3

CBUD\DECE M\C@]CUD\C  ‒  MOM 2  ‒  VCGKYCJC EM @CR IK@RCR

DGUMYGCBDKGC@MR

Cbtdvdece Mvc`uctdvc Mom 2 ‒  Vcgkrcjc em `cs Ik`scs Dgtmrgcbdkgc`ms

@krmgc Vctrdbdc Dicrrc Jmzc

Ou`dk Bäscr Ydvmrc Hutdärrmz

Lugecbdòg ]gdvmrsdtcrdc em` Ãrmc Cgedgc

Mspmbdc`dzcbdòg mg Hmrmgbdc Ldgcgbdmrc

Ldgcgzcs Dgtmrgcbdkgc`ms

Ikhktã, 6= em chkstk em 9634

 9
CBUD\DECE M\C@]CUD\C  ‒  MOM 2  ‒  VCGKYCJC EM @CR IK@RCR

DGUMYGCBDKGC@MR

Mg mstm rmlmrmgtm cgc`dzcrmjks `c djpkrtcgbdc em `cs ik`scs em vc`krms y su bkjpkrtcjdmgtk,

su lugbdòg prdgbdpc` ms bcptcr edgmrk em tmrbmrks `ks buc`ms sm bkgvdmrtmg mg dgvmrsdkgdstcs c `ks

buc`ms sm `ms mgtrmhc mg rmprmsmgtcbdòg em msc dgvmrsdòg cbbdkgms. @k qum iusbcg `ks dgedvdeuks c

trcväs em mscs dgvmrsdkgms ms rmgedr su bcpdtc` c` trcgsburrdr m` tdmjpk.

 Gk ÿgdbcjmgtm `cs dgvmrsdkgms sm vmg rmprmsmgtcecs mg cbbdkgms, tcjidäg sm pumem cequdrdr

jctmrdc prdjc bkjk pkr momjp`k pmtrò`mk, krk, p`ctc mtb. M` jmrbcek em ik`scs em vc`krms mstã

cidmrtk pcrc m` pÿi`dbk mg hmgmrc`, gk gmbmscrdcjmgtm sm tdmgm qum smr jd``kgcrdk pcrc pkemr

dgvmrtdr.

]gc vmz ugc mjprmsc dgdbdc c bktdzcr mg `c Ik`sc em \c`krms, pdmrem su prdvcbdece y

buc`qudmr pmrskgc pumem tmgmr cbbmsk c `c dglkrjcbdòg ldgcgbdmrc em `c bkjpcóêc, pcrc qum mstks

 pumecg tmgmr em prdjmrc jcgk `c dglkrjcbdòg skirm `cs bkgedbdkgms skirm `cs buc`ms sm mgbumgtrc

`c bkjpcóêc y mstdjcr sd ms bkgvmgdmgtm k gk `c bkjprc em cbbdkgms. Csê jdsjk bucgek sm tdmgm

`c kpbdòg em vmgemr edbncs cbbdkgms mg m` jmrbcek yc smc pkrqum bkgsdemrcjks qum scbcjks

suldbdmgtm prkvmbnk k pkrqum `cs bkgedbdkgms mbkgòjdbcs gk skg `cs jãs lcvkrci`ms pcrc

gksktrks. Ms em cb`crcr qum m` jmrbcek iursãtd` ms icstcgtm vk`ui`m y smgsdi`m c edvmrsks lcbtkrms

skbdk-mbkgòjdbks, emgtrk em `ks buc`ms sm vmg dgb`udeks embdsdkgms pk`êtdbcs, mbkgòjdbcs,

skbdc`ms, bu`turc`ms, b`djãtdbcs, mg ldg, tkek cqum``ks qum gks clmbtm em ugc u ktrc lkrjc tcjidäg

clmbtc m` jmrbcek iursãtd`.

Vcrtm em` prkbmsk qum ugc bkjpcóêc emim trcgsburrdr pcrc dghrmscr c` jmrbcek iursãtd`, ms `c

dgsbrdpbdòg mg `ks `dstceks em `cs ik`scs em vc`krms, ekgem emim cp`dbcrsm ug prkbmsk mspmbdldbk

y juy emtc``cek mg ekgem `c bkjpcóêc sujdgdstrc tkec `c dglkrjcbdòg ldgcgbdmrc c `c ik`sc em

vc`krms y bujp`m bkg ugc smrdm em rmqudsdtks mg bucgtk c jkgtks y bcpcbdecems em `dqudemz.
 2
CBUD\DECE M\C@]CUD\C ‒  MOM 2  ‒  VCGKYCJC EM @CR IK@RCR DGUMYGCBDKGC@MR

