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"Ceon$arHa paMKasa QrHaucrcKor43BecryBarue na 2010 roAhHa"uro npercrerByBa n3MeHaHa "Paurara 3a nogroroBKa u nprKaxyBabeHa $unancrcxure [3Beurah" (npunennnaa3a npeHoc rogura); npnMeHta Havn no cenreMBpn2010 HacpeAcrBaoA KynyBaqn r 3a QrHaHcrcxo .[ononHyearbaHa MCOI4 1 "flpeuvHoycaojyaarueHa ueryHapoAHurecraHAap.qvr - OrpaHruleHxcKnyltoKoA cnopeA6enno6enoAenyBabanponhu.1aHh Bo paMKhre u3BecryBalbe" Ha MC<Dh7 xaj enweu4 KonnpB nar ro npuMeHyBaar MCOI/ (nprueuue 3a rcl4r4uJHr4 neptloAr4 HatAntA no l jynr 2010 ro4rxa); Kou3anoqHyBaar Ha r4sBecryBabe r flononuyaarbaHa MCC 2,4"O6eno4euyealba3a noBp3aHucrpaH]4"- f'loe4xocraeeHu6aparuaea o6eno4enyaaruaxaj eHTt,rrerrKou ce no4 (suavurenHa)KoHrponaunr enujaHyreHa BnaAara14 nojacxyeauerHa Ae$uHrnyjata 3a noBp3aHhcrpaHil (npnuexnua 3a roAuuiHr4nepuoA[ Ha r3BecryBabe Kor4ganoLrH\llaarHa vnv no 1 jaayapn 2011 ropnua); . - CuerKoBoAcrBo npe3eHTxparue" Ha MCC 32 "OuHaxcncruuHcrpyMeHru: sa AononHyBatua npaBara Ha h3AaBabeHa HoBr4 arqun (npuueHnuB3a roAr4r.uHr4r'e nepr4oAr4 Ha u3BecryBatueKor4 HaAnAno 1 Qeepyapu20lOroAusa); 3anoqHyBaar OPYKTANMAK AA. CKONJE I43I3E'IUTAI4 6EN ElrlKl4 KOH OI4HAHC14CKI4TE 31 gexeurepu2012 nOATOTOB|KA n nPE3EHTAqI4JA HA Ol4HAHCI4CKl'lTE,l43BElUTAvl 2. 3A ocHoBn (npogonxexue) 2.2. nepuoA' a KO]rCd yulTe He ce r TgnqfBiltba Kou Ce Ha Chna BOTeKOBHI4oT O6jaeenraCraHAapA14 (npo4onxex re) ycBoeHu peBeAeHh u oSuqrajanno n r craHAapAtl]r ronKyBa]ba"f1o4o6p'yeauary Mcillul (2010)" xaxo ,[ononuyea]ba Ha pasnhrrHr,t KBanilraruBHonogo6pyeabe H? 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J l ll3BElllTAl4l TPqUOq}I3ABP lJ lI nnarusa apa6orr SpyJro flxeexuqnsa cnyx6enn Og6op na Ynpaaenr HaAsopeH 3aqfleHo Hadomecroqlr Ornpeuxuxu op Perpecusa roAtauleH sa r Ocr[narr rpouror.lu 3aneH3uvl apafioreHure Pesepauparua PesBpeupaua sajy6unelru t i t l i r ; r 31,t'13 o2 avI 2t13 26,4133 1i33 2D7 '108 4,44 83 96 ,(A 1 ?Ei il ,l 10. ocTAHATl4TPOlUOql4 n flnqexqu Tpouoqu sa aABorarcKr4l i i PeoBpeaquu 3acyAcKr,l 3alpxan Aaxoxo,qAot OcrJararu uHAHpeKrHl,l u peqrcopcKl4ycnyrll 6i778 1i603 372 299 76 1i372 2leee i l i l n t l 598 31610 11168 66 5,955 2,q06 2,494 q87 77 q68 q45 381 i l i l - l \ i Ii i i '18 oPyKTAJIMAKA,q-CKOnJE ]43I3EIIJTA]4 EENEUJK14KOH OI4HAHC14CKI4TE 31 Aexeruepu2012 't1. 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CTPAH14 3A NOBP:IAH]4 OEENOAEHYBATb/\ Bo rnjagh AeHapr,l 31 gexenaepu 31 gexeuapu Ilpodax6u na: Qpyrran 4.4., Aj4oau:vrna,CnoaeHrja f1taeoeapHa YHuonA.A.,CnoeeHvrja Snpa fleja [U.a.,Kocoeo Heqrap,Cp6uja Ha6aexu od: OpyrranA.A.,Ajpoeuvuna,Cnoeerrja Heqrap , Cp6nja Xe6a,Cp6uja Tpoutotqu 3a KaManra: Opyxran 4.4., Aj4oau:uuua,Cnonenrja flnaoaapHaYHuou4.9., Cnoeexvrja I4snoc umo ce dontxu ua: Opyrran4.4., Aj4oauvuna,CnoneHrja Heqrap, Cp6nja Xe6a,Cp6uja l'lsnoc wmo ce donxu <>d: Heqrap, Cp6rja 2012 2011 6,434 1,087 144 6 60,450 66,8E4 50,03i3 26,3a)2 623 77,013 1,237 32,825 27,098 59,923 5,894 5,145 I 5,894 5 , 14 6 400,209 24,87',6 44.5 352,617 22,958 425,53i0 375,575 22,43i2 Opyrran 4.9., Aj4ooutt{ilHauMa 89.4% concrBeHocrna4 flpyuraoro. flpyurraoro,HaOaByBa coKoBhti crpynn o4 Qpyrran A.A.AjAoeuquxa.Opyxran g.g. 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KitnnranHaracrpyKrypa Ha MecevHaocHoBa.Kaxo reHepanHllnpaBulno, Paroeo4creorojer erxanusr4pa npexy cprlAcrBa ce $nuaxcnpaar oA AonropoqHuKpeA[rh o6ras6e;1eun Ha6asrhre Ha Here,KoBHnre vnl,qpyrv ApyurrBaHa l-pynaqujara. 6anxnn ce najvecro fapaHr[paH]4oA MarueHoroApyr.urBo floxasarenor Ha3aAonxeHocrHirKpajorHa rcEVHarae KaKoLllt-ocne4u: Bo mnjapluAeHapH 31 AereMeFrh 31 ;ltereMepr4 201t2 O6epcrn no KpeAHl4(4onropovru n xparxopovnlt) flapu u naphqHr,l eKBHBaneHTh Hero Aonr BrynHarnaBHhHa Hero norasaren Hia3a4onxeHocr 161,12t3 (13,72V1 _ 147,31'6 (02,7er8) (1.43) 2011 182,449 9,178) 178,271 (91,216) (1.e5) Kareropur na SnniancucKr4 14HETpyMeHTu Bo mnjagluAeHapr 31 gexeuepu 31 4exenaepu 20112 (DrnaHcucxrcpeAcrBa l-lo6apyearua oA KynyBaLru llapu n naphgH14 eKErhBafleHTh 2011 82,028 13,7217 95,7i'5 Ouxaxcyrcxu o6erpcxu O6apcrnno.qonropoqHn KpeAul4 06apcrr roHpo6aaryeavur 161,1213 422,969 _ 182,449 337,245 ___191,0€4_ :__9l_9,69{ L[enuna ynpaByrra]beoo ShHatHcxcKnre pr314qt4 OuHancrcxurepu3yrqt4 ro BKnyrtyBaar na3apHilorpnsnx (eanyreHph3t4K prasr,rr), 14KaMal'eH KpeAureH pl,1sl4K 14pl13t4K pn3hl[4CeCneAarHaErpeMeHcKa HannKBIA,HOCT, QhHaHCytCKuTe ocHr]Ba r ce nl6eruyeaar npBeHCTBeHO npeKyHaManyBaE'eTO Ha n3nOXeHOCra Ha ,[pyt.ureOrOHa OBuepu3l4t-I4. ,!pyr-ureoroue Kopt4crx noceoHn SuniaHcrcru rHcrpyMeHrh 3a Aa rh HaManH oBue pt13l,lLlu,Eingejil:M TaKBure r4HcrpyMeHTr Hece npytMeHyBaar Bo Peny6nrraMaxe4r:nra.;a. 28 OPYKTANMAKAFI-CKONJE KOHO]4HAHCI4CKI4TEI43BEIUTA]4 EETIEIUKl4 31 gexeMepr2012 23. 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Hauanyearuesa 10% Ha nE Bo rnjagu AeHaph 2012 2011 3ary6a3a roArHara ____l1g,e!l) ______@2w) 3roneuyearuesa 101/o Ha nE Bo rnjaglr AeHapx 2012 2011 42,297 ceHst,trheHocraHa ,Qpy'r.urBoro Ha crpaHcKa Banrra e 3Haqure,nHonpoMeHera eo cnope46aco npeTxoAHara roAnHa. 29 OPYKTAIIMAKA'q-CKONJE KOH Ol4HAHC]4CKhTEI43BEIIITA]4 EETIEIIJKl4 31 4exeuepr 2012 23 (npo4onxenne) 14HCTPIyMEHTH O14HAHCl4CKt4 Ynpaeyaarueco KaMarHxorpltsl4K KaMarHacranKa. ,[pyureoro e nsnoxeHo Ha KaMarHkrorpLi3l4KnpeKy KpeArrnre co npoMeHnvrBa llapuvHnre cpeAcrBa ao 6aHKace KaMaroHocHo QuHaHcncKocpeAcrBo,Ho 3apagh HesHaqrrenHvrre cpeAcreo.flpyureoro KaMarHhcranKhKoytrh Hoct4oBa cpeAcrBo,r4cToroce cMeTa3a HeKaMaroHocHo cranKh Ha na3apoT 14 npeKy cneAelbe Ha ABrxelbeTo Ha KaMarHr4re ce cnpaByBaco ot3oj p1431,1K 6anxr. co KoMepqrjanxure o6noayearue HaAoroBopr4re cpeAcrBar o6eporu Ha rpajor Ha roAuHarae KaKouJro Bpe,qHocr na SnHaxcncKHTe CnaerxoeogcrBeHara cnerqu: Bo nnjagu AeHapll 31 gexeuepn 31 gexeuepr 2012 2011 82,028 13,747 70,554 4,178 95,775 74,732 (Dunancncxno6epcxn Hexauamouocgu: O6apcrn ron 4o6ae'yaavu 422,969 337,245 flpoueunuea KaMamHacmanKa: O6apcrn no KpeAiln4(4onropovru n xparxopovxu) 161,123 182,449 584,092 519,694 (DuxancncxncpeAoTBa Hexauamonocnu: flo6apyeaua oA K'fnyBaqu flapn u