экономический анализ политики комплексного оперативного
advertisement
!" 332.14:658.153(470.53)
.!. "#$%&'()*+
!"#$%&' ()$*+,"$-.!//0' -!1/&2!$%&' */&.!"$&-!-
,-./.012 3-14 !/!516 7.51"1-1
-.075 -3/.8. .7 9!"1:/.8. ;79!:5 /1<
.=.9."/>0 -!71"!5.0 -9;7/>? 1 39 @/1?
79 @791<"14 7 903-.8. -9!<
"!+$-,.3!/0 "!4*35-,-0 6%)/)#&2!$%)() ,/,3&4, 7)3&-&%& %)#73!%$/)() )7!",-&./)()
*7",.3!/&8 )9)")-/0# %,7&-,3)# %"*7/01 & $"!+/&1 7"!+7"&8-&' .!+*:&1 )-",$3!' !"#$%)()
%",8 (#,;&/)$-")!/&!, +)902, 7)3!4/01 &$%)7,!#01, 1&#&2!$%)! 7")&4.)+$-.), #!-,33*"(&2!$%)! 7")&4.)+$-.), 63!%-")6/!"(!-&%,, -",/$7)"-, $-")&-!35$-.)) 4, 2005–2007 ((. <$7)354).,/0
#)+!3& )-!2!$-.!//01 & 4,"*9!=/01 ,.-)")., 7").!+!/, &1 $",./&-!35/,8 )>!/%,. ?@)"#*3&").,/) 4,%3A2!/&! )9 ,+!%.,-/)$-& 7"&#!/8!#)' 7)3&-&%& *7",.3!/&8 )9)")-/0# %,7&-,3)#
$)."!#!//0# 6%)/)#&2!$%&# *$3).&8#.
!"#"$%&'(!%) *#*+%,, -%#*#("./) $'#'01$'#2, !3*2!"(3"&#*4 -%#*#(".*4 5"+%2%!*,
653*.+'#%' "7"3"2#/$% *!2%.*$%, 653*.+'#%' "7"3"2#/$ !*5%2*+"$.
#$%&%'()*+$,- &*+.,/(01&%+.1 2&*3&*4 +5*67 '&%8%$5,.&% 9+(0(2,*.
5(+$ 9.5,.7 :5*6:5(-.(-'( 0($2(6&%+.( ( :0,.*;*+:%+%/&%+.(. < +2-=(
c >.(' %+%/9? ,$.9,01&%+.1 :5(%/5*.,*. :%0(.($, 9:5,20*&(- %/%5%.&7'
$,:(.,0%' :5*6:5(-.(4 ( ** ,6*$2,.&%+.1 +%+.%-&(? ( 6(&,'($* @,$.%5%2
2&*3&*4 ( 2&9.5*&&*4 +5*67.
A%6 ! " #$%& '()*#(+ & :%&(',?.+- (&2*+.(B(( %58,&(=,B((
2 %/%5%.&7* ,$.(27 (..*. 2 .*$9C(* ,$.(27, 2$0?),?C(* 6*&*;&7* +5*6+.2,,
0*8$%5*,0(=9*'7* B*&&7* /9',8(, .%2,5&%-',.*5(,01&7* =,:,+7 ( 6*/(.%5+$9? =,6%0;*&&%+.1) [1, 5, 7, 9]. A%0(.($, 9:5,20*&(- %/%5%.&7' $,:(.,0%',
-20--+1 +%+.,2&%4 ),+.1? %/C*4 @(&,&+%2%4 :%0(.($( :5*6:5(-.(-, :5*6:%0,8,*. &,0()(* +9/D*$.(2&%8% ( %/D*$.(2&%8% &,),0, 2 :5%B*++* ** 5,=5,/%.$(
( 5*,0(=,B((. < $,)*+.2* ,-!./'# 0 >.%4 :%0(.($( &, 5,=&7E 95%2&-E 9:5,20*&(- 27+.9:,?. 9)5*6(.*0(, '*&*6;'*&. :5*6:5(-.(-, +:*B(,0(+.7 *8% @(&,&+%27E ( ?5(6()*+$(E +09;/. "59:&7'( :5*6:5(-.(-'( 60- B*0*4 5,=5,/%.$( ( %:.('(=,B(( :%0(.($( 9:5,20*&(- %/%5%.&7' $,:(.,0%' '%89. :5(20*$,.1+- 2&*3&(* >$+:*5.7 (0( $%&+901.,&.7. 1!./'# & :%0(.($( $%':0*$+&%8% %:*5,.(2&%8% 9:5,20*&(- %/%5%.&7' $,:(.,0%' -20-*.+- +%B(,01&%->$%&%'()*+$,- +(+.*', ( ** 6*-.*01&%+.1 2% 2=,('%+2-=( + @(&,&+%27'
+%+.%-&(*', @(&,&+%27'( 5*=901.,.,'( ( 6*&*;&7' %/%5%.%'. < $,)*+.2*
)"/2&/#( 27+.9:,?. 2&9.5(@(5'*&&7* ( '*;E%=-4+.2*&&7* @(&,&+%27*
:5%B*++7, %.&%3*&(- ( %:*5,B((, 2$0?),- :5%(=2%6+.2*&&7* :5%B*++7, %/5,=9?C(* @(&,&+%27* :%.%$( ( %:5*6*0-?C(* .*$9C** @(&,&+%2%* +%+.%-&(*
( @(&,&+%27* 5*=901.,.7 6*-.*01&%+.( :5*6:5(-.(-, *8% 5,+)*.&7* %.&%3*40
&(-, +:%+%/&%+.1 :5(20*$,.1 (&2*+.(B((, 5*3,.1 2%:5%+7 :5(%/5*.*&(- ( 27:9+$, B*&&7E /9',8 ( ..:. F+&%2&7'( 3/+4&* $%':0*$+&%8% %:*5,.(2&%8%
9:5,20*&(- %/%5%.&7' $,:(.,0%' -20-?.+-: %/*+:*)*&(* +%/0?6*&(- 85,@($,
:5%(=2%6+.2,, %/*+:*)*&(* +.,/(01&%+.( +/7.,, +2*6*&(* $ '(&('9'9 5,+E%6%2 &, .*$9C** @(&,&+(5%2,&(*, %/*+:*)*&(* 0($2(6&%+.( :5*6:5(-.(-.
A%0(.($, 9:5,20*&(- %/%5%.&7' $,:(.,0%' %:5*6*0-*. &* .%01$% 95%2*&1 @(&,&+%2%4 9+.%4)(2%+.( ( 0($2(6&%+.( :5*6:5(-.(4, &% ( 95%2*&1 +%B(,01&%->$%&%'()*+$%4 &,:5-;*&&%+.(, =,&-.%+.(, =,5,/%.&%4 :0,.7 5,/%.&($%2, +.,/(01&%+.( 27:%0&*&(- +%B(,01&7E 8,5,&.(4 ( ..6. G, 5*8(%&,01&%'
95%2&* /%0139? 5%01 (85,*. %/*+:*)*&(* @(&,&+%2%4 9+.%4)(2%+.( $59:&7E
( +5*6&(E :5*6:5(-.(4, +9C*+.2*&&% 20(-?C(E &, +%B(,01&%->$%&%'()*+$(*
:%$,=,.*0( 5*8(%&, 2 B*0%'. < 6,&&%4 5,/%.* :5*6+.,20*&7 5*=901.,.7 %B*&$(
:%0(.($( $%':0*$+&%8% %:*5,.(2&%8% 9:5,20*&(- %/%5%.&7' $,:(.,0%' $59:&7E ( +5*6&(E :5*6:5(-.(4 %.5,+0*4-«0%$%'%.(2%2» A*5'+$%8% $5,-, $ $%.%57', 2 ),+.&%+.(, %.&%+-.+- 6%/7), :%0*=&7E (+$%:,*'7E, E('()*+$%* :5%(=2%6+.2%, ',3(&%+.5%*&(*, >0*$.5%>&*58*.($,, .5,&+:%5., +.5%(.*01+.2%, '*.,00958()*+$%* :5%(=2%6+.2% [6, +. 105]. H++0*6%2,&(- :5%2%6(0(+1 :% ,85*8(5%2,&&7' 6,&&7' +.,.(+.()*+$%4 %.)*.&%+.( [10, 11] =, 2005–2007 88.
I, ,&,0(=(59*'74 :*5(%6 2 B*0%' :% A*5'+$%'9 $5,? %.'*),*.+- 5%+.
%/C*8% )(+0, :5*6:5(-.(4, , .,$;* )(+0, $59:&7E ( +5*6&(E :5*6:5(-.(4.
F6&,$% :5%+0*;(2,*.+- .*&6*&B(- $ +%$5,C*&(? 96*01&%8% 2*+, $59:&7E (
+5*6&(E :5*6:5(-.(4, ).% %/9+0%20*&% %:*5*;,?C(' 5%+.%' )(+0*&&%+.(
',07E :5*6:5(-.(4 (.,/0. 1 ( 5(+. 1).
J,/0(B, 1
!"#$!%# &!'(# %)*+",- ! ')./"!- +)./+)!01!2 3.)$'%454 %)#0
6# 2005–2007 55.
2005 8.
G,('*&%2,&(* %.5,+0(
!%/7), :%0*=&7E
(+$%:,*'7E
K('()*+$%*
:5%(=2%6+.2%
L,3(&%+.5%*&(*
L*.,00958()*+$%*
:5%(=2%6+.2%
#0*$.5%>&*58*.($,
J5,&+:%5.
