Full speech: Budget 2013

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    28>?

    Bujmgt _pggod

    K`f`stgr ie E`fnfog

    Xrnv`f Mirjdnf

    2= Egbrunry 28>?

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    @_BF< 0=4-8-52>-:>:75->RX< ?:7/28>2

    Zi ibtn`f oip`gs pagnsg oiftnot>7Xrgtir`n888>Zga< +2= >2 ?>7 7725Enx< +2= >2 ?>7 7>25

    Bujmgt jioukgfts nrg nvn`anbag nt< www.trgnsury.miv.zn

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    28>? Bujmgt _pggod

    >

    Difiurnbag _pgncgr

    @ dnvg tdg difiur ti prgsgft tdg eiurtd bujmgt ie Xrgs`jgft \ukns

    njk`f`strnt`if.

    Kr Xrgs`jgft yiu sn`j `f tdg _tntg ie tdg Fnt`if njjrgss tdnt wg sdiuaj put

    _iutd Ner`on e`rst. Naa ie us dnvg n pntr`it`o juty nfj rgspifs`b`a`ty ti bu`aj nfj

    prikitg iur oiuftry. Piu eurtdgr sn`j Zdg Fnt`ifna Jgvgaipkgft Xanf

    priv`jgs n pgregot vgd`oag eir uf`tgj not`if prgo`sgay bgonusg `t dns tdg suppirt

    ie _iutd Ner`onfs noriss tdg pia`t`ona nfj ouaturna spgotruk. Agnjgrs `f gvgry

    nvgfug sdiuaj bg rgnjy ti r`sg nbivg sgot`ifna `ftgrgsts nfj w`td mrgnt

    kntur`ty, puaa timgtdgr ti tncg td`s oiuftry eirwnrj.

    Zd`s odnaagfmg nppa`gs ti naa sgot`ifs ie iur sio`gty< bus`fgss, anbiur, puba`o

    rgprgsgftnt`vgs, not`v`sts nfj o`t`zgfs `f gvgry pnrt ie tdg oiuftry.

    Ns wg pi`ftgj iut `f tdg 28>2 Bujmgt, maibna goifik`o ufogrtn`fty w`aa rgkn`fw`td us eir sikg t`kg.

    _iutd Ner`ons goifik`o iutaiic `s `kpriv`fm, but rgqu`rgs tdnt wg not`vgay

    pursug n j`eegrgft trnlgotiry `e wg nrg ti njjrgss tdg odnaagfmgs ndgnj.

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    28>? Bujmgt _pggod

    2

    Wfjgr yiur agnjgrsd`p Kr Xrgs`jgft, wg dnvg ipgfgj fgw odnffgas ie

    oikkuf`ont`if nfj bu`at kirg oidgs`if nkifm cgy stncgdiajgrs `f _iutd

    Ner`on. ]g dnvg tncgf knfy stgps ti orgntg tdg oifj`t`ifs eir d`mdgr agvgas ie

    oife`jgfog `f iur goifiky nfj sio`gty. Fiw wg nrg rgnjy ti `kpagkgft tdg

    Fnt`ifna Jgvgaipkgft Xanf.

    _iutd Ner`onfs dnvg n r`od d`stiry ie not`fm timgtdgr eir n bgttgr euturg.

    Zd`rty ygnrs nmi, tdg Wf`tgj Jgkiornt`o Erift briumdt timgtdgr pgipag iemiijw`aa nfj eirgs`mdt erik naa oirfgrs ie tdg oiuftry. Knfy pi`fts ie

    v`gw, knfy j`eegrgfogs `f npprinod, wgrg knrsdnaagj nriufj n s`fmag

    onusg bu`aj`fm n uf`tgj nfj fif-rno`na sio`gty. ]g j`j tdg snkg eir tdg

    e`rst jgkiornt`o gagot`ifs `f >00: wd`od an`j tdg bns`s eir nf gfjur`fm

    jgkiornoy.

    Zdg Rgoifstruot`if nfj Jgvgaipkgft Xrimrnkkg `s tdg eiufjnt`if ifwd`od wg bu`aj. @t sn`j00:, wg sgg tdg`kpirtnfog ie n aifm-tgrk pgrspgot`vg if jgvgaipkgft nfj odnfmg. @t `s

    pgipag not`fm timgtdgr eir n oikkif v`s`if tdnt oiffgots tdg pnst ti tdg

    prgsgft, nfj kncgs n bgttgr euturg piss`bag.

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    28>? Bujmgt _pggod

    ?

    Zdg odnaagfmg eir us, difiurnbag kgkbgrs, `s tdnt pgipag nrg nsc`fm `e wg onf

    sustn`f iur k`rnoag. Zdgy nrg nsc`fm wdgtdgr wg ns n fnt`if dnvg tdg nb`a`ty,

    tdg w`aa nfj tdg w`sjik ti tncg nfitdgr agnp eirwnrj `f rgoifstruot`fm nfj

    jgvgaip`fm _iutd Ner`on. Zdgy nrg nsc`fm wdgtdgr _iutd Ner`onfs onf st`aa sdiw

    tdg wiraj diw ti ivgroikg `ftrnotnbag pribagks tdnt enog tdg oikkuf`ty ie

    fnt`ifs. @f tdgsg try`fm t`kgs, _iutd Ner`onfs tii nsc tdg qugst`if, onf wg bg

    n w`ff`fm fnt`if9.

    Ie oiursg wg onf!

    Ns Bgfgj`ot Kifmnai, n yiufm knf erik Lidnffgsburm, wr`tgs `f d`s t`p< ]g

    naa nocfiwagjmg tdnt ufgkpaiykgft, pivgrty nfj `fgquna`ty nrg tdg mrgntgst

    odnaagfmg eno`fm iur oiuftry ]g w`aa fit grnj`ontg td`s pribagk ivgrf`mdt..

    Zd`s `s a`cg knfunaay kiv`fm n kiuftn`f nfj tdg ifay wny ti ji `t, `s ti kivg

    ifg rioc ns`jg nfj tdg fgxt mgfgrnt`if, ir fgxt mivgrfkgft, w`aa ji tdg snkguft`a td`s kiuftn`f `s kivgj.

    Dipg nfj oife`jgfog oikg erik gfgrmgt`o `fviavgkgft nfj n w`aa`fmfgss ti

    kncg n j`rgot oiftr`but`if ti odnfmg. Zdg `kpgrnt`vgs ie odnfmg nrg fit lust

    odnaagfmgs ti mivgrfkgft, tdgy oiferift naa ie sio`gty. N fgw ernkgwirc eir

    jgvgaipkgft `s nf ippirtuf`ty ti uf`tg nriufj nf `foaus`vg v`s`if, nfj li`f

    dnfjs `f oifstruot`fm n sdnrgj euturg.

    Zdg Fnt`ifna Xanff`fm Oikk`ss`if dns onut`ifgj tdnt iur jgvgaipkgftiblgot`vgs w`aa tncg t`kg nfj dnrj wirc ti nod`gvg. Kgnsurgj ygnr by ygnr,

    j`str`ot by j`str`ot, tdgrg w`aa bg njvnfogs nfj tdgrg w`aa bg sgtbnocs. But `f gnod

    e`vg-ygnr tgrk ie mivgrfkgft wg kust jgkifstrntg, ns wg dnvg s`fog >00:,

    tdnt wg onf kggt kirg jgknfj`fm k`agstifgs kirg libs, kirg gftgrpr`sgs,

    kirg tgodfiaim`ona `ffivnt`if, bgttgr dius`fm, primrgss `f gjuont`if nfj

    dgnatd.

    ]irc`fm timgtdgr wg naa cfiw tdnt wg onf ji bgttgr. Naa ie us - o`t`zgfs,

    tnxpnygrs, puba`o sgrvnfts, tgnodgrs, not`v`sts, knfnmgrs, wircgrs wg naa dnvg

    n sdnrgj euturg, nfj wg dnvg n sdnrgj panf ti kncg `t wirc.

    Zdg Bntswnfns sny, _gj`cwn cg ftwn pgj` mn sg tdntn - wirc`fm timgtdgr

    wg onf ji kirg!

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    28>? Bujmgt _pggod

    :

    Ivgrv`gw ie tdg 28>? Bujmgt

    Zdg 28>? Bujmgt `s prgsgftgj `f odnaagfm`fm t`kgs, but nmn`fst tdg bnocmriufj

    ie n fgw strntgm`o ernkgwirc eir mriwtd nfj jgvgaipkgft. Zd`s `s n bujmgt `f

    wd`od tdgrg `s a`k`tgj riik eir gxpnfs`if, ygt tdgrg nrg s`mf`e`onft ippirtuf`t`gseir odnfmg.

    Zdgrg nrg s`mfs ie `kprivgkgft `f tdg wiraj goifiky, tdiumd tdgiutaiic rgkn`fs triubagj.

    _iutd Ner`ons goifiky dns oift`fugj ti mriw, but nt n saiwgr rntg tdnfprilgotgj nt tdg t`kg ie tdg 28>2 Bujmgt.

    Zdg 28>? Bujmgt tncgs tdg Fnt`ifna Jgvgaipkgft Xanf ns `ts pi`ft iejgpnrturg. Zdg strntgm`o panfs ie mivgrfkgft nfj tdg kgj`uk-tgrk

    gxpgfj`turg panfs w`aa bg na`mfgj ti rgna`sg iur iblgot`vgs.

    Mivgrfkgft dns tncgf kgnsurgs ti oiftria mriwtd `f spgfj`fm._pgfj`fm panfs dnvg bggf rgjuogj by R>8.: b`aa`if tdriumd

    rgpr`ir`t`snt`if, snv`fms nfj n jrnw-jiwf if tdg oift`fmgfoy rgsgrvg.

    Mivgrfkgft rgkn`fs oikk`ttgj ti n anrmg-sonag `fernstruoturg`fvgstkgft primrnkkg.

    Iur pntd ie spgfj`fm nfj tdg rgoivgry `f rgvgfug w`aa stnb`a`sg jgbt ntlust d`mdgr tdnf :8 pgr ogft ie MJX. Zdg bujmgt jge`o`t w`aa enaa erik 7.2

    pgr ogft ie MJX `f 28>2/>? ti ?.> pgr ogft `f 28>7/>5.

    N rgv`gw w`aa bg `f`t`ntgj td`s ygnr ie iur tnx pia oy ernkgwirc nfj `ts riag`f suppirt`fm tdg iblgot`vgs ie `foaus`vg mriwtd, gkpaiykgft,

    jgvgaipkgft nfj e`sona sustn`fnb`a`ty.

    @f tdg 28>?/>: e`sona ygnr, pgrsifna `foikg tnx rga`ge ie R= b`aa`if `smrnftgj.

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    28>? Bujmgt _pggod

    7

    N fgw aiona mivgrfkgft gqu`tnbag sdnrg eirkuan `s pripisgj, priv`j`fmn subs`jy eir ergg bns`o sgrv`ogs jgs`mfgj ti rgnod 70 pgr ogft ie

    diusgdiajs.

    Eurtdgr gjuont`if nfj trn`f`fm w`aa oift`fug ti bg gxtgfjgj nfjgfdnfogj.

    Nfj eiaaiw`fm onrgeua oifs`jgrnt`if ie `fputs erik vnr`ius stncgdiajgrs,n rgv`sgj yiutd gkpaiykgft `fogft`vg w`aa bg tnbagj `f tdg Diusg,

    timgtdgr w`td n pripisgj gkpaiykgft `fogft`vg eir spgo`na goifik`o

    zifgs.

    @f td`s bujmgt wg oift`fug ti `fvgst `f gjuont`if, dgnatd, dius`fm, puba`otrnfspirt nfj sio`na jgvgaipkgft oikpifgfts ie tdg sio`na wnmg

    wd`od njj up ti nbiut 58 pgr ogft ie puba`o gxpgfj`turg.

    Maibna s`tunt`if

    Zdgrg nrg s`mfs ie `kprivgkgft `f tdg wiraj goifiky, tdiumd tdg iutaiic

    rgkn`fs triubagj. Mriwtd `s st`aa kutgj `f tdg Wf`tgj _tntgs nfj Lnpnf, nfj

    kuod ie Guripg `s `f rgogss`if. Xia`oy `ftgrvgft`ifs by tdg knlir ogftrna bnfcs

    wgrg fggjgj jur`fm 28>2 ti nvgrt fgw goifik`o nfj e`sona or`sgs. Pgt knfynjvnfogj goifik`gs oiftrnotgj jur`fm tdg eiurtd qunrtgr ie 28>2 nfj maibna

    prispgots nrg gxpgotgj ti `kprivg ifay knrm`fnaay, erik mriwtd ie ?.2 pgr ogft

    `f 28>2 ti ?.7 pgr ogft `f 28>?. Gkgrm`fm knrcgts, pnrt`ouanray Od`fn nfj @fj`n,

    oift`fug ti agnj maibna mriwtd, natdiumd nt aiwgr rntgs tdnf bgeirg.