napxqHueKBuBaneHTu Auanusa Ha ceHsumtateHocma Ha KaMamHucmanKu AHanrsaraHa ceH3ulThBHocra e ogpeAeHaBp3ocHoBaHa r3noxeHocraHa,flpyLureoro Ha npoMeHaHa KaMarHurecranKula SuHaHcncKrre[HcrpyMeHTrHaAeHor Ha usaeurrajorea $nHaHcucxaracocroj6a. 3a QuHaHcncKure[HcrpyMeH]-r4co aapujainnHn KaMarHhcranKu, aHanu3ara e n3rorBeHa nog npernocraBKaAeKau3Hocr4reHa Kpa;orHa roAuHara6une HenpoueHerhBo reKor Ha qenara roAHHa. flpu usroreyeabero Ha aHan[3ara Ha ceH3rrhBHocraHa npoMeHrreHa KaMarHurecranKil,Kopt4creHo e 3roneMyBabe unr HaManyBarbeHa KaMarHurecranKt4ga 2 nprcqeHTHu noeHh, [!To npercraByBa pa3yMHanpoqeHana Paroao,qcrBoro3a MoxHnrenpoMeHhHa KaMalHt4Te cranKr. oAHocHonoHucKr4, sia2 npoqenrHunoeHt4,a cure Apyru ,QoxonryKaMarHnrecranKr 6u 6nne noBlrcoKr4, eapuja6nuHenpoMeHeril, sary6ara na fipyurreoro 3a foA[Hara uro 3aBpruyBa Ha 31 gexeuapn 2012 6vt 6rna noercoKa,o,qHocHo noHhcKa sa 3,222 nnjaguAeHapr(2011:3i,649uryagu4eHapra). Ocernueocra ua ,Qpyuraoro Ha pil3r4KoroA npoMeHaHa KaMarHuree He3Haq[]'enHonpoMeHerasa ro4rHara xoja 3aBpuryBa na 31 4el:eruepu2012 roAhHaKaKope3ynrar HanocrojanoroHr4Bo Ha nosajrunqn. pl43l4K Ynpaayaarueco KpeAtalHtaor Kpe4urHror pu3nKcieo.qHecyBa Hapu3'tKorKoraApyrara crpaHaHeiraAa ril ncnoflHt4 cBor4reAoroBopHyl o6epcrn, uro t(e pesynr4pa co Sunaxcucxn oary6u sa fipyr.ureoro.flo6apyeabara o,q KynyBaquHa co Konarepan. ,[pyu:raoro He ce o6es6r]AeHta 30 OPYKTAI|MAKAA- CKONJE Kl,lTE143BElIlTA14 EEnEUJKyIKOH OYIHAHC14C 31 gereruepr 2012 23. (npo4onxerre) 14HCTPyMEHTl4 O14HAHC14CK14 pl,r3r4K Ynpaeyaare co KpeAxrHl4or Ha31 4exenirepu 2012roAnHa urrocneAr: oAKynyBaqhre e KaKo Crpyxryparaxa no6iapyealbara Epyro r3noxeHocr He4ocneanu no6apyaaua HoHeouurerenu no6apyearua ,Qocneanu, u ourereHhno6apyaaua ,Qocneaun Bo nnjagu AeHapH hcnpaera na Hero BpeAHOCra lr3floxeHocT 68,196 13,832 33,282 (33,282) 11 5 , 3 1 0 (33,282) 68,196 13,832 82,028 Crpyxrypara na no6iapyaabaraoA KynyBaqhreHa31 gexeuapu 2011 roguna e KaKoulro cneAu: Spyro l,t3noxeHocT He4ocneaHu no6apyeaua HoHeouJTerexn no6apyeaua ,QocneaHr, ,{ocneannn ourrereHhno6apyeaua 48,506 20,837 32,841 Bo rnjagn AeHapyl hcnpaexa na Hero BpeAHOGT t43noxeHocT (31,630) 48,506 20,837 1,211 (31,630) _ 70,554 Hedocneanuno6apy66ysg He4ocneanure no6iapyeaua Bo [3Hoc oA 68,196 nnjapu rqeHapu(2011: 48,508 nnjizpu4exapu) ao qenocr ce oAHecyBaarna no6apyBaba no ocHoBra npo4ax6urBo reKor Ha Meceq gexerr/|epr,| 2012 roAhHa.oeraeno6apryBaH'a AocracyBaar3a Hannara15 4exa no AaryMor na Qarrypupabero. Eocn eauu, Ho Heowmemeuu nodapyearua CrapocHaracrpyKrypaHaAocneaHhre,HoHeouJTereHure no6apyaar+a3a ro4nHrre luro 3aBpuJyBaar Ha 31 4eremepu2012ut2011 e KaKouJrocfleAil; Bo nnjagn AeHapll 31 4exeuepu 31 gexennepra 2012 go 30 4eHa oa 3'l Ao 60 4ena o4 61 go 90 AeHa og 91 ,qo365 4ena HaA365 Aena 9,328 2,634 1,030 840 2011 11, 1 5 0 8,574 377 736 20.837 31 oPyKTM MAI(AR- CKOnJE l,l3BElllTAh EEnEUKl4KOHOt4HAHClhCKl4TEi 31 Aereuepu2012 23. (npoaonxenne) O14HAHCl4CKtl 14H CTPyMErHTl,l IuxangxoceH px3t[K KpajHaraogroBopHocr3a ynpaByBabeco pl43r4Kor Ha rnKBhAHocre Ha paKoBoAcrBoro Ha,Qpyr.urBoro 14 Ha paKoBoAcTBoTo Ha KpalHoToMarnqHo ApyuJTBoKor4 hMaaT h3rpaAeHocooABerHa paMKa 3a ynpaByBaFbe co oec,jpr3uK,npeKyroja ynpaeyaaarco KparKopor{Hr4re 14cpeAHopoqHure cpeAcrBaKaKox co 6apauara 3a ynpaByBabeco flr4KBr4AHocra. npeKy flpyr.urBoroynpaByBaco pli3r4KorHa nhKBt4EHocr o6es6e4yeaueHaAoBonHaKonuquHaHa pe3epBhHa napu Aa tu vcnnaru o6epcrure KoHrper[ crpaHn. 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Oeue QuHarc1acK],1 l43Beutan6eao4o6pexra 3a h3AaBa]be o4 Ynpaexror oA6op na 10 Oeapyapu2012 O4o6pexo og: 3opan fyprar( l-eHepanex ,QnPexroP il 2011 Ocrasaru I rl 1 (Bo unjagr genapu) hnuja Bu4oeecxn ,Qrapexrop ta OnHaHcltl,t rl APYKTA'I MAK A.q- CKONJE i"l t I I I I I I ]43BEIUTAJ 3A @I4 HAHC]4C KATA COCTOJ 5A FoAnxa uro 3aBpulyaa Ha 31 Aereuepr 2011 (Bo unjaglt genapu) HeAehxxocru, nocrpojxtt t4 onpeMa Bnoxyaaue ao $uHaxcrcKu cpeAcrBa pacnonoxnnBh 3a npogax6a 3anrxut flo6apyearua oA KynyBaqn n ocraHaru no6apyearua llo6apyealba ga noaette ntlareH AaHoK Ha Ao6urexa [1apu r napnqHh eKBrBaneHTu il I il 269,052 291 ,018 14 15 86,262 82,240 69,8s3 124,126 16 4,178 177.878 217,680 446,930 ______qqq,69q_ 289,995 35,313 (416,524) 289,995 35,999 (373,756) (91,216) (47,762) 18 138,628 165,619 12 19 3,924 1,152 3,924 1 5,1 Brynxn cpeAcrBa ,013 98 23.721 TNABHl,IHA 1,I OSBPCKH l-naeHuHa OcHoeHa rnaBHIHa Pesepan AryruynupaHa zary6a I t t t I 290,005 13 TeroeHn cpeAcrBa O6epcxu no Aonropot{Hl4 KPeAnru O6epcxra 3a oAnoxeH AaHoK Ha,qo6uexa Pesepanparua 3a neH3tl l,t u iy6uneiau HarpaA!1 r-J 269,052 HerexoeHta cpeAcrBa O6epcxtt il 20'|.0 CPEACTBA ,1 rJ 2011 6eneurxvt 17 Hereroanr o6epcrn Texosnu o6epcxn 1,096 170,639 143,704 332,1 31 5,111 351,048 O6epcxn xon 4o6aeyeaqta ]4 ocraHarr o6epcxl't O6epcxn 3a AaHoK xa 4o6raxa O6apcxu no KparKopoeHtt xpe4lrru TexoeHa AocneaHocr Ha Aonropot{Hl4 KpeAurtl 20 18 41,840 Peaepeupaua 21 1,554 394,442 5,535 40,237 2,807 385,821 446,930 508,698 Brynno rnaBHltHa u o6aPcxu Eeneulxure xou QuHancncKure h3BeuJTah npercraByBaar hHTerpaneH Aen Ha oaue QrHancucKvl l43Be[!rau - fr OPYKTAII MAK AA. CKONJE ;.t I r, ]43BEIIITAJ 3A NPOMEH14 BO FNABHI4HATA l-oAnxa uro 3aBpuJyea Ha 31 gexeuapn 2011 (Bo hnjasr genapu) Hero go6rera oA l-l tl Ha 1 janyapr 2010 fl Ha 31 gexerr,tepu 2010 il il rl rl rl rl il il rl fl il rl rJ Peeanopll- cKl,l 3aq}loHa pe3epBa 3a cpeAcraa pacnono- rl rl $nxaxcu- HeABX)l(HO. Axyuy- OcHoexa Xl,lBl4 3a nocrpojxn n nHpaHa rnaBH14Ha npoAax6a onpeMa 289,995 ___?99p9s- ______qqq_ Ha 31 aexevrepu2oll 35,313 289.995 - 59 35,444 35,313 (83,265) (83,265) __i929,754 (47,762\ (686) Ocrauara ceon$arna sary6a Hero sary6a 3a roprHara Brynro (290,491) 555 131 OcraHara ceon$arHa 4o6r,raxa Hero sary6a 3a roA[Hara gary6a 35,313 Seneutxnle roH QnHaHcncKrre u3Beulran npercraByBaar uHTerpaneH Aen Ha oane SrHaHcrcKkl l43Beluravt (42,768) (42,768) (416,524) (91,216) (686) t-. I lt OPYKTAT MAK AA- CKONJE i F ) I I [-r ]43BEIIITAJ 3A NAPhqHUTE TEKOB]4 l-oArna urro 3aBpuJyBa Ha 31 AeKeMBpr 2011 (Bo rnjagr AeHaph) Seneuru l-, LJ 2011 llapurnu reKoBh oA