M.5%(.*01+.2%
<+*8%
:% A*5'+$%'9 $5,?
2006 8.
2007 8.
2+*8%
2 ..).
2 ..).
2+*8%
2 ..).
2+*8% :5*6:5*6:5(- $59:&7E
$59:&7E :5*6:5(- $59:&7E
:5(-.(4
-.(4
( +5*6&(E
( +5*6&(E
-.(4
( +5*6&(E
49
14
62
16
70
15
66
23
81
24
90
26
157
110
56
23
201
135
56
23
203
152
54
27
158
334
860
6946
128
124
99
1670
181
444
1199
9945
139
125
96
1679
189
460
1309
10480
133
115
92
1716
41
G$!() 7)
!"#$%)#* %",A
?-")&-!35$-.)
25
F",/$7)"-
E3!%-")6/!"(!-&%,
2007
2006
D!-,33*"(&2!$%)!
7")&4.)+$-.)
2005
D,;&/)$-")!/&!
C&#&2!$%)!
7")&4.)+$-.)
21,43
B)902, 7)3!4/01
&$%)7,!#01
0
10
20
30
40
50
60
70
80
90
N(+. 1. !(&,'($, 96*01&%8% 2*+, $59:&7E ( +5*6&(E :5*6:5(-.(4
A*5'+$%8% $5,- =, 2005–2007 88.
< 5,=5*=* 27/5,&&7E %.5,+0*4-«0%$%'%.(2%2» &*%/E%6('% %.'*.(.1
5%+. )(+0, $59:&7E ( +5*6&(E :5*6:5(-.(4 2 .,$(E %.5,+0-E, $,$ 6%/7), :%0*=&7E (+$%:,*'7E, E('()*+$%* :5%(=2%6+.2%, '*.,00958()*+$%* :5%(=2%6+.2%, >0*$.5%>&*58*.($, ( +&(;*&(* (E $%0()*+.2, 2 ',3(&%+.5%*&((,
.5,&+:%5.* ( +.5%(.*01+.2*. I, (++0*69*'74 :*5(%6 %.'*),*.+- .*&6*&B(- $
+&(;*&(? 96*01&%8% 2*+, 9/7.%)&7E $59:&7E ( +5*6&(E :5*6:5(-.(4 2 B*0%' :% A*5'+$%'9 $5,? (.,/0. 2), %6&,$% %.'*),*.+- 92*0()*&(* >.%8% :%$,=,.*0- 2 .,$%4 %.5,+0(, $,$ 6%/7), :%0*=&7E (+$%:,*'7E.
5%2*&1 5*&.,/*01&%+.( $ =,.5,.,' &, :5%(=2%6+.2% ( 5*,0(=,B(?
:5%69$B(( ('*0 .*&6*&B(? $ 5%+.9 2 ',3(&%+.5%*&((, '*.,00958()*+$%'
:5%(=2%6+.2*, +.5%(.*01+.2* ( $ +&(;*&(? – 2 E('()*+$%' :5%(=2%6+.2*,
>0*$.5%>&*58*.($*, .5,&+:%5.*.
:5,20*&(* %/%5%.&7' $,:(.,0%' 2$0?),*. 2 +*/- %:5*6*0*&(* %:.(',01&%8% 95%2&- (&2*+.(B(4 2 %/%5%.&7* ,$.(27 ( &,60*;,C*8% +%%.&%3*&((+.%)&($%2 (E $5,.$%+5%)&%8% ( 6%08%+5%)&%8% @(&,&+(5%2,&(- 60- :%66*5;,&(- B*0*2%8% 95%2&- @(&,&+%2%4 9+.%4)(2%+.(, 0($2(6&%+.( ( :0,.*;*+:%+%/&%+.( :5*6:5(-.(-. A5( >.%' 276*0-?. .5( .(:, :%0(.($( 9:5,20*&(%/%5%.&7'( ,$.(2,'(: %+.%5%;&9?, %85,&()(.*01&9?, 9'*5*&&9?.
42
J,/0(B, 2
!"#$!%# */.(7"454 8.'# *9,14&",- +)./+)!01!2 ! ')./".54
*)48"0 )."1#9.(7"4'1! % 6#1)#1#$ "# +)4!684/'184 ! ).#(!6#:!;
+)4/*%:!! %)*+",- ! ')./"!- +)./+)!01!2 3.)$'%454 %)#0 6#
2005–2007 55., %
2005 8.
2006 8.
2007 8.
96. 2*+
96. 2*+ 9/796. 2*+
G,('*&%2,&(*
5*&.,5*&.,/*015*&.,/*019/7.%)&7E
.%)&7E
9/7.%)&7E
%.5,+0(
/*01&%+.1
&%+.1 =,&%+.1 =,:5*6:5(:5*6:5(:5*6:5(=,.5,.
.5,.
.5,.
-.(4
-.(4
-.(4
!%/7), :%0*=&7E (+$%:,*'7E
K('()*+$%*
:5%(=2%6+.2%
L,3(&%+.5%*&(*
L*.,00958()*+$%* :5%(=2%6+.2%
#0*$.5%>&*58*.($,
J5,&+:%5.
M.5%(.*01+.2%
<+*8% :% A*5'+$%'9 $5,?
7,1
60,6
18,8
61,6
26,7
60,7
13,0
58,3
16,7
37,6
19,2
43,9
25,0
9,4
26,8
17,8
14,8
15,0
43,5
6,0
21,7
9,1
18,5
8,7
40,6
8,5
38,8
6,0
46,6
5,8
45,2
35,4
32,5
6,5
3,9
16,1
32,0
22,9
26,4
7,2
7,9
16,0
27,8
16,3
24,9
6,1
10,1
15,3
1,# " 5$(4 ) +*#*'( :5*6:%0,8,*. :%66*5;,&(* $,;6%8% (= >0*'*&.%2 %/%5%.&7E ,$.(2%2 &, 6%+.,.%)&% 27+%$%' 95%2&*, ).% %/*+:*)(2,*. %.&%+(.*01&% 27+%$(4 95%2*&1 0($2(6&%+.( ( :%&(;*&&74 95%2*&1 @(&,&+%2%8%
5(+$,, &% +%:5-;*&, + 27+%$('( (=6*5;$,'( &, :%66*5;,&(* ( @(&,&+(5%2,&(* %/%5%.&%8% $,:(.,0,, &(=$(' 95%2&*' 5*&.,/*01&%+.( ( +%:5%2%;6,*.+60(.*01&7' :*5(%6%' %/%5%., 6*&*;&7E +5*6+.2 [1, 2, 3, 4, 5, 7, 12, 13].
16"($*7*#/+8$(4 ) +*#*'( :5*69+',.5(2,*. :%66*5;,&(* =,:,+%2, 6*/(.%5+$%4 =,6%0;*&&%+.(, 6*&*;&7E +5*6+.2 ( 27+%$%0($2(6&7E B*&&7E
/9',8 &, '(&(',01&%' 95%2&*. #., :%0(.($, %/*+:*)(2,*. %.&%+(.*01&% $%5%.$(4 %/%5%. 6*&*;&7E +5*6+.2 =, +)*. +%$5,C*&(- +5%$, %/5,C*&(- 6*/(.%5+$%4 =,6%0;*&&%+.( ( .%2,5&%-',.*5(,01&7E B*&&%+.*4, &(=$(* (=6*5;$(
&, :%66*5;,&(* ( @(&,&+(5%2,&(* %/%5%.&%8% $,:(.,0,, :%273*&&74 95%2*&1 5*&.,/*01&%+.( %/%5%.&7E ,$.(2%2, %6&,$% +%:5-;*&, + 27+%$(' 5(+$%' 9.5,.7 0($2(6&%+.( ( :0,.*;*+:%+%/&%+.( [1, 2, 3, 4, 5, 7, 12, 13].
43
9&/"/$$(4 ) +*#*'( :5*69+',.5(2,*. :%66*5;,&(* +5*6&*8% 95%2&%/%5%.&7E ,$.(2%2, +5*6&*4 60(.*01&%+.( :*5(%6, %/%5%., .*$9C(E ,$.(2%2
:5*6:5(-.(-, %/*+:*)(2,*. +5*6&(4 95%2*&1 5(+$, ( 6%E%6&%+.( [1, 2, 3, 4, 5,
7, 12, 13].
< +5*6&*' :% A*5'+$%'9 $5,? 96*01&74 2*+ %/%5%.&7E ,$.(2%2 2 %/C*4 +.%('%+.( ('9C*+.2, $59:&7E ( +5*6&(E :5*6:5(-.(4 +%+.,20-*. %$%0% 50 % (.,/0. 3).
J,/0(B, 3
!"#$!%# +4%#6#1.(.2, -#)#%1.)!6*;<!- +4(!1!%* *+)#8(."!0
494)41",$! #%1!8#$! %)*+",- ! ')./"!- +)./+)!01!2
3.)$'%454 %)#0 6# 2005–2007 55.
A*5(%6 %/%5%., %/%5%.&7E
,$.(2%2, 6&(
6*01&74 2*+ %/%5%.&7E
,$.(2%2 2 %/C*4 +.%('%+.(
('9C*+.2,, %
6*01&74 2*+ %/%5%.&7E
,$.(2%2 2 2759)$*, %
A*5(%6 %/%5%., %/%5%.&7E
,$.(2%2, 6&(
6*01&74 2*+ %/%5%.&7E
,$.(2%2 2 %/C*4 +.%('%+.(
('9C*+.2,, %
6*01&74 2*+ %/%5%.&7E
,$.(2%2 2 2759)$*, %
A*5(%6 %/%5%., %/%5%.&7E
,$.(2%2, 6&(
!%/7), :%0*=&7E (+$%:,*'7E
K('()*+$%* :5%(=2%6+.2%
L,3(&%+.5%*&(*
L*.,00958()*+$%* :5%(=2%6+.2%
#0*$.5%>&*58*.($,
J5,&+:%5.