    D`md agvgas ie jgbt nrg `fd`b`t`fm primrgss `f knfy oiuftr`gs. Pgt kgnsurgs ti

    rgjuog `fjgbtgjfgss dnvg tdg geegot ie diaj`fm bnoc mriwtd. Wfgkpaiykgft

    rgkn`fs d`md `f knfy oiuftr`gs, ygt tgodfiaim`ona primrgss oift`fugs ti rgjuog

    jgknfj eir anbiur `f knfy `fjustr`gs. Nriufj tdg wiraj, `fgquna`ty `s eugaa`fm

    j`soiftgft.

    _i tdgrg nrg pnrnaagas bgtwggf tdg maibna goifik`o j`soiursg nfj iur iwf

    pia`oy odnaagfmgs. @f sggc`fm n prnmknt`o bnanfog bgtwggf rgoivgry nfj

    oifsia`jnt`if, bgtwggf goifik`o piwgr nfj sio`na sia`jnr`ty, bgtwggf

    `fernstruoturg `fvgstkgft nfj duknf jgvgaipkgft, bgtwggf gfoiurnm`fm

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    28>? Bujmgt _pggod

    5

    gftgrpr`sg nfj rgmuant`fm knrcgts wg nrg mrnppa`fm w`td `ssugs tdnt oiferift

    knfy itdgr fnt`ifs.

    _iutd Ner`ons goifik`o iutaiic

    _iutd Ner`ons goifiky dns oift`fugj ti mriw, but nt n saiwgr rntg tdnf

    prilgotgj nt tdg t`kg ie tdg 28>2 Bujmgt. MJX mriwtd rgnodgj 2.7 pgr ogft `f

    28>2 nfj `s gxpgotgj ti mriw nt 2.= pgr ogft `f 28>?, r`s`fm ti ?.4 pgr ogft `f

    28>7. @feant`if dns rgkn`fgj kijgrntg, w`td oifsukgr pr`ogs r`s`fm by 7.= pgr

    ogft `f 28>2 nfj prilgotgj ti `forgnsg by nf nvgrnmg ie 7.7 pgr ogft n ygnr

    ivgr tdg pgr`ij ndgnj.

    Diwgvgr, iur trnjg pgreirknfog `s diaj`fm us bnoc. Gxpirts mrgw by lust >.>

    pgr ogft `f rgna tgrks anst ygnr, wd`ag `kpirts `forgnsgj by =.2 pgr ogft. Zdgjge`o`t if tdg ourrgft nooiuft ie tdg bnanfog ie pnykgfts wns 5.> pgr ogft ie

    MJX. Zd`s kgnfs, `f s`kpag tgrks, tdnt gxpgfj`turg `f tdg _iutd Ner`onf

    goifiky gxoggjgj tdg vnaug ie prijuot`if nfj `foikg by nbiut R>08 b`aa`if

    anst ygnr. Zd`s `s pnrtay n oifsgqugfog ie tdg j`srupt`if ie k`f`fm sgotir not`v`ty

    nfj tdg struoturna rgjuot`if `f k`fgrna gxpirts jug ti aiwgr jgknfj.

    _ikg ie tdg eiufjnt`ifs ie enstgr mriwtd nrg `f panog. _trifm onp`tna `fvgstkgft

    by tdg puba`o sgotir, tdg njj`t`if ie gagotr`o`ty-mgfgrnt`fm onpno`ty, rgant`vgay

    stnbag `feant`if nfj aiw `ftgrgst rntgs w`aa suppirt `kprivgj mriwtd rntgs ivgr

    tdg kgj`uk tgrk.

    But td`s `s fit gfiumd. Kuod kirg `s fggjgj. @f pnrt`ouanr, n s`mf`e`onft

    `forgnsg `f pr`vntg sgotir `fvgstkgft nfj oikpgt`t`vgfgss `s fggjgj `f tdg

    w`jgr goifiky< nmr`ouaturg, knfuenotur`fm, tiur`sk, oikkuf`ont`ifs gvgry

    sgotir dns ti pany `ts pnrt `f gxpnfj`fm trnjg, `fvgstkgft nfj lib orgnt`if.

    Zdg Fnt`ifna Jgvgaipkgft Xanf< n fgw trnlgotiry

    Zdg FJX, suppirtgj by tdg Fgw Mriwtd Xntd nfj itdgr primrnkkgs, `fv`tgs

    us ti aiic bgyifj tdg oifstrn`fts ie tdg prgsgft ti tdg trnfseirknt`if

    `kpgrnt`vgs ie tdg fgxt twgfty nfj td`rty ygnrs.

    Zdgsg `kpgrnt`vgs nrg nargnjy nppnrgft `f tdg rgna`t`gs ie tdg sio`na nfj

    goifik`o rgstruotur`fm tdnt `s ufjgr wny.

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    28>? Bujmgt _pggod

    =

    Zdg e`rst rgna`ty `s iur jgkimrnpd`o trnfs`t`if n k`aa`if yiufm pgipagagnvg sodiia gvgry ygnr, nfj wg fggj n pnocnmg ie rgeirks tdnt w`aa

    `kprivg gjuont`if, trn`f`fm nfj wirc ippirtuf`t`gs eir yiufm pgipag.

    Zdg sgoifj `s tdnt wg nrg n rnp`jay urbnf`s`fm sio`gty. Zd`s kgnfs wgfggj ti kggt urmgft jgknfj eir dius`fm, kuf`o`pna sgrv`ogs, sodiias,

    oa`f`os, puba`o trnfspirt nfj oikkgro`na jgvgaipkgft, but `t `s nasi

    kgnfs wg dnvg nf ippirtuf`ty ti bu`aj nf `ftgmrntgj urbnf anfjsonpg,

    w`td geegot`vg pnrtfgrsd`ps bgtwggf kuf`o`pna`t`gs, aiona bus`fgssgs nfj

    o`v`o nssio`nt`ifs.

    N td`rj `kpgrnt`vg `s goifik`o oikpgt`t`vgfgss. ]g fggj ti `fvgst `f`fernstruoturg, rn`sg prijuot`v`ty nfj j`vgrs`ey iur goifiky, ti orgntg

    libs nfj rn`sg a`v`fm stnfjnrjs.

    @kpriv`fm tdg quna`ty ie gjuont`if nfj trn`f`fm `s nf gssgft`na eiufjnt`ifie n kirg prijuot`vg nfj `foaus`vg mriwtd pntd.

    _trifmgr a`fcs w`td Ner`on nfj itdgr gkgrm`fm goifik`gs nrg fggjgj.

    ]g dnvg ti njnpt ti n aiw-onrbif goifiky, `foauj`fm kib`a`snt`if ie iur

    rgfgwnbag gfgrmy pitgft`na.

    E`fnaay tdgrg `s tdg sio`na sia`jnr`ty odnaagfmg tdnt outs noriss naa ietdgsg, wd`od `s ti bu`aj n kirg gquna nfj `foaus`vg goifiky tdnt br`jmgs

    iur rno`na nfj itdgr j`v`jgs.

    Zdgsg nrg tdgkgs if wd`od tdg FJX priv`jgs oagnr mu`jnfog, fit lust nbiut

    strntgm`o minas nfj iblgot`vgs, but nasi nbiut tdg prnot`ona j`ee`ouat`gs nfj

    odi`ogs wg enog.

    Zdgrg nrg substnft`na strgfmtds if wd`od ti bu`aj n wgaa-gstnba`sdgj agmna

    systgk, sgourg pripgrty r`mdts, nf geegot`vg tnx systgk, wiraj-oanss d`mdgr

    gjuont`if `fst`tut`ifs nfj so`gfog oiufo`as, gstnba`sdgj gfgrmy, trnfspirt,

    wntgr nfj oikkuf`ont`ifs `fernstruoturg fgtwircs, gxpgrt`sg nfj onpno`ty `f

    knfy nrgns - k`f`fm, oifstruot`if, rgtn`a, e`fnfog, aim`st`os nfj knfuenoturgj

    gxpirts nfj n siufj knorigoifik`o nfj e`sona ernkgwirc.

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    28>? Bujmgt _pggod

    4

    ]d`ag bu`aj`fm if tdgsg strgfmtds, wg dnvg ti tnocag iur wgncfgssgs

    nmmrgss`vgay. Zdg FJX gkpdns`sgs cgy `fst`tut`ifna onpnb`a`t`gs? Bujmgt tncgs tdg Fnt`ifna Jgvgaipkgft Xanf ns `ts pi`ft ie

    jgpnrturg.

    @t rgoimf`sgs tdnt iur kgj`uk-tgrk panfs nrg ernkgj `f tdg oiftgxt ie naifm-tgrk v`s`if nfj strntgmy.

    @t eiousgs if strgfmtdgf`fm mriwtd nfj gkpaiykgft orgnt`if.

    @t pr`ir`t`sgs `kprivgkgfts `f gjuont`if nfj gxpnfs`if ie trn`f`fmippirtuf`t`gs.

    @t prikitgs primrgss tiwnrjs n kirg gquna sio`gty nfj nf `foaus`vgmriwtd pntd.

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    28>? Bujmgt _pggod

    0

    Zdg e`sona ernkgwirc nfj aifm-tgrk sustn`fnb`a`ty

    Fnt`ifna jgvgaipkgft kust bg oiupagj w`td e`sona sustn`fnb`a`ty, wd`od gfsurgs

    tdnt tdg primrgss wg kncg w`aa fit bg `ftgrruptgj ir rgvgrsgj. Zdg mivgrfkgft

    rga`gs if rgsiurogs jgr`vgj erik tdg w`jgr goifiky, nfj tdg bgst wny timgfgrntg rgsiurogs `s ti mriw tdg goifiky enstgr nfj `forgnsg tdg tnx bnsg.

    Zdg FJX tnrmgts nf nffuna mriwtd rntg ie kirg tdnf 7 pgr ogft n ygnr. Zd`s

    wiuaj jiubag tdg rgsiurogs nvn`anbag ti mivgrfkgft `f tdg fgxt twi jgonjgs.

    Zdg prgsgft rgna`ty `s tdnt mriwtd `s kirg kijgst. Zdg goifik`o turbuagfog wg

    gxpgr`gfogj `f tdg sgoifj dnae ie anst ygnr dns rgsuatgj `f n rgvgfug sdirtenaa

    nkiuft`fm ti R>5.? b`aa`if. Zdg jge`o`t `s fiw gst`kntgj ti bg 7.2 pgr ogft ie

    MJX `f 28>2/>?. Zdg mriwtd iutaiic eir tdg fgxt tdrgg ygnrs dns wgncgfgj,

    nfj mivgrfkgfts fgt jgbt `s fiw gxpgotgj ti stnb`a`sg knrm`fnaay d`mdgr tdnf

    :8 pgr ogft ie MJX.

    @f tdg Kgj`uk Zgrk Bujmgt Xia`oy _tntgkgft, wg fitgj tdnt `e tdg goifik`o

    gfv`rifkgft wgrg ti jgtgr`irntg, mivgrfkgft wiuaj rgnssgss `ts rgvgfug nfj

    spgfj`fm panfs ti sgourg _iutd Ner`ons e`sona eiit`fm. @f tdg o`roukstnfogs, iur

    npprinod `fviavgs sgvgrna gagkgfts2

    N rgjuot`if `f tdg bujmgt jge`o`t ti ?.> pgr ogft by 28>7/>5, n agvgaoifs`stgft w`td tdg stnb`a`snt`if ie jgbt

    _tgps ti rg`feirog mriwtd, bu`aj`fm if tdg oikpgt`t`vgfgss gfdnfogkgftprimrnkkg `ftrijuogj anst ygnr

    @f`t`nt`if ie n tnx pia`oy rgv`gw

    N oikprgdgfs`vg rgv`gw ie gxpgfj`turg, eious`fm if bitd spgfj`fmoiftrias nfj vnaug eir kifgy `f mivgrfkgft primrnkkgs nfj nmgfo`gs

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    28>? Bujmgt _pggod

    >8

    _trgfmtdgf`fm tdg onpno`ty ie tdg stntg ti `kpagkgft iur panfs nfjprimrnkkgs.

    Mivgrfkgft `s oikk`ttgj ti rgkn`f`fm w`td`f tdg gxpgfj`turg og`a`fm sgt iut `f

    tdg bujmgt. Fgw pia`oy `f`t`nt`vgs ivgr tdg fgxt tdrgg ygnrs w`aa bg e`fnfogj eriksnv`fms, gee`o`gfoy mn`fs nfj rgpr`ir`t`snt`if.

    _truoturna `forgnsgs `f spgfj`fm rgqu`rg oirrgspifj`fm rgvgfug `forgnsgs `e

    tdgy nrg ti bg e`fnfogj sustn`fnbay. @e wg suooggj `f jr`v`fm mriwtd tiwnrjs 7

    pgr ogft n ygnr nfj mivgrfkgft rgvgfug jiubags `f tdg fgxt 28 ygnrs, knlir

    `fernstruoturg prilgots nfj fgw pia`oy `f`t`nt`vgs suod ns fnt`ifna dgnatd

    `fsurnfog nfj gxpnfjgj viont`ifna gjuont`if w`aa bg neeirjnbag w`td a`k`tgj

    njlustkgfts ti tnx pia`oy. But `e mriwtd oift`fugs naifm tdg prgsgft trnlgotiry,

    substnft`na spgfj`fm oikk`tkgfts wiuaj rgqu`rg s`mf`e`onft njlustkgfts `f

    rgvgfug nfj rgjuot`ifs `f itdgr nrgns ie spgfj`fm.

