustnjanmbf cfvfbkp`fat envf mffa nhejfvfc my Lfaafte Nrrkw, Ynrten Cnsouptn,

    nac Lnrb-Orna @bfr (f.o., Nrrkw, Cnsouptn, nac @bfr =998< Cnsouptn nac

    @bfr =999, =993). Antjkanb stntjstjhnb kddjhfs, tef nhncf`jh hk``uajty, nacakaokvfra`fatnb kronajzntjkas (AOKs) envf prkcuhfc n bnrof mkcy kd f`pjrjhnb

    wkrl ka anturnb hnpjtnb nhhkuatjao nt tef antjkanb, rfojkanb, nac bkhnb bfvfbs.

    Snlfa tkoftefr, tefsf stucjfs envf cffpfafc kur lakwbfcof kd wfnbte nhhkuatjao

    nac hbnrjdjfc jssufs rfbntfc tk jt.

    Nt tef sn`f tj`f tefrf ens mffa hkasjcfrnmbf fddkrt kvfr tef pnst =9 yfnrs

    tk cfvfbkp stntjstjhnb `ftekckbkoy dkr favjrka`fatnb nhhkuatjao (n mrknc

    drn`fwkrl tent jahbucfs anturnb hnpjtnb nhhkuatjao) uacfr tef nfojs kd tef

    Vajtfc Antjkas (VA) Xtntjstjhnb Hk``jssjka. Sef Hk``jssjka fstnmbjsefc tef

    Bkacka Orkup ka Favjrka`fatnb Nhhkuatjao nac bntfr n ejoe-bfvfb mkcy, tef

    VA Hk``jttff kd Fxpfrts ka Favjrka`fatnb Nhhkuatjao, tk cfvfbkp `fte-

    kckbkojhnb oujcfbjafs. Ja =998 tef Enacmkkl kd Antjkanb Nhhkuatjao7Jatforntfc

    Favjrka`fatnb nac Fhkak`jh Nhhkuatjao, hk``kaby rfdfrrfc tk ns tef XFFN,

    wns prkcuhfc (Vajtfc Antjkas ft nb. =998). Sejs `naunb js hurrfatby uacfr rfvj-

    sjka nac wjbb mfhk`f pnrt kd tef stntjstjhnb stnacnrc, bjlf tef Xystf` kd Antjkanb

    Nhhkuats tent fstnmbjsefs `ftekckbkoy dkr antjkanb nhhkuats.

    Durtefr suppkrt dkr tef hk`prfefasjvf wfnbte npprknhe tk sustnjanmbf cfvfb-

    kp`fat js prkvjcfc ja tef rfhfat rfpkrt my Xtjobjtz, Xfa, nac Djtkussj (=99:).Sef rfpkrt prkpksfs wnys tk `kcjdy nac fxtfac hkavfatjkanb antjkanb nhhkuats

    ja krcfr tk prkvjcf n `krf nhhurntf nac usfdub oujcf dkr pkbjhy. Na j`pkrtnat

    hk`pkafat kd tef prkpksfc henaofs, tk mfttfr rfdbfht sustnjanmjbjty kd fhkak-

    `jfs, js hk`prfefasjvf wfnbte. Sef Xtjobjtz-Xfa-Djtkussj rfpkrt rfhk``facs tef

    hk`pjbntjka kd nhhkuats dkr fnhe hntfokry kd nssft rfpkrtfc ja tejs mkkl, nac

    henaofs ja tef nssfts, wejhe hkrrfspkac tk tef hk`pkafats kd ncgustfc aft snvjao.

    Sef Nofacn dkr Duturf _krl ka Anturnb _fnbte

    Hkastruhtjao cftnjbfc wfnbte nhhkuats dkr >6= hkuatrjfs ka n rfoubnr mnsjs tent

    nrf hk`pnrnmbf mkte nhrkss hkuatrjfs nac kvfr tj`f js n cnuatjao tnsl. _f crfw

    ka n bnrof au`mfr kd cntnmnsfs hk`pjbfc my antjkanb nac jatfrantjkanb nofa-

    hjfs.>9Xpfhjdjh anturnb rfskurhfs nrf jahbucfc ja tef nhhkuats wefa tefy `fft twk

    hrjtfrjn7 (n) rfbjnmbf cntn ka prjhf nac vkbu`f nrf nvnjbnmbf ka n rfoubnr mnsjs, akt

    drk` khhnsjkanb kr kaf-kdd stucjfs, nac (m) cntn nrf nvnjbnmbf dkr n bnrof au`mfr

    kd hkuatrjfs, jd akt dkr nbb. Sefrf nrf sk`f anturnb rfskurhfs wefrf tef nvnjbnmbf

    cntn ck akt `fft tefsf hrjtfrjn, aktnmby djsefrjfs, hfrtnja `jafrnbs, nac hfrtnjawntfr sfrvjhfs suhe ns eycrkpkwfr. Ns n rfsubt, tef vnbuf kd anturnb hnpjtnb js

    uacfrfstj`ntfc, nac dkr spfhjdjh hkuatrjfs tejs k`jssjka hna mf sjoajdjhnat.

    Ja nccjtjka, sk`f hk`pkafats kd anturnb hnpjtnb, tef rfoubntjao fhksystf`

    sfrvjhfs nac favjrka`fatnb cn`nofs, ck akt nppfnr fxpbjhjtby ja tef wfnbte

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    JAS]KCVHSJKA NAC @NJA DJACJAOX7 SEF HENAOJAO _FNBSE KD ANSJKAX >?

    nhhkuats. @nay kd tefsf sfrvjhfs nrf nbrfncy jahbucfc ja tef vnbuf kd norjhubturnb

    bnac, mut mfhnusf tefy nrf kaby j`pbjhjt, suppkrtjao went wf vnbuf jacjrfhtby, tefjr

    vnbufs nrf ejccfa. Dkr fxn`pbf, tef vnbuf kd anturnb pkbbjantkrs kr orkuacwntfrjs jahkrpkrntfc ja tef vnbuf kd norjhubturnb bnac. Dubby nhhkuatjao dkr tef vnbuf kd

    tefsf fhksystf` sfrvjhfs wkubc akt ncc tk tef wfnbte kd antjkas mut wkubc henaof

    tef hk`pksjtjka, dkr fxn`pbf my sejdtjao pnrt kd tef nssft vnbuf drk` norjhubturnb

    bnac tk orkuacwntfr kr dkrfsts. Sejs jadkr`ntjka js usfdub dkr `nanof`fat kd

    anturnb rfskurhfs, mfhnusf jd pkbjhy `nlfrs nrf uanwnrf tent sfrvjhfs hrjtjhnb tk

    norjhubturf nrf prkvjcfc my dkrfsts kr wftbnacs, tefy `ny `nlf cfhjsjkas nmkut

    dkrfsts tent jancvfrtfatby rfcuhf tef prkcuhtjvjty nac vnbuf kd norjhubturnb bnac.

    Mut tef bnac nhhkuatsdkhusjao ka norjhubturnb bnac, wejhe js kst j`pkrtnat

    dkr cfvfbkpjao hkuatrjfs nac hna mf `kst rfncjby `fnsurfcnrf akt hk`pbftf.