onepartaBHh aKTuBHocrh 3ary6a npeA oAaHoqyBabe 2010 (41,655) (76,181) 24,420 (720) 29,876 Kopernpaxa oa: Auopruaaquja hcnpaexa Ha BpeAHocra Ha no6apyBabara, Hero 14,905 l4cnpaexa Ha BpeAHocra Ha HeABuxHocn4re, nocrpojKure u onpeMaTa PacxoAn 3a +ilHaHctapa]be, Hero Heraruanr/(no3rlr4BHu) KypcHx pa3nIKu, Hero O4o6peHn nonycrr4 Ha KynyBaqn l.: : L 8,334 (46) 14,701 (4,110) (566) O4o6pexu nonycn4 oA Ao6aByBaqhre Bnu.rox Ha 3afluxt4 Ornnc Ha o6BpcKr4 Pesepaupaua 3a neH3h14 Peseperparua sa jy6nnejHt^ HarpaNA Kycox xa 3an xn Ornrc 56 Ha 3annxvt Pesepeaquu 3a cyAcKr4 cnopoBr4 KanuranHu 3ary6h o.q npoAax6a Ha onpeMa 34,414 6,027 2,316 16,033 (12,565) (566) (23e) 24 68; 78 517 345 2,073 2,294 372 381 Oneparuena Ao6nBKa npeA npoMenr eo o6prxror Kanhran 4,122 17,084 Hauanyaarue Ha 3antaxure 3roneuyaarue xa no6apyaarbara oA KynyBaqrre u ocraHarrre no6apyaaua Hauanyearue Ha pe3epBaqtah Hauanyaarue Ha rproBcKr4Te u ocraHarure o6epcru Ilapr vnu reKoBh reHeplrpa Hlr oA oneparh BH h a KTlr BHocrr,l (16,876) 835 flnareH AaHoK Ha Ao6uBKa (11,422) (6,442) (1 00) (6,245) 12,153 26,878 (3,856) 1,013 28 (7,535) llnaresn KaMaru 27,940 (1,794) (3,547) 18,378 30,017 17,098 33,2?3 Hero napuvnx rexoBu reHepxpaHlr oA oneparxBHx aKTIIBHOCTI'I lla p r s n n reKoBl.r oA 14 H Becrh qroH lr a KTlr BHocrl,l Ha6aexa Ha HereKoBHr4 cpeAcrBa llpnnuan o4 npo4ax6a Ha xaprilr4 oA BpeAHocr flpunra oA KaMarh flpunre oA Ar4Br4AeHAh Hero naprvnn reKoBlr r.rcKophcreHlt Bo rrHBecrtaql4oH]r 61 (2,754) AKT}IBHOCTh flapnrxlr reKoBh oA SrHaHcrcKlr 166 52 (7,317\ aKTnBHocrl4 flpunueu oA KpeAhl4, Hero Hero napurx[ reKoB]r reHeplpaHn og $rnancrcxr AKT}IBHOCTI4 Hero groneuyaarue/(xauanyaaue) Ha naph r (28,942) 15 (28,942) 15 (19,543) 19,576 23,721 4,145 nap[qHu EKBl,lBANEHTN Ilapr u naptaqHu eKBhBafleHTu Ha noqeroKor oA roArrHara 16 llapn u naptlqHn eKB]4BaneHrx Ha Kpajor oA roAxHara 16 Seneurrure xoH $uHaHcucKure u3BeuJTan npercraByBaar rHrerpaneH Aen Ha oane $nnaucrcKh 4,178 r43BeurTau 23,721 OPYKTAII MAK A'tl- CKONJE SENEU K14 KOH O14 HAHCt4CK]4TE ],I3BEIIITAH 31 gereuepn 2011 1. OnUTn hHOOPMAqt4l4 Qpyrran Max A[-Cxonje (ao noHararvroulHt4or rercr "flpyureoro") e aKLll4oHepCKO ApylllrBo perucrphpaHo Peny6nnra Maxe4oxuja, co ceAxuJre eo c' Mopane, Cry4eHuvann, Cxonje. Bo Muosr,rHcxr,r aKLlt4oHep Ha ,Qpyulraoro e Opyxran A.A Aj,qoeul,{uHa oA Peny6nr,rxa CnoeeHuja roja uua 89,4% concrBeHocr Ha ,Qpyureoro. KpajHo MaThqHo ApytlJrBo e Herrap Aoo, ApyllJrBo perrcrpl4paHo Bo Peny6nuxa Cp6nja. lpyureoro e npor3BoAcrBo h npo4ax6a Ha oBouJeH Uyc, Hexrap, 6e6eura xpaHa h 6eganroxonHra nujanoqu oA 6penAor ua Opyxran. llorpaj ocHoBHara gejnocr, ,[pyureoro o.qrneAyBa u OcHoeHa 4ejHocr na o6pa6oryea ceexo oaouje. Ha 31 Aexervrepu 2011 ro4rana,Qpyuraoro nua 61 apa6oreHur (2010: 66 epa6oreHu). 2. OCHOB]4 3A nOATOTOBKA HA OI4HAHC]4CK]4TE [43BE]UTAH 2.1. Ocxoea 3a noArorByBalbe Ha $rxancucxnre ll3Beuravl Bo cornacxocr co o4peg6t4re Ha 3axosor 3a rproBcKl,! ApyurBa ("Cnyx6eH BecHnK xa PM" 6p.28104, 84t05,71tO6,25t07,87t08, 17t09,23109,42110,48110,8111,21111,24111) npaeHure nr'lqa Bo peny6nuxa Maxe4oxrja nuaar o6apcKa Aa BoAar cMerKoBoAcrBo 1,1 Aa noArorByBaar QnHaHcncrr tl3Beulrau Bo cornacHocr co ycBoexrre uerynapoAHl4 craHAapAh 3a $nHaHcucxo l43BecryBabe o6jaeeHn ao Cnyx6ex BecHuK na Peny6nrxa MareAonuja' e noa l-lpaaunH[x 3a BoAerbe cMerKoBoAcTao ("Cnyx6ex eo xoj ce o6jaaexn MeryHapogHu _cMerKoBoAcrBeHll sa $uxaucucKo ],l3Becryeaue (MCoh), saeAHo co craHAapAn Meryxapo4Hra craHAapAu (MCC), 'flocrojxraor (nKD tl ronKyBabara Ha Kouureror ga ronKyBalbe 3a KoMnrer ron1yBabara xa Ha Zg AeKeMBpt4 2009 roAnna, AoHeceH BecH,K Ha pM" 159/09, 164t10 n 107111) oA ronKyBarbe Ha uerynapogHoro QnHaHchcKo h3BecryBabe (1flMO14)' yrBpAeHn h r3AaAeHu jaHyapr roAnna' 2009 co 1 (OMCC) 3aKnyqHo craHAapAtt Oa6opor aa vreryHa[oAHt4 cMerKoBoAcrBeHu Oeoj npaevrnH[K ce nphMeHyBa oA 1 jaHyapu 2010 roAnxa' npeBeAeHn Ll Meryroa, Ao AaryMoT Ha cocTaByBarbe Ha npr4ApyxJlure QuraHcucxu l43Beura1,1 He ce KTM<Dk1 xor cranrne Ha na n ronKyBalbara MCC/MCOI4 Ha u ,s"e"ra Cure AononHyBarra o6jaaeHr,r crna 3a roAnuHnre neplroAr,r Kor4 3anoqHyBaar Ha 1 jaHyapr,r 2009 roAr,rHa. llpuroa npuApyxHrre Bo cornacHocr co 6nnascxure ruelru o6jaaeHn ao SuHaHcrcrlr [3Beulrarl Ha,Qpyuraoro ce npllKaxaHn Ha Peny6nrra lpaennHuxor sa eopurara 14 coApxrHara Ha roAtrttrHara cMerKa ("Cnyx6eH BecHklK oHhe oA guHancncKlr orcranyBa 4eSrnnpauut r43Beurran Ha vrj cer MaregoHrja,' ai. sitil w 174111), orcranyBa eo NICC 1'- llpeseHrnpabe Ha QrHaHcncxrre u3Beulrah u npuroa Bo noeAhHeqHil AenoBh craHAapA' HaBeAeHnor co npeABuAeHh no3hqt4t4 6nnaHcuil oA Haqt4Hor Ha npeaeHTaqraja na oppe4eHu no3l'1ul414 co qen noeAuHeqHnre Ha pexnacusuxaLlvll4. o,qpeAeHu ce flopa4ra roa h3BpUJeHn oaoj craHAapA. o6jaaeHnre nphKaxyBa1be Ha ernaHculcKure u3Be[!Ta['Bo $opuaror xoj ce 6apa o4 a xou c6 yuTe He ce nephoA, TeKoBHl'lOT Bo Ha crna cTaneHu Kon ce cTaHAapAu 14 TonKyBalba Ko]l c6 yure He ce Bo 14 ronKyBaFba o$raqtajanHo npeBeAeHn t4 ycBoeHr, raxo r o6jaeeH[re craHAapAu 2'3' u 2'2 npr,rurexa ce o6enoAeHerr Bo 6eneulxure sxavajxu e$errvt Bo epcxa co norope HaBeAeHoro, a uuajku ru Bo BuA nor_etqujanHrre uareprjanHo ror u MCOh/MCC, Maxe4oxrja Peny6nuxa Ha nponhc}t te oA pa3nnKrre nouery cMerKoBoAcr"e"t Ha l43BeuJrau ,Qpyuraoro, Moxar Aa t4Maar annjaxne Ha peanHocra u o6jerrueHocra Ha Qnnancucxure l43Beuirau h3rorBeHL1 nph,qpyxeHure $unaHcurcrr4 il3Beurail He Moxar Aa ce cMeraar sa $nuancucKl4 Bo cornacHocr co MCQh t't MCC. (DuHaxcncxurte t43BeuJTa[ ce cocraBeHr Bo cornacHocr co npuHqunor ua na6agHa BpeAHocr, ocBeH aKo Bo HaTaMoulHl4or TeKCT' He e nohHaKy HaBeAeHO BO CMeTKOBOACTBeHilTe nont4TuKl4 KOn Ce AaAeHh Bo cocraeyaaH,eTo Ha oBt4e $rHaHCrcxur l43BeUJTaU ,Qpyureoro ru npnMeHyBa CMeTKOBOACTBeHUTe nonuTllKl,l HaBeAeHh eo 6eneulxara 3. BO npuApyxHrre 6eneulrn l4gHocure CoApxaHu ao $uHaxcrcKllTe u3Beurau Ha ,QpyurBoTo, KaKo u ocBeH aKo He e nol4HaKy MaKeAOHCKH rnjaAra eo AeHapr' npnKaxaHh xoH srHaxcncKnre h3BeuTan ce MaxeAonuia' eo Peny6nnxa h3BecryBarue Ha Banyra o$raqrajanna npercraByBa HaBeAeHo. Aer,ipor H H H H i ? OPYKTAN MAK AA. CKONJE EETI E IIJ K14 KOH O14 HAHC 31 gexeuepr 2011 2. 