M.5%(.*01+.2%
<+*8% :% A*5'+$%'9 $5,?
2007 8.
6*01&74 2*+ %/%5%.&7E
,$.(2%2 2 2759)$*, %
G,('*&%2,&(*
%.5,+0(
2006 8.
6*01&74 2*+ %/%5%.&7E
,$.(2%2 2 %/C*4 +.%('%+.(
('9C*+.2,, %
2005 8.
40,05
33,80
122
43,78
38,50
139
51,72
58,20
210
43,64
43,66
157
40,66
51,13
184
41,24
52,65
190
73,79
68,96
248
70,86
94,80
341
75,03
70,20
253
64,23
183,91
622
62,40
87,24
314
61,97
62,47
225
40,93
31,65
114
38,28
26,41
95
34,06
28,93
104
66,34
76,13
68,93
94,82
248
341
54,19
79,34
62,42
64,17
225
231
55,32
76,72
35,23
55,36
127
199
48,12
39,32
142
50,40
41,39
149
54,55
45,96
165
!%0- %/%5%.&7E ,$.(2%2 &(;* >.%8% 95%2&- =,@($+(5%2,&, &, :5*6:5(-.(-E >0*$.5%>&*58*.($(, E('()*+$%8% :5%(=2%6+.2, ( 6%/7)( :%0*=&7E
(+$%:,*'7E. G,(/%0** 27+%$(4 95%2*&1 %/%5%.&7E ,$.(2%2 (+273* 70 %)
%.'*),*.+- &, +.5%(.*01&7E ( ',3(&%+.5%(.*01&7E :5*6:5(-.(-E.
M5*6&-- :5%6%0;(.*01&%+.1 %/%5%., %/%5%.&7E ,$.(2%2 $59:&7E
( +5*6&(E :5*6:5(-.(4 A*5'+$%8% $5,- =, (++0*69*'74 :*5(%6 2%=5%+0, +%
44
142 6% 165 6&*4. A5( >.%' /%0** 27+%$,- %/%5,)(2,*'%+.1 %.'*),*.+- &,
:5*6:5(-.(-E, =,&(',?C(E+- 6%/7)*4 :%0*=&7E (+$%:,*'7E, ( :5*6:5(-.(-E
>0*$.5%>&*58*.($(. I, ,&,0(=(59*'74 :*5(%6 %.'*),*.+- +9C*+.2*&&%* 9+$%5*&(* %/%5,)(2,*'%+.( %/%5%.&%8% $,:(.,0, &, '*.,00958()*+$(E :5*6:5(-.(-E, :5*6:5(-.(-E +.5%(.*01&%4 %.5,+0(, .5,&+:%5.,, >0*$.5%>&*58*.($(.
!%0- %/%5%.&7E ,$.(2%2 :% %.&%3*&(? $ 2759)$* %. 5*,0(=,B(( :5%69$B(( $59:&7E ( +5*6&(E :5*6:5(-.(4 2 B*0%' :% A*5'+$%'9 $5,? 2%=5%+0,
+ 39 6% 46 %. M&(;*&(* >.%8% :%$,=,.*0- %.'*),*.+- &, '*.,00958()*+$(E,
.5,&+:%5.&7E, +.5%(.*01&7E :5*6:5(-.(-E, :5*6:5(-.(-E >0*$.5%>&*58*.($(.
I, ,&,0(=(59*'74 :*5(%6 '%;&% %.'*.(.1 +&(;*&(* 2 6(&,'($* %/%5,)(2,*'%+.( ( 5*&.,/*01&%+.( %/%5%.&7E ,$.(2%2 (5(+. 2) 2 +0*69?C(E %.5,+0-E: 6%/7), :%0*=&7E (+$%:,*'7E ( E('()*+$%* :5%(=2%6+.2%, , .,$;*
9+$%5*&(* %/%5,)(2,*'%+.( ( 5%+. 5*&.,/*01&%+.( %/%5%.&7E ,$.(2%2 &,
:5*6:5(-.(-E .5,&+:%5.,, +.5%(.*01+.2,, '*.,00958()*+$%8% :5%(=2%6+.2,.
28,94
G$!() 7)
!"#$%)#* %",A
?-")&-!35$-.)
2007
3,9
2006
F",/$7)"-
2005
8,85
19,01
21,58
24,65
E3!%-")6/!"(!-&%,
D!-,33*"(&2!$%)!
7")&4.)+$-.)
9,51
3,04
D,;&/)$-")!/&!
C&#&2!$%)!
7")&4.)+$-.)
84,29
64,95
B)902, 7)3!4/01
&$%)7,!#01
98,95
0
20
40
60
80
100
120
N(+. 2. !(&,'($, 5*&.,/*01&%+.( %/%5%.&7E ,$.(2%2 $59:&7E ( +5*6&(E
:5*6:5(-.(4 A*5'+$%8% $5,- =, 2005–2007 88.
F/%/C*&(* :%09)*&&7E 5*=901.,.%2 :%=2%0-*. +6*0,.1 272%6 % .%',
).% $59:&7* ( +5*6&(* ',3(&%+.5%(.*01&7*, '*.,00958()*+$(*, +.5%(.*01-
45
&7* :5*6:5(-.(- A*5'+$%8% $5,- 5*,0(=9?. %+.%5%;&9? :%0(.($9 9:5,20*&(- %/%5%.&7'( ,$.(2,'(, :5*6:5(-.(- >0*$.5%>&*58*.($(, E('()*+$%8%
:5%(=2%6+.2,, , .,$;* =,&(',?C(*+- 6%/7)*4 :%0*=&7E (+$%:,*'7E – 9'*5*&&9? :%0(.($9 9:5,20*&(- %/%5%.&7'( ,$.(2,'(. A*5*E%6 %. %+.%5%;&%4
$ 9'*5*&&%4 :%0(.($* 9:5,20*&(- %/%5%.&7' $,:(.,0%' %.'*),*.+- &,
$59:&7E ( +5*6&(E .5,&+:%5.&7E :5*6:5(-.(-E $5,-.
H=/5,&&%'9 .(:9 :%0(.($( 9:5,20*&(- %/%5%.&7'( ,$.(2,'( :5*6:5(-.(- 6%0;*& +%%.2*.+.2%2,.1 .(: :%0(.($( (E @(&,&+(5%2,&(-. <% (=/*;,&(* &*%:5,26,&&%8% 5(+$, ( 6%:%0&(.*01&7E (=6*5;*$ &*%/E%6('% +.5*'(.1+- $ .%'9, ).%/7 +5%$( :%8,3*&(- (+.%)&($%2 +5*6+.2 +%2:,6,0( + :5%6%0;(.*01&%+.1? ;(=&( ,$.(2%2. H&,)*, *+0( @(&,&+(5%2,&(* 6%08%+5%)&7E
,$.(2%2 :5%(=2%6(.+- =, +)*. $5,.$%+5%)&7E (+.%)&($%2, :5(E%6(.+- :%+.%-&&% (+$,.1 2%='%;&%+.( 5*@(&,&+(5%2,&(-, ).% 92*0()(2,*. .5,&=,$B(%&&7* (=6*5;$( ( @(&,&+%27* 5(+$(, ..$. &*%/E%6('7* 2 $,$%4-.% '%'*&. 6*&*;&7* +5*6+.2, '%89. %$,=,.1+- &*6%+.9:&7'( (0( 6%+.9:&7'( :% +9C*+.2*&&% /%0** 27+%$%4 B*&*. < .% ;* 25*'- @(&,&+(5%2,&(* $5,.$%+5%)&7E
&9;6 =, +)*. 6%08%+5%)&7E %/-=,.*01+.2 '%;*. :5(2*+.( .%'9, ).% (=6*5;$(
6%08%+5%)&%8% @(&,&+(5%2,&(- %$,;9.+- 273*, )*' 6%E%6 %. $5,.$%25*'*&&%8% (&2*+.(5%2,&(- ,$.(2%2.