    If Xnra`nkgfts rgqugst, Fnt`ifna Zrgnsury dns prgpnrgj n rgpirt tdnt

    oifs`jgrs e`sona sustn`fnb`a`ty erik n aifm-tgrk pgrspgot`vg. Zdg rgpirt `s

    ourrgftay bg`fm oifs`jgrgj w`td`f mivgrfkgft, netgr wd`od `t w`aa bg tnbagj eir

    Xnra`nkgfts oifs`jgrnt`if.

    Mriw`fm tdg rgna goifiky

    Mriw`fm tdg goifiky kgnfs gxpnfj`fm bus`fgss not`v`ty. ]g rgoimf`sg tdg

    cgy riag tdnt pr`vntg oikpnf`gs pany `f iur goifiky.

    @f tdg agnj-up ti tdg Bujmgt, wg gfmnmgj w`td sgvgrna bus`fgss agnjgrs if tdg

    `fvgstkgft nfj jgvgaipkgft odnaagfmgs wg enog. Naaiw kg ti sdnrg w`td yiu

    sikg ie tdg`r panfs, wd`od s`mfna mriw`fm oife`jgfog `f tdg bus`fgss iutaiic,

    jgsp`tg j`ee`ouat oifj`t`ifs.

    Oifstruot`if nfj rgeurb`sdkgft by n oikpnfy `f tdg disp`tna`ty sgotire`rk ie R2.7 b`aa`if `f tdg fgxt >4 kiftds nfj gxpnfs`if ie R? b`aa`if `f

    tdg p`pga`fg

    Zwi tgagoikkuf`ont`ifs `fvgstkgfts nkiuft`fm ti R>: b`aa`if td`s ygnr

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    28>? Bujmgt _pggod

    >>

    Onp`tna gxpgfj`turg ie R?.: b`aa`if ivgr tdg fgxt tdrgg ygnrs by n rn`a nfjaim`st`os ipgrntir

    N R2.7 b`aa`if gxpnfs`if nfj aifmgr-tgrk panfs ie R>7 b`aa`if `f k`f`fm

    prilgots

    @fvgstkgft ie R>.: b`aa`if td`s ygnr by n agnj`fm rgtn`agr, nfj panfs tiipgf >88 fgw stirgs by nfitdgr

    Nf gxpnfs`if ie R>.2 b`aa`if td`s ygnr by n eiij nfj bgvgrnmg sgotire`rk

    Xanfs eir R24.7 b`aa`if `f aifm-tgrk `fernstruoturg `fvgstkgft by n agnj`fm`fjustr`na oikpnfy, wd`od w`aa orgntg >8 888 tgkpirnry nfj : 888pgrknfgft libs.

    @f rgogft t`kgs, tdg wiraj dns bgoikg n kirg ufogrtn`f panog eir bus`fgssgs,

    onus`fm sikg ti bu`aj onsd rgsgrvgs rntdgr tdnf `fvgst `f fgw ir gxpnfj`fm

    ipgrnt`ifs. Ns mivgrfkgft, wg w`sd ti gfoiurnmg bus`fgssgs ti cggp `fvgst`fm

    `f iur goifiky, nfj sg`zg tdg ippirtuf`t`gs nriufj us. ]g nrg tdgrgeirg

    rg`feiro`fm sgvgrna `f`t`nt`vgs tdnt suppirt bus`fgss jgvgaipkgft2, dns rgog`vgj n titna ie 2>7 nppa`ont`ifs w`td

    rgqugsts eir mrnfts titnaa`fm R2.? b`aa`if kn`fay erik tdg odgk`onas,

    kgtnas nfj nmri-priogss`fm sgotirs. Nppa`ont`ifs nrg gxpgotgj ti

    `forgnsg ivgr tdg pgr`ij ndgnj nfj eufj`fm ie R>.7 b`aa`if pgr ygnr dns

    bggf priv`jgj if tdg bujmgt ie tdg Jgpnrtkgft ie Zrnjg nfj @fjustry.

    Zdg _pgo`na Goifik`o \ifg (_G\) Xrimrnkkg, nasi nffiufogj anstygnr, dns rgog`vgj eufj`fm ti bu`aj wiraj oanss `fjustr`na pnrcs. @ nk `f

    j`souss`if w`td K`f`stgr Jnv`gs if spgo`e`o tnx `fogft`vgs ti gfdnfog td`s

    `f`t`nt`vg.

    Zdg Libs Eufjnffiufogj `f tdg 28>> Bujmgt dns oifoaujgj twi onaaseir pripisnas. @f titna, ? 5>: nppa`ont`ifs dnvg bggf rgog`vgj, nfj 57

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    28>? Bujmgt _pggod

    >2

    prilgots npprivgj. Mrnft eufj`fm ie R?.? b`aa`if dns bggf npprivgj,

    kntodgj by n eurtdgr R?.> b`aa`if `f eufj`fm rn`sgj by tdg pr`vntg sgotir.

    _knaa, Kgj`uk nfj K`ori Gftgrpr`sgs (_KKGs) pany n cgy riag `f tdg

    jgvgaipkgft ie tdg goifiky nfj nrg n s`mf`e`onft mgfgrntir iegkpaiykgft. E`fnfo`fm ie _KKGs dns bggf s`kpa`e`gj w`td tdg orgnt`if

    ie tdg _knaa Gftgrpr`sg E`fnfog Nmgfoy anst ygnr. ]g dnvg bggf

    primrgss`vgay wirc`fm ti s`kpa`ey tdg tnx rgqu`rgkgfts eir sknaa bus`fgss.

    Zdg turfivgr tdrgsdiaj w`aa bg `forgnsgj td`s ygnr nfj tdg mrnjuntgj rntg

    struoturg w`aa bg rgv`sgj.

    Rgm`ifna @ftgmrnt`if

    Ner`on `s iur dikg, nfj `t `s iur euturg. @t `s n knrcgt ie ivgr ifg b`aa`if pgipag

    nfj `t `s mriw`fm rnp`jay.

    Zdg Fnt`ifna Jgvgaipkgft Xanf nocfiwagjmgs tdg maibna sd`et ie goifik`o

    piwgr erik ]gst ti Gnst, nfj d`mda`mdts tdg r`sg ie Ner`on.

    @fjggj, wg dnvg nargnjy bgmuf ti sgg iur trnjg pnttgrfs sd`et erik trnj`t`ifna

    pnrtfgrs `f Guripg nfj tdg Wf`tgj _tntgs ti fgw knrcgts `f Ns`n nfj Ner`on.

    Ner`on fiw nooiufts eir nbiut >4 pgr ogft ie iur titna gxpirts, nfj fgnray n

    qunrtgr ie iur knfuenoturgj gxpirts.

    Ivgr tdg pnst e`vg ygnrs, tdg _iutd Ner`onf Rgsgrvg Bnfc dns npprivgj fgnray

    > 888 anrmg `fvgstkgfts `fti ?5 Ner`onf oiuftr`gs. Zdgsg nrg kutunaay

    bgfge`o`na, ns tdgy suppirt jgvgaipkgft `f tdisg oiuftr`gs, nfj nasi mgfgrntg

    tnx rgvgfug, j`v`jgfjs nfj libs bitd nbrinj ns wgaa ns `f _iutd Ner`on. Zi

    eurtdgr suppirt tdg pr`vntg sgotir `f gxpnfj`fm ipgrnt`ifs `f Ner`on, @ w`aa

    nffiufog s`kpagr ruags tdnt w`aa rgjuog tdg t`kg nfj oists ie ji`fm bus`fgss `f

    Ner`on.

    N fukbgr ie kgnsurgs nrg pripisgj ti rganx oriss-birjgr e`fnfo`na rgmuant`ifs

    nfj tnx rgqu`rgkgfts if oikpnf`gs, knc`fm `t gns`gr eir bnfcs nfj itdgr

    e`fnfo`na `fst`tut`ifs ti `fvgst nfj ipgrntg `f itdgr oiuftr`gs. _`k`anr kgnsurgs

    w`aa nppay ti eirg`mf oikpnf`gs wnft`fm ti `fvgst `f Ner`onf oiuftr`gs us`fm

    _iutd Ner`on ns tdg`r rgm`ifna dgnjqunrtgrs. Zdg iutwnrj `fvgstkgft rgeirks

    tdnt nppay ns pnrt ie tdg Mntgwny ti Ner`on rgeirks w`aa nasi pgrtn`f ti tdisg

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    28>? Bujmgt _pggod

    >?

    oikpnf`gs sggc`fm ti `fvgst `f oiuftr`gs iuts`jg Ner`on, `foauj`fm BR@O

    oiuftr`gs.

    @f njj`t`if, substnft`na j`rgot `fvgstkgfts `f rgm`ifna jgvgaipkgft nrg

    ufjgrwny prilgotsnoriss >= oiuftr`gs titnaagj R5.2 b`aa`if `f 28>2. Zdg buac ie tdisgprilgots nrg `f k`f`fm, `fjustr`na `fernstruoturg, nmri-priogss`fm nfj

    tiur`sk.

    Ns pnrt ie `ts aifm-tgrk strntgmy ti dgap sgourg gfgrmy suppay eir _iutdNer`on nfj tdg rgm`if, Gscik `s oifs`jgr`fm ipt`ifs eir `fvgstkgft `f

    sgvgrna rgm`ifna mgfgrnt`if nfj trnfsk`ss`if prilgots.

    ]irc`fm w`td iur BR@O_ Xnrtfgrs

    Fgxt kiftd, wg w`aa dist tdg 7 tdnffuna BR@O_ _ukk`t, wd`od br`fms timgtdgr

    Brnz`a, Russ`n, @fj`n, Od`fn nfj _iutd Ner`on. Zdg _ukk`t w`aa ufvg`a tdg wirc

    wg dnvg bggf ji`fm w`td iur BR@O_ pnrtfgrs if tdg eiaaiw`fm prilgots? Bujmgt _pggod

    >:

    ]irc `s ufjgrwny if orgnt`fm n trnjg nfj jgvgaipkgft `fsurnfog r`scpiia. Zdg n`k `s ti gstnba`sd n sustn`fnbag nfj natgrfnt`vg `fsurnfog nfj

    rg`fsurnfog fgtwirc eir tdg BR@O_ oiuftr`gs.

    E`fnfo`fm `fernstruoturg `fvgstkgft

    Zdg FJX rgk`fjs us tdnt _iutd Ner`on fggjs ti `fvgst `f n strifm fgtwirc ie

    goifik`o `fernstruoturg jgs`mfgj ti suppirt tdg oiuftrys kgj`uk- nfj aifm-

    tgrk goifik`o nfj sio`na iblgot`vgs.

    Ivgr tdg fgxt tdrgg ygnrs, R42= b`aa`if `s panffgj ti bg spgft by tdg e`sous nfj

    stntg-iwfgj oikpnf`gs ti bu`aj `fernstruoturg. Zdg e`fnfo`fm eir tdgsg prilgots

    `s `f panog, nfj `s fit neegotgj by tdg spgfj`fm outs `f tdg bujmgt.

    Zdg e`sous dns naaiontgj lust ufjgr R:?8 b`aa`if eir sodiias, disp`tnas, oa`f`os,

    jnks, wntgr nfj gagotr`o`ty j`str`but`if fgtwircs, gagotr`e`ont`if ie ivgr n k`aa`if

    fgw dikgs, snf`tnt`if sodgkgs, bu`aj`fm kirg oiurtriiks nfj pr`sifs, nfj

    `kprivgj bus, oikkutgr rn`a nfj rinj a`fcs. Kist ie tdg spgfj`fm enaas ufjgr

    priv`fogs nfj kuf`o`pna`t`gs.

    Gscik, Zrnfsfgt nfj itdgr _tntg-Iwfgj Oikpnf`gs eufj n eurtdgr R:88 b`aa`if

    ie prilgots. Zd`s w`aa bg e`fnfogj bitd tdriumd iwf rgsiurogs nfj njj`t`ifna

    birriw`fm ivgr tdg fgxt tdrgg ygnrs, suppirtgj by Zrgnsury munrnftggs.

    Zd`s w`aa pny eir tdg ifmi`fm bu`aj`fm ie piwgr mgfgrnt`if panfts nfj fgw

    trnfsk`ss`if a`fgs, `fvgstkgft `f rn`a, pirts nfj p`pga`fgs, anrmg fgw wntgr

    trnfsegr sodgkgs, nfj vnr`ius n`rpirt upmrnjgs.

    Ie oiursg, wg nrg wgaa nwnrg tdnt tdgrg nrg pnrts ie mivgrfkgft tdnt strummag ti

    spgfj tdg`r euaa `fernstruoturg bujmgts. @t `s `kpirtnft ti bgnr `f k`fj tdnt

    spgfj`fm primrnkkgs dnvg bgoikg kirg nkb`t`ius, eufj`fm agvgas dnvg

    `forgnsgj, nfj prgssurg ti jga`vgr dns `ftgfs`e`gj. Rgoirjs sdiw tdntmivgrfkgfts nb`a`ty ti spgfj dns bggf stgnj`ay r`s`fm erik ygnr ti ygnr. But `t

    `s fit ygt enst gfiumd.