2.2. O6jaaenra craHAapAu l{ ronKyBarba Kor4 ce Bo cv$la Bo reKoBHl.tor nep[oA a o$uqrjanno ron c6 yulre He ce npeBeAeHH lt ycBoeHvt Ha Aegor Ha h3AaBalbero Ha oBue $nxancrcrr u3Beulrah, noAony HaBeAeHure craHAap,q[ u u3MeH]4 Ha craHAapA[ 6ea usAaAeH]4 oA crpaHa na O46opor ea ueryxapo4Hl4 cMerKoBoAcrBeHn craHAapAh, 14 ronKyBarba o6jaaexra oA crpaHa xa Kourcujara 3a ronxyBalb_a 3a MeryHapoAHo $nnaxcucxo h3BecryBarbe, Ho ltcrt4re xe ce o$urr.lnjanxo ycBoeHu ao Peny6nuxa Maxe4oHuja sa roprulHure nephoAt4 Ha r3BecryBatbe Kota 3anoqHyBaar Ha 1 jaxyapu 2010 ro4uHa. . klgtrexu Ha MCQI4 7 "<DuHaHcrcKut xHcrpyMeHru: O6enoAeHyBaba" - l4snaeHu co xo14 ce no4o6pyaaar o6eno4eHyaalbara Ha o6jerruanara BpeAHocr 14 pt43t4Kor Ha nnKBt4AHocr (peer4r,rpaH eo ruapr 2009, npnMeHnuB 3a roAnuHll nep[oAr1 Ha u3BecryBabe Ko]1 3anoqHyBaar Ha unn no 1 jaHyapr 2009 roArna); . 1 "llparvHo ycaojyaaue Ha MeryHapoAHl4re craHAapAh 3a $nHaHcucxo ,QononHnrenHn ucKflyqoqr4 sa eHrnreru Kox npB nar ru npnMeHyBaar MCo14. l4spteHl,t Kon ce oAHecyBaar Ha cpeAcrBara Bo taHAycrprajara ea Ha$ra n rac v yrBpAyBabe Aanh AoroBopnre coApxar nu3rHr (peera4npaH ao jynn 2009, nprueHnhB 3a roAruHn nepnoAh Ha r3BecryBalbe Kor 3anoqHyBaar Ha nnu no 1 janyapu 2010 roauHa); j lzl3uexr Ha MCQkI u3BecryBabe" F . - lzlgueru ut AononHyBaba Ha pa3nuqHn craHAapAlt 14 ronKyBalba KaKo pe3ynrar xa llpoerror oa roAuu1Ho KBanural4BHo no4o6pyeabe Ha MCOI4 o6jaeen Ha 16 anpnn 2009 ro4nxa (MCO14 5, - npaeHcrBeHo co HaMepa Aa ce nojacHyaan'e Ha Qopr"rynarlrajara Bo reKcrot (usueHure Ha cTaHAapAnre ce nphMeHnnBt4 3a toAl4urHn nepuo.qx Ha u3BecryBabe Kou 3anor{HyBaaT Ha unr no 1 jaHyapra 2010 roAraHa, AoAeKa h3MeHilTe Ha KTM<Di4 3a roAilulHll nep[oAtl Ha h3BecryBabe Koh 3anoeHyBaar Havlnv no 1 jynn 2009 roausa); MCO]4 g, MCC 1, MCC 7, MCC 17, MCC 36, MCC 39, KTMOI4 16) H orcrpaHar HeycornaceHocrhre I H ,i K]4TE I43 B E IIJTAI4 OCHOB]4 3A nOATOTOBKA HA O]4HAHC]4CK]4TE 143BEIjJTA14 H F 14C u .lzlgueuu Ha MCC 33 "Heuarepujanau cpe,qcrBa" (npuueHnue 3a Kou 3anoqHyBaar Ha . F roAn[rJH],l nephoAl,1 Ha r3BecryBarbe vnn no 1 jynn 2009 ro,qrxa); l4guexn Ha MCOI4 2 "flnaxaue Bp3 ocHoBa Ha aKquu" - lzlsMeHu KaKo pe3yflTar na llpoexror sa roAutlHo KBanrraruBHo nogo6pyearre na MCQ[4 (peau,qrapaH Bo anpnn 2OO9 roAusa, npuMeHnl4B 3a ro.quu1Hl nepuo.q14 Ha u3BecryBa]be Kou 3anot{HyBaar Hannv no 1 jynn 2009 ro,qrua) n uoueuu Kou ce oAHecyBaar Ha rpaHcaKqnu Ha rpynHh roroBr4HcKr.l nnat(aua Bp3 ocHoBa Ha aKlll.1l,l (pean4upaH ao Zb09 toAuHa, npnMeHnhB 3a roAt4urHl4 nepho,qu Ha u3BecryBarbe Kou 3anoqHyBaar Ha unu no 1 janyaPn 2010 roPuHa); jyHra F . l4gveHu xa KTMOlzl 9 "lloeropna npoqeHKa Ha BrpaAeHure AepuBarnera" (npultetlnuB 3a roAhLllH]',| "QrHaxcrcxu nepuoAt4 Ha Lr3BecryBalbe Kor 3anoltHyBaar Ha unu no 1 jynra 2009 ro,qraxa) u MCC 39 neproAh (nprueHnua roAt4luHl4 3a BrpaAeHn Meperbe" 14 ,qephBaTrBr t4HcrpyMeHru: l-lpnsHaearue Ha [3BecryBa]be Kor 3anot{HyBaar Ha vnn no 30 jyHra 2009 ro4rna); r KTMQI4 18 "|-lpeHoc Ha cpeAcrBa oA KynyBaqn" (npuueHnra 3a roAhlllHtl nepuoAl4 Ha n3BecryBabe Kou 3anoqHyBaar Ha rnr no 1 jynr 2009 ro4nxa); F iry iH ii if iF ii rl iH il in :l i? i3 . "CeonQarHa paMKa sa QnxaxcrcKo t43BecryBabe Ha 2010 roAr,rna" uJro npercraByBa l43MeHa Ha "pauxara 3a noAroroBKa u npilKaxyaarbe Ha QraHaHcucrnre tasaeuJran" (npnueHnutea o,q AaryMor Ha o6jaeyeaue, oAHocHo oA cenreM Bp n 201 0 ro4uHa), r AononHyBaH,a Ha MCO[4 1 "llpauvHo yceojyaar-e xa ruerynapo4Hl4re craHAap.qn 3a $uxaxcvtcxo h3BecryBalbe" - OrpaxuveH rcKnyqoK oA cnopeA6eHn o6enoAexyBarba nponuuJaHh Bo paMKxre Ha MCO]4-7 xaj errureru Kou npB nar ro npuMeHyBaar MCOkI (npnuennre 3a roAl4ttlHl,1 neproAh Ha Lr3BecryBabe Kor 3anoqHyB aar Ha l4nh no 1 iynn 2010 ro4nHa); r fiononHyaarba Ha MCC 24 "O6eno4enyeaH,a 3a noBpsaHn crpaHn" - lloeAHocraeeun 6apaua sa o'6eno46"y"aua raj eHrurerh Kot4 ce nog (sHavurenHa) xonrpona vnv anujaxre Ha BnaAara h nojacHyearee ua AeQusurlujara sa noBp3aH[ crpaH]4 (npuuennna 3a roAnulHl4 neproAu Ha u3BecryBarbe Kor 3anoqHyBaar Ha llnn no 1 ianyapu 2011 roAuHa); o fiononHyaarea na MCC 32"QunancucKr4 r4HcrpyMeHru: npe3eHrupabe" - CMerxoeoAcrBo 3a npaBara Ha u3AaBabe Ha HoBl4 axqnn (nprueHnuB 3a roAnuHure nepuo,ql4 Ha [3BecryBabe Ko]l 3anoqHyBaar Ha unu no 1 SeaPYaPu2Ol0 roArHa); il t I I I I I I t t il rl F n OPYKTAII MAK AA. CKONJE 5 EII E III KI4 KO H O 31 4ereuapr n tr h h h h H AH C 14 C K]4TE 143 B E IIITA]4 2. OCHOBI4 3A nOATOTOBKA HA OI4HAHCI4CK]4TE t43BElUTAl4 (npoeonxenre) 2.2. O6jaaexu cTaHAapAr h TonKyBarba KOn ce BO cxna Bo reKoBHl.lor nepnoA a ron c6 yulre He ce o$urlrajanno n peBeAeHu n ycBoeH h (npogonxexue) . lzlsueHu h AonoflHyBarba Ha pa3nurlHr,r craHAapA[ 14 ronKyBaba KaKo pe3ynrar Ha flpoerror sa roAlrglHo reanrral,raHo no4o$pyaarse na MCOI4 o6jaeeH Ha 6 uaj 2010 roArHa (MCO['1 1' MCO14 3' MCO]4 7, MCC 1, MCC 27, MCC 34, KTMOI/ 13) - npaeucrBeHo co HaMepa Aa ce orcrpaHar HeycornaceHocl4re u nojacnyearue Ha $opuynaqujara Bo reKcror (ttsuexure Ha craHAap.qrre ce jynn 2010 ro,quHa npyrMeHnuBu 3a roAugtHr4 neproAlr Ha n3BecryBabe Kolt 3anoqHyBaar Hanntl no l ninn 1 jaayapu 2011 roArHa, Bo 3aBrcHocr oA craHAapAnre/ rxrepnperaqujara); . Ha KTMOIA 14 "MCC 19 ,[ononHyearea '6aparua - OrpaHuvyBabe xa Ae$nnnpaHure np[Marba, MelHl4ManHure HlrBHara uHrepaxqrja" flpennareHn Ml,lHl4ManHr 6apaua 3a $rxaHcuparee 3anovHyBaar Ha unu no 1 $nnaxcrpaue'(npuueHnuB 3a roAuluHyt nephoAl,l Ha h3BecryBalbe KoLl u sa janyapn 2011 ro4uHa); "flogrvrvrpyBabe Ha Quxaxcncxlr O6apCxr co nHcrpyMeHru Ha rnaBHIHara" (npuuennne sa Ha u3BecryBabe Kota 3anoqHyBaar Haunn no l jynu 2010 ro4rHa). nephoAn roAnuHh . 2.3. KTMOI4 lg O6jaeenn cTaHAapAu 14 TonKyBalba xou C6 yuJre He ce Bo cl/|na Bo reKoBHl4or nep]loA Ha Aexor Ha n3AaBabero Ha oBhe QuHaHcncxn r43Beulral,t o6jaaexu ce cneAHhre craHAap'qu, AOnOnHyBalbe I TonKyBarba Kou ce yure He ce Bo npuMeHa: . ,,MCOk1 9 "QnHancncKx l4HcrpyMeHru" (nprueHnhB 3anoeHyBaar Havlnu no 1 jaHyapn 2015); $nHaHCrCxur r,r3Beurrau" (npuueHnna h3BecryBalbe Kox 3anoqHyBaar Ha lrnn no l jaHyapn 2013); . MCOh 11 "3aeAHu,{x]4 apaHXMaHn" (npUuennna 3anoqHyBaar Havnrz' no 1 jaHyapr 2013); . 