< .*%5(( @(&,&+%2%8% '*&*6;'*&., 5,++',.5(2,*.+- &*+$%01$% .(:%2
:%0(.($( @(&,&+(5%2,&(- %/%5%.&7E ,$.(2%2, %.0(),?C(E+- 2*0()(&%4 (+:%01=9*'7E $5,.$%+5%)&7E $5*6(.%2 ( 5,='*5%' )(+.%8% %/%5%.&%8% $,:(.,0,. )(.72,- 2=,('&%* +%%.2*.+.2(* >$%&%'()*+$%4 +9.( $,.*8%5(4 «%/%5%.&7* ,$.(27» ( «$5,.$%+5%)&7* %/-=,.*01+.2,», B*0*+%%/5,=&7' -20-*.+@(&,&+(5%2,&(* .*$9C(E ,$.(2%2 =, +)*. .*$9C(E :,++(2%2. #., (6*,01&,+(.9,B(- %=&,),*. 5,2*&+.2% %/%5%.&7E ,$.(2%2 ( $5,.$%+5%)&7E %/-=,.*01+.2 (..*. )(+.74 %/%5%.&74 $,:(.,0 5,2*& &90?), &, :5,$.($* %&, :%).(
&* 2+.5*),*.+- 2 +2-=( + .*', ).% &*2%='%;&% 6%/(.1+- (6*,01&%8% +%80,+%2,&(- +5%$%2 ( 5,='*5%2 $5,.$%+5%)&7E %/-=,.*01+.2 + +%%.2*.+.29?C('
+5%$%' ( 5,='*5%' :%09)*&(- 6%E%6%2 :% .*$9C(' ,$.(2,', $%.%57* %&(
@(&,&+(59?.. "5%'* .%8%, + .%)$( =5*&(- 0($2(6&%+.(, >., +(.9,B(- -20-*.+- 6%+.,.%)&% 5(+$%2,&&%4, ..$. 2 +09),* &*/0,8%:5(-.&7E 9+0%2(4 (=,6*5;$( :%+.9:0*&(- +5*6+.2 %. 6*/(.%5%2 2 +%)*.,&(( + %/-=,&&%+.1? &*'*60*&&%8% :%8,3*&(- +)*.%2 $5*6(.%5%2) :5*6:5(-.(* %$,;*.+- :*5*6 &*%/E%6('%+.1? :5%6,;( ),+.( %+&%2&7E +5*6+.2 60- %+9C*+.20*&(- :0,.*;*4 :%
.*$9C*4 $5*6(.%5+$%4 =,6%0;*&&%+.(. H'*&&% :%>.%'9 &, :5,$.($* :5*6:5(-.(- ),C* 2+*8% 27/(5,?. %6(& (= +0*69?C(E .(:%2 :%0(.($( @(&,&+(5%2,&(- %/%5%.&7E ,$.(2%2: ,85*++(2&74, $%&+*52,.(2&74 (0( 9'*5*&&74.
46
:6"/,,*0$(4 ) +*#*'( @(&,&+(5%2,&(- :5*6:%0,8,*. &,(/%013** (+:%01=%2,&(* $5,.$%+5%)&7E $5*6(.%2 (&,('*&139? 2*0()(&9 )(+.%8% %/%5%.&%8% $,:(.,0,, 2$0?),- %.5(B,.*01&%* *8% =&,)*&(*).
; $,/"0(#*0$(4 ) +*#*'( %5(*&.(5%2,&, &, &,('*&13** (+:%01=%2,&(* $5,.$%+5%)&7E $5*6(.%2 (&,(/%0139? 2*0()(&9 )(+.%8% %/%5%.&%8% $,:(.,0,, 2$0?),- 5,2*&+.2% )(+.%8% %/%5%.&%8% $,:(.,0, ( +9''7 %/%5%.&7E
,$.(2%2).
9&/"/$$(4 ) +*#*'( %/*+:*)(2,*. +5*6&(* =&,)*&(- 6,&&7E :,5,'*.5%2.
N,++'%.5*&(* 5,=0()&7E 2,5(,&.%2 :%0(.($( @(&,&+(5%2,&(- %/%5%.&%8% $,:(.,0, :5*6:%0,8,*. :5%2*6*&(* :5*62,5(.*01&%8% 5,=6*0*&(- .*$9C(E ,$.(2%2 :% :*5(%69 (E @9&$B(%&(5%2,&(- &, 62* ),+.(:
! ) ,# 4$$(4 7(,#8 ! " #$%< ('#*0 0 – >.% ., ),+.1, $%.%5,- &*
5*,8(59*. &, +*=%&&7* ( B($0()*+$(* $%0*/,&(- 2 :5%(=2%6+.2* ( :5%6,;*
:5%69$B((, %&, &*%/E%6(', 60- 96%20*.2%5*&(- '(&(',01&7E 6%08%+5%)&7E
:%.5*/&%+.*4 %58,&(=,B(( 2 %/%5%.&%' $,:(.,0*;
! )/"/&/$$(4 7(,#8 ! " #$%< ('#*0 0 – +5*6+.2,, :%.5*/&%+.1 2 $%.%57E 2%=&($,*. 2 :*5(%67 +*=%&&%8% (0( B($0()*+$%8% 5%+., %/D*'%2 :5%(=2%6+.2, ( :5%6,;.
F+&%2&7* ,$.(27 ( :%+.%-&&,- ),+.1 %/%5%.&7E ,$.(2%2 2 +%2%$9:&%+.( :5*6+.,20-?. +%/%4 ,#(!*+8$%/ ('#*0% )"/2)"*4#*4.
H=9)*&(* 6,&&7E 0(.*5,.95&7E (+.%)&($%2 :% @(&,&+%2%'9 '*&*6;'*&.9 :%$,=,0%, ).% 2+* ,2.%57 :5(6*5;(2,?.+- '&*&(- % B*0*+%%/5,=&%+.(
@(&,&+(5%2,&(- +.,/(01&7E ,$.(2%2 :5*6:5(-.(4 =, +)*. :%+.%-&&7E (+.%)&($%2 @(&,&+(5%2,&(-. N,=0()(- 2% '&*&(-E +%+.%-. 0(31 2 %.&*+*&((
.*E (0( (&7E (+.%)&($%2 @(&,&+(5%2,&(- $ $,.*8%5(( :%+.%-&&7E. J,$,
2 ),+.&%+.(, 5%++(4+$(* ,2.%57 <.<. "%2,0*2, O.M. M.%-&%2,, H.<. A*C,&+$,( 65. $ :%+.%-&&7' (+.%)&($,' @(&,&+(5%2,&(- %.&%+-. (+$0?)(.*01&% :%+.%-&&7* :,++(27, ..*. +9''9 +%/+.2*&&%8% $,:(.,0, ( 6%08%+5%)&7E %/-=,.*01+.2. A% '&*&(? =,59/*;&7E ,2.%5%2 P5(8E*', Q., R,+:*&+$( S., <,&
K%5&,, 2 +%+.,2 :%+.%-&&7E (+.%)&($%2 @(&,&+(5%2,&(- &*%/E%6('% 2$0?),.1 +9''7 $5*6(.%5+$%4 =,6%0;*&&%+.( ( &,)(+0*&(4 :% .*$9C(' %/-=,.*01+.2,'. T2.%57 (+E%6-. (= .%8%, ).% *+0( 9 $%':,&(4 275,/%.,&, .2*56,:%0(.($, :% %:0,.* =,$9:%$, %:0,.* .596, :*5+%&,0,, &,0%8,' ( 6598('
+.,.1-' 5,+E%6%2, .% «… .,$%8% 5%6, %/-=,.*01+.2, %.&%+-.+- $ ,) $#($$ &=*$($,*" 0($*>…I, (E +)*. @(&,&+(59*.+- $,$,--.% ),+.1 %/%5%.&7E ,$.(2%2 @(5'7, ( %&(, $,$ :5,2(0%, $%0*/0?.+- 2'*+.* + (='*&*&(-'( $,0*&6,5&7E %/D*'%2 :5%(=2%6+.2,…» [3, +. 293]. < '%6*0-E P5(8E*', Q., R,+:*&+$(
S. %/D*'7 +:%&.,&&%8% @(&,&+(5%2,&(- 2$0?)*&7 2 +9''9 :%+.%-&&7E (+.%)&($%2 @(&,&+(5%2,&(-, 2 '%6*0-E <,& K%5&, %/D*' +:%&.,&&%8% @(&,&+(5%2,&(- ( +%%.2*.+.29?C(* *'9 +9''7 .*$9C(E ,$.(2%2 27)(.,?.+- (=
47
%/D*', $5,.$%+5%)&7E %/-=,.*01+.2 ( +9''7 .*$9C(E ,$.(2%2. N,++'%.5*&&7* 5,=0()(- 2 :%6E%6,E ,2.%5%2 &* '*&-?. >$%&%'()*+$%4 +9.( 5,++',.5(2,*'7E :%0(.($ @(&,&+(5%2,&(- %/%5%.&7E ,$.(2%2, &% +%:5%2%;6,?.+5,=0()&7' 85,@()*+$(' :5*6+.,20*&(*' '%6*0*4.
M :%=(B(4 P5(8E*', Q., R,+:*&+$( S., :5( %.&%+(.*01&% (6"/,,*0$ ?
) +*#*'/ 2*+1 %/D*' 2&*%/%5%.&7E ,$.(2%2 ( ),+.1 (:5('*5&% :%0%2(&,)
:%+.%-&&7E %/%5%.&7E ,$.(2%2 @(&,&+(59*.+- =, +)*. 6%08%+5%)&7E %/-=,.*01+.2, +%/+.2*&&%8% $,:(.,0, ( +:%&.,&&%4 $5*6(.%5+$%4 =,6%0;*&&%+.(.
F+.,23,-+- ),+.1 :%+.%-&&7E ( 2*+1 %/D*' :*5*'*&&7E %/%5%.&7E ,$.(2%2
@(&,&+(59?.+- =, +)*. $5,.$%+5%)&7E $5*6(.%2 [2, +. 207]. G*%/E%6('%
%.'*.(.1, ).% +.*:*&1 ,85*++(( '%;*. /7.1 5,=0()&%4. A5( 27+%$% ,85*++(2&%4 :%0(.($* 2+- :%+.%-&&,- ),+.1 %/%5%.&7E ,$.(2%2 ( 6,;* ),+.1 %+&%2&%8% $,:(.,0, '%;*. @(&,&+(5%2,.1+- =, +)*. $5,.$%+5%)&%8% $5*6(.,.
A5( >.%' +9'', )(+.%8% %/%5%.&%8% $,:(.,0, :5*6+.,20-*. +%/%4 %.5(B,.*01&9? 2*0()(&9.