    If td`s odnaagfmg, ]`aa`g ju Xrggz gxprgssgs oifogrf nbiut wdgtdgr

    `fernstruoturg `fvgstkgft `s notunaay tnc`fm panog. Dg summgsts< Ns n o`t`zgf

    ifg sdiuaj bg nbag ti ibtn`f erik tdg trgnsury wgbs`tg nt tdg gfj ie gnod

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    28>? Bujmgt _pggod

    >7

    e`fnfo`na ygnr wdnt nkiuft wns spgft if wdnt `fernstruoturg. Kr ju Xrggz, yiu

    onf nargnjy ibtn`f tdnt `feirknt`if erik tdg trgnsury wgbs`tg, fit lust gvgry

    ygnr, but gvgry kiftd!

    @fvgst`fm `f Wrbnf Jgvgaipkgft

    Iur urbnf nrgns kncg n v`tna oiftr`but`if ti tdg fnt`ifna goifiky, dist`fm

    enotir`gs nfj iee`ogs nfj knfy wirc ippirtuf`t`gs, nfj w`aa nawnys bg nttrnot`vg

    ti yiufm pgipag sggc`fm n bgttgr a`eg. @t `s a`ttag surpr`sg tdgf tdnt tdg Ogfsus

    28>> sdiws tdnt 52 pgr ogft ie _iutd Ner`onfs nrg fiw a`v`fm `f iur o`t`gs nfj

    tiwfs. Nfj tdnt tdg pipuant`if ie sikg kuf`o`pna`t`gs mrgw by ivgr 78 pgr ogft

    bgtwggf 288> nfj 28>>.

    Zdg odnaagfmg wg enog ie d`mday `fgee`o`gft, sgmrgmntgj nfj gxoaus`ifnry j`v`jgsbgtwggf tiwf nfj tiwfsd`p `kpisgs oists fit ifay if tdg goifiky nfj tdg

    e`sous, but nasi if enk`a`gs nfj oikkuf`t`gs.

    N fgw eirkuan eir tdg aiona mivgrfkgft gqu`tnbag sdnrg w`aa bg `ftrijuogj `f

    28>?/>: tdnt rgoimf`sgs tdg fggj ti bgttgr j`eegrgft`ntg nss`stnfog ti j`eegrgft

    kuf`o`pna`t`gs, `foauj`fm tdisg `f rurna nrgns. Kuf`o`pna `fernstruoturg mrnfts w`aa

    nasi bg rg-na`mfgj, nfj mi dnfj `f dnfj w`td kirg `ftgmrntgj panff`fm ie fgw

    jgvgaipkgfts, si tdnt wg onf kncg kgnf`fmeua str`jgs `f ivgroik`fm tdg

    spnt`na `fgquna`t`gs ie tdg pnst.

    Aiw onrbif goifiky

    Zdg Jgvgaipkgft Xanf eurtdgr onaas if mivgrfkgft ti sgfj n s`mfna ti `fjustry

    nfj oifsukgrs tdnt wg nrg a`v`fm `f nf gfv`rifkgftnaay strgssgj wiraj.

    Nfj si Mivgrfkgft pripisgs ti pr`og onrbif by wny ie n onrbif tnx nt tdg rntg

    ie R>28 pgr tif ie OI2gqu`vnagft, geegot`vg erik > Lnfunry 28>7. Zi sietgf

    tdg `kpnot, n tnx-ergg gxgkpt`if tdrgsdiaj ie 58 pgr ogft w`aa bg sgt, w`td

    njj`t`ifna naaiwnfogs eir gk`ss`ifs `ftgfs`vg nfj trnjg-gxpisgj `fjustr`gs. Nf

    upjntgj onrbif tnx pia`oy pnpgr w`aa bg puba`sdgj eir eurtdgr oifsuatnt`if by tdg

    gfj ie Knrod 28>?.

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    28>? Bujmgt _pggod

    >5

    Zi gfsurg tdnt _iutd Ner`on prijuogs euga tdnt `s kirg gfv`rifkgftnaay er`gfjay,

    suppirt kgodnf`sks eir bitd b`ieuga prijuot`if nfj tdg upmrnjg ie i`a

    rge`fgr`gs ti oagnfgr euga stnfjnrjs w`aa bg `ftrijuogj.

    @f njj`t`if, mivgrfkgft oift`fugs ti j`rgot spgfj`fm tiwnrjs gfv`rifkgftna

    primrnkkgs, suod ns `fstnaa`fm sianr wntgr mgysgrs, priour`fm rgfgwnbag

    gfgrmy, aiw onrbif puba`o trnfspirt, oagnf`fm up jgrga`ot k`fgs, njjrgss`fm no`j

    k`fg jrn`fnmg, suppirt`fm iur fnt`ifna pnrcs, nfj `f pnrt`ouanr, ti snv`fm iur

    rd`fi pipuant`if, wdi rgkn`f ufjgr tdrgnt.

    ]g nrg nasi gfoiurnm`fm tdg pr`vntg sgotir nfj sknaagr puba`o gft`t`gs ti bg

    orgnt`vg nfj jgvgaip aiw-onrbif prilgots tdriumd tdg Mrggf Eufj. @f tdg e`rst

    onaa eir pripisnas, 708 nppa`ont`ifs wgrg rgog`vgj. Zdg R488 k`aa`if tdnt wns

    prgv`iusay naaiontgj `s ti bg tippgj up w`td nf njj`t`ifna R?88 k`aa`if.

    Zdg sio`na wnmg

    Zdg FJX rgoimf`sgs tdnt rgjuo`fm tdg oist ie a`v`fm `s gssgft`na eir brinjgf`fm

    goifik`o pnrt`o`pnt`if nfj ga`k`fnt`fm pivgrty. Naifms`jg tdg goifik`o wnmg

    gnrfgj tdriumd wirc, tdg sio`na wnmg priv`jgj by mivgrfkgft `s n stgnj`ay

    r`s`fm oiftr`but`if ti tdg a`v`fm oifj`t`ifs ie wirc`fm pgipag nfj tdg`r enk`a`gs.

    _ubstnft`na mriwtd `f sio`na spgfj`fm ivgr tdg pnst jgonjg dns e`fnfogj ntdrggeiaj `forgnsg `f tdg fukbgr ie pgipag rgog`v`fm sio`na mrnfts, n jiuba`fm `f

    pgr onp`tn dgnatd spgfj`fm, oifstruot`if ie >.7 k`aa`if ergg dikgs nfj tdg

    priv`s`if ie ergg bns`o gjuont`if ti tdg piirgst 58 pgr ogft ie agnrfgrs. Zdg

    `kpnot `s gv`jgft `f `kprivgj a`v`fm stnfjnrjs, gxpnfjgj noogss ti bns`o

    sgrv`ogs nfj tdg odnfm`fm anfjsonpg ie bitd urbnf nfj rurna nrgns.

    Zdg sio`na nss`stnfog bujmgt dns `forgnsgj by nf nvgrnmg ie >> pgr ogft n

    ygnr s`fog 2884/80, `f pnrt jug ti tdg gxtgfs`if ie tdg od`aj suppirt mrnft ti tdg

    nmg ie >4. _pgfj`fm if sio`na nss`stnfog w`aa r`sg ti R>28 b`aa`if fgxt ygnr.

    Zdg iaj nmg nfj j`snb`a`ty mrnfts w`aa `forgnsg `f Npr`a erik R> 288 nkiftd ti R> 258,

    Zdg eistgr onrg mrnft w`aa `forgnsg erik R==8 ti R488, nfj

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    28>? Bujmgt _pggod

    >=

    Zdg od`aj suppirt mrnft w`aa `forgnsg ti R208 `f Npr`a nfj R?88 n kiftd`f Iotibgr.

    @t `s nasi pripisgj tdnt tdg iaj nmg mrnft kgnfs tgst sdiuaj bg pdnsgj iut by

    28>5, nooikpnf`gj by ieesgtt`fm rgv`s`ifs ti tdg sgoifjnry nfj tgrt`nryrgbntgs. Naa o`t`zgfs ivgr n jgs`mfntgj nmg w`aa bg ga`m`bag eir tdg mrnft, wd`od

    w`aa s`kpa`ey `ts njk`f`strnt`if nfj njjrgss tdg j`s`fogft`vg ti snvg tdnt nr`sgs

    erik tdg prgsgft kgnfs tgst.

    Naifms`jg sio`na nss`stnfog, noogss ti dgnatd onrg `s n v`tna gagkgft `f tdg

    sio`na wnmg. Zdgrg dns bggf primrgss `f rgjuo`fm kirtna`ty nfj `kpriv`fm iur

    D@U nfj ZB primrnkkgs, nfj nf gxpnfs`if `f kgj`ona nfj fursg trn`f`fm

    onpno`ty `s ufjgr wny.

    X`ait fnt`ifna dgnatd `fsurnfog prilgots dnvg bggf `f`t`ntgj td`s ygnr `f tgf

    j`str`ots, nfj w`aa `foaujg `kprivgkgfts ti dgnatd eno`a`t`gs, oiftrnot`fm w`td

    mgfgrna prnot`t`ifgrs nfj e`fnfo`na knfnmgkgft rgeirks. N fgw oifj`t`ifna

    mrnft `s `ftrijuogj td`s ygnr ti gfnbag tdg fnt`ifna Jgpnrtkgft ie Dgnatd ti pany

    n mrgntgr riag `f oiirj`fnt`fm tdgsg rgeirks.

    Zdg `f`t`na pdnsg ie FD@ jgvgaipkgft w`aa fit panog fgw rgvgfug jgknfjs if

    tdg e`sous. Ivgr tdg aifmgr tgrk, diwgvgr, `t `s nft`o`pntgj tdnt n tnx `forgnsg

    w`aa bg fggjgj. Zdg Fnt`ifna Zrgnsury `s wirc`fm w`td tdg Jgpnrtkgft ie Dgnatd

    ti gxnk`fg tdg eufj`fm nrrnfmgkgfts nfj systgk rgeirks rgqu`rgj eir FD@. Nj`souss`if pnpgr `fv`t`fm puba`o oikkgft if vnr`ius ipt`ifs w`aa bg puba`sdgj

    td`s ygnr.

    Mivgrfkgfts oiftr`but`if ti dius`fm nfj bns`o kuf`o`pna sgrv`ogs `s n

    substnft`na oikpifgft ie tdg sio`na wnmg. Zdg bujmgt eir dius`fm nfj

    oikkuf`ty nkgf`t`gs dns `forgnsgj by ivgr >5 pgr ogft n ygnr s`fog 2884.

    Xrimrgss oift`fugs ti bg knjg `f gxtgfj`fm noogss ti dius`fm, gagotr`o`ty,

    wntgr, snf`tnt`if nfj rgeusg rgkivna sgrv`ogs. Zdg kn`f oiftr`but`if ie tdg

    fnt`ifna bujmgt ti tdg e`fnfo`fm ie diusgdiaj nkgf`t`gs `s tdg aiona mivgrfkgft

    gqu`tnbag sdnrg. N fgw gqu`tnbag sdnrg eirkuan `s pripisgj `f td`s Bujmgt,

    wd`od w`aa priv`jg n subs`jy ie R2=7 eir gvgry diusgdiaj w`td n kiftday

    `foikg agss tdnf R2 ?88, ir nbiut 70 pgr ogft ie naa diusgdiajs.

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    28>? Bujmgt _pggod

    >4

    ]g nasi rgoimf`sg tdnt knfy bus`fgssgs priv`jg tdg`r gkpaiyggs w`td dius`fm

    nss`stnfog ir dikg ainfs. Diwgvgr, tdg ourrgft er`fmg bgfge`t tnx `s ufjuay

    burjgfsikg `f onsgs wdgrg nf gkpaiygr trnfsegrs n diusg ti n aiw-`foikg

    wircgr nt n pr`og bgaiw knrcgt vnaug. Znx rga`ge `s pripisgj ti njjrgss td`s

    j`ee`ouaty.

    Zdg sio`na wnmg oikpagkgfts gkpaiykgft gnrf`fms nfj oiftr`butgs ti n kirg

    gqu`tnbag nfj `foaus`vg goifik`o mriwtd pntd. Fnt`ifna dgnatd `fsurnfog nfj

    eurtdgr stgps `f sio`na sgour`ty rgeirk w`aa nasi rg`feirog sio`na sia`jnr`ty nfj tdg

    jgogft wirc nmgfjn.

    _io`na spgfj`fm, diwgvgr, `s fit n subst`tutg eir lib orgnt`if.

    Ifg ie iur kist prgss`fm jgvgaipkgft odnaagfmgs `s ti gxpnfj wirc

    ippirtuf`t`gs eir yiufm pgipag. Zdgrg dns bggf gxtgfs`vg jgbntg if diw td`ssdiuaj bg jifg. Zdg nfswgr `s tdnt n w`jg rnfmg ie kgnsurgs nrg fggjgj,

    `foauj`fm eurtdgr gjuont`if, trn`f`fm, puba`o gkpaiykgft ippirtuf`t`gs nfj

    suppirt eir lib orgnt`if `f tdg pr`vntg sgotir.