    _f nrf `jssjao fhksystf` sfrvjhfs nsskhjntfc wjte ktefr typfs kd bnac, aktnmby

    rfsjcfatjnb nac hk``frhjnb bnac, mut nbsk ktefr pumbjh bnac tent js akt uacfr

    prktfhtfc stntus.>>Dkr tefsf prkpfrtjfs, tef nfsteftjh n`fajty sfrvjhfs prkvjcfc

    my anturnb bnacshnpfs hna mf vfry j`pkrtnat, fspfhjnbby ja ejoe-jahk`f hkuatrjfs

    wefrf pfkpbf nrf wjbbjao tk pny ejoe prjhfs dkr bnlfsjcf kr mfnhedrkat ek`fs, dkr

    fxn`pbf. Jd tef vnbuf kd tefsf fhksystf` sfrvjhfs wfrf jahbucfc ja tef anturnb

    hnpjtnb nhhkuats, jt wkubc bjlfby jahrfnsf tef senrf kd anturnb hnpjtnb ja tktnb

    wfnbte, fspfhjnbby ja ejoe-jahk`f hkuatrjfs.Sef `jssjao anturnb hnpjtnb, trfnt`fat kd fhksystf` sfrvjhfs, sumstjtutnmjbjty

    n`kao cjddfrfat typfs kd hnpjtnb, nac j`pbjhntjkas dkr tef wfnbte nhhkuats nrf

    cjshussfc ja `krf cftnjb ja tef henptfr naafx. Djbbjao tef onps ja hkahfpts,

    `ftekcs, nac cntn, pnrtjhubnrby dkr anturnb hnpjtnb, hkastjtutfs na j`pkrtnat

    nofacn dkr j`prkvjao tef hkvfrnof nac usfdubafss kd wfnbte nhhkuatjao.

    Xu``jao Vp

    Sef wkrl rfpkrtfc ja tejs mkkl kddfrs bfsskas nmkut ekw hkuatrjfs hna cfvfbkpsustnjanmby. Sef nanbysjs kd wfnbte nhhkuats kvfr tef cfhncf drk` >::6 tk =996

    sekws cfvfbkp`fat tk mf n prkhfss kd mujbcjao wfnbte. Durtefr`krf, ja tejs

    prkhfss, tef hk`pksjtjka kd wfnbte sejdts nwny drk` anturnb hnpjtnb nac tkwnrc

    prkcuhfc hnpjtnb nac, jahrfnsjaoby, jatnaojmbf hnpjtnb. Sef j`pkrtnat rkbf kd tef

    henaojao hk`pksjtjka kd wfnbte ja tef cfvfbkp`fat prkhfss pkjats tk tef affc

    dkr hk`prfefasjvfwfnbte nhhkuatjao.

    Jatnaojmbf hnpjtnb ck`jantfs tef wfnbte nhhkuats kd nbb hkuatrjfs. Javfstjao ja

    eu`na hnpjtnb js j`pkrtnat ja tejs prkhfss, mut mujbcjao okkc jastjtutjkas nacokvfranahf js fqunbby j`pkrtnat mfhnusf tejs prkvjcfs tef mnsjs dkr `krf fddjhjfat

    usf kd, nac ejoefr fhkak`jh rfturas tk, nbb dkr`s kd hnpjtnb.

    Dkr cfvfbkpjao hkuatrjfs, wefrf anturnb hnpjtnb js n bnrof senrf kd hk`prf-

    efasjvf wfnbte, skuac `nanof`fat kd anturnb hnpjtnb tk mujbc wfnbte js hrjtjhnb.

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    >5 SEF HENAOJAO _FNBSE KD ANSJKAX

    Ekwfvfr, fvfa wefa n hkuatrys senrf kd hk`prfefasjvf wfnbte js s`nbb, jt js

    fssfatjnb tk dkhus ka nanof`fat kd anturnb hnpjtnb mfhnusf jt cjddfrs ja lfy wnys

    drk` prkcuhfc nac jatnaojmbf hnpjtnb. Anturnb hnpjtnb hna prkvjcf n wjcf rnaofkd bkhnb nac obkmnb pumbjh okkcs. @nay dkr`s kd anturnb hnpjtnb nrf akarfafw-

    nmbf, kr rfafwnmbf kaby uacfr hfrtnja `nanof`fat rfoj`fs. Bkssfs kd anturnb

    hnpjtnb `ny bfnc tk jrrfvfrsjmbf henaofs, nac tef pktfatjnb dkr sumstjtutjka js

    kdtfa bj`jtfc. _ejbf prkcuhfc nac jatnaojmbf hnpjtnb senrf tefsf henrnhtfrjstjhs

    tk sk`f cforffdkr fxn`pbf, prkvjsjka kd pumbjh okkcs, nac bj`jtfc sumstjtut-

    nmjbjtytef cnaofr kd jrrfvfrsjmbf henaof js dnr bfss tena dkr anturnb hnpjtnb. Jd

    prkcuhfc hnpjtnb js cn`nofc kr cfstrkyfc, jt hna usunbby mf rfpbnhfc.

    Mkx >.> bkkls ja `krf cftnjb nt tef jssuf rnjsfc nt tef mfojaajao kd tejs henptfr7

    jd kur hkahfra js wjte jahrfnsjao skhjnb wfbdnrftef su` kd prfsfat nac duturf

    wfbb-mfjaotefa wf affc tk sejdt kur dkhus drk` fnsurjao kutput tk fnsurjao

    wfnbte nac jts henaofs kvfr tj`f. Ja tejs mkkl wf ckhu`fat ekw tejs hna henaof

    kur pfrspfhtjvf ka tef prkhfss kd cfvfbkp`fat my f`pensjzjao tef sejdtjao rkbfs

    kd anturnb, prkcuhfc, nac jatnaojmbf hnpjtnb ns hkuatrjfs orkw nac cfvfbkp.

    Jd wf wjse truby tk uacfrstnac fhkak`jh cfvfbkp`fat, tefa sj`pbf mnhlwnrc-

    bkkljao jacjhntkrs kd kutput orkwte, suhe ns OCY orkwte rntfs, wjbb akt suddjhf.

    Hkuatrjfs affc tk lakw wefrf tefy nrf okjao, ja nccjtjka tk wefrf tefy envf

    mffa. Sk went fxtfat envf fhkak`jh nhtkrsekusfekbcs, djr`s, nac okvfra-`fatsjahrfnsfc tef wfnbte kd antjkas my snvjao nac javfstjao dkr tef duturf;

    Sk went fxtfat envf jastjtutjkanb rfdkr`, tfheajhnb prkorfss, nac javfst`fat ja

    eu`na hnpjtnb nhhfbfrntfc tef prkhfss kd cfvfbkp`fat; Sefsf qufstjkas envf

    pnrtjhubnr dkrhf nac urofahy ja cfvfbkpjao hkuatrjfs, wefrf, kur au`mfrs sekw,

    `nay kd tef `kst rfskurhf-jatfasjvf fhkak`jfs nrf nhtunbby hkasu`jao wfnbte,

    nac wefrf tef pktfatjnb vnbuf kd eu`na hnpjtnb js hkastrnjafc my tef qunbjty kd

    jastjtutjkas nac okvfranahf. Ekw wf `fnsurf cfvfbkp`fat wjbb crjvf ekw wf

    ck cfvfbkp`fat.