M :%=(B(4 <.<. "%2,0*2,, O.M. M.%-&%2%4, H.<. A*C,&+$%4 ( 65. ,85*++(2&,- '%6*01 %=&,),*., ).% 6%08%+5%)&7* %/-=,.*01+.2, ( +%/+.2*&&74 $,:(.,0 +09;,. (+.%)&($,'( @(&,&+(5%2,&(- 2&*%/%5%.&7E ,$.(2%2 ( :%+.%-&&%4 ),+.( %/%5%.&7E ,$.(2%2, ..*. .%8% '(&('9',, $%.%574 &*%/E%6(' 60%+9C*+.20*&(- E%=-4+.2*&&%4 6*-.*01&%+.(. < >.%' +09),* +9'', )(+.%8%
%/%5%.&%8% $,:(.,0, 5,2&, :%+.%-&&%4 2*0()(&* %/%5%.&7E ,$.(2%2 [4, +. 577].
A%66*5;,&(* )(+.%8% %/%5%.&%8% $,:(.,0, &, '(&(',01&%' 95%2&* -20-*.+6%+.,.%)&% 5(+$%2,&&7', + .%)$( =5*&(- %/*+:*)*&(- 0($2(6&%+.( ( @(&,&+%2%4 9+.%4)(2%+.( :5*6:5(-.(- (%+%/*&&%, 9)(.72,- 5,=&9? +.*:*&1 ,85*++((, 2:0%.1 6% %.5(B,.*01&%4 2*0()(&7 )(+.%8% %/%5%.&%8% $,:(.,0,).
T85*++(2&,- :%0(.($, @(&,&+(5%2,&(- 2 =&,)(.*01&%4 '*5* :5(20*$,.*01&, .*', ).% $5,.$%+5%)&7* $5*6(.7 %/E%6-.+- 6*3*20*, )*' 6%08%+5%)&7*. A5( .,$%4 :%0(.($* 9 :5*6:5(-.(- :%273,*.+- 95%2*&1 >@@*$., @(&,&+%2%8% 57),8, ( 3,&+7 :%09)(.1 /%0** 27+%$(* :5(/70(, &% 2 >.%' +09),*
27+%$ 5(+$ :%.*&B(,01&7E :%.*51 %. :5(%+.,&%2$( 6*-.*01&%+.( (0( 9:9C*&&%4 2759)$( :5( 2%=5,+.,&(( +:5%+, &, :5%69$B(? (.%2,57, 5,/%.7, 9+098() 2 :($%27* :*5(%67.
A5( ' $,/"0(#*0$ ? ) +*#*'/ $5,.$%+5%)&7* $5*6(.7 (0( :%0&%+.1?
%.+9.+.29?., (0( =,&(',?. %)*&1 &(=$(4 96*01&74 2*+ 2 %/C*4 +9''* (+.%)&($%2 @(&,&+(5%2,&(-. M .%)$( =5*&(- P5(8E*', Q., R,+:*&+$( S., :5(
>.%' :%+.%-&&7* (+.%)&($( (6%08%+5%)&7* %/-=,.*01+.2,, +%/+.2*&&74 $,:(.,0 ( +:%&.,&&% 2%=&($,?C,- $5*6(.%5+$,- =,6%0;*&&%+.1) (+:%01=9?.+60- @(&,&+(5%2,&(- 2+*4 +9''7 2&*%/%5%.&7E ( :%+.%-&&%4 ),+.( %/%5%.&7E ,$.(2%2 ( &*$%.%5%4 6%0( ((0( 6,;* 2+*4 +.%('%+.() :*5*'*&&%4 ),+.(
%/%5%.&7E ,$.(2%2 [2, +. 207]. < 6,&&%4 +(.9,B(( :5*6:5(-.(* (+:%01=9*.
48
&*=&,)(.*01&74 %/D*' $5,.$%+5%)&%8% $5*6(., .%01$% 2 '%'*&.7, $%86, :%.5*/&%+.1 2 +5*6+.2,E 6%+.(8,*. :($,. < :*5(%6 6*0%2%8% +:,6, (=/7.%)&%
:5(20*)*&&7* +5*6+.2, +%E5,&-?.+- 2 2(6* 27+%$%0($2(6&7E B*&&7E /9',8.
M .%)$( =5*&(- <.<. "%2,0*2,, O.M. M.%-&%2%4, H.<. A*C,&+$%4 ( 65.,
$%&+*52,.(2&,- '%6*01 :5*6:%0,8,*., ).% 2&*%/%5%.&7* ,$.(27, :%+.%-&&,( :*5*'*&&,- ),+.1 %/%5%.&7E ,$.(2%2 @(&,&+(59?.+- =, +)*. 6%08%+5%)&7E
(+.%)&($%2. U(+.74 %/%5%.&74 $,:(.,0 2 >.%' +09),* 5,2*& 2+*4 2*0()(&*
%/%5%.&7E ,$.(2%2 [4, +. 578].
"%&+*52,.(2&,- :%0(.($, E,5,$.*5(=9*.+- '(&(',01&7' 95%2&*'
5(+$, 9.5,.7 0($2(6&%+.( ( :0,.*;*+:%+%/&%+.(. F6&,$% =, %/*+:*)*&(*
27+%$%4 &,6*;&%+.( :5( @(&,&+(5%2,&(( %/%5%.&7E ,$.(2%2 :5*6:5(-.(5,+:0,)(2,?.+- :%273*&&7'( =,.5,.,'( :% %/+09;(2,&(? /%0** 6%5%8%8%
6%08%+5%)&%8% $,:(.,0,, , .,$;* &*%/E%6('%+.1? 27:%0&*&(- %+%/7E .5*/%2,&(4 /,&$, (&,:5('*5, :5( 27+%$%4 6%0* 6%08%+5%)&7E $5*6(.%2 2 (+.%)&($,E @(&,&+(5%2,&(-), %85,&()(2,?C(E +2%/%69 :5( :5(&-.(( 9:5,20*&)*+$(E 5*3*&(4.
!0- -&/"/$$ ? (' &)" &*,,$ ?) ) +*#*'* =*$($,*" 0($*4 E,5,$.*5*&
+5*6&(4 (&*4.5,01&74) 95%2*&1 $5,.$%+5%)&%8% $5*6(., 2 %/C*4 +9''* 2+*E
(+.%)&($%2 @(&,&+(5%2,&(-, , .,$;* +5*6&(4 95%2*&1 5(+$, 9.5,.7 0($2(6&%+.( ( :0,.*;*+:%+%/&%+.( :5*6:5(-.(-. < '%6*0( P5(8E*', Q., R,+:*&+$(
S. 2*+1 %/D*' 2&*%/%5%.&7E ,$.(2%2 ( :%+.%-&&,- ),+.1 %/%5%.&7E ,$.(2%2
@(&,&+(59?.+- + :%'%C1? 6%08%+5%)&%8% =,*'&%8% $,:(.,0,, +%/+.2*&&7E
(+.%)&($%2 ( +:%&.,&&%4 $5*6(.%5+$%4 =,6%0;*&&%+.(. A*5*'*&&,- ),+.1
%/%5%.&7E ,$.(2%2, +*=%&&,- :%.5*/&%+.1 2 $%.%57E 2%=&($,*. B($0()*+$(,
@(&,&+(59*.+- =, +)*. $5,.$%+5%)&7E =,4'%2 0(31 2 +09),-E :%273*&(- 6*0%2%4 ,$.(2&%+.( :5*6:5(-.(- [2, +. 207].
< +%%.2*.+.2(( + '%6*01? <.<. "%2,0*2,, $%':5%'(++&74 2,5(,&.
:5*6:%0,8,*., ).% 2&*%/%5%.&7* ,$.(27 :5*6:5(-.(-, :%+.%-&&,- (+(+.*'&,-) ),+.1 %/%5%.&7E ,$.(2%2 ( :5(/0(=(.*01&% :%0%2(&, :*5*'*&&%4 (2,51(59?C*4) ),+.( %/%5%.&7E ,$.(2%2 @(&,&+(59?.+- =, +)*. 6%08%+5%)&7E
(+.%)&($%2. < >.%' +09),* )(+.74 %/%5%.&74 $,:(.,0 5,2*& :% 2*0()(&*
+9''* :%+.%-&&%4 ),+.( .*$9C(E ,$.(2%2 ( :%0%2(&7 (E :*5*'*&&%4 ),+.(
[4, +. 578]. N*,0(=9- >.9 +.5,.*8(?, :5*6:5(-.(- '%89. ('*.1 (=0(3&(* %/%5%.&7* ,$.(27, ).% %.5(B,.*01&% %.5,;,*.+- &, :%$,=,.*0-E 5*&.,/*01&%+.(,
%6&,$% >.% 5,++',.5(2,*.+- $,$ :0,., =, :%66*5;,&(* &, :5(*'0*'%' 95%2&*
5(+$, :%.*5( 0($2(6&%+.(.