    Zi oikpagkgft gx`st`fm primrnkkgs, n tnx `fogft`vg n`kgj nt sdnr`fm tdg

    oists ie gkpaiy`fm yiufm wirc-sggcgrs w`aa bg tnbagj eir oifs`jgrnt`if by

    Xnra`nkgft. @t w`aa dgap yiufm pgipag gftgr tdg anbiur knrcgt ti mn`f vnaunbag

    gxpgr`gfog nfj noogss onrggr ippirtuf`t`gs. N s`k`anr `fogft`vg `s pripisgj eir

    ga`m`bag wircgrs ie naa nmgs w`td`f spgo`na goifik`o zifgs.

    E`fnfo`na sgrv`ogs nfj rgt`rgkgft rgeirk

    @f anst ygnrs Bujmgt, @ `fj`ontgj tdg fggj eir _iutd Ner`onf diusgdiajs ti snvg

    kirg. @ nk fiw nbag ti nffiufog tdg eiaaiw`fm pripisnas, eir oifsuatnt`if

    bgeirg wg `ftrijuog tdg fgogssnry agm`sant`if antgr td`s ygnr7.

    Rgt`rgkgft eufjs w`aa bg rgqu`rgj ti `jgft`ey nppripr`ntg prgsgrvnt`ifeufjs eir gx`t`fm kgkbgrs, wdi w`aa bg gfoiurnmgj ti prgsgrvg wdgf

    odnfm`fm libs.

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    28>? Bujmgt _pggod

    >0

    Rgt`rgkgft eufjs w`aa bg rgqu`rgj ti mu`jg tdg`r kgkbgrs tdriumd tdgpriogss ie oifvgrt`fm snv`fms `fti n rgmuanr `foikg netgr rgt`rgkgft, nfj

    ti odiisg ir gstnba`sd jgenuat nffu`ty prijuots tdnt kggt nppripr`ntg

    pr`fo`pags nfj stnfjnrjs. Kirg oikpgt`t`if w`aa bg prikitgj by naaiw`fm

    priv`jgrs itdgr tdnf a`eg iee`ogs ti sgaa a`v`fm nffu`t`gs.

    Zdg tnx trgntkgft ie pgfs`if, priv`jgft nfj rgt`rgkgft nffu`ty eufjs w`aabg s`kpa`e`gj nfj dnrkif`zgj.

    Mivgrfnfog rgeirks ie rgt`rgkgft eufjs w`aa nasi bg `kpagkgftgj, w`tdkgnsurgs `f panog ti gfsurg trustggs ie rgt`rgkgft eufjs nrg trn`fgj

    ifog tdgy dnvg bggf nppi`ftgj. @ `ftgfj ti onaa up n oifegrgfog ie naa

    trustggs td`s ygnr ti tncg td`s priogss eirwnrj.

    ]g nrg nasi oifs`jgr`fm diw ti gfoiurnmg naa gkpaiygrs ti priv`jg nppripr`ntg

    rgt`rgkgft kgodnf`sks eir tdg`r gkpaiyggs, ns pnrt ie tdg brinjgr sio`na

    sgour`ty rgeirks. @f `kpagkgft`fm tdgsg rgeirks, tdg vgstgj r`mdts ie ourrgft

    kgkbgrs ie rgt`rgkgft eufjs w`aa bg pritgotgj.

    Agt kg tncg td`s ippirtuf`ty, ti oife`rk tdnt tdg Mivgrfkgft Gkpaiyggs

    Xgfs`if Eufj dns rgkn`fgj euaay eufjgj jgsp`tg tdg turki`a `f e`fnfo`na knrcgts

    `f rgogft ygnrs. N 5 pgr ogft `forgnsg `f o`v`a sgrv`og pgfs`ifs w`aa bg geegotgj `f

    Npr`a td`s ygnr.

    Orgj`t

    Zdgrg dns bggf rnp`j mriwtd `f ufsgourgj orgj`t `f rgogft ygnrs. Zdg sdnrg ie

    fgw kirtmnmg agfj`fm dns enaagf rnp`jay, nfj `s fiw agss tdnf ir nakist gquna

    ti bitd fgw vgd`oag orgj`t nfj fgw pgrsifna ainfs. ]g w`aa gfmnmg w`td tdg

    bnfc`fm sgotir ti gxpairg diw ti `forgnsg tdg agvga nfj sdnrg ie fgw kirtmnmg

    ainfs. _knaa bus`fgss e`fnfo`fm kust nasi bg suppirtgj ti n enr mrgntgr gxtgft

    tdnf `s bg`fm jifg.

    ]g nrg oifogrfgj by tdg nbusg ie gkiaukgft nttnodkgft irjgrs tdnt dns aget

    knfy wircgrs w`tdiut kifgy ti a`vg if netgr tdgy dnvg sgrv`ogj tdg`r jgbts

    gvgry kiftd. ]g nrg `f j`souss`if w`td tdg Fnt`ifna Orgj`t Rgmuantir, tdg

    Jgpnrtkgft ie Lust`og nfj bnfcs, ti gfsurg tdnt tdg agfj`fm knrcgt rgkgj`gs

    `ts bgdnv`iur. @f tdg kgnfwd`ag, naa gkpaiygrs, `foauj`fm tdg puba`o sgotir, onf

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    28>? Bujmgt _pggod

    28

    pany n riag nfj nss`st tdg`r wircgrs ti knfnmg tdg`r e`fnfogs nfj ti `ftgrrimntg

    naa gkiaukgft nttnodkgft ir mnrf`sdgg irjgrs ti gfsurg tdnt tdgy dnvg bggf

    pripgray `ssugj. @ nasi onaa if tdg vnr`ius anw sio`gt`gs ti tncg not`if nmn`fst

    kgkbgrs wdi nbusg tdg systgk.

    Znx pia`oy

    Naaiw kg ti turf fiw ti tdg rgvgfug pripisnas.

    ]g e`fj iursgavgs `f n odnaagfm`fm pgr`ij, w`td rgvgfugs aiwgr tdnf gxpgotgj

    by R>5.? b`aa`if oikpnrgj w`td gst`kntgs nt tdg t`kg ie tdg 28>2 bujmgt. Zd`s `s

    prgjik`fnftay jug ti wgnc goifik`o mriwtd jur`fm tdg sgoifj dnae ie 28>2,

    k`f`fm sgotir j`srupt`ifs nfj aiwgr oikkij`ty pr`ogs. Znx rgvgfugs nrg

    gxpgotgj ti `kprivg ivgr tdg kgj`uk-tgrk `f a`fg w`td d`mdgr goifik`o mriwtdnfj tdg stnb`a`znt`if ie cgy oikkij`ty pr`ogs.

    Ivgr tdg pnst jgonjg, wg dnvg stgnj`ay brinjgfgj tdg tnx bnsg, bitd tdriumd

    pia`oy rgeirks nfj `kprivgj rgvgfug njk`f`strnt`if. Zd`s dns knjg substnft`na

    tnx rga`ge piss`bag, oiftr`but`fm bitd ti diusgdiaj j`spisnbag `foikg nfj n

    aiwgr oist ie ji`fm bus`fgss.

    Zdg kn`f tnx pripisnas eir 28>? nrg ns eiaaiws? Bujmgt _pggod

    2>

    @forgnsgs `f gxo`sg jut`gs if naoidia nfj tibnooi prijuots ie bgtwggf7.= nfj >8 pgr ogft, nfj

    @ftrijuot`if ie tdg onrbif tnx `f 28>7, timgtdgr w`td tdg pdns`fm-iut ie

    tdg gagotr`o`ty agvy.

    N tnx rgv`gw w`aa bg `f`t`ntgj td`s ygnr ti nssgss iur tnx pia`oy ernkgwirc nfj `ts

    riag `f suppirt`fm tdg iblgot`vgs ie `foaus`vg mriwtd, gkpaiykgft, jgvgaipkgft

    nfj e`sona sustn`fnb`a`ty, nkifmst itdgr td`fms.

    Zdg Bujmgt Rgv`gw iuta`fgs vnr`ius kgnsurgs pripisgj ti pritgot tdg tnx bnsg

    nfj a`k`t tdg soipg eir tnx agncnmg nfj nvi`jnfog. Zdg tnxnt`if ie trusts w`aa

    oikg ufjgr rgv`gw ti oiftria nbusg3 kij`e`ont`ifs nrg pripisgj ti tdg tnx

    trgntkgft ie gkpaiykgft sdnrg sodgkgs nfj j`snb`a`ty ir `foikg-pritgot`ifpia`o`gs3 iutstnfj`fm j`ee`ouat`gs `f tdg j`st`fot`if bgtwggf jgbt nfj gqu`ty w`aa

    bg njjrgssgj3 nfj `t `s pripisgj tdnt eirg`mf bus`fgssgs wd`od sgaa g-biics,

    kus`o nfj itdgr j`m`tna miijs nfj sgrv`ogs sdiuaj bg rgqu`rgj ti rgm`stgr ns

    UNZ vgfjirs, `f a`fg w`td rgmuant`ifs wd`od dnvg bggf njiptgj by tdg

    Guripgnf Wf`if nfj itdgr lur`sj`ot`ifs.

    Znx njk`f`strnt`if

    K`aa`ifs ie difgst tnxpnygrs `f iur oiuftry oift`fug ti sustn`f iur mriwtd nfj

    jgvgaipkgft nmgfjn. Zi tdgk wg iwg n jgbt ie mrnt`tujg nfj, kirg

    `kpirtnftay, n oikk`tkgft ti spgfj tdnt kifgy w`sgay, gee`o`gftay nfj

    geegot`vgay. ]g tdnfc yiu!

    Znx nvi`jnfog

    ]g nasi iwg `t ti iur tnxpnygrs ti gfsurg tdgy nrg fit onrry`fm tdg burjgf ie

    tdisg wdi bgfge`t erik iur oiuftrys `fernstruoturg nfj rgsiurogs w`tdiutpny`fm tdg`r en`r sdnrg ie tdg oists.

    Nriufj tdg wiraj, tnxpnygrs nfj tdg`r mivgrfkgfts nrg odnaagfm`fm anrmg

    kuat`fnt`ifna oikpnf`gs tdnt pny a`ttag ir fi tnx `f tdg oiuftr`gs `f wd`od tdgy

    ipgrntg. Kggt`fm `f Kisoiw gnra`gr td`s kiftd, e`fnfog k`f`stgrs ie tdg M28

    oiuftr`gs wgrg uf`tgj `f suppirt`fm nf ivgrdnua ie `ftgrfnt`ifna oikpnfy tnx

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    28>? Bujmgt _pggod

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    ruags ti njjrgss td`s `ssug. Zdg _iutd Ner`onf Rgvgfug _grv`og `s ourrgftay

    gfmnm`fm w`td oikpnf`gs tdnt dnvg tdg`r bnsg ie ipgrnt`ifs `f _N but nppgnr ti

    dnvg sd`etgj n anrmg pripirt`if ie tdg`r prie`ts ti aiw tnx lur`sj`ot`ifs wdgrg ifay

    n egw pgipag nrg gkpaiygj. Zd`s `s ufnoogptnbag!

    _NR_ `s nasi pursu`fm sodgkgs `jgft`e`gj ufjgr tdg rgv`sgj mgfgrna nft`-

    nvi`jnfog ruags eiaaiw`fm sgvgrna ygnrs pn`fstnc`fm wirc trno`fm trnfsnot`ifs

    tdriumd kuat`pag lur`sj`ot`ifs nfj gft`t`gs. Zdgsg bgfge`ts typ`onaay noorug ti

    njv`sirs nfj prg-gx`st`fm sdnrgdiajgrs, rntdgr tdnf fgw sdnrgdiajgrs wdi

    wgrg `ftrijuogj ns tdg istgfs`bag bgfge`o`nr`gs ie tdg trnfsnot`ifs.

    Uiauftnry j`soaisurg

    N tgkpirnry viauftnry j`soaisurg primrnkkg wns `kpagkgftgj ufjgragm`sant`if gfnotgj `f 28>8 wd`od naaiwgj tnxpnygrs `f jgenuat ti rgmuanr`sg

    tdg`r tnx neen`rs. Kirg tdnf >4 888 tnxpnygrs knjg usg ie tdg primrnkkg nfj

    tnx ie kirg tdnf R? b`aa`if dns si enr bggf oiaagotgj ns n rgsuat ie tdg

    primrnkkg.

    Erik > Iotibgr 28>2, n pgrknfgft viauftnry j`soaisurg primrnkkg bgonkg

    geegot`vg ns pnrt ie tdg Znx Njk`f`strnt`if Not (28>>). _ikg =88 tnxpnygrs

    dnvg nargnjy oikg eirwnrj. Znx ie kirg tdnf R288 k`aa`if w`aa bg oiaagotgj

    bgeirg tdg gfj ie Knrod 28>?.

    Fif-oikpa`nfog

    _NR_ `s nasi tnrmgt`fm itdgr nrgns ie fif-oikpa`nfog, `foauj`fm rgo`p`gfts ie

    mivgrfkgft gxpgfj`turg wdi nrg fit up ti jntg w`td tdg`r tnxgs. By wirc`fm

    oaisgay w`td Zrgnsury nfj `ftgreno`fm w`td tdg mivgrfkgft pnykgft systgk,

    _NR_ dns `jgft`e`gj oikpnf`gs wdi dnvg rgog`vgj pnykgfts but dnvg fit

    jgoanrgj tdg`r euaa `foikg. Zdgy nrg bg`fm nuj`tgj, nfj itdgrs w`aa eiaaiw.