    MKU >.>

    @fnsurfs kd Fhkak`jh Yfrdkr`nahf7 _fnbte kr Yrkcuhtjka;

    Sef lfy tk jahrfnsjao stnacnrcs kd bjvjao bjfs ja mujbcjao antjkanb

    wfnbte, wejhe rfqujrfs javfst`fat nac antjkanb snvjaos tk djanahf tejs

    javfst`fat. _f envf fxn`jafc wfnbte nhhkuats nt terff pkjats kvfr

    n cfhncf< snvjaos/javfst`fat js tef cyan`jh mfenvjkr tent fxpbnjas

    ekw na fhkak`y `kvfs drk` kaf pkjat tk tef afxt. Sef hk`pnajka tktktnb kr hk`prfefasjvf wfnbte js ncgustfc aft snvjao (NAX), nbsk hnbbfc

    ofaujaf snvjao, cfdjafc ns antjkanb aft snvjao ncgustfc dkr tef vnbuf

    kd rfskurhf cfpbftjka nac favjrka`fatnb cforncntjka nac hrfcjtfc

    (hkatjaufc)

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    JAS]KCVHSJKA NAC @NJA DJACJAOX7 SEF HENAOJAO _FNBSE KD ANSJKAX >:

    dkr fcuhntjka fxpfacjturfs (n prkxy dkr javfst`fat ja eu`na hnpjtnb).

    Xjahf wfnbte henaofs terkuoe snvjao nac javfst`fat, NAX `fnsurfs

    tef henaof ja n hkuatrys antjkanb wfnbte. Sef rubf dkr jatfrprftjaoNAX js sj`pbf7 jd NAX js afontjvf, tefa wf nrf ruaajao ckwa kur hnpjtnb

    stkhls nac duturf wfbb-mfjao wjbb suddfr< jd NAX js pksjtjvf, tefa wf nrf

    nccjao tk wfnbte nac duturf wfbb-mfjao.

    _ejbf wfnbte js typjhnbby n bnrof au`mfr tent henaofs sbkwby, NAX js

    na jahrf`fatnb `fnsurf nac hna henaof rnpjcby. Seus, NAX prkvjcfs na

    fnrby wnrajao sjoanb jd na fhkak`y js ka n ckwawnrc pnte. Durtefr`krf,

    NAX js vfry pkbjhy-sfasjtjvf7 jd okvfra`fat cfhjcfs tk spfac `krf ka

    fcuhntjka kr fanhts pkbjhjfs tk jahrfnsf prjvntf sfhtkr javfst`fat,

    tef rfsubts wjbb sekw up j``fcjntfby ja NAX. X`nbb, afontjvf NAX`ny akt prkcuhf henaofs tent nrf j``fcjntfby aktjhfnmbf, mut jd jt js

    sustnjafc kvfr tj`f, wfnbte nac wfbb-mfjao wjbb fvfatunbby cfhbjaf. NAX

    dkr Xum-Xnenrna Ndrjhn, sekwa ja tef djourf mfbkw ns n pfrhfatnof kd

    orkss antjkanb jahk`f (OAJ), hbfnrby sekws na uasustnjanmbf trfac sjahf

    >::3nbtekuoe, ns aktfc fnrbjfr, tejs trfac js crjvfa `njaby my n s`nbb

    enacdub kd rfskurhf-rjhe stntfs, pnrtjhubnrby kjb prkcuhfrs.

    _ejbf NAX js tefkrftjhnbby skuac nac rfbntjvfby fnsy tk j`pbf`fat,

    antjkanb snvjao js akt na j`pkrtnat jacjhntkr ja tef `nhrkfhkak`jh tkkbljt.

    Sef hkahfpt kd nhhkuatjao dkr cfpbftjka nac cforncntjka kd anturnb hnpjtnb

    js wjcfby rfhkoajzfc, mut hkuatrjfs envf dnr `krf kdtfa fxpfrj`fatfc

    (hkatjaufc)

    5

    4

    3

    =

    9

    =

    3

    4

    %

    OAJ

    >::4

    >::?

    >::5

    >:::

    =999

    =99>

    =99=

    =998

    =993

    =996

    =994

    =99?

    =995

    Ncgustfc Aft Xnvjao ja Xum-Xnenrna Ndrjhn ns n Yfrhfatnof kd OrkssAntjkanb Jahk`f

    Xkurhf7 Nutekrs hnbhubntjkas mnsfc ka _krbc Mnal cntn.

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    =9 SEF HENAOJAO _FNBSE KD ANSJKAX

    wjte ncgust`fats tk hkavfatjkanb `nhrkfhkak`jh noorfontfs suhe ns

    OCY kr aft antjkanb jahk`f (AAJ), sumtrnhtjao cfpbftjka nac cforncntjka

    kd anturnb hnpjtnb. Fvfa tef terff hkuatrjfs tent rfoubnrby hk`pjbf wfnbte

    nhhkuats, Akrwny, Nustrnbjn, nac @fxjhk, hk`pjbf ncgustfc AAJ kr rfbntfc

    jacjhntkrs rntefr tena NAX (sff henptfr 5). Sef `ngkr rfnska dkr tejs

    sff`s tk mf tent `nhrkfhkak`jsts `kst kdtfa dkhus ka `fnsurfs kd

    kutput (OCY) rntefr tena ka wfbb-mfjao, n cjstjahtjka tent tef bnac`nrl

    rfpkrt my Xtjobjtz, Xfa, nac Djtkussj (=99:) `nlfs vfry hbfnr.

    Sef jadkr`ntjka usfc tk hnbhubntf NAX hna nbsk mf usfc tk ncgust aft

    antjkanb jahk`f, mut tef jatfrprftntjka kd tef bnttfr js bfss hbfnr. Sef afxt

    djourf sekws AAJ dkr Xum-Xnenrna Ndrjhn ndtfr ncgustjao dkr cfpbftjkanac cforncntjka. Ncgustfc AAJ typjhnbby dkbbkws n trfac bjaf kvfr tj`f nt

    n bkwfr bfvfb tena AAJ, mut ncgustfc AAJ nbkaf ckfs akt tfbb us weftefr

    orkwte js sustnjanmbf kr akt. Ekwfvfr, jd wf ncc hkasu`ptjka tk tef

    ornpe, ns sffa ja tef djourf, tef jatfrprftntjka mfhk`fs hbfnr7 n onp

    nrjsfs mftwffa hkasu`ptjka nac ncgustfc AAJ tent mfhk`fs fspfhjnbby

    prkakuahfc ndtfr =993. Sejs onp mftwffa hkasu`ptjka nac ncgustfc AAJ

    sekws tent Xum-Xnenrna Ndrjhn js hkasu`jao `krf tena jts hurrfat (aft)

    jahk`f. Jt hna kaby ck tejs my bjqujcntjao jts hnpjtnb, wejhe wjbb bfnvf jts

    hjtjzfas pkkrfr nac wjte bfss hnpnhjty tk ofafrntf jahk`f ja tef yfnrs tk

    hk`f. Sejs onp js hbksfby rfbntfc tk NAX, bnhljao kaby tef ncgust`fat tk

    rfdbfht javfst`fat ja eu`na hnpjtnb.