3a aa unv no 1 Kon roAutriHh nep[oAl4 Ha roAlltlJHl4 nepnoAh Ha u3BecryBalbe Koh MCOkI 12 "o6enoAeHyBarba Ha BnOXyBaFba Bo Apyrh npaBHLl nnqa" (npnueHnuB 3a nepnoAt4 Ha n3BecryBa]be Ko]l 3anoqxyBaar Ha Hl'lBHt4Te 3a roAntuHh nepl4oAl4 Ha u3BecryBaFbe . MCQn 10 "KoHconu$vpaHn roAxuJHl4 jaHyapr 2013); . MCO]4 l3 "Meperse xa o6jerrnaHara ape4nOCt''(npuueHnua 3a roAruHh nepuoAl'l Ha r3BecryBabe Koh 3anoqHyBaar Ha unh no 1 jauyapr 2013); . MCC 27 (peaugnpaH eo 201 1) "floeAnHevHu $uHaHchcKl,l h3BeuJrau" (npruexnuB 3a nept4oAl4 Ha u3BecryBahbe Kor 3anoi{HyBaar Ha . I F 14 2011 unh no 1 roAruJHl4 janyapr 2013); MCC 2g (peeragrapaH ao 201 1) "BnOxyear+,a Bo npuApyxeHu npaBHll nuqa n sae,4H14t{K}l BnoxyBarba" (nprueHn6e 3a ro4hurHr,r nepuoAlr Ha u3BecryBabe Kotl ganoqHyBaar Ha unn no 1 jauyapu 2013); Ha MCO]4 1 "flpervHo yceojyearue Ha naeryHapoAHnTe craHAapAh 3a $uHaHcrcxo Kol4 npB l43BecryBalbe" - Bucoxa xnneprHsnaqnja u orcrpaHyBalbe xa $urcHr AaryMl,l 3a eHrrrerLl Ha naT ro npt4MeHyBaaT MCO]4 (npnureHnne 3a roAllurHl,l nepuoAl4 Ha [3BecryBa]be Ko]l 3anot'lHyBaaT o ,Qononnyaarba rnr . o no 1 iynu 2011), [lpexoc ua Snraucucxn .[ononHyearua na MC<Dlr1 7 "OrHaHcyrcKt4 ]4HcrpyMeHru: O6enoAeHyBa]ba" Ha nnv no 1 jynu 3anoqHyBaar Ko!1 Ha h3secryBabe nepilo,qh cpeAcrea (nprueHnre 3a roAr4urHl4 2011 roAnna); llopaunyaa]be Ha lononHyaalba Ha MCOI4 7 "QnnancncKr4 r,rHcrpyMeHrn: O6eno,qeHyearua" (npraueHnne 3a roAl4llJHl4 nepnoAn Ha r3BecryBalbe o6epcxr n cpeAcrBa $vrHaHcucxn $rHaxcracxu Kon 3anor{HyBaar Ha rnt4 no 1 jaHyapn 2013); r ,flononHyaarba Ha MCOh 9 O6"no,q"ty"arua" - "OyrxaHcrcKu r,rHcrpyMentu" 3a4onxrreneH AaryM Ha eQerruaHocr n 1a 7 "OuxaHcucKl,l l4HcrpyMeHTLl: MCO]4 npeOAHt4 o$enoAeHyeaba: OPYKTAN MAK AA. CKONJE 6 EII E lll K14 KO H O 1,1 H AH C l.l C K14 31 4exeuepn 2011 T E 14 3BE llJTAtl 2. OCHOl,l 3A flOAfOTOBKA HA O]4HAHCI4CK],|TE ]43BEUJTAI4 (nposonxenrae) 2.3. O6jaaexu craHAapgx x ronKyBalba Kon c6 yurre He ce Bo cnna BoreKoBHvror nephoA (npogonxenne) r r[ononnyaaua Ha MCC 1 "llpeaeHraqnla aa SnuaHc[cKr4 r43Beurran" -flpesexraquja ua craaxu o4 Ocraxara ceonQarHa,qo6rera (npnueuna 3a roAuuJHu nepuoAr4 Ha n3BecryBalbe Kou 3anoqHyBaar Havnnno1jynn2012), Ha MCC 12 "ffanotqu Ha AoOnBKa" - OAnoxes AaHoK: noBpar Ha cpeAcrBara Koh ce Haoiaar Bo ocHoBara (npuueunue 3a roAuurHr4 nep[oAt4 Ha u3BecryBalbe Kon 3anoqHyBaar Ha hnh no 1 jaayapn2012), .,[ononxyaaua r l4gueHr Ha MCC 19 "Kopracrra sa epa6orerrre" - llogo6pyBalba Ha cMerKoBoAcrBoro 3a Kopl4cr[ no xa pa6orHuor oAHoc (npnnaexnra 3a roAulrHr4 nephoAlr Ha u3BecryBalbe Kon 3anoqHyBaar Havnu no 1 jaxyapu 2013), npecraHyBabe o,QononHyeaba Ha MCC 32 "OuHascucru [HcrpyMeHru: npe3eHr[pa]be" - ilopauHyearue Ha Quuaucucxr cpeAcrBa n $uxaHcucrr o6apcru (npnuexnue 3a roAxurHl,rre nepuoAl4 Ha n3BecryBabe Koh 3anoqHyBaar Ha unr no 1 janyapn2014 rognaa); o KTMO],1 20 "Tpouoqr4 3a orKpt4Bxa eo Qasara Ha npoLt3BoAcrBo Ha noBplrl4HcKl4 pyAHl4t{]4" 1 jaHyapu 201 3). (npnuexnue 3a roAnuJHu nephoAu Ha h3BecryBabe Kon 3anoqHyBaar Ha t nn no 2.4 flprnqun Ha KoHTvtHyxrer Ilodpwxa od Mamuquomo dpywmeo MarhqHoro ApyulrBo ce o6apsa Bp3 ocHoBa Ha HeroBoro nhcMo Aa AaAe noApuJxa Ha ,QpyulrBoro Bo QnHarcnpauero Ha HeroB[Te o6apcxu AoKonKy ,[pytureoro HeMa AoBonHu n3Bopt4 Aa ro cropt4 roa. Oere QunaxcucKut t43Beurau ce noArorBeHn Bp3 ocHoBa Ha npernocraBKara gexa flpyureoro ke npoAonxu ga QynxqnoHupa cnopeA npuHqunor Ha KoHTt4Hyr4Ter Ha 31 4exeuapu 2011 ro4uaa n na .qaryMor Ha u3AaBarbe Ha oBue Qnxancucru u3Beurrau, seuajku ro Bo npeABlA npoAonxyBalbero Ha $n HaHcncxara noApuJKa oA Marn.{ xoro ApyuJTBo. l-Inauoeu ua paxoeodcmeomo sa naduuuyeabe Ha prcuKom na QyuxtluoHupabe no npuH\unom Ha KOHmUHyUmem ParoeoAcrsoro ua ,QpyrurBoro npernocraByBa AeKa 3roneMyBabeTo Ha npon3Bo.AcTBoro, noBonHrre ycnoBu ea 6esanxoxonHn nrjanoqh u na3apor sa cupyn, KaKo u nocrojaxoro HaManyBalbe Ha oneparuBHt4re rpoluotlt4, ke rua no3rn4BHo enrajaHue Bp3 AenoBHoro pa6orerue Ha lpyturBoro Bo noAoqHexHxre nepuoAx. Co orne4 Ha aKquoHl4or nnaH I ropecnoMeHar[Te oqeKyBaba, paKoBoAcrBoro npernocraByga AeKa roa ke reHepupa AoBoflHo naphqHh npttn!181,1 3a noAMtlpyBalbe Ha reKoBHhre o6epcrr n sa cexoj4xeBHhre AenoBHh aKThBHocru na,Qpytureoro. 10 oPyKTAn MAK A.tl- CKOnJE EENEUKI4 KOH O14 HAHCl4CK]4TE ]43BE]IITAH 31 Aexenapr 2011 PETfl EA HA 3HAqAJ 3. N 3.1 flpnsnaaarue Ha nPrxoAlt H 14 C M ETKOBOACTBEH 14 NOfl TTH K14 ce Mepar cnope.q o6jerrneHara BpeAHocr Ha HaAoMecroror xoj tlro e nptrMeH ]4nn ce no6apyaa. flprxo4or o4 npo4ax6a Ha npot43BoA1,1 14 croKtl ce npn3HaBa rora re 6uAar ucnonHern c'lre l1pr,rxo4ure oA cneAHilTe ycnoBh: pu3l,ltlvl ,Qpyuraoro My rx npeHeno Ha KynyBaqor aHavajHure 14 HarpaAh oA concrBeHocra HaA npon3BoAl4Te; uHBonBhpaHocT Ao creneHoT KOJ ,Qpyu.rraoro He 3aApxyBa Ht4ry KOHrt4HyHpaHa MeHauepcKa KoHTpona HaA npoAa.qeHhre nar eQerruaHa Hrry concrBeHocra, aoo6u.{aexo ce noBp3yBa co a a 3.2 npolr3BoA14; lzlgHocor Ha npuxoAor Moxe BepoAocro;Ho Aa ce [3Mepu; BepojarHo e .qeKa eKoHoMcKure Kophcrr.l noBp3aHH co rpaHcaKqrjara *e npercraByBaar npr4nl4B ea,Qpyureoro; r Tpor.uoqrre Koet ce HanpaBeHr nnu rpe6a Aa 6nAar HanpaBeHer Bo BpcKa co rpaHcarqujara Moxar aepo.qocrojHo,qa ce l43Mepar. Tpououu 3a KaMaryl Tpor.uoqure 3a KaMar4 ce npn3HaBaar KaKo rpolloK Bo nephoAor eo xoj ulro HacraHyBaar. 