!0- %:5*6*0*&(- .(:, :%0(.($( @(&,&+(5%2,&(- %/%5%.&%8% $,:(.,0,
$59:&7E ( +5*6&(E :5*6:5(-.(4 A*5'+$%8% $5,- 2 +%+.,2* (E .*$9C(E ,$.(2%2 /70( 276*0*&7 :%+.%-&&,- ( :*5*'*&&,- ),+.( + (+:%01=%2,&(*' '*.%6,
5*85*++(%&&%8% ,&,0(=,. A%09)*&&7* 95,2&*&(- 0(&*4&%4 5*85*++(( .(:,
49
Y " a # bx (86* Y – +9'', +%2%$9:&%8% %/%5%.&%8% $,:(.,0, $59:&7E (
+5*6&(E :5*6:5(-.(4 .7+. 59/.; ( – +%2%$9:&,- 2*0()(&, :%+.%-&&%4 ),+.(
(E %/%5%.&%8% $,:(.,0,, .7+. 59/.; b – $%>@@(B(*&., E,5,$.*5(=9?C(4 =,2(+('%+.1 2*0()(&7 :*5*'*&&%4 ),+.( %/%5%.&%8% $,:(.,0, %. +.%('%+.( 5*,0(=%2,&&%4 :5%69$B((; < – +9'', +%2%$9:&%4 2759)$( %. 5*,0(=,B(( :5%69$B((, 5,/%., 9+098, .7+. 59/.) :5*6+.,20*&7 2 .,/0. 4.
J,/0(B, 4
=.6*(71#1, ).5).''!4""454 #"#(!6# '4'1#8# 494)41",- #%1!848
%)*+",- ! ')./"!- +)./+)!01!2 3.)$'%454 %)#0 6# 2005–2007 55.
G,('*&%2,&(* %.5,+0(
!%/7), :%0*=&7E (+$%:,*'7E
K('()*+$%* :5%(=2%6+.2%
L,3(&%+.5%*&(*
L*.,00958()*+$%* :5%(=2%6+.2%
#0*$.5%>&*58*.($,
J5,&+:%5.
M.5%(.*01+.2%
5,2&*&(* 5*85*++((
Y " 15810923 # 0,5561x
Y " 8408415 # 0,9138 x
Y " 3 740 073 # 0,5618 x
Y " 6939485 # 0, 2354 x
Y " 5585000 # 0, 2144 x
Y " 16323058 # 0,0956 x
Y " 5197451 # 0,3645 x
"%>@@(B(*&.
$%55*0-B((
0,9894
0,9986
0,9189
0,9826
0,6662
0,9974
0,9991
I&,)*&(- $%>@@(B(*&.%2 $%55*0-B(( 5,++)(.72,0(+1 :5( 95%2&* =&,)('%+.( 0,05. A%09)*&&7* 5*=901.,.7 :%=2%0-?. +96(.1 % +9C*+.2*&&%4
6*4+.2(.*01&%4 +2-=( :%$,=,.*0*4 ( (+:%01=%2,.1 :5*6+.,20*&&7* 2 .,/0. 4
95,2&*&(- 5*85*++(( 60- %:5*6*0*&(- .(:, :%0(.($( @(&,&+(5%2,&(- %/%5%.&%8% $,:(.,0, $59:&7E ( +5*6&(E :5*6:5(-.(4 A*5'+$%8% $5,-.
!0- %B*&$( .(:, :%0(.($( @(&,&+(5%2,&(- %/%5%.&%8% $,:(.,0, :%
'*.%6($*, 5*$%'*&69*'%4 <.<. "%2,0*27', &*%/E%6('% :5%(=2*+.( +%:%+.,20*&(* 2*0()(&7 )(+.%8% %/%5%.&%8% $,:(.,0, + +9''%4 +%+.,2&7E ),+.*4
%/%5%.&7E ,$.(2%2. !0- >.%8% 22*6*' +0*69?C(* $%>@@(B(*&.7:
1) ",1 – $%>@@(B(*&. ,85*++(2&%4 :%0(.($( @(&,&+(5%2,&(- (%.&%3*&(* )(+.%8% %/%5%.&%8% $,:(.,0, $ +9''* :%+.%-&&%4 ),+.( %/%5%.&7E ,$.(2%2) – *+0( $%>@@(B(*&. 5,2*& *6(&(B* (0( &(;* *6(&(B7, .% :%0(.($, @(&,&+(5%2,&(- %/%5%.&7E ,$.(2%2 -20-*.+- ,85*++(2&%4;
2) "$1 – $%>@@(B(*&. $%&+*52,.(2&%4 :%0(.($( @(&,&+(5%2,&(- (%.&%3*&(* +9''7 )(+.%8% %/%5%.&%8% $,:(.,0, $ +9''* %/%5%.&7E ,$.(2%2) –
)*' /0(;* =&,)*&(* $%>@@(B(*&., $ *6(&(B*, .*' 273* +.*:*&1 $%&+*52,.(=', 2 @(&,&+(5%2,&(( %/%5%.&7E ,$.(2%2;
3) "91 – $%>@@(B(*&. 9'*5*&&%4 :%0(.($( @(&,&+(5%2,&(- (%.&%3*&(*
)(+.%8% %/%5%.&%8% $,:(.,0, $ +9''* :%+.%-&&%4 ),+.( ( :%0%2(&7 :*5*'*&50
&%4 ),+.( %/%5%.&7E ,$.(2%2) – *+0( $%>@@(B(*&. 5,2*& *6(&(B*, .% :%0(.($,
@(&,&+(5%2,&(- %/%5%.&7E ,$.(2%2 -20-*.+- 9'*5*&&%4 2 )(+.%' 2(6*.
N*=901.,.7 5,+)*., :5*60,8,*'7E ,&,0(.()*+$(E $%>@@(B(*&.%2 :5*6+.,20*&7 2 .,/0. 5.
H= :5*6+.,20*&&%4 .,/0(B7 +0*69*., ).% $59:&7* ( +5*6&(* .5,&+:%5.&7*, +.5%(.*01&7*, '*.,00958()*+$(* :5*6:5(-.(-, :5*6:5(-.(- >0*$.5%>&*58*.($( 5*,0(=9?. ,85*++(2&9? :%0(.($9 @(&,&+(5%2,&(-, ..$. 2*0()(&, (E
)(+.%8% %/%5%.&%8% $,:(.,0, '*&13* +9''7 :%+.%-&&%4 ),+.( %/%5%.&7E ,$.(2%2 ($%>@@(B(*&. ",1 2 .,/0(B* 276*0*& ;(5&7' 35(@.%'), ).% )5*2,.%
:%273*&&7'( @(&,&+%27'( 5(+$,'( (2 ),+.&%+.(, (= 5(+. 3 2(6&%, ).% =&,)*&(- $%>@@(B(*&., .*$9C*4 0($2(6&%+.( 9 :5*6:5(-.(4 >.(E %.5,+0*4 =&,)(.*01&% &(;*, )*' 9 :5*6:5(-.(4 E('()*+$%4 :5%'730*&&%+.( ( 6%/7)( :%0*=&7E (+$%:,*'7E). !,&&7* .,/0. 5 :%$,=72,?., ).% %+.,01&7* :5*6:5(-.(5*,0(=9?. 9'*5*&&9? :%0(.($9 @(&,&+(5%2,&(- %/%5%.&%8% $,:(.,0,.
J,/0(B, 5
!"#$!%# +4%#6#1.(.2, -#)#%1.)!6*;<!- +4(!1!%*
>!"#"'!)48#"!0 494)41"454 %#+!1#(# %)*+",- ! ')./"!+)./+)!01!2 3.)$'%454 %)#0 6# 2005–2007 55. "# 4'"48.
$.14/!&.'%454 +4/-4/# )4''!2'%!- #814)48
G,('*&%2,&(*
%.5,+0(
!%/7), :%0*=&7E
(+$%:,*'7E
K('()*+$%* :5%(=2%6+.2%
L,3(&%+.5%*&(*
L*.,00958()*+$%*
:5%(=2%6+.2%
#0*$.5%>&*58*.($,
J5,&+:%5.
M.5%(.*01+.2%
2005 8.
2006 8.
2007 8.
",1
"$1
"91
",1
"$1
"91
",1
"$1
"91
0,86
0,64
0,73
1,27
0,77
0,96
2,26
0,80
1,19
2,04
0,68
1,02
2,10
0,59
0,92
3,09
0,65
1,07
0,58
0,42
0,21
0,36
0,31
0,39
1,10
0,49
0,31
0,38
0,48
0,43
1,44
0,36
0,28
0,22
0,47
0,27
1,26
0,47
0,19
0,33
0,40
0,11
0,52
0,43
0,14
1,00
0,45
0,48
0,29
0,38
0,22
0,45
0,41
0,30
0,55
0,62
0,63
0,13
0,45
0,21
0,21
0,53
0,32
51
1,270
1,274
1,128
?-")&-!35$-.)
F",/$7)"1,147
1,414
1,483
E3!%-")6/!"(!-&%,
2007
1,281
D!-,33*"(&2!$%)!
7")&4.)+$-.)
2006
2005
1,388
1,440
1,270
D,;&/)$-")!/&!
C&#&2!$%)!
7")&4.)+$-.)
2,450
3,120
5,075
B)902, 7)3!4/01
&$%)7,!#01
4,316
0
1
2
3
4
5
6
N(+. 3. !(&,'($, $%>@@(B(*&., .*$9C*4 0($2(6&%+.( $59:&7E ( +5*6&(E
:5*6:5(-.(4 A*5'+$%8% $5,- =, 2005–2007 88.