    3,999

    6,999

    4,999

    ?,999

    5,999

    :,999

    >9,999

    >>,999

    >=,999

    VX$`jbbjkas

    >::9

    >::=

    >::4

    >::3

    >::5

    =

    999

    =99=

    =

    993

    =994

    =

    995

    djanbhkasu`ptjkafxpfacjturf(hkastnat=999VX$)

    ncgustfcaftantjkanbjahk`f(hkastnat=999VX$)

    Hkasu`ptjka nac Ncgustfc Aft Antjkanb Jahk`f ja Xum-XnenrnaNdrjhn, >::9=995

    Xkurhf7 Ncnptfc drk` En`jbtka nac Bfy =9>9.

    MKU >.> (hkatjaufc)

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    JAS]KCVHSJKA NAC @NJA DJACJAOX7 SEF HENAOJAO _FNBSE KD ANSJKAX =>

    Naafx7 @jssjao Anturnb Hnpjtnb nac Fhksystf` Xfrvjhfs

    Ja tejs naafx wf cjshuss `jssjao anturnb hnpjtnb nac fhksystf` sfrvjhfs. _f

    jcfatjdy kmstnhbfs tk `fnsurf`fat nac tef bjlfby j`pnht kd teksf k`jssjkas ka

    `fnsurfs kd wfnbte.

    @jssjao Anturnb ]fskurhfs7 @jafrnbs, Djsefrjfs, nac _ntfr

    @jafrnbs

    Sef wfnbte nhhkuats jahbucf dkur fafroy rfskurhfs nac >9 `ngkr `ftnbs nac

    `jafrnbs. Mfhnusf kd n bnhl kd cntn, tef nhhkuats k`jt n au`mfr kd `jafrnb

    rfskurhfs, suhe ns cjn`kacs, urnaju`, nac bjteju`, fvfa tekuoe tefy nrf

    fxtrf`fby j`pkrtnat dkr spfhjdjh hkuatrjfs. Jadkr`ntjka nmkut tef vkbu`f nac

    vnbuf kd naaunb prkcuhtjka js ofafrnbby nvnjbnmbf, mut jadkr`ntjka nmkut rfsfrvfs

    nac tef hksts kd prkcuhtjkaaffcfc tk hnbhubntf nssft vnbufsjs akt. Ns n

    rfsubt, tef vnbuf kd anturnb hnpjtnb js uacfrfstj`ntfc, nac dkr hfrtnja hkuatrjfs

    tejs k`jssjka hna mf sjoajdjhnat.

    Djsefrjfs

    Djsefrjfs nrf akt jahbucfc ja tef wfnbte nhhkuats mfhnusf kd n bnhl kd jadkr`n-

    tjka nmkut djse stkhls nac uahfrtnjaty nmkut tefjr duturf.

    >=

    Mut tejs k`jssjkaprkmnmby ens n s`nbbfr j`pnht ka obkmnb nac hkuatry wfnbte nhhkuats tena tef

    k`jssjka kd `jafrnbs. Sef lfy jssuf efrf js `nanof`fat. Ykkr `nanof`fat js

    sffa ja tef fhkak`jhs kd djsejao nac ja tef cfpbftfc stntf kd tef wkrbcs djsefrjfs

    (DNK =99:).

    Vacfr hurrfat `nanof`fat, `kst hk``frhjnb djsejao kpfrntfs wjte ejoe

    aft bkssfs nac js lfpt okjao kaby my fxtfasjvf sumsjcjfs (@jbnzzk >::5< _krbc

    Mnal nac DNK =99:). Sefrf nrf aktnmbf fxhfptjkas tk tejs, suhe ns djsefrjfs

    ja Jhfbnac, Afw Wfnbnac, nac An`jmjn, wefrf mfttfr `nanof`fat nbbkws

    sumstnatjnb rfats tk mf ofafrntfc. Mut ja tef `ngkrjty kd hnsfs, vfry bjttbf jd nay

    rfat js prkcuhfc. Xumsjstfahf nac s`nbb-shnbf djsejao ja cfvfbkpjao hkuatrjfs

    kdtfa kpfrntfs uacfr kpfa-nhhfss hkacjtjkas tent tfac tk frkcf rfskurhf rfats.

    Xk tef `ngkrjty kd djsefrjfs envf bjttbf kr ak fhkak`jh vnbuf uacfr hurrfat

    `nanof`fat.

    _ntfr

    _ntfr rfskurhfs fahk`pnss n wjcf nrrny kd sfrvjhfs, drk` crjaljao wntfr nac

    norjhubturnb wntfr tk eycrkfbfhtrjh pkwfr nac wftbnac sfrvjhfs. Eycrkpkwfr

    js kaf kd tef `jssjao rfskurhfs ja tef anturnb hnpjtnb nhhkuats. N`kao tef

    hkuatrjfs tent hkastruht nssft nhhkuats dkr anturnb hnpjtnb (cjshussfc ja henptfr 5),

    kaby Akrwny jahbucfs eycrkpkwfr ja jts wfnbte nhhkuats. Ja n hnsf stucy kd

    tef Bnk Yfkpbfs Cf`khrntjh ]fpumbjh, tef _krbc Mnal fstj`ntfc eycrkpkwfr

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    == SEF HENAOJAO _FNBSE KD ANSJKAX

    ns pnrt kd tef hkuatrys wfnbte nhhkuats (_krbc Mnal =9>9h). Mut tefrf js akt

    suddjhjfat jadkr`ntjka nhrkss hkuatrjfs tk jahbucf eycrkpkwfr ja tef wfnbte

    nhhkuats nt tejs tj`f.Sef bnrofst usf kd wntfr js ns na japut tk norjhubturf, nac ja `kst jastnahfs

    norjhubturnb wntfr ckfs akt envf n `nrlft prjhf.>8Orkwjao rfbjnahf ka senrfc,

    jatfrantjkanb wntfr rfskurhfs nac cfpbftjka kd orkuacwntfr nrf `ngkr hkahfras

    nac wnrrnat hbksf `kajtkrjao. Sef vnbuf kd orkuacwntfr js jahkrpkrntfc ja tef

    vnbuf kd norjhubturnb bnac, mut jt js akt fxpbjhjt ja tef anturnb hnpjtnb nhhkuats.

    Sef vnbuf kd ktefr wntfr rfskurhfs `ny akt mf dubby rfdbfhtfc ja bnac vnbufs.

    _ftbnac fhksystf` sfrvjhfs nac tef rfhrfntjkanb vnbuf kd wntfr mkcjfs nrf nt

    bfnst pnrtby hnpturfc ja bnac nac prkcuhfc hnpjtnb, wejhe jahbucfs rfsjcfatjnb nac

    rfhrfntjkanb prkpfrtjfs, mut tef vnbufs nrf bjlfby tk mf uacfrfstj`ntfc ns cfshrjmfc

    ja tef sfhtjka mfbkw ka fhksystf` sfrvjhfs. _ntfr pksfs na fspfhjnbby cjddjhubt

    henbbfaof dkr wfnbte nhhkuatjao mfhnusf tef vnbufs nrf ejoeby sjtf-spfhjdjh. Sefrf

    envf mffa `nay hnsf stucjfs kd tef vnbuf kd wntfr sfrvjhfs, mut tefy nrf akt rfncjby

    shnbfc up tk tef antjkanb bfvfb.>3

    Ykbbutjka nac Cn`nofs tk Eu`na Efnbte

    Ncgustfc aft snvjao jahbucfs n `fnsurf kd tef eu`na efnbte cn`nof drk` pnrtjh-

    ubntf njr pkbbutjka. Sef hkrrfspkacjao hnpjtnb nssft nddfhtfc my pkbbutjka js eu`nahnpjtnb, wejhe js pnrt kd jatnaojmbf hnpjtnb ja tef wfnbte nhhkuats. Ykbbutjka

    cn`nof js j`pbjhjtby jahbucfc ja tef jatnaojmbf hk`pkafat kd tktnb wfnbte.