\C@KY EM DGEDBMR EM BDMYYM

GKJIYM EM LMBNC EM BCVDUC@D_CBDÒG YMH]@CBDÒG
DGEDBCEK CBBDKGMR GMHKBDCECR
@C IK@RC BYMCBDKG (Id``kgms) EM@ JMYBCEK
Y *jcrzk 9634  963= 963< 9638
3><2 Ymhu`cec pkr `c ]RE 93,3 Id``kgms mg
(Gkjirm
Ik`sc Em Gumvc Cbtuc`) Bkjdsdòg em \c`krms trcgscbbdkgms mg prkjmedk pcrc m`
Ekw Okgms ]RE 95,92 38.59=.62 34.8<9,< 95.834,99 y Ik`sc em Bkjmrbdk
Tkra 3>38 (Dgdbdc cók 963>
Lugbdkgcjdmgtk) (RMB) 783,666 jd``kgms em cbbdkgms
Ymhu`cec pkr `c
Cskbdcbdòg em
Ik`sc Em Ukadk 3>8> Gdaamd 99= ]RE =,<3 34.389,6< 3<.49<,48 96.969,<9 Chmgtms em Ik`sc 73466 Bkjpcóêcs @dstcecs
em Ocpòg (OREC)
Ymhu`cec pkr
Cutkrdece em
Ik`sc Em @kgerms 3>63 LURM 366 ]RE 2,42 <.959,29 8.359,>2 8.<>8,88 79866 Bkjpcóêcs @dstcecs
Bkgeubtc
Ldgcgbdmrc (LBC)
Ik`sc Em Nkgh Ymhu`cec pkr `c
79266 Bkjpcóêcs @dstcecs
Ncgh ]RE 5,34 93.435,56 99.666,=< 94.434,3= Bkjdsdòg em 7]RE 3,3= id``kgms mg
Akgh Rsmgh
3435 \c`krms y
Dgemx trcgscbbdkgms
Luturks (RLB)
Ymhu`cec pkr `c
Bkjdsdòg 3==5 Bkjpcóêcs `dstcecs
Ik`sc Em Rncghcd 3446 RMMB ]RE 5,8> 2.=24,3> 2.362,<5 2.268,38 Ymhu`cekrc em`
7<245 jd``kgms em cbbdkgms
Jmrbcek em
\c`krms em Bndgc
(BRYB) Ymhu`cec
pkr `c
Krhcgdzcbdòg
Êgedbm
Ik`sc Em Ukrkgtk 3>=9 Ymhu`cekrc em`
R&V/UR^ <6 ]RE 9,94 8<5,=5 466,6= 4=4,86 73=66 Bkjpcóêcs @dstcecs
Rmbtkr em

BDcgvcmersãd
( DgDYmsK eBm )
k
Ymhu`cec pkr `c
Gcsecq 3483 Gcsecq 366 ]RE 33,<< 5.=42,98 5.><2,<9 <.24<,59 Bkjdsdòg em 75666 Bkjpcóêcs `dstcecs
\c`krms y Ik`sc 7]RE 35 id``kgms mg
em Bkjmrbdk trcgscbbdkgms
(RMB)

5
CBUD\DECE M\C@]CUD\C ‒  MOM 2  ‒  VCGKYCJC EM @CR IK@RCR DGUMYGCBDKGC@MR

Ymhu`cec pkr @c
Custrc`dcg Bkjdsdòg em
Rmburdtdms 3><3 R&V/CR^ 966 ]RE 3,5= =.94=,46 =.<<=,>6 <.6<=,36 79366 Bkjpcóêcs @dstcecs
Mxbncghm \c`krms m Dgvmrsdkgms em Custrc`dc (CRDB) Ymhu`cec pkr `c Cutkrdece Lmemrc` em Rupmrvdsdòg Ldgcgbdmrc (IcLdg) Ymhu`c
\c`krms em `c Dgedc (RMID)
Ymhu`cec pkr `c Rupmrdgtmgemgbdc Ldgcgbdmrc em Bk`kjidc (RLB)
Ik`sc Em 3<59 (prdjmrc
Lrcgalurt nkoc em EC^ ]RE 3,4= 36.852,63 33.5>3,6< 39.438,<5 7=66 Bkjpcóêcs @dstcecs
"Emutsbnm Iürsm" trcgscbbdkgms)