3.3 henocu xcKaxaHlt Bo crpaHcKa Banyra TpaHCaxqrure AeHoMl4Hl,lpaHu Bo CTpaHcKll Banyru ce uqKaxyBaar Bo AeHapn co nprMeHa o$rqnjannnre KypceBll Ha Hapo4Ha 6auxa xa Peny6nnxa Maxepouuja Kou Baxar Ha AeHor Ha Ha rpaucaxqujara. cpe4craara u o6apcxure AeHoMt4HilpaHu Bo crpaHcKu Banyru ce [cKaxyBaar Bo AeHapr Ha AeHor geH. raieeurajor aa euHaxcurcrara cocroj6a co nphMeHa Ha oQuqr,rjanHl4Te KypceBh Kou Baxar na roj Ha Kypc' ce llogunaeHLrre n HeraT[BHl,tre KypcHl4 pa3nuK[, KOn npo]43neryBaaT oA pa3nuKnTe Bo AeB[3H]rOr HacraHyBaar. Kora Bo nephoAor cocroj6a eBrAeHrhpaar Bo l43Beulrajor oa QraHaHcrcKara 3.4 Aanoqn TexoeeH AaHoK na 4o6nexa Ha 3axoHol 3a ,qaHoK Ha .qo6uaxa' Aaxoror xa Ao6raxa ce npecMeryea r nnaka cornacHo oApe,q6nre OpraHu' flnat(aUerO Ha MeCeqHlOT AaHOK ce Bpgll4 aKOHTaTUBHO yTBpAeHO O,4 CTpaHa Ha AaHOqHuTe ycnex' Ha og firnaHcor yrBpAeHaTa Ha Ao6uBxa Kpajxuor AaHoK no CranKa OA 10o/o ce npecMeryBa KOpurhpaHa 3a oApeAeHh AaHoqHo Henpn3HaeHu pacxoAl4, cornacHo 3aKoHcKnre oApeA6u' roAhHa, Cornacxo lr3MeHulTe Ha ,qaHoKor Ha Ao6hBKa Kou ce np[MeHyBaar Ha SncKanHara 2009 Ha ncnnaTa 3a e HaMeHeTa He UCTaTa oAaHoqyBa He ce AoKOnKy ocTBapeHaTa Ao6hBKa 'qilBuAeHAU HenaprqeH o6nnr, Kou ce oAaHoqyBaar ,qpyru'pacnpeAen6n oA Ao6r4BKara, 6t4no Aa e Bo naphqeH rnh Ha aKyMynrpaHara Bo MoMeHTor Ha HnBHara ucnnara. oeaa rgMeHa HeMa e+eKT Ha pacnpeAen6ara caMo Ha ocrBapeHa 3a nperxoAHara 2008 ro.4uHa ta nopaHg. Cranxara ol 10% ce nprMeHyBa 14 Ao6hBKa TpouJoLlure Kou He ce AaHoLlHo nph3Harh. OAnoxen AaHoK oAnoxexuror AaHoK ce npn3HaBa Ha pa3nrKaTa nouery CMeTKOBOACTBeHaTa BpeAHocT Ha cpeAcTBaTa il H[BHaTa cooABeTHa AaHoqHa ocHoBa ynorpe6eHa npr Ha O6epCxa' npegMeTKara Ha oAaHoYn1aBaTa,4O6t4BKa, n ce eBhAeHrhpa cO nphMeHa Ha MeTOAOT o6"p"*ra" Bo QhHaHcucKl4Te u3Beulrau n pa3nnKl/l ]4 OAnOXeHO o,qnoxexure AaHoqHn o6apcrn ce nph3HaBaar 3a CilTe OAaHOiUUBT4 BpeMeHcKh Bo xoj uro nocro]l pa3n[K]4 Bo o6eM u roa BpeMeHcKt4 AaHoqHo cpeAcrBo ce npu3HaBa 3a cr4re og6urHu oAHoc Ha roja ke u Bo Ha oAaHoi{yBabe npeAMer r(e 6ra.qe xojauro gexa fe nocrol4 Ao6[BKa aepolarHocr MOXe Aa Ce UcKopl4crar BpeMeHcKl4Te pa3nnKh KaKo oA6urHa craBKa' o4noxexnre AaHoi{Hr4 Cpe.qcTBa h o6BpcKl4 ce BpeAHyBaaT cnopeA,qaHoqHhTe cTanKh Kol'l ce oi{eKyBa Aa peanr3hpaH4' a Ce npt4MeHaT Bo nepxgAOr eO xOj O$BpCKuTe Ce u6nnaTeHr nn4 cpeACTBaTa Ce Ha AeHor Ha Baxar Kotltrlro (u sa saxoHra cranKr,r AaHoLlu) nponruJaHnre oA AaHoi{Hl4 npon3neryBaar useeurrajor sa QraHaHcncKara cocroj6a. 11 OPYKTAN MAK AA. CKONJE E EII E lU Kt4 KOH O tl H AHC 31 AexeMeph 2011 14 C K14T pErll EA HA 3HALIAJ E l'1 H 14 C M 3. n 3.4 Aanoqn (npogonxenne) 3BE lltTAt4 ETKOBOACTBEH t4 nOI nTn Kll (n posonxexue) ,Elanox Ha AoAaAeHa BPeAHocr l-lprxo4ure, Tpoutotll4re r cpe.qcTBara ce npil3HaBaar BO tt3HOC HaManeH 3a AaHoKor Ha AoAaAeHa BpeAHocr, ocBeH: He Moxe Aa ce BpaTu oA.qaHot{HrTe Kora AaHoxor npu Ha6aaxa Ha cpeAcTBOTO Unr ycnyraTa BpeAHocr Ha cpeAcrBoro hnh Aen Ha6aeHara oA eo xoj cnyvaj ce npu3HaBa KaKo Aen "n""il, o,q TpoluoKoT; t4 3a no6apyeabaTa r Ha AoAaAeHa O6apcxure Koh ce npnKaxaH[ co BKnyqeH u3Hoc Ha AaHoK BpeAHOCr. oAHocHo ce Aonxu Ha AaHotlHl'1Te Hero r43Hocor Ha AaHoKor Ha AoAaAeHa BpeAHocr roj ce no6apyBa, Ha AaryMOr Ha 6hnaHCOr Ha O6apcrnre o,4HOCxO no6apyealbara, o4 KaKo Aen BnacTu e BKnyqeH cocroj6a. 3.5 He.qe[xHocru, nocrPojxn ]t onPeMa He4auxnocrn HeAahxHocrnre, nocrpojK9lre 1,l onpeM ara ce eB]4AeHTupaar no peBanop[3aqhoHa BpeAHocr xoja uro npfrii""V"" Ha6aBHa epegHocr HaManeHa 3a aKyMynupaHara aMoprnsaqrja [4 nocne'qoBarenHrre aKyMynrpaHn tary6n nopa.q[ oujreryBaFbe' Ha 30 Hoerraapra 2010, Bpe.qHOCra Ha HeABhxHocra t4 onpeMara 6eue npeAMer Ha npoqeHa oA crpaHa Ha He3aBhceH npoqeHhTen. cnopeg cMerKoBoAcrBeHara nonurilKa ra ,flpyureoro, cpeAcrBara peAoBHo tte 6n4ar npeAMer Ha npoLleHa, cerou 3-5 roAl4Hkl. Koe noTeKHyBa OA peBanopraaqnja' ce npl43HaBa Bo Ceroe groneMyBalbe Ha BpeAHocTa Ha cpeAcrBaTa ucroro cpeAcrBo nperxo.qHo e nph3HaeHa ,o""rraio, sa ceon$arna go6naxa, ocBeH BO Cnyvaj xora 3a cnyvaj 3roneMyBarbero Ha BpeAHocra ce xoj ycnex, ao na sary6a oA peBanopu3arJi;'Bo 6hnaHcor 3ary6a'HaManyBabero Ha nplr3HaBa Bo 6r4naHcor Ha ycnex Ao l?:I?li:...T!1t11""'ra "' Bo 6nnaHcoT Ha ycnex 'ts"ocoi ce npu3HaBa peBanoprsaqnjara cMerKoBoAcrBeHara BpelqHOCT KaKO pe3ynrar Ha pe3epBa' a ce oAHecyBa Ha peBanopll3aqnoHaTa Ao r43Hocor oa rol grio'sary6ata'ja na4rurrHyaa pe3epBll noBp3aHlr peBanopu3allroHLrTe peBanopu3aqrja na roa cpeAcTBo. l-lpr oryryearue, nperxoAHa 3a KoHKperHoro "p"A"ri-o'np"A""t rd oryry""*", ce rpinc$eprpaar Bo 3aApxaHa Ao6nBKa. Onpeua Onpeuara ce eBllAeHrllpa no lra6aBHa BpeAHoGT HaManeHa 3a aKyMynnpaHara aMoprnsatyja n aKyMynrpaHnre sary6n nopaAu o6eeape4Hyaaue' qeHa, arnyvyaajrin l4xuqnjanHuoT TpOuloK ce cocTol,t oA Ha6aBHara h qapuHl4' AaHOqn', raKctl 14 crre ocTaHaTuTpoulol.|l4Kol,lAl4peKTHoMoXeAa'cenphnruaTHaHoceH'eHacpeAcTBoToAonoKaqnjatau paKoBoAcrBoro' cnocooHo Ha Har{nH npeAB[.qeH oA crpaHa Ha roja roa ce KanITanh3npa onpeMa' cooABerHara oA "tn"prtr""o cocTaBeH Aen "o"iojOur"'uo Ha6aeeHuor cosreep, rOj uro npercraByBa KaKo Aen oA raa onpeMa' Tpor-uoqure 3a OApxyBabe u nonpaBKlr ce npu3HaBaar BO n3Beulrajor Ha ceonsarHa Ao6hBKa Bo nepl4oAoT BO KOj HacraHane. F n 12 oPyKTAI MAK A,q- CKOnJE FEN EUJ K14 KOH Ol4HAHCl4CK]4TE I43BE1IITA14 31 Aexeuapr 2011 PEfn EA HA 3HAI{AJ t4 3. n 3.5 HeAsvtxHocrn, nocrpojrr H CM r ETKOBOACTBE H 14 nOI nTU K14 (npoAonxenue) onpeMa (npogonxexre) AMoprusaqlrja Auoprrsarlr,rjaTa ce npecMeryBa co a co qen Aa ce anoqupa r onpeMara Bo reKor Ha nphMeHa Ha npaBonHHucKa cranKa, Ha6aeHara hnt4 peBanopltgt4paHara BpeAHocr Ha HeABuxHocrhre, nocrpojxnre HhBHt4or npoqeHer BeK Ha ynorpe6a. flpoqexernor KopuceH BeK u aMoprl43aLlxoHl,lor MeroA ce nperneAyBaar na xpajor xa cexoja roALrHa, co e$errrre Ha ctaTe npoMeHh Bp3 npocneKrr4BHl4 ocHoBl4' FOAr,ruHyr CTanKu 3a aMoprh3aqrja, npuueHeTI Ha HeKOU no3Hat{ajHu Craexn ce CneAHhTe: 2.5o/o l-pa4exHur o6jexrn Mauruxu 10% Kounjyrepn 25% 25% MoropHu Bo3utna OcraHara onpeMa 3.6 20o/o-25o/o Irlcnpaera Ha BpeAHocra Ha cpeAcrBara 3a ceroj nepnoA Ha h3BecryBabe, PaKoBoAcrBoro ja pasrne4yaa cMerKoBoAcrBeHara BpeAHocr Ha uareprajinxnre cpeAcrBa. ,Qoxonxy nocrojar nHAnKaqhu AeKa cpeAcrBara ce ruoxe6n oulrereHh, HaAoMecryBaqKara BpeAHocr Ha cpeAcrBoTo ce npoqeHyBa 3a Aa ce oApeA[ Ll3Hocor Ha sary6ara nopaAh ollreryBarbe. fioronry HaAoMecryBaqKaTa BpeAHocT Ha KoHKperHoro cpe,qcTBo He Moxe Aa 6uAe npoqeHeia, Apyureoro ja npoqeHyBa HaAoMecryBaqKara BpeAHocr Ha eArHxllara xoja reHepupa napu, Ha xojau:ro noeAuHeqHoro cpeAcrBo u npnnafa' unr BpeAHocra ao ynorpe6a, Bo 3aBucHocr Koja e napt,tqHt,t TeKoBtl ce AucKoHTl4paar Ao ja gucxonrHara cranKa npeA oAaHoqyBabe xoja uro Hagorvrecryaar{Kara Bpe,qHocr e na3apHara BpeAHocr nororeMa. 