    Zd`s `ftgrvgft`if w`aa bg eurtdgr ufjgrp`ffgj by tdg rgeirk ie tdg Znx Oagnrnfog

    Ogrt`e`ontg priogss wd`od @ nffiufogj `f Iotibgr.

    @f tdg fgnr euturg, _NR_ w`aa `ftrijuog n _`fmag Rgm`strnt`if priogss `f wd`od

    oikpnf`gs nrg nbag ti rgm`stgr ifog-iee `f n s`kpag knffgr eir naa tnx typgs nfj

    Oustiks not`v`t`gs.

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    28>? Bujmgt _pggod

    2?

    If td`s, wg onf pgrdnps oifs`jgr njj`fm tdg summgst`if by Nknfjn Dnygs,

    wdi rufs n sknaa bus`fgss `f Onpg Ziwf. _dg pripisgs tdnt n s`fmag jntnbnsg

    ie suppa`grs ti mivgrfkgft bg orgntgj iut ie naa tdg oikpnf`gs tdnt nppay ti

    _NR_ eir tnx oagnrnfog ogrt`e`ontgs. @f njj`t`if ti rgjuo`fm tdg burjgf if sknaa

    bus`fgssgs, Nknfjn snys td`s jntnbnsg w`aa dgap rgjuog oirrupt`if bgonusg ie

    tdg t`mdtgr fnt`ifna ivgrs`mdt ivgr oikpnf`gs wdi nrg rgm`stgrgj.

    Kgj`uk-tgrk gxpgfj`turg ernkgwirc nfj j`v`s`if ie rgvgfug

    @ dnvg `fj`ontgj knfy ie tdg spgo`e`o primrnkkgs nfj not`v`t`gs ie mivgrfkgft

    tdnt oiftr`butg ti iur mriwtd nfj sio`na jgvgaipkgft iblgot`vgs. Naaiw kg ti

    sukknr`sg tdg ernkgwirc w`td`f wd`od tdgsg naaiont`ifs nrg knjg.

    Zdg 28>? Bujmgt priv`jgs eir oift`fugj rgna mriwtd `f spgfj`fm ti suppirtsgrv`og jga`vgry, nfj ti gxpnfj `fvgstkgft `f `fernstruoturg. @t w`aa nasi

    nooikkijntg tdg oists ie tdg tdrgg-ygnr puba`o sgrv`og wnmg nmrggkgft

    s`mfgj anst ygnr.

    @f tdg pnst, wg dnvg bggf nbag ti njj substnft`naay ti kgj`uk tgrk spgfj`fm

    panfs jur`fm tdg Bujmgt, but td`s ygnr `s j`eegrgft. Kifgy dns bggf tncgf nwny

    erik primrnkkgs tdnt nrg fit pgreirk`fm ir nrg fit na`mfgj ti mivgrfkgfts

    oirg pr`ir`t`gs nfj m`vgf ti primrnkkgs tdnt nrg jga`vgr`fm ns panffgj.

    Zdg kn`f nppripr`nt`if priv`jgs eir R> 877 b`aa`if `f gxpgfj`turg fgxt ygnr,

    r`s`fm ti R> 225 b`aa`if `f 28>7/>5. Jgbt-sgrv`og oists w`aa oikg ti R>88 b`aa`if

    fgxt ygnr, nfj R: b`aa`if `s sgt ns`jg ns n oift`fmgfoy rgsgrvg. Zd`s agnvgs

    R07> b`aa`if ti bg j`v`jgj bgtwggf tdg fnt`ifna, priv`fo`na nfj aiona spdgrgs.

    Fnt`ifna jgpnrtkgfts nrg naaiontgj :=.5 pgr ogft ie nvn`anbag eufjs `f 28>?/>:.

    Xriv`fogs nrg naaiontgj :?.7 pgr ogft, kn`fay eir gjuont`if, dgnatd nfj sio`na

    wgaenrg. Aiona mivgrfkgft rgog`vgs 4.0 pgr ogft, pr`knr`ay eir priv`j`fm bns`o

    sgrv`ogs ti aiw-`foikg diusgdiajs.

    Naaiont`ifs erik tdg oift`fmgfoy rgsgrvg w`aa bg knjg antgr `f tdg ygnr, kn`fay

    eir ufeirgsggnbag nfj ufnvi`jnbag gxpgfj`turg. ]irc `s `f primrgss ti

    jgtgrk`fg eufj`fm rgqu`rgkgfts eir rgoifstruot`if nfj rgdnb`a`tnt`if eiaaiw`fm

    eaiij jnknmg `f ]gstgrf Onpg, Cwn\uau-Fntna, A`kpipi nfj Kpuknanfmn. Nf

    naaiont`if w`aa nasi bg knjg `f tdg njlustkgfts nppripr`nt`if eir tdg J`fnagj`

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    28>? Bujmgt _pggod

    2:

    sodiias oiffgot`v`ty primrnkkg nfj itdgr brinjbnfj `fernstruoturg prilgots,

    sublgot ti e`fna`snt`if ie `kpagkgftnt`if panfs.

    Zdg gqu`tnbag j`v`s`if ie rgvgfug bgtwggf priv`fogs nfj kuf`o`pna`t`gs tncgs

    `fti nooiuft tdg 28>> Ogfsus, wd`od sdiws substnft`na sd`ets `f tdg j`str`but`if

    nfj nmg struoturg ie tdg pipuant`if s`fog 288>. Zdg odnfmgs ti priv`fo`na nfj

    kuf`o`pna naaiont`ifs w`aa bg pdnsgj `f ti nvi`j j`srupt`if ie sgrv`ogs.

    Naaiont`ifs ti priv`fogs nfj kuf`o`pna`t`gs

    Zdg priv`fo`na gqu`tnbag sdnrg nkiufts ti R??4 b`aa`if `f 28>?/>:, nfj

    oifj`t`ifna mrnfts ti priv`fogs w`aa titna R== b`aa`if. Njj`t`ifna naaiont`ifs dnvg

    bggf knjg ti `forgnsg gkpaiykgft ie sio`na wircgrs nfj ti priv`jg njj`t`ifna

    suppirt ti fif-mivgrfkgftna irmnf`snt`ifs wd`od priv`jg or`t`ona wgaenrgsgrv`ogs. Zdgrg `s njj`t`ifna eufj`fm eir tgnodgrs `f tdg piirgst 28 pgr ogft ie

    sodiias nfj mrnjg R oanssgs, nfj eir oikkuf`ty a`brnry sgrv`ogs. Xriv`fogs nrg

    nasi eufjgj eir nf gxpnfs`if `f D@U nfj N`js primrnkkgs nfj nf `kprivgj ZB

    j`nmfis`s systgk.

    @fernstruoturg trnfsegrs ti priv`fogs dnvg `forgnsgj sdnrpay `f rgogft ygnrs,

    mriw`fm erik R:.4 b`aa`if `f 2887/85 ti R?0.= b`aa`if `f 28>2/>?. Zi `kprivg tdg

    quna`ty ie spgfj`fm, tdg nppa`ont`if priogss eir `fernstruoturg mrnfts `s bg`fm

    rgv`sgj< priv`fogs w`aa bg rgqu`rgj ti subk`t bu`aj`fm panfs twi ygnrs ndgnj ie

    `kpagkgftnt`if nfj w`aa ifay rgog`vg naaiont`ifs `e panfs kggt ogrtn`f

    bgfodknrcs.

    N titna ie R47 b`aa`if `s naaiontgj eir trnfsegr ti kuf`o`pna`t`gs `f 28>?/>:, r`s`fm

    ti R>8> b`aa`if `f 28>7/>5. Njj`t`ifna naaiont`ifs nrg knjg eir kuf`o`pna wntgr

    `fernstruoturg, puba`o trnfspirt nfj `ftgmrntgj o`ty jgvgaipkgft.

    Oifsia`jntgj mivgrfkgft gxpgfj`turg

    Zdgrg `s oifs`jgrnbag jgtn`a `f tdg Bujmgt Rgv`gw nfj tdg Gst`kntgs ie

    Fnt`ifna Gxpgfj`turg if mivgrfkgft spgfj`fm panfs nfj sgrv`og jga`vgry

    tnrmgts. @ w`aa d`mda`mdt lust n egw cgy pi`fts.

    Oifsia`jntgj mivgrfkgft gxpgfj`turg `s bujmgtgj ti `forgnsg by 4.> pgr ogft n

    ygnr, erik R>.> tr`aa`if `f 28>2/>? ti R>.? tr`aa`if `f 28>7/>5.

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    Lib orgnt`if nfj anbiur

    Naaiont`ifs eir gkpaiykgft primrnkkgs `forgnsg by >?.7 pgr ogft n ygnr ivgr

    tdg fgxt tdrgg ygnrs.

    Zdgrg w`aa bg d`mdgr eufj`fm eir gkpaiykgft prilgots ie fif-mivgrfkgftna

    irmnf`snt`ifs nfj eir ]irc`fm eir E`sdgr`gs. Zdg gxpnfjgj puba`o wircs

    primrnkkg n`ks ti suppirt 54: 488 euaat`kg gqu`vnagft libs `f 28>?/>:.

    Njj`t`ifna naaiont`ifs nrg nasi knjg eir tdg sdgatgrgj gkpaiykgft enotir`gs ie

    tdg Jgpnrtkgft ie Anbiur, nfj ti suppirt tdg wirc ie tdg Oikk`ss`if eir

    Oifo`a`nt`if, Kgj`nt`if nfj Nrb`trnt`if.

    Dgnatd nfj sio`na pritgot`if

    Oifsia`jntgj spgfj`fm if dgnatd nfj sio`na pritgot`if `s R254 b`aa`if `f

    28>?/>:.

    Dgnatd `fernstruoturg rgkn`fs n pr`ir`ty. @f 28>2, n titna ie > 05= dgnatd eno`a`t`gs

    nfj :0 furs`fm oiaagmgs wgrg `f j`eegrgft stnmgs ie panff`fm, oifstruot`if nfj

    rgeurb`sdkgft.

    _ubstnft`na `kprivgkgfts `f tdg sio`na nss`stnfog pnykgfts systgk nrg `fprimrgss, priv`j`fm gns`gr noogss by rgo`p`gfts ti tdg`r mrnfts. Zdg oist ie

    sio`na mrnfts pnykgfts dns bggf rgjuogj erik R?2 ti R>5 pgr j`sbursgkgft.

    Gjuont`if, spirt nfj ouaturg

    _pgfj`fm if gjuont`if, spirt nfj ouaturg w`aa nkiuft ti R2?? b`aa`if `f

    28>?/>:. Ivgr tdg pgr`ij ndgnj, tdg bns`o gjuont`if sgotir w`aa eious if

    `kpriv`fm fukgrnoy nfj a`tgrnoy, gxpnfj`fm gfriakgft `f mrnjg R nfj rgjuo`fm

    sodiia `fernstruoturg bnocaims. Zimgtdgr w`td tdg brinjgr gjuont`if

    `fernstruoturg mrnft, R2?.0 b`aa`if `s nvn`anbag ti priv`fo`na gjuont`if

    jgpnrtkgfts eir `fernstruoturg ivgr tdg fgxt tdrgg ygnrs.

    R=88 k`aa`if dns bggf naaiontgj ivgr tdg KZGE pgr`ij eir tdg tgodf`ona

    sgoifjnry sodiias rgonp`tna`snt`if mrnft. Zd`s w`aa e`fnfog oifstruot`if nfj

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    rgeurb`sdkgft ie 270 wircsdips nfj trn`f`fm ie ivgr > 788 tgodfiaimy

    tgnodgrs.

    Zrnfsegrs ti d`mdgr gjuont`if `fst`tut`ifs `forgnsg erik R28.: b`aa`if `f 28>2/>?

    ti R2:.5 b`aa`if `f 28>7/>5. Zdg titna fukbgr ie stujgfts gfriaagj `f d`mdgr

    gjuont`if `fst`tut`ifs `s gxpgotgj ti `forgnsg erik 0>8 888 ourrgftay ti 008 888

    `f 28>7. Eufj`fm dns bggf naaiontgj eir tdg oifstruot`if ie fgw uf`vgrs`t`gs `f

    tdg Firtdgrf Onpg nfj Kpuknanfmn ti oikkgfog td`s ygnr.

    Goifik`o sgrv`ogs

    Gxpgfj`turg if goifik`o sgrv`ogs `f 28>?/>: w`aa nkiuft ti R:4 b`aa`if,

    `foauj`fm R7.? b`aa`if eir tdg knfuenotur`fm oikpgt`vgfgss gfdnfogkgft

    primrnkkg nfj R2.0 b`aa`if eir spgo`na goifik`o zifgs.