    Fhksystf` Xfrvjhfs

    Sef @jbbfaaju` Fhksystf` Nssfss`fat (=998) hbnssjdjfc nbb fhksystf` sfrvjhfs

    jatk dkur mrknc hntfokrjfs7 prkvjsjkajao, hubturnb nac rfhrfntjkanb, rfoubntjao, nac

    suppkrtjao sfrvjhfs. Yrkvjsjkajao nac hubturnb/rfhrfntjkanb sfrvjhfs nrf `kstby

    teksf tent wf usf cjrfhtby nac rfhkoajzf na fhkak`jh vnbuf dkr, suhe ns dkkc,djmfr, tj`mfr, nac tkurjs`. @kst kd tef prkvjsjkajao sfrvjhfs (wjte tef fxhfptjka

    kd djsefrjfs nac sk`f wntfr sfrvjhfs) nrf jahbucfc fxpbjhjtby ja tef wfnbte nhhkuats

    ja tef dkr` kd norjhubturnb bnac nac dkrfst bnac vnbufs tent prkcuhf dkkc, djmfr,

    tj`mfr, akatj`mfr dkrfst prkcuhts, nac sk ka.

    ]foubntjao nac suppkrtjao sfrvjhfs envf vnbuf mfhnusf tefy hkatrjmutf jacj-

    rfhtby tk tef prkcuhtjka kd okkcs nac sfrvjhfs tent envf fhkak`jh vnbufs. Dkr

    fxn`pbf, pkbbjantjka sfrvjhfs kr orkuacwntfr sfrvjhfs nrf vnbunmbf ns japuts tk

    norjhubturf. @nay kd tefsf sfrvjhfs nrf nbrfncy jahbucfc ja tef vnbuf kd bnac nssfts,mut mfhnusf tefy nrf kaby j`pbjhjt, suppkrtjao went wf vnbuf jacjrfhtby, tefjr

    vnbufs nrf ejccfa. Dkr fxn`pbf, tef vnbuf kd anturnb pkbbjantkrs kr orkuacwntfr

    js jahkrpkrntfc ja tef vnbuf kd norjhubturnb bnac.

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    JAS]KCVHSJKA NAC @NJA DJACJAOX7 SEF HENAOJAO _FNBSE KD ANSJKAX =8

    Kaf `jssjao fhksystf` sfrvjhf bjlfby tk mf kd orfnt fhkak`jh sjoajdjhnahf,

    pnrtjhubnrby ja ejoe-jahk`f hkuatrjfs, js tef nfsteftjh sfrvjhf prkvjcfc my anturnb

    bnacshnpfs, f`mkcjfc ja akanorjhubturnb bnac vnbufs.

    >6

    Yfkpbf nrf wjbbjao tk pnyejoe prjhfs dkr rfsjcfahfs nac, tk sk`f fxtfat, dkr hk``frhjnb prkpfrtjfs ja

    nrfns kd orfnt nfsteftjh mfnuty, suhe ns bnlfdrkat, hknstnb, kr wkkcbnac sfttjaos.

    Hnsf stucjfs envf qunatjdjfc tef vnbuf kd n ek`f wjte mfnhedrkat, dkr fxn`pbf,

    hk`pnrfc tk kaf dnrtefr drk` tef sekrf. Sef vnbuf kd tejs j`pkrtnat sfrvjhf

    kd anturnb hnpjtnb js akt jahbucfc ja tef hk`prfefasjvf wfnbte nhhkuats cuf tk

    n bnhl kd cntn. Jd tejs vnbuf wfrf jahbucfc, jt wkubc bjlfby jahrfnsf tef senrf kd

    anturnb hnpjtnb ja tktnb wfnbte, fspfhjnbby ja ejoe-jahk`f hkuatrjfs.

    Yumbjh okkcs, suhe ns hnrmka stkrnof nac mjkcjvfrsjty, pksf spfhjnb henb-

    bfaofs nac nrf akt wfbb rfprfsfatfc ja tef wfnbte nhhkuats. Sef wfnbte nhhkuats

    jahbucf na fstj`ntfc vnbuf dkr prktfhtfc nrfns, mut jt js hfrtnjaby na uacfrfs-

    tj`ntf. Yrktfhtfc nrfns prkvjcf `nay bkhnb nac obkmnb fhksystf` sfrvjhfs, mut

    tefsf nrf bnrofby aka`nrlft sfrvjhfs tent nrf cjddjhubt tk `fnsurf. Ns wjte `nay

    ktefr fhksystf` sfrvjhfs, tef vnbufs nrf ejoeby sjtf-spfhjdjh, nac hnsf stucjfs ck

    akt prkvjcf vnbufs tent hna rfncjby mf shnbfc up tk n antjkanb bfvfb. Ojvfa tefsf

    sfvfrf cntn bj`jtntjkas, tef wfnbte nhhkuats nppby went js n bkwfr mkuac ka tef

    vnbuf kd prktfhtfc nrfns7 tef kppkrtuajty hkst kd na nbtfrantjvf bnac usf, an`fby,

    norjhubturnb usf. Sejs js hfrtnjaby na uacfrfstj`ntf mfhnusf jt ckfs akt jahbucfktefr fhksystf` sfrvjhfs tent prktfhtfc nrfns ny prkvjcf, suhe ns tkurjs`, wejhe

    js kdtfa dnr `krf fhkak`jhnbby vnbunmbf tena tef norjhubturnb nbtfrantjvf, nac

    mjkcjvfrsjty, weksf vnbuf wf ck akt lakw. Sejs js n prjkrjty jssuf dkr duturf wkrl.

    Xumstjtutnmjbjty n`kao Cjddfrfat Sypfs kd Hnpjtnb

    Hk`prfefasjvf wfnbte nhhkuatjao hk`mjafs nbb dkr`s kd wfnbte jatk n sjaobf

    `fnsurf tent nssu`fs n vfry ejoe cforff kd sumstjtutnmjbjty n`kao cjddfrfat

    dkr`s kd hnpjtnb. Xuhe n `fnsurf ckfs akt hkavfy tef vfry rfnb bj`jts tk sumstj-tutnmjbjty, j`pfacjao terfsekbcs dkr anturnb hnpjtnb, kr pkssjmbf jrrfvfrsjmjbjtjfs

    nac hntnstrkpejh fvfats. Ojvfa tef pkkr stntf kd `nay kd tef wkrbcs fhksys-

    tf`s, tefsf nrf sfrjkus hkahfras (@jbbfaaju` Fhksystf` Nssfss`fat =998).