3a npoqeHxa Ha BpeAHocra Bo ynorpe6a n4Hnre HhBHara HaAoMecryBaqKa BpeAHocr, annraqrapajrin HerO cerauJHara BpeAHocr KaKo r,l pt43l,lKor cnequSuveH 3a roa cpeAcrBo. ja ncxaxyaa (nnn e4nHuqara roja reHepupa napu) e noMana ,Qoxonry HaAoMecryBar{Kara BpeAHocr Ha cpeAcrBoro oA HeroBara cMerKoBoAcrBeHa BpeAHocr, roraul cMerKoBoAcrBeHara BpeAHocr Ha cpeAcrBoro (l4nh uAr"r,lara xoja reHeprap'a napra) ce HaManyBa Ha HeroBara HaAoMecryBaqKa BpeAHocr.3ary6a nopaAx ollTeryBarbe Ha cpeAcTBa ce npn3HaBa KaKo TpotlloK BO MOMeHTOT KOra HacTaHyBa. Ha nocneAoBarenHoro Koperhpabe Ha sary6ure oA hcnpaBKara, cMerKoBoAcrBeHara BpeAHocr Ha cpeAcrBoro (unu e4uxuqara roja teHepupa napn) e 3roneMeHa Ao npoqeHerara HaAoMecryBaqKa BpeAHocT 3a Toa cpeAcTBo, Ho He noBlrcoxa oA CMeTKOBOACTBeHaTa BpeAHocr npecMeTaHa noA npeTnocraBKa sary6ara oA ouJreryBaH,e Aa He 6nna npraHaexa' Ha AeH 31 gexeuapr 2011 roAnua, Bp3 ocHoBa Ha npoqeHKa Ha Paxoeo,qcrBoro Ha flpyureoro, He nocrojaT uHAl4Kallllkl 3a ouJTeryBalbe Ha BpeAHocra Ha ocHoBHure cpeAcrBa' 13 OPYKTA.II MAK AA- CKONJE 6EII EIII K14 KOH OI4HAHC14CK[4TE 143BEIUTA14 31 gexeuapr 2011 PErn E[ HA 3HAI{AJ t4 3. n 3.7 Ollxancncrr hHcrpyMeHTlt H C METKOBOACTBEH 14 nOn nTn KU (npo4onxenue} n $uHaxcucxrre o6epcrn ce np!13HaBaar Bo MoMeHTor xora ,Qpyureoro craHyBa crpaHa Bo ,qoroBopHrre o6epcxn no oeoj xHcrpyMeHr. 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Auoprrsaquja u Aenpeqnja\uia x nphMeHerx KaMarH[ cranKvt llpecueryaaruero Ha genpeqrajarlrajara n auoprnsaqnjara, KaKo u AenpequoHtlre n aMoprtlsaquoHure cranKu ce 6asnpaHr Ha eKoHoMcKt4or xr4BoreH BeK Ha uMoror, onpeMara u HeuarepujanHure cpeAcrBa. EAHaul Bo roAuHara, ,Qpyrlraoro ro nperneAyBa Kopl4cHl4or xhBoreH eex 6asrpaH Ha reKoBHl4re npoqeHKil. 4.2 hcnpaaxa Ha BpeAHocra na no6apyearuara Ha ncnpaBKa Ha BpeAHocra Ha cnopHttre no6apyearua ce 3acHoBa Ha npoqeHerrre eary6u Kor noreKHyBaar oA HeMoxHocra Ha xynyBaqhre Aa rn ncnonHar AoroaopHrre o6epcxn. llpoqeHxara ce 3acHoBa Ha aHaN svl Ha crapocHara crpyKrypa xa no6apyaarbara, ncroptlcKttre ornl,tch, 6oHureror Ha KnheHTure KaKo n npoMeHhre Bo ycnoBure sa npo4ax6a, r4enruSuxyBaHlr no yrBpAyBabero Ha cooABerHocra Ha rcnpaBKara Ha BpeAHocra Ha coMHurenHrare no6apyeaba, Oea ru BKtlyqyBa npeTnocTaBKnTe 3a ]4AHOTO OAHeCyBabe Ha Kn[eHTrTe n pe3ynrnpaqKuTe nAHA Hannaru. Paxoeo,qcraoTo BepyBa.qeKa AononHhTeflHa rcnpaBKa Ha BpeAHOCTa, OCBeH 3a pe3epBlpalbaTa Kor ce ae(e npnraxaHn Bo QnHaHcrcxure r3BeuJTah, ne e norpe6xa. flpecuerrara L1 4.3 O6jerrrexa Bpe,qHocr O6jexrnaHara BpeAHocr na $rnaHcncKxre rHcrpyMeHrr, 3a xoja Heua aKr!1BeH na3ap, e oApe,qeHa co nphMeHa Ha cooABerHu MeroAl4 Ha BpeAHyBabe. flpyu:reoro ro np],lMeHyBa concrBeHoro npoQecvrouanHO pacyAyBabe Bo ns6opor Ha coOABerHrTe MeToAh u npeTnocTaB1u. Bpe,qHocr Ha rre qeHu Koh o6jexruexara rne 3a u 3a KornpaHu nocrojar 3a Koul KoMnoHeHru oA cpeAcrBara u o6BpcKl4Te 6rge nareprjanxo pa3nueHa oA eBlAeHrvpalara BpeAHocr. Bo Peny6nuxa BpeAHocr He nocTo[ AoBonHo na3apHo r4cKycrBo, cTao[nHocr u nxKBl4AHocr 3a KynyBa]bara u Maxe4onuja"oxe'Aa Ha no6apyaarbara KaKo r Ha Apyrure $uHaHcncxut cpeAcrBa h o6BpcKt4, co orneA Ha roa npo4ax6raie BpeAHocr He AeKa He nocrojar o6ja-aeHn na3apHh ux$opuaqru. Kaxo peoynrar Ha oBa o6jeKrrBHara ja Paroao4craoro na3ap. Ha aKrl4BeH Bo orcycrBo oApeAx ce Moxe cooABerHo t4 aepo4ocrojHo Aa npoqeHyBa LlenocHara t43noxeHocr Ha pr3r4r-11,1, 1,1 Bo cnyqau Kora npoqeHKrre sa o6jexrhBHara BpeAHocr Ha cpeAcrBara He ce peanh3rpaar, ce np[3HaBa p$epBaqxja. Mracneue Ha PaKoBo,qcrBoro e AeKa, o6enoAeHeTuTe cMeTKoBoAcTBeHr BpeAHocTx ce Ban!1AH11, BO OAHOC Ha TeKOBHhTe ycnoBu Ha na3apoT' llonrrnxa na ,Qpyrureoro e Aa ru o6enoAeHn uHSopuaqnvre 3a o6jeKr]4BHara 16 oPyKTAfl MAK AA- CKOnJE SENEU K14 KOH O14 HAHC14CK]4TE l43BElUTAh 31 aexeuapu 2011 5. nPUXOAI4 OA nPOAAXEA Bo unjagn AeHapx FoAnxn uro 3aBpuJyeaar Ha 31 AeKeMBptl, flprxoAr o4 npo4ax6a Ha AoMauJeH na3ap llpuxogr,r o,q npo4ax6a Ha crpaHcKn na3ap OAo6peHu nonycrkt Ha KynyBaqh OCTAHATI'I nPnXOAl4 2011 2010 130,355 192,985 (14,700) 151 ,703 238,843 (16,033) 308,640 374,5',t3 Bo rnjagn AeHaplt l-oAunra urro 3aBpuyeaar xa 31 [lprueHu KHt4xHn o4o6peHuja KannranHa Ao6rexa oA npoAax6a Ha xaprhl4 oA BpeAHocr pacnonoxnhBn sa npo4ax6a llpnxo4n oA HaeMHt4H14 Bnurotlvt no nontrc Ornuc Ha o6epcxn llpr,rxo4r oA npoAax6a Ha onpeMa Ocranarn nptlxoAtt h F tj 7, NOTPOTIJEHI4 MATEP],IJAJIUIACYPOBHH]4 t: l: i: l: t: t 3,330 12,565 780 74 566 ,oi 566 239 1,758 3,94; 8.428 17,516 Bo unjaAu AeHaPx FoAnnn urro 3aBpuyeaar Ha 31 AeKeMBpl.l, E I AeKeMBpX, 201 0 1,g20 l. I: t: 20'|.1 florpoureuu raareprjanr [lorpoueHn pe3epBHt4 AenoBtt Ornnc Ha cmreH uHBeHraP 2011 2010 229,858 258,836 1,316 33 2,124 469 ______4J_2w_ ______2q,4n 8. TPOluOql4 3A EHEPTnJ A U YCnYf A Bo nnjaAn AeHaPu l-ogunr'r uJro 3aBpuJyaaar na 31 AeKeMBpl,l, TpaHcnoprHu rpotlloqlt Tpouoqn 3a MapKerhHr PenpeseHraquu u cnoH3opcrBa florpoueHa exeprnja Tporuollr,r 3a oApxyBalbe HaeruHnnu Ocurypyaarue 6axxapcru rpoluoqt4 2010 11,692 9,452 2,481 6,155 12,948 12,551 7,558 4,508 1 ,153 607 2,823 1,620 1,031 4,488 ycnyru llJne4nropcrn ycnyrh hHrenexryanHu ycnyrn O6es6e4yaaue Ha o6jexrrre KoruyHanHn Tpouoqr 2011 1,859 3,237 1,449 641 3a caHhrapHu KoHrponu 1,642 OcraHaru ycnyrr 50,395 6,681 633 887 3,965 2.829 1,562 1,448 1,039 2,698 59,242 17 F - OPYKTAN MAK AA- CKONJE EEN EUJ KH KOH Ol4HAHC]4CK14TE I43BEIJITAI4 31 gexeuapu 2011 9. TPOUJOLII4 3A BPASOTEHI4TE Bo rnjaAu AeHaPlt FoAunn uro 3aBputyaaar na 31 AeKeMBpl,l, Spyro nnaru sa epa6orexnre AHeeHnLlr ea cnyx6exn naryBaba 2011 2010 26,483 33,613 133 288 207 345 108 361 444 800 22 24 HaAovrecroqu 3a qneHoBt4re Ha YnpaeeH r,r Hagsopen Oa6op ornpervrHuHn 3a 3aMuHyBarue ao neusnja Perpecr 3a roAhueH oAMoP OcraHarn rpoluoqtl ea epa6oreunre Pesepanpar+a 3a neH3h14 sa epa6oreHnre 26 56 78 Peseparpar+a sa jy6nnejHV Hatpaqu :: 10. ocrAHATl4TPOlUOql4 27,457 35,531 Bo unja4r AeHaPx l-oAnnr uro 3aBpuysaar xa 31 AeKeMBpll' Inqeuqn Tpou:oqn 3a aABoKarcxl4, HorapcKl4 h peBu3opcKl4 ycnyru Peeepaaqun 3a cYAcKl4 cnopoB14 3agpxan AaHoK o,q go6rexa OcraHaru nHAu PeKTHl,1 AaHoqr Kycoqu Ha 3aflhx14 PacxoA Ha 3anuxt4 KannranHa sary6a HaAoutecr ea QoH4 3a BoAtl Ocranaru rpotuoqt4 2011 201 0 5,655 2,806 7,532 2,802 2,294 372 387 77 668 345 437 87 517 2,073 381 1,425 633 261 12,874 11. ncnPABKA HA BPEAHOCTA HA HEAB]4XHOCT]4TE, nOCTPOJKI',ITE h onPEMATA Bo unjagu AeHaPx FoAnnn uro 3aBpuryaaar Ha 31 AeKeMBPl,t, 2011 3ary6n oA peBanopx3allu1a - seujnu:re - 3rpaAlr Ha: O6esape4Hyaalbe Ha onpeMa - 2010 5,746 5,535 23,133 l-lET nporeBoAHa nrHrJa _ ___3tu!