    Njj`t`ifna naaiont`ifs `foaujg R:78 k`aa`if ivgr tdrgg ygnrs ti tdg Goifik`o

    Jgvgaipkgft Jgpnrtkgft eir tdg _knaa Gftgrpr`sg E`fnfog Nmgfoy. Zdg

    Jgpnrtkgft ie Nmr`ouaturg, Eirgstry nfj E`sdgr`gs w`aa oift`fug `ts suppirt eir

    sknaadiajgr enrkgrs. Njj`t`ifna eufj`fm migs ti tdg Jgpnrtkgft ie K`fgrna

    Rgsiurogs ti suppirt bgfge`o`nt`if nfj rgdnb`a`tntg jgrga`ot nfj iwfgragss

    k`fgs.

    Zdg naaiont`if ti tdg Jgpnrtkgft ie _o`gfog nfj Zgodfiaimy `foaujgs R2 b`aa`ifti suppirt tdg _qunrg C`aikgtrg Nrrny prilgot.

    Zrnfspirt, gfgrmy nfj oikkuf`ont`ifs

    Gxpgfj`turg if trnfspirt, gfgrmy nfj oikkuf`ont`ifs w`aa nkiuft ti

    R40 b`aa`if fgxt ygnr.

    Zdg naaiont`if ti tdg Jgpnrtkgft ie Zrnfspirt `forgnsgs erik R:2.? b`aa`if fgxt

    ygnr ti R7?.: b`aa`if `f 28>7/>5, rgeagot`fm `forgnsgj naaiont`ifs ti tdg

    Xnssgfmgr Rn`a Nmgfoy eir `ts riaa`fm stioc priourgkgft primrnkkg nfj eurtdgr

    `fvgstkgft `f tdg fnt`ifna rinj fgtwirc. Njj`t`ifna eufj`fm migs ti `ftgmrntgj

    puba`o trnfspirt fgtwircs `f urbnf nrgns, nfj eir priv`fo`na rinj kn`ftgfnfog.

    Zdg `ftgmrntgj fnt`ifna gagotr`e`ont`if mrnft `s naaiontgj njj`t`ifna eufj`fm ti

    `forgnsg tdg fukbgr ie fgw gagotr`o`ty oiffgot`ifs by 5:7 888 ivgr tdg fgxt

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    tdrgg ygnrs. Zdg sianr wntgr mgysgr primrnkkg w`aa bg oift`fugj uft`a 28>7/>5

    nfj _gftgod w`aa rgog`vg R700 k`aa`if ivgr tdg kgj`uk tgrk eir tdg k`mrnt`if

    erik nfnaimug ti j`m`tna tgrrgstr`na tgagv`s`if.

    Aiona mivgrfkgft, oikkuf`ty nkgf`t`gs nfj dius`fm

    Aiona mivgrfkgft, oikkuf`ty nkgf`t`gs nfj dius`fm nrg naaiontgj R>?2 b`aa`if

    `f 28>?/>:. Zdg anrmgst `forgnsgs mi ti buac wntgr, wntgr trgntkgft nfj wntgr

    j`str`but`if prilgots, nfj naaiont`ifs ti tdg aiona mivgrfkgft gqu`tnbag sdnrg.

    R:.? b`aa`if `s naaiontgj ti n fgw mrnft ti bg njk`f`stgrgj by tdg Jgpnrtkgft ie

    ]ntgr Neen`rs, priv`j`fm eir wntgr trgntkgft, j`str`but`if, jgknfj knfnmgkgft

    nfj suppirt eir rurna kuf`o`pna`t`gs. Zdg Kuf`o`pna @fernstruoturg _uppirt

    Nmgfoy ie tdg Jgpnrtkgft eir Oiipgrnt`vg Mivgrfnfog rgog`vgs R428 k`aa`ifti priv`jg tgodf`ona nss`stnfog ti rurna nfj aiw-onpno`ty kuf`o`pna`t`gs.

    Eufj`fm eir `kpriv`fm duknf sgttagkgfts w`aa mriw erik R25.2 b`aa`if ti

    R?8.7 b`aa`if ivgr tdg fgxt tdrgg ygnrs, `foauj`fm R>.> b`aa`if ti suppirt tdg

    `feirkna sgttagkgft upmrnj`fm primrnkkg `f k`f`fm tiwfs. _io`na dius`fm

    rgog`vgs nf njj`t`ifna naaiont`if ie R547 k`aa`if.

    Mgfgrna puba`o sgrv`ogs

    Zdg mgfgrna puba`o sgrv`ogs eufot`if `s naaiontgj R7= b`aa`if `f 28>?/>:. Zd`s

    `foaujgs tdg _NR_ bujmgt ie R0.7 b`aa`if, wd`od `s lust ivgr > pgr ogft ie

    rgvgfug ti bg oiaagotgj.

    Zdg Jgpnrtkgft ie Xuba`o ]ircs rgpr`ir`t`sgj R:5: k`aa`if ivgr tdg kgj`uk-

    tgrk ti eufj `ts turfnriufj strntgmy, wd`od eiousgs if agnsg nfj pripgrty

    knfnmgkgft pirteia`is. Zdg Xuba`o _grv`og Oikk`ss`if rgog`vgs R=>.: k`aa`if

    ti oikbnt oirrupt`if nfj njjrgss mr`gvnfogs.

    Ivgr tdg KZGE pgr`ij, tdg Jgpnrtkgft ie Dikg Neen`rs w`aa spgfj R> b`aa`if if

    `ts `feirknt`if systgks kijgrf`snt`if primrnkkg, wd`od dns nargnjy agj ti

    substnft`na rgjuot`ifs `f tdg t`kg rgqu`rgj ti prijuog iee`o`na jioukgfts.

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    Zdg naaiont`ifs eir jgegfog, puba`o irjgr nfj snegty nkiuft ti R>7: b`aa`if `f

    28>?/>:.

    Xriv`s`if `s knjg eir pgnog-cggp`fm ipgrnt`ifs `f tdg Ogftrna Ner`onf Rgpuba`o,wdgrg :88 jgegfog eirog pgrsiffga dnvg bggf jgpaiygj.

    Zdg Jgpnrtkgft ie Xia`og dns rgpr`ir`t`sgj R2.7 b`aa`if ivgr tdg KZGE ti

    `kprivg jgtgot`vg nfj eirgfs`o onpnb`a`ty. Zdg Jgpnrtkgft ie Lust`og nfj

    Oifst`tut`ifna Jgvgaipkgft rgog`vgs R>.2 b`aa`if eir tdg or`k`fna lust`og sgotir

    rgvnkp nfj kijgrf`snt`if primrnkkg. Zdgrg `s `forgnsgj eufj`fm naaiontgj ti

    tdg Fnt`ifna Xrisgout`fm Nutdir`ty eir tdg Zdutduzgan Onrg Ogftrgs. Zdg Xuba`o

    Xritgotir ie _iutd Ner`on rgog`vgs eufj`fm ti `forgnsg `ts `fvgst`mnt`vg onpno`ty

    nfj njj`t`ifna eufjs nrg nasi knjg ti Agmna N`j _iutd Ner`on nfj tdg _iutdNer`onf Duknf R`mdts Oikk`ss`if.

    Xriourgkgft nfj oikbnt`fm oirrupt`if

    Anst ygnr @ sn`j ti td`s Diusg tdnt wg w`aa oift`funaay gfjgnviur ti `forgnsg tdg

    vnaug wd`od mivgrfkgft rgog`vgs eir tdg kifgy `t spgfjs.

    Agt kg bg ernfc. Zd`s `s n j`ee`ouat tnsc w`td tii knfy pi`fts ie rgs`stnfog!

    Diwgvgr, wg dnvg rgm`stgrgj sikg primrgss. @f tdg prgsgft systgk,priourgkgft trnfsnot`ifs tncg panog nt tii knfy aiona`t`gs nfj tdg oiftrnots

    nrg sdirt tgrk. Oifsgqugftay tdgrg nrg dufjrgjs ie tdiusnfjs ie trnfsnot`ifs

    erik n kuat`tujg ie ogftrgs. Zdgrg `s vgry a`ttag v`s`b`a`ty ie naa tdgsg trnfsnot`ifs.

    ]d`ag iur nbagst o`v`a sgrvnfts dnvg dnj mrgnt j`ee`ouaty `f ipt`k`s`fm

    priourgkgft, `t dns y`gajgj r`od p`oc`fms eir tdisg wdi sggc ti gxpai`t `t. Zdgrg

    nrg nasi tii knfy pgipag wdi dnvg n stncg `f cggp`fm tdg systgk tdg wny `t `s.

    Iur siaut`ifs, d`tdgrti, dnvg fit kntodgj tdg s`zg nfj oikpagx`ty ie tdg

    odnaagfmg. Ns kuod ns @ wnft, @ onffit s`kpay wnvg n knm`o wnfj ti kncg

    tdgsg pribagks j`snppgnr. Zd`s `s mi`fm ti tncg n spgo`na geeirt erik naa ie us `f

    Mivgrfkgft, nss`stgj by pgipag `f bus`fgss nfj brinjgr sio`gty. Nfj `t w`aa

    tncg t`kg. But wg nrg jgtgrk`fgj ti kncg primrgss.

    Zdg priogss eir sgtt`fm up tdg Od`ge Xriourgkgft Iee`og `f tdg Fnt`ifna

    Zrgnsury dns bgmuf `f gnrfgst nfj @ sdnaa siif bg nbag ti nffiufog tdg fnkg

    ie n Od`ge Xriourgkgft Iee`ogr. N prilgot tgnk sgoifjgj erik stntg nmgfo`gs

    nfj tdg pr`vntg sgotir dns `jgft`e`gj eiur kn`f strgnks ie wirc, `fviav`fm

    `kkgj`ntg rgkgj`na not`ifs, `kpriv`fm tdg ourrgft systgk, stnfjnrj`s`fm tdg

    Jgegfog, puba`o irjgr nfj snegty

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    priourgkgft ie or`t`ona `tgks noriss naa mivgrfkgft nfj tdg aifm-tgrk

    kijgrf`snt`if ie tdg gft`rg systgk.

    Nkifm tdg e`rst `f`t`nt`vgs ie tdg OXI w`aa bg ti gfdnfog tdg gx`st`fm systgk ie

    pr`og rgegrgfo`fm. Zd`s w`aa sgt en`r vnaug pr`ogs eir ogrtn`f miijs nfj sgrv`ogs.

    _goifjay, `t w`aa p`ait priourgkgft trnfseirknt`if primrnkkgs `f tdg

    Jgpnrtkgfts ie Dgnatd nfj Xuba`o ]ircs, fnt`ifnaay nfj `f tdg priv`fogs.

    Fnt`ifna Zrgnsury `s ourrgftay sorut`f`s`fm =5 bus`fgss gft`t`gs w`td oiftrnots

    wirtd R4.: b`aa`if wd`od wg bga`gvg dnvg `fer`fmgj tdg priourgkgft ruags, wd`ag

    _NR_ `s ourrgftay nuj`t`fm kirg tdnf ?88 bus`fgss gft`t`gs nfj sorut`f`s`fm

    nfitdgr =88 gft`t`gs. Zdg vnaug ie tdgsg oiftrnots `s gst`kntgj nt ivgr

    R>8 b`aa`if. _i enr 2>5 onsgs dnvg bggf e`fna`sgj rgsuat`fm `f nssgsskgfts

    nkiuft`fm ti ivgr R:48 k`aa`if bg`fm rn`sgj. Zdg E`fnfo`na @ftgaa`mgfog Ogftrg

    dns rgegrrgj ivgr R5.7 b`aa`if eir `fvgst`mnt`if a`fcgj ti oirrupt not`v`t`gs.

    @ euaay suppirt K`f`stgr _`suaus onaa eir nppripr`ntg ourbs if iee`o`nas ji`fm

    bus`fgss w`td mivgrfkgft. @ w`aa oikpagkgft dgr `f`t`nt`vg by na`mf`fm tdg Xuba`o

    E`fnfog Knfnmgkgft Not w`td tdg priv`s`ifs ie tdg Xuba`o _grv`og Not.

    ]irajw`jg, spgo`na kgnsurgs nrg bg`fm tncgf ti ivgrsgg tdg nooiufts ie wdnt

    dnvg bgoikg cfiwf ns pia`t`onaay gxpisgj pgrsifs puba`o rgprgsgftnt`vgs

    nfj sgf`ir iee`o`nas. @ dnvg nscgj tdnt tdg E@O sdiuaj gxpairg diw wg k`mdt

    br`fm _iutd Ner`on `fti a`fg w`td tdgsg `ftgrfnt`ifna nft`-oirrupt`if nfj nft`-kifgy anufjgr`fm stnfjnrjs.

    Znxpnygrs, nfj `fjggj naa _iutd Ner`onfs nrg ufjgrstnfjnbay `kpnt`gft eir

    tnfm`bag odnfmg. N rgourr`fm tdgkg `f tdg t`ps sgft ti kg eir td`s Bujmgt wns ti

    gfsurg vnaug eir kifgy. Xgtgr Kn`bgai, nmgj 2:, erik Xrgtir`n, sukkgj `t up

    ns eiaaiws< K`f`stgr @ wif't bg enfoy w`td wirjs ir oikpa`ontgj `jgns ky

    njv`og eir n dgnatdy nfj sustn`fnbag e`sous `s ti brutnaay grnj`ontg oirrupt`if,

    tdgf wg w`aa bg difiurgj ti pny tnxgs.