Ik`sc em 7=>66 Bkjpcóêcs @dstcecs

\c`krms em 3>=6 IRM RMGRM^ ]RE 9,99 9<.338,=5 9<.<9<,5< 25.6=<,>2
Ikjicy

Ik`sc em 7346 Bkjpcóêcs @dstcecs 7956 jd``kgms em cbbdk

9663 BK@BCV ]RE 6,32 3,3=2.83 3,2=3.<> 3,=32.<=
\c`krms em
Bk`kjidc

Uci`c 3 - Bkjpcrctdvk Ik`scs em \c`krms (Cutkrms, 9634)

 =
CBUD\DECE M\C@]CUD\C  ‒  MOM 2  ‒  VCGKYCJC EM @CR IK@RCR

DGUMYGCBDKGC@MR

Cgã`dsds

Ymc`dzcgek ug cgã`dsds c bdgbk (6=) em `ks êgedbms jãs rmprmsmgtctdvks eurcgtm m` pmrdkek
bkjprmgedek mgtrm m` cók 963= y 9638, pkemjks cldrjcr qum? 

M` dgedbdcekr Ekw Okgms pcrc m` cók 9638 prmsmgtò ugc jcykr rmgtcid`dece bkg rmspmbtk c

`ks bdmrrms em `ks cóks 963= y 963<, csê jdsjk m` bdmrrm em` cók 963= tuvk rmgtcid`decems ug pkbk

gmhctdvcs, prmsmgtcgek ugc icoc em -9.9. 

M` êgedbm Gdaamd 99=, eurcgtm m` cók 963= prmsmgtò vc`krms rmprmsmgtctdvks1 mg m` smhugek

smjmstrm sm vdk `mvmjmgtm rmstrdghdek pkr `c rc`mgtdzcbdòg em` jmrbcek (mstcgbcjdmgtk em `c

mbkgkjêc k edsjdgubdòg em brmbdjdmgtk ‐gkrjc`‚ em `c mbkgkjêc) , pmsm c mstk c` bdmrrm em` cók

963= prmsmgtò ug c`zc bkg rmspmbtk c` cók 9635 m` buc` bmrrò mg 3<.943,23, sdmgek `c pugtucbdòg

jãs c`tc emsem edbdmjirm em 344<. Eurcgtm `ks cóks 963< y 9638 mstm dgedbcekr bkgtdgÿk

jmokrcgek. 

M` Ncgh Rmgh Dgemx (NRD) prdgbdpc` êgedbm iursãtd` em `c Ik`sc em Nkgh Akgh, sm vm

edgcjdzcek pkr c`hugks mvmgtks pk`êtdbks, pcrc m` cók 963= sm vdk clmbtcek pkr `c emvc`ucbdòg

em` Tucg, sdtucbdòg qum scbuedò `ks jmrbceks sdg mjicrhk nc dek jmokrcgek pcrc `cs vdhmgbdcs

963<, 9638, djpu`scek prdgbdpc`jmgtm pkr m` brmbdjdmgtk em` jmrbcek csdãtdbk y su lumrtm

 pksdbdkgcjdmgtk mg `c mbkgkjêc jugedc`.

M` dgedbcekr LURM 366 jcgtdmgm su msbc`c csbmgemgtm pmsm c `c emvc`ucbdòg em `c `dirc

mstmr`dgc prmsmgtcec eurcgtm m` cók 963< y 9638, `demrc `cs suidecs mg `c rmgtc vcrdci`m murkpmc
``mhcgek c `ks 8.666 pugtks.

M` Gcsecq ms `c smhugec ik`sc em vc`krms jãs rmprmsmgtctdvc em` jmrbcek, su kpmrcbdòg ms

em lkrjc m`mbtrògdbc y sm bmgtrc prdgbdpc`jmgtm mg mjprmscs tmbgk`khdbcs. Mg `ks ÿ`tdjks cóks nc

<
CBUD\DECE M\C@]CUD\C  ‒  MOM 2  ‒  VCGKYCJC EM @CR IK@RCR

DGUMYGCBDKGC@MR

 prmsmgtcek ug brmbdjdmgtk qum ksbd`c mgtrm m` =26% y =2<%. Edbnk brmbdjdmgtk sm vm djpu`scek

 prdgbdpc`jmgtm pkr mjprmscs bkjk Cpp`m y Lcbmikka qum eurcgtm mstm pmrdkek prmsmgtcrkg
dgedbcekrms juy lcvkrci`ms emgtrk em` jmrbcek pksdbdkgãgeksm bcec vmz jãs bkjk jcrbcs em

rmlmrmgbdc, jãs sdg mjicrhk c`hugks cgc`dstcs bkgsdemrcg qum `cs cbbdkgms em mstcs eks mjprmscs

ncg c`bcgzcek su bmgdt cgtdbdpcgek pksdi`ms msbmgcrdks c`hk turiu`mgtks pcrc edbncs mjprmscs.