!0- %B*&$( .(:, :%0(.($( @(&,&+(5%2,&(- %/%5%.&%8% $,:(.,0, :%
'*.%6($*, 5*$%'*&69*'%4 P5(8E*'%' Q., R,+:*&+$( S., &*%/E%6('% :5%(=2*+.( +%:%+.,20*&(* 2*0()(&7 :%+.%-&&7E (+.%)&($%2 @(&,&+(5%2,&((+%/+.2*&&%8% $,:(.,0,, 6%08%+5%)&7E %/-=,.*01+.2 ( $5*6(.%5+$%4 =,6%0;*&&%+.() + +9''%4 2&*%/%5%.&7E ,$.(2%2 ( 5,=0()&7E +%+.,2&7E ),+.*4
%/%5%.&7E ,$.(2%2. !0- >.%8% 22*6*' +0*69?C(* $%>@@(B(*&.7:
1) ",2 – $%>@@(B(*&. ,85*++(2&%4 :%0(.($( @(&,&+(5%2,&(- (%.&%3*&(* :%+.%-&&7E (+.%)&($%2 @(&,&+(5%2,&(- $ +9''* 2&*%/%5%.&7E ,$.(2%2
( :%0%2(&* :%+.%-&&%4 ),+.( %/%5%.&7E ,$.(2%2) – *+0( $%>@@(B(*&. 5,2*&
*6(&(B* (0( &(;* *6(&(B7, .% :%0(.($, @(&,&+(5%2,&(- %/%5%.&7E ,$.(2%2
-20-*.+- ,85*++(2&%4;
2) "$2 – $%>@@(B(*&. $%&+*52,.(2&%4 :%0(.($( @(&,&+(5%2,&(- (%.&%3*&(* :%+.%-&&7E (+.%)&($%2 @(&,&+(5%2,&(- $ +9''* 2&*%/%5%.&7E
,$.(2%2, :%+.%-&&%4 ( :*5*'*&&%4 ),+.( %/%5%.&7E ,$.(2%2) – )*' /0(;*
=&,)*&(* $%>@@(B(*&., $ *6(&(B*, .*' 273* +.*:*&1 $%&+*52,.(=', 2 @(&,&+(5%2,&(( %/%5%.&7E ,$.(2%2;
3) "92 – $%>@@(B(*&. 9'*5*&&%4 :%0(.($( @(&,&+(5%2,&(- (%.&%3*&(* :%+.%-&&7E (+.%)&($%2 @(&,&+(5%2,&(- $ +9''* 2&*%/%5%.&7E ,$.(2%2,
52
:%+.%-&&%4 ),+.( %/%5%.&7E ,$.(2%2 ( :%0%2(&7 :*5*'*&&%4 ),+.( %/%5%.&7E ,$.(2%2) – *+0( $%>@@(B(*&. 5,2*& (0( :5*273,*. *6(&(B9, .% :%0(.($,
@(&,&+(5%2,&(- %/%5%.&7E ,$.(2%2 -20-*.+- 9'*5*&&%4 2 )(+.%' 2(6*.
N*=901.,.7 5,+)*., :5*60,8,*'7E ,&,0(.()*+$(E $%>@@(B(*&.%2 :5*6+.,20*&7 2 .,/0. 6.
J,/0(B, 6
!"#$!%# +4%#6#1.(.2, -#)#%1.)!6*;<!- +4(!1!%*
>!"#"'!)48#"!0 494)41"454 %#+!1#(# %)*+",- ! ')./"!+)./+)!01!2 3.)$'%454 %)#0 6# 2005–2007 55. "# 4'"48.
$.14/!&.'%454 +4/-4/# 6#)*9.?",- #814)48
G,('*&%2,&(* %.5,+0(
!%/7), :%0*=&7E
(+$%:,*'7E
K('()*+$%* :5%(=2%6+.2%
L,3(&%+.5%*&(*
L*.,00958()*+$%*
:5%(=2%6+.2%
#0*$.5%>&*58*.($,
J5,&+:%5.
M.5%(.*01+.2%
2005 8.
2006 8.
2007 8.
",2
"$2
"92
",2
"$2
"92
",2
"$2
"92
1,29
0,97
1,02
1,45
1,01
1,10
1,74
1,00
1,20
1,51
0,96
1,13
1,45
0,94
1,11
1,52
0,96
1,15
2,22
1,28
0,88
0,80
1,15
0,85
2,27
1,30
0,88
0,80
1,19
0,87
2,67
1,23
0,86
0,70
1,23
0,80
1,48
1,74
0,81
0,95
0,99
0,38
1,12
1,14
0,45
1,32
1,49
2,36
0,89
0,98
0,91
1,03
1,07
1,16
1,21
1,57
2,39
0,85
0,98
0,87
0,97
1,10
1,16
H= .,/0. 6 +0*69*., ).% 2 (&.*5:5*.,B(( =,59/*;&7E ,2.%5%2 ,85*++(2&9? :%0(.($9 @(&,&+(5%2,&(- %/%5%.&7E ,$.(2%2 5*,0(=%272,0( .%01$%
$59:&7* ( +5*6&(* +.5%(.*01&7* :5*6:5(-.(- A*5'+$%8% $5,- 2 2005 8.
< .% ;* 25*'- 2 $%&.*$+.* 6,&&%4 .5,$.%2$( :%0(.($, @(&,&+(5%2,&(- $59:&7E ( +5*6&(E :5*6:5(-.(4, =,&(',?C(E+- 6%/7)*4 :%0*=&7E (+$%:,*'7E,
2 2006 8. ( 2 2007 8. -20-*.+- $%&+*52,.(2&%4.
I,$0?)*&(-, +@%5'90(5%2,&&7* :% 5*=901.,.,' 5,+)*.%2, %+&%2,&&7E
&, 5,=&7E '*.%6($,E, :5*6+.,20*&7 2 .,/0. 7.
!,&&7* .,/0. 7 :%$,=72,?., ).% ('*?.+- 5,+E%;6*&(- 2 .5,$.%2$* 5*=901.,.%2 :5( %:5*6*0*&(( .(:%2 :%0(.($ @(&,&+(5%2,&(- %/%5%.&7E ,$.(2%2 :% 5,=0()&7' '*.%6($,'. A% &,3*'9 '&*&(?, '*.%6($,, :5*60,8,*',%.*)*+.2*&&7'( ,2.%5,'(, %/*+:*)(2,*. /%0** .%)&7* 5*=901.,.7, .,$ $,$
2 &*4 %.+9.+.29*. 6%:9C*&(* % .%', ).% 9 (++0*69*'7E :5*6:5(-.(4 «275,/%.,&, .2*56,- :%0(.($, :% %:0,.* =,$9:%$, %:0,.* .596, :*5+%&,0,, &,0%8,'
( 6598(' +.,.1-' 5,+E%6%2», 2*61 +.*:*&1 :%85*3&%+.( :5( 6,&&%' 6%:9C*&(( &*2%='%;&% 6%+.%2*5&% %B*&(.1 :% ('*?C('+- +.,.(+.()*+$(' 6,&&7'.
53
J,/0(B, 7
@!/, +4(!1!% >!"#"'!)48#"!0 494)41"454 %#+!1#(# %)*+",$! !
')./"!$! +)./+)!01!0$! 3.)$'%454 %)#0 6# 2005–2007 55.
2005 8.
2006 8.
2007 8.
G,('*&%2,&(* %.5,+0(
F.*)*+.2*&&74
:%6E%6
I,59/*;&74 :%6E%6
F.*)*+.2*&&74
:%6E%6
I,59/*;&74 :%6E%6
F.*)*+.2*&&74
:%6E%6
I,59/*;&74 :%6E%6
!%/7), :%0*=&7E
(+$%:,*'7E
K('()*+$%* :5%(=2%6+.2%
L,3(&%+.5%*&(*
T85*++(2&,'*5*&&,T85*++(2&,T85*++(2&,'*5*&&,T85*++(2&,T85*++(2&,-
'*5*&&,'*5*&&,'*5*&&,'*5*&&,'*5*&&,'*5*&&,T85*++(2&,-
'*5*&&,'*5*&&,'*5*&&,T85*++(2&,T85*++(2&,T85*++(2&,T85*++(2&,-
"%&+*52,.(2&,'*5*&&,'*5*&&,'*5*&&,'*5*&&,'*5*&&,'*5*&&,-
'*5*&&,'*5*&&,'*5*&&,T85*++(2&,T85*++(2&,T85*++(2&,T85*++(2&,-
"%&+*52,.(2&,'*5*&&,'*5*&&,'*5*&&,'*5*&&,'*5*&&,'*5*&&,-
L*.,00958()*+$%*
:5%(=2%6+.2%
#0*$.5%>&*58*.($,
J5,&+:%5.
M.5%(.*01+.2%
G*%/E%6('% %.'*.(.1, ).% 9+:*E .*$9C*8% @(&,&+%2%8% 9:5,20*&(- 2%
'&%8%' =,2(+(. %. %:.(',01&%+.( +%)*.,&(- :%0(.($( 9:5,20*&(- %/%5%.&7'( ,$.(2,'( ( :%0(.($( (E @(&,&+(5%2,&(-. < .,/0. 8 :5*6+.,20*&7 2,5(,&.7 27/%5, :%0(.($( $%':0*$+&%8% %:*5,.(2&%8% 9:5,20*&(- %/%5%.&7'
$,:(.,0%' :5*6:5(-.(-. < +%%.2*.+.2(( + ',.5(B*4 %85,&()(.*01&%4 :%0(.($* 9:5,20*&(- .*$9C('( ,$.(2,'( +%%.2*.+.29*. 9'*5*&&74 (0( $%&+*52,.(2&74 (&% &* ,85*++(2&74) .(: :%0(.($( (E @(&,&+(5%2,&(-, 9'*5*&&%4
:%0(.($* 9:5,20*&(- .*$9C('( ,$.(2,'( +%%.2*.+.29*. 0?/%4 .(: :%0(.($(
@(&,&+(5%2,&(-, %+.%5%;&%4 :%0(.($* ,6*$2,.&7 ,85*++(2&74 (0( 9'*5*&&74 (&% &* $%&+*52,.(2&74) .(: :%0(.($( @(&,&+(5%2,&(-.