    Kr Kn`bgai, @ oiuajft nmrgg kirg. Riit`fm iut oirrupt`if rgqu`rgs oiaagot`vg

    geeirt erik naa ie us.

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    Oifoaus`if

    Ky s`fogrg npprgo`nt`if migs ti Xrgs`jgft \ukn nfj Jgputy Xrgs`jgft

    Kitanftdg eir tdg`r mu`jnfog nfj suppirt.

    Ky npprgo`nt`if nasi migs ti Oiaagnmugs ie tdg K`f`stgrs Oikk`ttgg if tdg

    Bujmgt, eir tdg`r oift`fuius nfj v`mirius gfmnmgkgft w`td tdg odnaagfmgs tdnt

    enog us, nfj tdg`r biaj nfj stgnjenst njv`og ti Onb`fgt.

    @ w`sd ti tdnfc ky Onb`fgt oiaagnmugs wdi oiaagot`vgay iwf td`s bujmgt. Zdg`r

    suppirt nfj ufjgrstnfj`fm eir tiumd kgnsurgs `s d`mday npprgo`ntgj.

    N dgnrtegat tdnfc yiu ti Jgputy K`f`stgr Fgfg, wdisg v`m`anft pnrt`o`pnt`if nfj

    siufj njv`og `s `fvnaunbag ti kg.

    Ky tdnfcs ti tdg KGOs ie E`fnfog, wdi pany n or`t`ona riag ns munrj`nfs ie

    :? pgr ogft ie iur spgfj`fm.

    Iur npprgo`nt`if nasi migs ti? Bujmgt _pggod

    ?>

    Zdg agnjgrsd`p ie tdg Xuba`o @fvgstkgft Oirpirnt`if, tdg E`fnfo`na_grv`ogs Binrj, tdg E`fnfo`na @ftgaa`mgfog Ogftrg nfj tdg Mivgrfkgft

    Xgfs`if Njk`f`strnt`if Nmgfoy,

    Zdg knfnm`fm j`rgotir ie FGJANO, Kr Na`stn`r _k`td, nfj tdgoifst`tugfoy rgprgsgftnt`vgs eir tdg`r gfmnmgkgfts w`td tdg Zrgnsury,

    Zdg Difiurnbag Zdnbn Kuenknj` nfj Odnrga jg Bggr, wdi odn`r tdg_tnfj`fm nfj _gagot Oikk`ttggs if E`fnfog rgspgot`vgay, nfj tdg

    odn`rpgrsifs ie tdg tdg Nppripr`nt`ifs Oikk`ttggs, tdg Difiurnbag

    Gaa`it _imif` nfj Zgbimi Odnnfg, wdi gfsurg tdnt Xnra`nkgft rgkn`fs

    n v`brnft eiruk eir gfmnmgkgft, nooiuftnb`a`ty nfj puba`o pnrt`o`pnt`if,

    J`rgotir-Mgfgrna Aufm`sn Euz`ag (nfj Krs Euz`ag) eir d`s priegss`ifna`sk,ernfcfgss nfj prieiufj oikk`tkgft ti bu`aj`fm orgj`bag `fst`tut`ifs nfj

    njvnfo`fm mivgrfkgfts iblgot`vgs,

    Zdg knfnmgkgft tgnk nfj stnee ie tdg Fnt`ifna Zrgnsury, wdisggxtrnirj`fnry oiftr`but`ifs nfj onr`fm eir n bgttgr _iutd Ner`on gfdnfog

    iur oiuftrys stnfj`fm `f `ftgrfnt`ifna eirn,

    Ky Od`ge ie _tnee, Jifji Kimnlnfg, nfj tdg K`f`stry stnee eir tdg`rgftdus`nst`o suppirt,

    Ky vgry suppirt`vg enk`ay wdi kncg ky oiftr`but`ifs piss`bag.

    Nfj e`fnaay, @ kust gxprgss s`fogrg mrnt`tujg ti _iutd Ner`onfs erik naa pnrts ie

    tdg oiuftry wdi ieegr wirjs ie gfoiurnmgkgft ns wgaa ns or`t`qugs nfj

    oifogrfs! Zd`s `s wdnt cggps us nooiuftnbag nfj jr`vgs us ti oifstnftay

    `kprivg.

    Zdg cgy p`aanrs ie td`s Bujmgt nrg? Bujmgt _pggod

    ?2

    Euturg mriwtd `s nasi jgpgfjgft if pr`vntg-sgotir `fvgstkgft `f tdggoifiky.

    Zdg Fnt`ifna Jgvgaipkgft Xanf w`aa bg `kpagkgftgj by mivgrfkgft nfj

    bujmgts w`aa bg na`mfgj ti `t.

    Mivgrfkgft oift`fugs ti `fvgst s`mf`e`onftay `f `fernstruoturg

    ]g nrg tnc`fm njj`t`ifna stgps ti orgntg ippirtuf`t`gs eir yiufm pgipag.

    Rgjuogj rgvgfug rgsuats `f agss spgfj`fm `f tdg ygnrs ndgnj ufagss tdggoifiky mriws.

    Zdgrg nrg fgw ippirtuf`t`gs ti bg sg`zgj `f Ner`on nfj itdgr gkgrm`fmknrcgts.

    ]g dnvg oikk`ttgj ti rgv`gw`fm nfj nssgss`fm iur tnx pia`oy ernkgwircnfj `ts riag `f suppirt`fm tdg iblgot`vgs ie `foaus`vg mriwtd, gkpaiykgft,

    jgvgaipkgft nfj e`sona sustn`fnb`a`ty.

    N fgw aiona mivgrfkgft eirkuan bgfge`ts rurna kuf`o`pna t`gs.

    Difiurnbag _pgncgr, @ tnbag td`s bujmgt `f tdg dipg tdnt ns n fnt`if wg w`aa bg

    nbag ti r`sg nbivg iur sgot`ifna `ftgrgst, nfj, ns yiu sn`j Kr Xrgs`jgft, prgvn`a

    w`td mrgntgr kntur`ty, puaa timgtdgr nfj tncg td`s oiuftry eirwnrj.

    ]g dnvg sn`j tdnt _iutd Ner`on `s odnfm`fm. Agt us wirc timgtdgr ti gfsurg tdnt

    rgnaay, tikirriw, w`aa bg bgttgr tdnf tijny.

    @f oifoaus`if, agt kg rgk`fj td`s Diusg ie wdnt eirkgr Xrgs`jgft Fgasif

    Knfjgan sn`j< ]dnt oiufts `f a`eg `s fit tdg kgrg enot tdnt wg dnvg a`vgj. @t `s

    wdnt j`eegrgfog wg dnvg knjg ti tdg a`vgs ie itdgrs tdnt w`aa jgtgrk`fg tdg

    s`mf`e`onfog ie tdg a`eg wg agnj

    @ tdnfc yiu

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    28>? Bujmgt _pggod

    ??

    _ukknry ie tdg fnt`ifna bujmgt

    28>2/>? 28>?/>: 28>:/>7 28>7/>5

    Bujmgt Rgv`sgj Bujmgt Kgj`uk-tgrk gst`kntgsgst`kntg gst`kntg gst`kntg

    R k`aa`if

    RGUGFWG

    Gst`kntg ie rgvgfug bgeirg tnx pripisnas 4=7 ?=4

    Bujmgt 28>?/>: pripisnas 2>8 @forgnsg `f `fonfjgsogft buab agvy 78 @forgnsg `f panst`o bnm agvy 08

    @forgnsg `f OI 2 vgd`oag gk`ss`if tnx ?77

    Gst`kntg ie rgvgfug netgr tnx pripisnas =00 ?:> =42 :=: 4=2 055 05= 02? > 8=8 =2=Xgrogftnmg odnfmg erik prgv`ius ygnr >>.5 >8.0% >8.5

    GTXGFJ@ZWRG

    J`rgot odnrmgs nmn`fst tdg Fnt`ifna Rgvgfug Eufj :>0 025 :2: 5>7 :52 ?5? :07 70> 7?8 504

    Jgbt-sgrv`og oists 40 ?44 44 ?27 00 =:> >84 =>4 >>4 >5?Xriv`fo`na gqu`tnbag sdnrg ?80 87= ?>? 8>5 ??= 7=2 ?70 02: ?4? 50=

    Mgfgrna euga agvy sdnr`fm w`td kgtris 0 8:8 0 8:8 0 5>? >8 >08 >8 570_c`aas jgvgaipkgft agvy nfj _gtns 0 585 >> :88 >2 :8? >? 7:: >: 4>=

    Itdgr>)

    2 4?7 2 4?7 ? 8?2 ? 2>: ? ?52

    Nppripr`ntgj by vitg 7:? 5?8 7:2 ?72 744 542 5?7 408 547 820

    Ourrgft pnykgfts >77 48? >74 ?55 >54 45= >=0 2?: >44 ?45Zrnfsegrs nfj subs`j`gs ?=> 8>8 ?50 :40 :82 572 :?7 4>? :=5 >82Xnykgfts eir onp`tna nssgts >7 >=5 >? 8:7 >: 274 >= 708 >= 7>=Xnykgfts eir e`fnfo`na nssgts > 5:> > :7> 2 087 ? 272 ? 82:Xaus8 888

    Gst`kntg ie fnt`ifna gxpgfj`turg 050 ?57 055 05= > 877 8=7 > >?= 04> > 227 =2=Xgrogftnmg odnfmg erik prgv`ius ygnr 0.> =.0% =.=

    28>2 Bujmgt gst`kntg ie gxpgfj`turg 050 ?57 > 87? 4?8 > >?0 7=0@forgnsg / jgorgnsg (-) -2 ?04 > 2:7 -> 704

    Mriss jikgst`o prijuot ? ?8> ?=: ? 280 >:2 ? 728 254 ? 448 :85 : 2=8 4:4

    >) Oifs`sts kn`fay ie snanr`gs ie Kgkbgrs ie Xnra`nkgft, lujmgs nfj knm`strntgs.

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    28>? Bujmgt _pggod

    ?:

    _ukknry ie tdg oifsia`jntgj bujmgt

    28>2/>? 28>?/>: 28>:/>7 28>7/>5

    u mgt gv sg u mgt g uk-tgrk gst kntgsgst`kntg gst`kntg gst`kntg

    R k`aa`if

    Fnt`ifna bujmgt rgvgfug >) =00 ?:> =42 :=: 4=2 055 05= 02? > 8=8 =2=

    >87 :40 >87 ?=7 >>: 2=? >2: 5>? >?8 ?54 - -> 72> -> :?8 -> ?:8

    Oifsia`jntgj bujmgt rgvgfug?)

    08: 4?8 44= 4:0 047 =>0 > 80> >87 > >00 =77

    Fnt`ifna bujmgt gxpgfj`turg>)

    050 ?57 055 05= > 877 8=7 > >?= 04> > 227 =2=

    44 075 44 02: 0: ?>7 >85 ?70 >84 ?4:

    Oifsia`jntgj bujmgt gxpgfj`turg?)

    > 874 ?2> > 877 40> > >:0 ?08 > 2:: ?:8 > ??: >>>

    Oifsia`jntgj bujmgt bnanfog ->7? :0> ->54 8:? ->5? 5=> ->7? 2?: ->?: ?7=

    Xgrogftnmg ie MJX -:.5% -7.2% -:.5% -?.0% -?.>%

    Gxtrnirj`fnry pnykgfts -2: -2 74: -0?8 - -

    Gxtrnirj`fnry rgog`pts > 288 >8 =48 : 002 2 088 ? >88

    Oifsi a jntgj birriw fm rgqu rgkgft (fgt) ->72 ?>7 ->70 4:= ->70 580 ->78 ??: ->?> 27=

    E@FNFO@FM

    Jikgst`o ainfs (fgt) >7> >?= >:4 858 >50 4?= >5: 72? >5= ?45

    Eirg`mf ainfs (fgt) -= 5=? -4 8=0 -? ?>4 ? 852 4 47:

    Odnfmg `f onsd nfj itdgr bnanfogs 4 47> >0 455 -5 0>8 ->= 27> -:: 04?

    Zitna e`fnfo`fm (fgt) >72 ?>7 >70 4:= >70 580 >78 ??: >?> 27=

    >) Zrnfsegrs ti priv`fogs, sio`na sgour`ty eufjs nfj puba`o gft`t`gs prgsgftgj ns pnrt ie tdg fnt`ifna bujmgt

    2) Rgpnykgft ie Mnutrn`f ainf, rgpn`j by tdg Mnutgfm priv`fog ti tdg Fnt`ifna Rgvgfug Eufj, fgttgj iut `f oifsia`jnt`if

    ?) Eaiws bgtwggf fnt`ifna, priv`fo`na, sio`na sgour`ty eufjs nfj puba`o gft`t`gs nrg fgttgj iut

    Rgvgfug ie priv`fogs, sio`na sgour`ty eufjs nfj puba`o gft`t`gs

    Gxpgfj`turg ie priv`fogs, sio`na sgour`ty eufjs nfj puba`o gft`t`gs

    Rgpnykgft ie Mnutrn`f ainf2)

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    28>? Bujmgt _pggod

    ?7

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    28>? Bujmgt _pggod

    ?5

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    28>? Bujmgt _pggod