Bkgb`usdkgms

@cs Ik`scs em \c`krms rmprmsmgtcg ug ms`ciòg djpkrtcgtm mg `c mbkgkjêc jugedc`, pums pkr

ugc pcrtm pmrjdtmg qum `cs mjprmscs pumecg bkgsmhudr rmbursks pcrc `c mombubdòg em prkhrcjcs y
 prkbmsks, csê bkjk su mxpcgsdòg y brmbdjdmgtk, pkr ktrc pcrtm, pmrjdtmg bkgtrk`cr y/k jkgdtkrmcr

m` bkjpkrtcjdmgtk em` jmrbcek, rczòg pkr `c buc`, ästcs pmrjcgmbmg mg bkgstcgtm vdhd`cgbdc y

bkgtrk` pkr mgtms huimrgcjmgtc`ms. Mg hmgmrc` bcec pcês pksmm pkr `k jmgks ugc Ik`sc em

\c`krms, `cs buc`ms dgtmrcbtÿcg mgtrm `ks jmrbceks `kbc`ms y mxtrcgomrks.

@c edgãjdbc y kpmrcbdòg em `cs ik`scs em vc`krms sm vmg clmbtcecs smrdcjmgtm pkr ug sdg

gÿjmrk em sdtucbdkgms pk`êtdbcs, skbdc`ms, bu`turc`ms, mbkgòjdbcs m dgb`usk cjidmgtc`ms, pums ug

sdjp`m bcjidk mg m` jmrbcek `kbc` k mxtrcgomrk pumem hmgmrcr mlmbtks pksdtdvks k gmhctdvks, mg

hrcgems k pmqumócs prkpkrbdkgms, ug b`crk momjp`k ms `k kburrdek ncbm ug pcr em eêcs bkg `c

brdsds prmsmgtcec mg `c Ik`sc em Gumvc Tkra pkr m` cgugbdò em` prmsdemgtm Urujp em rmc`dzcr ug

dgbrmjmgtk mg `ks crcgbm`ms pcrc `cs djpkrtcbdkgms prkvmgdmgtms em Bndgc, csdjdsjk `c

dgsdgucbdòg em hrcvcr m` vdgk lrcgbäs emidek c qum m` prmsdemgtm Jcbrkg jcgdlmstò hrcvcjmg c
ldrjcs tmbgk`òhdbcs, mstk ms sk`k ug momjp`k em bòjk ugc sdtucbdòg pk`êtdbc pumem rmprmsmgtcr ug

hk`pm c `c mstcid`dece em `c mbkgkjêc y em` jmrbcek.

8
CBUD\DECE M\C@]CUD\C  ‒  MOM 2  ‒  VCGKYCJC EM @CR IK@RCR

DGUMYGCBDKGC@MR

@c mbkgkjêc em ug pcês pumem vmrsm rmprmsmgtcec mg m` bkjpkrtcjdmgtk em su Ik`sc

em

\c`krms, b`crk mstã, qum mstk ms pksdi`m sd y sk`k sê, mg m``c mstã `c jcykr bcgtdece em smbtkrms
mbkgòjdbks y sd sm rmc`dzc ugc rmhu`cbdòg bkgsdmgtm y rmspkgsci`m pkr pcrtm em `ks mgtms em

bkgtrk`.

Ymlmrmgbdcs

IRM @te. (9634). IRM Mxpmrdmgbm tnm Gmw . Kitmgdek em nttps?//www.ismdgedc.bkj/

UR^ Dgb. (9634). UJ^ Unm Luturm ds Tkurs tk Rmm. Kitmgdek em nttps?//www.tjx.bkj/

CR^ @djdtme . (9634).  CR^  . Kitmgdek em nttps?//www.csx.bkj.cu/

Cutkrms. (Chkstk em 9634).

Icgbk Id`ick \dzbcyc Crhmgtcrdc, R.C. (3= em 62 em 963>).  @cs hrcgems Ik`scs em` jugek .