    Ja nccjtjka, fhkak`jh sustnjanmjbjty js akt tef sn`f ns eu`na wfbb-mfjao.

    Nbtekuoe tef vnbuf kd hk`prfefasjvf wfnbte `ny mf sj`jbnr dkr hkuatrjfs, tef

    wfbb-mfjao kd hjtjzfas `ny mf qujtf cjddfrfat, cuf tk dnhtkrs suhe ns hubturnb

    hnpjtnb tent hnaakt mf jahkrpkrntfc ja fhkak`jh vnbufs. N `ngkr rfvjfw kd

    hurrfat `fnsurfs kd fhkak`jh pfrdkr`nahf suhe ns OCY my Xtjobjtz, Xfa,nac Djtkussj (=99:) cjshussfs tefsf jssufs< cfspjtf tef bj`jtntjkas, tef rfpkrt

    rfhk``facs hk`prfefasjvf wfnbte ns kaf usfdub jacjhntkr kd fhkak`jh

    pfrdkr`nahf.

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    =3 SEF HENAOJAO _FNBSE KD ANSJKAX

    Aktfs

    > Xtrjhtby spfnljao, skhjnb wfbdnrf js fqunb tk tef prfsfat cjshkuatfc vnbuf kd hurrfat nac

    duturf wfbb-mfjao. Sef bjal mftwffa henaof ja rfnb, hk`prfefasjvf wfnbte nac henaof jaskhjnb wfbdnrf ens mffa fstnmbjsefc ja n bnrof mkcy kd tefkrftjhnb wkrl my suhe nutekrs ns

    En`jbtka nac Hbf`fas (>:::), Cnsouptn nac @bfr (=999), nac Nsefj` nac _fjtz`na

    (=99>). Sef tefkry ens mffa tfstfc f`pjrjhnbby my Dfrrfjrn nac Tjahfat (=996) nac

    Dfrrfjrn, En`jbtka, nac Tjahfat (=995).

    = Aktf, ekwfvfr, tent tef XAN `fnsurf kd wfnbte js uhe anrrkwfr tena went js prfsfatfc

    efrf, mfhnusf tef nssft mkuacnry jahbucfs kaby prkcuhfc nssfts nac anturnb nssfts

    tent nrf sumgfht tk prkpfrty rjoets. Sef fxpnasjka kd tef nssft mkuacnry dkr anturnb

    hnpjtnb js cjshussfc ja tef Enacmkkl kd Antjkanb Nhhkuatjao7 Jatforntfc Favjrka`fatnb

    nac Fhkak`jh Nhhkuatjao, wejhe js hurrfatby uacfrokjao rfvjsjka (Vajtfc Antjkas

    ft nb. =998). 8 Aft djanahjnb nssfts nrf akt nvnjbnmbf dkr nbb hkuatrjfs. Sef jadkr`ntjka nssjsts ja tef

    nanbysjs kd jatnaojmbf hnpjtnb ja henptfr 6 nac js rfpkrtfc ja tef nppfacjxfs.

    3 Aktf tent urmna bnac js fstj`ntfc ns n sj`pbf `nrlup kd tef vnbuf kd prkcuhfc hnpjtnb. Jt

    js ofafrnbby rfpkrtfc ns pnrt kd prkcuhfc hnpjtnb ja tef noorfontfs prfsfatfc ja tejs mkkl.

    6 Serkuoekut tef mkkl, nbb wfnbte djourfs nrf rfpkrtfc ja hkastnat =996 V.X. ckbbnr prjhfs.

    Jt js j`pkrtnat tk lffp ja `jac tent wefa wf hk`pnrf wfnbte nhrkss hkuatrjfs, wf

    nrf usjao ak`janb `nrlft fxhenaof rntfs. Mfhnusf kd tejs, wfnbte ckfs akt rfdbfht tef

    purhensjao pkwfr kd tef jahk`f ofafrntfc my wfnbte ja n ojvfa hkuatry. Sk oft na jcfn

    kd tef purhensjao pkwfr kd wfnbte, wf wkubc envf tk usf purhensjao pkwfr pnrjty (YYY)fxhenaof rntfs, wejhe nrf kdtfa usfc tk hk`pnrf OCY nhrkss hkuatrjfs. Hkasfqufatby,

    tef wfnbte nhhkuats nrf `kst npprkprjntf dkr `nljao hk`pnrjskas nhrkss mrknc jahk`f

    orkups nac dkr bkkljao nt n hkuatrys wfnbte kvfr tj`fjts vkbu`f nac hk`pksjtjka

    mut nrf bfss usfdub dkr `nljao hk`pnrjskas mftwffa jacjvjcunb hkuatrjfs.

    4 Ja prjahjpbf, tef rfats hkubc mf javfstfc ja eu`na hnpjtnb kr rfafwnmbf anturnb hnpjtnb,

    mut jt js fnsjfst tk cf`kastrntf tef Enrtwjhl hkuatfrdnhtunb my nssu`jao tent nbb rfats ok

    jatk prkcuhfc hnpjtnb.

    ? Sejs ens hbfnrby henaofc sjahf tef rnpjc jahrfnsf ja dkkc prjhfs ja rfhfat yfnrs.

    5 Sef rfbfnsf kd tef Xtfra rfvjfw ka tef fhkak`jhs kd hbj`ntf henaof (Xtfra =994), tef dkurtenssfss`fat rfpkrt kd tef Jatfrokvfra`fatnb Ynafb ka Hbj`ntf Henaof (JYHH =99?), nac

    _krbc Cfvfbkp`fat ]fpkrt =9>9ka cfvfbkp`fat nac hbj`ntf henaof (_krbc Mnal =9>9m)

    ens sjoajdjhnatby rnjsfc tef prkdjbf kd hbj`ntf henaof ns n cfvfbkp`fat jssuf.

    : Sef rfskurhf hursf js nttrjmutfc tk sfvfrnb dnhtkrs, sk`f rfbntfc tk `nhrkfhkak`jh

    `nanof`fat nac sk`f tk pkbjtjhnb fhkak`y nac okvfranahf. Dkr n rfvjfw kd tef rfskurhf

    hursf bjtfrnturf, sff Drnalfb (=9>9) nac Eu`perfys, Xnhes, nac Xtjobjtz (=99?).

    >9 Xff nppfacjx N dkr cfshrjptjka kd tef cntn nac `ftekcs.

    >> Na fstj`ntf kd urmna bnac js jahbucfc uacfr prkcuhfc hnpjtnb.

    >= Fvfa nhhurntf jadkr`ntjka nmkut djse hnthe nac jts vnbuf js akt rfncjby nvnjbnmbf (_krbcMnal =9>9n).

    >8 _ntfr js fjtefr nmstrnhtfc wjtekut henrof my tef usfr kr prkvjcfc nt n hkst tent ckfs akt

    rfprfsfat vnbuf.

    >3 Jssufs rfonrcjao tef vnbuntjka kd wntfr dkr wfnbte nhhkuatjao nrf cjshussfc ja tef Vajtfc

    Antjkas djanb crndt enacmkkl ka wntfr nhhkuatjao (VAXC =994).