J,/0(B, 8
A#1)!:# 8,94)# +4(!1!%! %4$+(.%'"454 4+.)#1!8"454
*+)#8(."!0 494)41",$ %#+!1#(4$ +)./+)!01!0
A%0(.($, @(&,&+(5%2,&(- .*$9C(E
,$.(2%2
T85*++(2&,'*5*&&,"%&+*52,.(2&,-
54
A%0(.($, 9:5,20*&(- .*$9C('( ,$.(2,'(
F+.%5%;&,M%)*.,?.+M%)*.,?.+G* +%)*.,?.+-
'*5*&&,M%)*.,?.+M%)*.,?.+M%)*.,?.+-
F85,&()(.*01&,G* +%)*.,?.+M%)*.,?.+M%)*.,?.+-
"%':0*$+&%* 5,++'%.5*&(* :%0(.($( 9:5,20*&(- %/%5%.&7'( ,$.(2,'( $59:&7E ( +5*6&(E :5*6:5(-.(4 A*5'+$%8% $5,- ( :%0(.($( @(&,&+(5%2,&(- %/%5%.&%8% $,:(.,0, :5*6+.,20*&% 2 .,/0. 9.
J,/0(B, 9
34(!1!%# %4$+(.%'"454 4+.)#1!8"454 *+)#8(."!0 494)41",$
%#+!1#(4$ %)*+",- ! ')./"!- +)./+)!01!2 3.)$'%454 %)#0 6#
2005–2007 55.
+
+
+
+
+
+
+
'*5*&&,'*5*&&,F+.%5%;&,F+.%5%;&,'*5*&&,'*5*&&,F+.%5%;&,-
'*5*&&,'*5*&&,'*5*&&,T85*++(2&,T85*++(2&,T85*++(2&,T85*++(2&,-
+
+
+
+
+
+
M%2'*+.('%+.1 (+/–)
'*5*&&,'*5*&&,'*5*&&,T85*++(2&,T85*++(2&,T85*++(2&,T85*++(2&,-
A%0(.($, @(&,&+(5%2,&(- %/%5%.&7E ,$.(2%2
'*5*&&,'*5*&&,F+.%5%;&,F+.%5%;&,'*5*&&,'*5*&&,F+.%5%;&,-
A%0(.($, 9:5,20*&(%/%5%.&7'( ,$.(2,'(
+
2007 8.
M%2'*+.('%+.1 (+/–)
A%0(.($, @(&,&+(5%2,&(- %/%5%.&7E ,$.(2%2
T85*++(2&,'*5*&&,T85*++(2&,T85*++(2&,'*5*&&,T85*++(2&,T85*++(2&,-
A%0(.($, 9:5,20*&(%/%5%.&7'( ,$.(2,'(
'*5*&&,'*5*&&,F+.%5%;&,L*.,00958()*F+.%+$%* :5%(=2%6+.2% 5%;&,#0*$.5%>&*58*'*5*&.($,
&,J5,&+:%5.
F+.%5%;&,M.5%(.*01+.2%
F+.%5%;&,-
2006 8.
M%2'*+.('%+.1 (+/–)
!%/7), :%0*=&7E (+$%:,*'7E
K('()*+$%* :5%(=2%6+.2%
L,3(&%+.5%*&(*
A%0(.($, @(&,&+(5%2,&(- %/%5%.&7E ,$.(2%2
G,('*&%2,&(*
%.5,+0(
A%0(.($, 9:5,20*&(%/%5%.&7'( ,$.(2,'(
2005 8.
+
+
+
+
+
+
+
T&,0(= .,/0(B7 :%$,=72,*., ).% $59:&7'( ( +5*6&('( :5*6:5(-.(-'(
2+*E 27/5,&&7E 60- (++0*6%2,&(- %.5,+0*4-«0%$%'%.(2%2» A*5'+$%8% $5,5*,0(=9?.+- +%2'*+.('7* '*;69 +%/%4 .(:7 :%0(.($ 9:5,20*&(- ( @(&,&+(5%2,&(- %/%5%.&%8% $,:(.,0,, ).% +%=6,*. &*%/E%6('7* :5*6:%+70$( 60(E 6,01&*43*8% 9+:*3&%8% 5,=2(.(-.
A%0(.($, $%':0*$+&%8% %:*5,.(2&%8% 9:5,20*&(- %/%5%.&7' $,:(.,0%' $59:&7E ( +5*6&(E :5*6:5(-.(4 %.5,+0*4-«0%$%'%.(2%2» A*5'+$%8%
$5,- ,6*$2,.&, +%25*'*&&7' >$%&%'()*+$(' 9+0%2(-', %/*+:*)(2,*. 6%:9+.('7* :5*6*07 @(&,&+%2%8% 5(+$, ( @%5'(59*. &*%/E%6('9? >$%&%'()*+$9? /,=9 60- 5*3*&(- :%+.,20*&&7E +.5,.*8()*+$(E =,6,) [8], %+&%2&7'(
+5*6( $%.%57E -20-?.+-: +%E5,&*&(* :%=(B(4 &, '(5%2%' 57&$*, %/*+:*)*55
&(* :%.5*/(.*0*4 $,)*+.2*&&%4, :%01=9?C*4+- +:5%+%' :5%69$B(*4, 5,=2(.(* :5%(=2%6+.2,, +%2*53*&+.2%2,&(* 0%8(+.($(, 92*0()*&(* %/D*'%2 :5%(=2%6+.2, :5%69$B((, :5(20*)*&(* (&2*+.(B(4, 5,B(%&,01&%* (+:%01=%2,&(*
'(&*5,01&%-+751*2%4 /,=7 $5,-, 5,=5,/%.$, ( 2&*65*&(* >@@*$.(2&7E .*E&()*+$(E 5*3*&(4.
B!9(!45)#>!&.'%!2 '+!'4%
1. T59.?&%2 Q.T. V(&,&+%274 '*&*6;'*&.: 9)*/. :%+%/(*. – L.:
"GFN M, 2007. – 312 +.
2. P5(8E*' Q., R,+:*&+$( S. V(&,&+%274 '*&*6;'*&.: 2 2-E .. / A*5. +
,&80. :%6 5*6. <.<. "%2,0*2,. – MA/.: #$%&%'()*+$,- 3$%0,, 2000. – J.2. – 669 +.
3. <,& K%5&. F+&%27 @(&,&+%2%8% '*&*6;'*&.,. – L.: H=6,.*01+$(4
6%' «<(01-'+», 2001. – 992 +.
4. "%2,0*2 <.<. <2*6*&(* 2 @(&,&+%274 '*&*6;'*&.. – L.: V(&,&+7 (
+.,.(+.($,, 2007. – 768 +.
5. L(B*$ M.T. "5,.$%+5%)&,- @(&,&+%2,- :%0(.($,: 9)*/. :%+%/(* /
M.T. L(B*$. – L.: "GFN M, 2007. – 248 +.
6. A*5'+$(4 $5,4 – .*55(.%5(- $%&$95*&.&%8% 5,=2(.(-: 9)*/.-'*.%6.
:%+%/(* / :%6 &,9). 5*6. P9$(&%4 J.<., I9*2%4 O.S. – A*5'1, 2008. – 198 +.
7. A*C,&+$,- H.<. V(&,&+%274 '*&*6;'*&.: $5,.$%+5%)&,- @(&,&+%2,- :%0(.($,: 9)*/. :%+%/(* 60- 29=%2. – L.: #$=,'*&, 2005. – 256 +.
8. A5%85,'', +%B(,01&%->$%&%'()*+$%8% 5,=2(.(- A*5'+$%8% $5,-. –
URL: http://www.permkrai.ru/development_strategy/zadachi/econ/rost/fond/mash/
9. N,4=/*58 P.T. S%=%2+$(4 S.W., M.,5%69/B*2, O.P. M%25*'*&&74 >$%&%'()*+$(4 +0%2,51. – L.: HGVNT-L, 2006. – 495 +.
10. V(&,&+%27* 5*=901.,.7 ( :0,.*;*+:%+%/&%+.1 $59:&7E ( +5*6&(E
:5*6:5(-.(4 A5($,'1- 2 2005–07 88.: +.,.(+.()*+$(4 +/%5&($ / J*55(.%5(,01&74 %58,& @*6*5,01&%4 +09;/7 8%+96,5+.2*&&%4 +.,.(+.($( :% A*5'+$%'9 $5,?. – A*5'1, 2008. – 47 +.
11. V(&,&+%27* 5*=901.,.7 6*-.*01&%+.( :5*6:5(-.(4 A*5'+$%8% $5,-.
2005–07 88.: +.,.(+.()*+$(4 +/%5&($ / J*55(.%5(,01&74 %58,& @*6*5,01&%4
+09;/7 8%+96,5+.2*&&%4 +.,.(+.($( :% A*5'+$%'9 $5,?. – A*5'1, 2008. – 45 +.
12. V(&,&+%274 '*&*6;'*&.: .*%5(- ( :5,$.($,: 9)*/. / :%6 5*6.
O.M. M.%-&%2%4. – L.: A*5+:*$.(2,, 2008. – 656 +.
13. X*5/,$%2 <.T., A5(E%61$% O.T. "5,.$%+5%)&,- @(&,&+%2,- :%0(.($,: 9)*/. :%+%/(*. – L.:"GFN M, 2007. – 272 +.
A%09)*&% 28.01.2010
56