Kitmgdek em nttps?//www.iivc.bkj/ms/hrcgems-ik`scs-jugek/

IrkamrKg`dgm. (9634). @cs Ik`scs em vc`krms jãs djpkrtcgtms em` jugek | Huêc 9634. Kitmgdek

em nttps?//www.irkamrkg`dgm.ms/ik`scs-jugedc`ms/

I\B. (9634). Ik`sc em \c`krms em Bk`kjidc . Kitmgdek em nttp?//www.ivb.bkj.bk/gumvc/

Emutsbnm Iürsm. (9634). Ndstkry kl tnm Lrcgalurt Rtkba Mxbncghm. Kitmgdek em

nttps?//www.emutsbnm-ikmrsm-bcsn-jcramt.bkj/eibj-mg/cikut-us/kur-

cpprkcbn/ndstkry- kl-tnm-lrcgalurt-stkba-mxbncghm

Edgmrk. (98 em 65 em 9638). »Em buãgtk ms `c bcpdtc`dzcbdòg iursãtd` em `c ik`sc em Gumvc Tkra;  
Kitmgdek em nttps?//www.edgmrk.bkj/medbdkg-djprmsc/`c-hrcldbc/crtdbu`k/bcpdtc`dzcbdkg-
  iursctd`-em-`c-ik`sc-em-gumvc-ykra/955=26

>
CBUD\DECE M\C@]CUD\C  ‒  MOM 2  ‒  VCGKYCJC EM @CR IK@RCR

DGUMYGCBDKGC@MR

M` Bkjmrbdk. (68 em 64 em 9638). UKV 36? @cs ik`scs em vc`krms jãs djpkrtcgtms em` jugek .

Kitmgdek em nttps?//m`bkjmrbdk.pm/mspmbdc`/zkgc-mombutdvc/gmhkbdks/tkp-36-ik`scs-
vc`krms-jcs-djpkrtcgtms-jugek-gktdbdc-34499>>

M` UDmjpk. (64 em 64 em 3444).  @c Rmeubbdòg Em` Gmw Tkra Rtkba Mxbncghm . Kitmgdek em

nttps?//www.m`tdmjpk.bkj/crbndvk/ekbujmgtk/JCJ-42>95=

Nkgh Akgh Mxbncghms cge B`mcrdgh @djdtme. (9634).  NAM^.  Kitmgdek em

nttps?//www.namx.bkj.na/;sb[`cgh:mg

DH Hrkup. (95 em 36 em 963>). »Buã`ms skg `cs ik`scs jãs djpkrtcgtms em` jugek;  Kitmgdek em

nttps?//www.dh.bkj/ms/mstrctmhdcs-em-trcedgh/-buc`ms-skg-`cs-ik`scs-jcs-djpkrtcgtms-em`-

jugek--3>363=

Dgtmrbkgtdgmgtc` Mxbncghm, Dgb. (9634). GTRM  . Kitmgdek em nttps?//www.gysm.bkj/dgemx

Dgvmstdgh. (9634). Ymhu`cekrms ldgcgbdmrks . Kitmgdek em

nttps?//ms.dgvmstdgh.bkj/irkamrs/rmhu`ctdkg

Ocpcg Mxbncghm Hrkup, Dgb. (9634). OV^ Ocpcg Mxbncghm Hrkup . Kitmgdek em

nttps?//www.opx.bk.op/mgh`dsn/

@kgekg Rtkba Mxbncghm p`b. (9634). @kgekg Rtkba Mxbncghm . Kitmgdek em

nttps?//www.`kgekgstkbamxbncghm.bkj/nkjm/nkjmpchm.ntj

 Gcsecq, Dgb. (9634).  Gcsecq. Kitmgdek em nttps?//gmw.gcsecq.bkj/

Ycgadc R.@. (65 em 6= em 9638). Vrdgbdpc`ms ik`scs em vc`krms em` jugek y sus dgedbcekrms.
 Kitmgdek em nttps?//www.rcgadc.b`/i`kh/cgc`dsds-dpsc/2==8<54-prdgbdpc`ms-ik`scs-vc`krms-

jugek-sus-dgedbcekrmsYcgadc

4
CBUD\DECE M\C@]CUD\C  ‒  MOM 2  ‒  VCGKYCJC EM @CR IK@RCR

DGUMYGCBDKGC@MR

Rncghncd Rtkba Mxbncghm. (9634). RRM Rncghncd Rtkba Mxbncghm. Kitmgdek em

nttp?//mgh`dsn.ssm.bkj.bg/
RtkbaJcramtB`kba. (Chkstk em 9634). @dst kl Rtkba Mxbncghms. Kitmgdek em

nttps?//www.stkbajcramtb`kba.bkj/mxbncghms