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    JAS]KCVHSJKA NAC @NJA DJACJAOX7 SEF HENAOJAO _FNBSE KD ANSJKAX =6

    >6 Fvfa bnac hbnssjdjfc ns norjhubturnb `ny mf sj`ubtnafkusby usfc dkr rfhrfntjka. Sef

    nccjtjkanb nfsteftjh nac rfhrfntjkanb vnbufs nrf akt rfdbfhtfc ja tef vnbuf kd norjhubturnb

    bnac, wejhe js mnsfc ka tef vnbuf kd norjhubturnb prkcuhtjka. Sejs `jssjao vnbuf `ny mf

    pnrtjhubnrby j`pkrtnat ja sk`f cfvfbkpfc hkuatrjfs.

    ]fdfrfahfs

    Sef Naobk-Xnxka Herkajhbf. =996. Srnas. Gn`fs Jaorn`. Fc. Gn`fs E. Dkrc. Fb Ynsk7 Fb Ynsk

    Akrtf Yrfss.

    Nrrkw, L., Y. Cnsouptn, nac L-O. @bfr. =998. Fvnbuntjao Yrkgfhts nac Nssfssjao Xustnjanmbf

    Cfvfbkp`fat ja J`pfrdfht Fhkak`jfs. Favjrka`fatnb nac ]fskurhf Fhkak`jhs=4 (3)7

    43?56.

    Nsefj`, Ofjr M., nac @nrtja B. _fjtz`na. =99>. Ckfs AAY Orkwte Jacjhntf _fbdnrf

    J`prkvf`fat; Fhkak`jhs Bfttfrs?8 (=)7 =888:.

    Cnsouptn, Y., nac L.-O. @bfr. =999. Aft Antjkanb Yrkcuht, _fnbte, nac Xkhjnb _fbb-Mfjao.

    Favjrka`fat nac Cfvfbkp`fat Fhkak`jhs67 4::8.

    , fcs. =993. Sef Fhkak`jhs kd Aka-Hkavfx Fhksystf`s. Ckrcrfhet, Aftefrbnacs7 Lbuwfr

    Nhncf`jh Yumbjsefrs.

    Furkpfna Hk``jssjka, Jatfrantjkanb @kaftnry Duac, Kronajsntjka dkr Fhkak`jh

    Hk-kpfrntjka nac Cfvfbkp`fat, Vajtfc Antjkas, nac _krbc Mnal. =99:. Xystf` kd

    Antjkanb Nhhkuats =995. Afw Zkrl7 Vajtfc Antjkas.

    DNK (Dkkc nac Norjhubturnb Kronajzntjka). =99:. Sef Xtntf kd _krbc Djsefrjfs nac Nqunhubturf

    =995.]k`f7 DNK Djsefrjfs nac Nqunhubturf Cfpnrt`fat.

    Dfrrfjrn, X., L. En`jbtka, nac G. Tjahfat. =995. Hk`prfefasjvf _fnbte nac Duturf

    Hkasu`ptjka7 Nhhkuatjao dkr Ykpubntjka Orkwte. _krbc Mnal Fhkak`jh ]fvjfw==7

    =8835.

    Dfrrfjrn, X., nac G. Tjahfat. =996. Ofaujaf Xnvjaos7 Bfncjao Jacjhntkr kd Xustnjanmbf

    Cfvfbkp`fat; Fhkak`jh Cfvfbkp`fat nac Hubturnb Henaof687 ?8?63.

    Drnalfb, Gfddrfy N. =9>9. Sef Anturnb ]fskurhf Hursf7 N Xurvfy. AMF] _krljao Ynpfr

    >6584, Antjkanb Murfnu kd Fhkak`jh ]fsfnrhe, Hn`mrjcof, @N. ettp7//www.amfr.kro/

    pnpfrs/w>6584.

    En`jbtka, L., nac @. Hbf`fas. >:::. Ofaujaf Xnvjaos ]ntfs ja Cfvfbkpjao Hkuatrjfs._krbc Mnal Fhkak`jh ]fvjfw>8 (=)7 88864.

    En`jbtka, L., nac F. Bfy. =9>9. @fnsurjao Antjkanb Jahk`f nac Orkwte ja ]fskurhf-]jhe,

    Jahk`f-Ykkr Hkuatrjfs. Fhkak`jh Yrf`jsf =5. ettp7//sjtfrfskurhfs.wkrbcmnal.kro/

    JASY]F@AFS/]fskurhfs/FY=5.pcd.

    Enrtwjhl, Gkea @. >:??. Jatfrofafrntjkanb Fqujty nac tef Javfstjao kd ]fats drk`

    Fxenustjmbf ]fskurhfs. N`frjhna Fhkak`jh ]fvjfw447 :?=?3.

    Eu`perfys, @nhnrtna, Gfddrfy Xnhes, nac Gksfpe Xtjobjtz, fcs. =99?. Fshnpjao tef ]fskurhf

    Hursf. Afw Zkrl7 Hkbu`mjn Vajvfrsjty Yrfss.

    JYHH (Jatfrokvfra`fatnb Ynafb ka Hbj`ntf Henaof). =99?. JYHH Dkurte Nssfss`fat ]fpkrt7Hbj`ntf Henaof =99?. Ofafvn7 JYHH.

    Bj, Enjzefao, Mnrmnrn @. Drnu`faj, Wejqjnao Bju, nac Ujnkgua _nao. =99:. Eu`na Hnpjtnb ja

    Hejan. AMF] _krljao Ynpfr >6699, Antjkanb Murfnu kd Fhkak jh ]fsfnrhe, Hn`mrjcof, @N.

    @jbnzzk, @. >::5. Xumsjcjfs ja _krbc Djsefrjfs7 N ]f-fxn`jantjka. _krbc Mnal Sfheajhnb

    Ynpfr 394, _krbc Mnal, _nsejaotka, CH.

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    =4 SEF HENAOJAO _FNBSE KD ANSJKAX

    @jbbfaaju` Fhksystf` Nssfss`fat. =998. Fhksystf`s nac Eu`na _fbb-mfjao7 N Drn`fwkrl

    dkr Nssfss`fat. _nsejaotka, CH7 Jsbnac Yrfss.

    Xkbkw, ]. >:54. Ka tef Jatfrofafrntjkanb Nbbkhntjka kd Anturnb ]fskurhfs. Xhnacjanvjna

    Gkuranb kd Fhkak`jhs55 (>)7 >3>3:.

    Xtfra, Ajhekbns. =994. Sef Fhkak`jhs kd Hbj`ntf Henaof7 Sef Xtfra ]fvjfw. Yrfpnrfc dkr tef

    V.L. Okvfra`fat. Afw Zkrl7 Hn`mrjcof Vajvfrsjty Yrfss.

    Xtjobjtz, Gksfpe F., N`nrtyn Xfa, nac Gfna-Ynub Djtkussj. =99:. ]fpkrt my tef Hk``jssjka ka

    tef @fnsurf`fat kd Fhkak`jh Yfrdkr`nahf nac Xkhjnb Yrkorfss. Ynrjs7 Hk``jssjka ka tef

    @fnsurf`fat kd Fhkak`jh Yfrdkr`nahf nac Xkhjnb Yrkorfss.

    Vajtfc Antjkas, Furkpfna Hk``jssjka, Jatfrantjkanb @kaftnry Duac, Kronajsntjka dkr

    Fhkak`jh Hk-kpfrntjka nac Cfvfbkp`fat, nac _krbc Mnal. =998. Enacmkkl kd Antjkanb

    Nhhkuatjao7Jatforntfc Favjrka`fatnb nac Fhkak`jh Nhhkuatjao =998. Afw Zkrl7 Vajtfc

    Antjkas. ettp7//uastnts.ua.kro/uasc/favnhhkuatjao/sffn.nsp.VAXC (Vajtfc Antjkas Xtntjstjhs Cjvjsjka). =994. Xystf` kd Favjrka`fatnb-Fhkak`jh

    Nhhkuatjao dkr _ntfr. Djanb crndt.

    _krbc Mnal. =994. _efrf Js tef _fnbte kd Antjkas; @fnsurjao Hnpjtnb dkr tef =>st

    Hfatury. _nsejaotka, CH7 _krbc Mnal. ettp7//uastnts.ua.kro/uasc/favnhhkuatjao/

    XFFN_Crndt @naunb.pcd.

    . =9>9n. Sef Ejccfa Enrvfsts7 Sef Obkmnb Hkatrjmutjka kd Hnpturf Djsefrjfs. _nsejaotka,

    CH7 _krbc Mnal.

    . =9>9m. _krbc Cfvfbkp`fat ]fpkrt =9>97 Cfvfbkp`fat nac Hbj`ntf Henaof.

    _nsejaotka, CH7 _krbc Mnal.. =9>9h. Bnk YC] Cfvfbkp`fat ]fpkrt7 Anturnb ]fskurhf @nanof`fat dkr

    Xustnjanmbf Cfvfbkp`fat. _krbc Mnal, _nsejaotka, CH.

    _krbc Mnal nac DNK (Dkkc nac Norjhubturf Kronajzntjka). =99:. Sef Xualfa Mjbbjkas7 Sef

    Fhkak`jh Gustjdjhntjka dkr Djsefrjfs ]fdkr`._nsejaotka, CH7 _krbc Mnal.

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    SEJX HENYSF] SFBBX SEF XSK]Z KD _FNBSE NAC EK_ JS

    henaofs kvfr tj`f, crnwjao kut bfsskas dkr cfvfbkp`fat. _f stnrt my hk`pnrjao

    hk`prfefasjvf wfnbte kvfr sfvfrnb wjcfby spnhfc jatfrvnbs tk uacfrstnac ekw

    tef vkbu`f nac hk`pksjtjka kd wfnbte henaof wjte cfvfbkp`fat nac pkpu-

    bntjka orkwte. _f tefa tura tk ncgustfc aft snvjao tk uacfrstnac mfttfr tef

    prkhfss kd mujbcjao wfnbte ka na naaunb mnsjs. Sefsf twk `fnsurfs prkvjcf

    rfbntfc wnys kd nanbyzjao henaofs ja skhjnb wfbdnrf nac hk`pbf`fatnry jadkr-

    `ntjka dkr pkbjhy `nlfrs sffljao tk oujcf tefjr hkuatry ka n pnte kd sustnjanmbf

    cfvfbkp`fat.

    Henaojao Obkmnb _fnbte

    Obkmnb wfnbte rfnhefc $4?8,6:8 mjbbjka ja =996 (tnmbf =.>).>Jatnaojmbf hnpjtnb wns

    tef bnrofst sjaobf hk`pkafat ja nbb rfojkas, nac jts senrf jahrfnsfs ja j`pkrtnahf

    wjte rjsjao jahk`f, drk` 6? pfrhfat kd tktnb wfnbte ja bkw-jahk`f hkuatrjfs tk

    5> pfrhfat ja ejoe-jahk`f hkuatrjfs. _f sff n sy``ftrjhnb cfhbjaf ja tef j`pkr-tnahf kd anturnb hnpjtnb ns jahk`f rjsfs, drk` 89 pfrhfat ja bkw-jahk`f hkuatrjfs

    tk = pfrhfat ja ejoe-jahk f hkuatrjfs. Mut ckfs tejs nppnrfat rfbntjkasejp mftwffa

    tef hk`pksjtjka kd wfnbte nac jahk`f, sffa wefa hk`pnrjao cjddfrfat rfojkas

    H E N Y S F ] =

    _fnbte nac Henaofs

    ja _fnbte, >::6=996

    =?

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    nt n pkjat ja tj`f, rfnbby ekbc dkr n ojvfa jahk`f orkup ns jt cfvfbkps kvfr tj`f;

    Sk naswfr tent qufstjka, wf bkkl nt kur wfnbte nhhkuats drk` >::6 tk =996.=

    Obkmnb wfnbte jahrfnsfc my 83 pfrhfat kvfr tef cfhncf (tnmbf =.=). Nbb jahk`forkups jahrfnsfc tefjr hnpjtnb mftwffa >::6 nac =996, nac tefrf ens mffa bjttbf

    henaof ja tef cjstrjmutjka kd wfnbte kvfr tj`f. Sef `ngkrjty kd obkmnb wfnbte

    js hkahfatrntfc ja ejoe-jahk`f hkuatrjfs kd tef Kronajsntjka dkr Fhkak`jh

    Hk-kpfrntjka nac Cfvfbkp`fat (KFHC), nbtekuoe jts senrf cfhbjafc sbjoetby

    drk` 53 pfrhfat tk 5= pfrhfat. Bkw- nac `jccbf-jahk`f hkuatrjfs snw tefjr

    hk`mjafc senrf orkw drk` >3 pfrhfat tk >? pfrhfat< cfspjtf rnpjc nhhu`ubntjka

    kd wfnbte, tefjr senrf kd wfnbte js stjbb dnr bfss tena tefjr senrf kd wkrbc pkpubntjka,

    wejhe wns 5> pfrhfat ja =996. Sef pkkrfst hkuatrjfs, nhhkuatjao dkr >9 pfrhfat

    kd obkmnb pkpubntjka, efbc kaby > pfrhfat kd obkmnb wfnbte.

    SNMBF =.>

    Sktnb _fnbte nac Xenrfs my Sypf kd Nssft nac Jahk`f Orkup, =996

    Jahk`f Orkup

    Sktnb _fnbte

    (VX$ mjbbjkas)

    Jatnaojmbf

    Hnpjtnb (%)

    Yrkcuhfc

    Hnpjtnb (%)

    Anturnb

    Hnpjtnb (%)

    Bkw jahk`f 8,6:? 6? >8 89

    Bkwfr jccbf jahk`f 65,9=8 6> =3 =6Vppfr jccbf jahk`f 3?,>58 4: >4 >6

    Ejoe jahk`f KFHC 66>,:43 5> >? =

    _krbc 4?8,6:8 ?? >5 6

    Xkurhf7Nutekrs hnbhubntjkas mnsfc ka _krbc Mnal cntn.

    Aktf7Djourfs nrf mnsfc ka tef sft kd hkuatrjfs dkr wejhe wfnbte nhhkuats nrf nvnjbnmbf drk` >::6tk =996, ns cfshrjmfc ja naafx =.>. Ejoe-jahk`f kjb fxpkrtfrs nrf akt sekwa.

    SNMBF =.=

    Sktnb _fnbte nac Ykpubntjka, wjte Xenrfs my Jah