_ 18 OPYKTAII MAK Alq- CKONJE EEN EU K14 KOH OI4 HAHC14CKI4TE I43BElIITAt4 31 gexeuepu 2011 't2. iqAHOK HA AOEI4BKA a) ;naeHhre KoMnoHeHTkt Ha AaHoK Ha Ao6ilexa npn3HaeHu ao reeerurajor sa ceo$arHa Ao6usra ocraHara ceonQarua 4o6ltexa ce cne4Hure: u Bo hnja,qr AeHaPx FoArnn urro 3aBpuysaar Ha 31 AeKeMBpH, TexoaeH AaHoK Ha go6uera, np[3HaeH Bo l43Beulrajor 3a ceonQarHa Ao6uexa OAnoxes AaHoK Ha 2011 2010 1,113 7,084 Ao6raxa, npn3HaeH Bo ocraHarara ceonQarHa 3,924 go6r,raxa 11,008 6) Ycornacyaaruero Ha AaHoKor Ha.qo6haxa e KaKo Lllro cneAyBa: Bo rnja4n AeHaPrl l-oAnxn urro 3aBpulyaaar xa 31 AeKeMBpvl, 2010 2011 (41,656) 3ary6a npe.q oAaHoqyBabe ,0axor Ha go6uaxa no cranKa op (76,181) 10o/o flaHox Ha,qaHoLtHo Henpu3HaeHh pacxoAt4 BrynHo CornacHo r43MeHure Ha AaHoKor Ha Ao6uaxa Kon 1,1 13 7,084 1,113 7.084 ce np[MeHyBaar sa $ncxanHara 2009 roA]4Ha, Ce AaHOqHO npn3HaTh' He ce OCTBapeHaTa AO6uexa, nO OAaHOqyBalbeTO Ha U3BeCHtl TpotlloLlt'l KOt4 He v Apyrv pacnpegen6r Ha ncnnaTa 3a A1aBrAeHAn HaMeHera e He uCTaTa qenocr oAaHoqyBa Bo AoKonKy BO MOMeHT9T Ha OAaHOqyBaaT KO14,Ce O6nux, OA ao6tagxara,6unO Aa Ce BO naphqeH 1anh Henap[t{eH go6uexa ea na ocTBapeHaTa pacnpeAen6ara Ha nphMeHyBa He ce ucnnaTa. oaaa ngil,|exa "r"""ra nperxoAHara 2008 roAraxa n aKyMynnpaHara Ao6xBXa oA nopaHo' e) flprsHaeHure o411oxeHq AaHoqHI cpeAcrBa u AaHOtlHl4 O6apcxtt ce cneAHrTe: Bo nnjagu AeHaPu 31 AexeuePu,2010 AexeiaePr,2011 CpeAcrea O6epcrlr Hero CpeAcrea O6apcxr 31 Hero flpnsHaerr ao: Ocmauama ceonQamua do6uexa: Ao6rexa oA t: t: t: peaanopuaaqnja Ha 3,924 HEABUXHOCTl4 - 3,924 (3,924) s,s24 (3,s2L - 3,s24 (3,924) (3'924) t-_ I: r I 19 OPYKTAII MAK AA. CKONJE EEN EUJKl4 KOH O14 HAHCl4C K]4TE I43BEIIJTAI4 31 aexeuepn 2011 12. AAHOK HA AOEI4BKA (nposonxexue) r) flpusxaeHure oAnoxeHn AaHoqH14 Cpe.qcTBa u AaHOr{Hn o6epcxu ce cneAHuTe: Bo rnjagn AeHaPll Ao6raxa/ 1 Jaxyapu rarY6a sa roAxHara GanAo 31 l-nagHr4Ha Cango 31 Aexeuapu fiereuapu2010 Odnoxen u dano'auu o6ePcxu ,Qo6raxa oA PeBanopusaquja Ha ___-s.92!L ----19'e?1t He,4B14XHOCTi4 Bo unjaAu AeHaPh Ao6raexa/ 1 sary6a ra JaxyaPr roAlrHaTa CanAo l-naeHuxa Canao 31 Aexeuepn 31 f[exeuepn2011 Odnoxeuu danoquu o6ePcxu fio6nara oA PeBanopelaaqrja Ha 13. (3,924\ (3,924\ HeABnxHocTl,l HEABI4XHOCTU, NOCTPOJK]4 t4 ONPEMA Bo unjagu AeHaPx Cpegcrea FPa4exxn 3eruinure a6a ana/pe aar oP BpeAHocr Ha 1jauyapu2011 H l,l 314 o6jerru Elonoulxtt Bo noAro- Onpeua cPeAcrBa roBKa Bxynxo Pa Ha Ha6aexLt TpaHcQep flpo4ax6a Ha 31 AexeuePu2011 hcnpaaxa Ha BPeAHocr Ha 1 jaHyapu 2011 Auoprr,rsaqnja 3a roAhHara f1po4ax6a/pacxo4 Ha 31 gexeuaPu2011 116,549 : ut: 273,674 2,976 463 108,950 247,184 21,065 187,686 21,712 (29,548) 179,850 108,070 498,835 463 3,856 (463) (29,929) (2e,e2e) 116,549 2,718 (2) 23,781 472,762 79 - 208,830 24,430 Hero cuerxoBoAcrBeHa BpeAHocr Ha 31 4ereuePn2011 Ha 31 ,qexevrePr 2010 116.549 85,169 67,334 ::::116.549 87,005 - 85,988 269'052 : 20 OPYKTAN MAKAA. CKONJE SENEUKI4 KOH Ol4HAHCl4CK]4TE 143BE1UTA14 31 Aexeiaapu 2011 13. HEABhXHOCTI4, flOCTPOJKt4 H OflPEMA (nposonxenne) Bo Ha6aexure Ha eenjnulre, 3a roAulHara xoja 3aBpulyBa xa 31 Aexeuepu 2010, Bo BKyneH il3Hoc oA oA21,331 nryaau AeHapvl xoj ce o4xecyBa Ha oOepcxu sa AononH[renHr raKc]4 3a nphBarh3awlara na seujrulrero. EAeH oA nperxo,qH[Llnre Ha.QpyLureoro XklK Cxoncxo flone - OO3T KoHgepea Ercnopr Cxonje, hMa n3BpuJeHo ercnponpujaqrja ra seujnurero ao nepuoAor oA 1979-1981 ro1usa. noroa eo 1993 roAraxa TKC, xaro AoMnHaHreH concrBeHrK Bo HoeoQopnnpaHoro ApyuJTeo Kongexc 4oo Cronje, ro [HBecrhpaule seltjnulrero KaKo ocHoBaqK[ Bnor. 22p36 nnjagu AeHaph e BKnyqeH h3Hocor Ha ocnoaa Ha HaBeAeHoro, Bo reKor sa 2006 roAnHa,[pyu:raoro no,qHece 6apaue 3a nphBar[3aquja Ha senajuulrero 4o MunucrepcrBoro sa $rnaHcuu, Ynpaaa 3a hMorHo npaBHh oAHocl,l' oAAeneHne 3a ynpaBHa nocranKa Ha OnuJl4Ha Kracena BoAa. Bo AeKeMBptl 2010 Apyureoro 4o6t,t PeueHue oA ilInurcrepcraoro 3a OnnaHcur,r - 25-230511, Ha ocHoBa Ha Koe ce sAo6u co npaBo Ha concrBeHocr HaA servrjuulrero, Hacnporr4 npaBoro Ha Kopr4crelbe ua seujnulrero Koe nperxoiqHo ro uMaule. Oeaa o6epcra e no,qMrpeHa na 4 iauyapu 201 1 u:ro 6eue ycnoa 3a 3aBpuJyBax'e Ha npoqecor Ha npuearrsaquja. HoeMBpt4 2010 roAraHa,[pyureoro aHraxhpaue He3aB[cH]4 HaABopeuJHt4 npoqeHhrenn 3a Bplrre]be Ha npoqeHKa Ha seujnurero u 3rpaAure xa ,Qpyuraoro, co orneA Ha roa uJTo flpyureoro ro ycBor peBanopu3[paHuor MoAen 3a nocneAoBaTenHo Mepebe Ha uMoror. flpoqeuxara p$ynrrpauJe co npu3HaBalbe na sary6a Bo BKyneH n3Hoc oA 11,281 nnjapt4 AeHapr (Seneuxa 11) n peeanoph3aqroHeH Br4s.roK npu3HaeH npeKy ocraHarara ceonQarHa Ao6uexa Bo BKyneH n3Hoc oA 35,313 unia4u AeHaph, HaManeH 3a AaHoKor ($eneLuxa 17). l-lpeA eBnAeHrrpabero Ha npoqeHKara Ha senajuruurero fipyuraoro ja eeu4enrrpaue Ha6aexara, o6enoAeHera Bo nperxoAH14or naparpa$, xaxo 3rofleMyBarbe Ha Ha6ae6ara BpeAHocr Ha eeujurulrero, r noxpaj Toa ulro PeueHrero og MuHracrepcrBoro sa OuHaHcut4 2S-Z3OSI1 6eu:e Ao6neHo Bo AeKeMapra 2010 roAhHa. Paxoeo4creoTo cMera AeKa npoqeHer[or 143HoC' Ha 30 oxrou"prn iOtO, e Hajaepogocrojxo uepnno 3a peBanopll3t4paHxor l43Hoc Ha serrajuurero Ha 31 Ha 30 4erervrapu 2010. Ha 30 xoeuapn 2010 rolqtlHa, PaxoeoAcraoro n4eHrn$nKyBauJe ranArxaqrja sa o6eeepeAHyBarbe Ha eAHa eArHxqa xoja reHepnpa naph - t-1ET npor,reeo4Hara nuunia. Paxoeo4creoro aHraxl4pauJe HaABope[lHr npoqeHuren]4 sa ga ja npoqeHar HaAoMecryBai{Kara BpeAHocr Ha oBaa eAuHl4Ua 3a reHeprpabe Ha napu. 3a oeaa qen, npoqeHurenure ro Kopl4crea Mero,Aor Ha aMoprl43t4paHa ua6aaHa BpeAHocr, HaMafleHa 3a npoqeHernre rpouJoLln xa npo4ax6a. ParoaoAcreoro cMera Aera oaoj MeroA e HijeepogocrojHoro Mepuno Ha o6jexrranara BpeAHocr Ha ropeHaBeAeHoro cpeAcrBo' Ha AeHor Ha npoqeHKara HaAoMecryBaqKara Bpe,qHocr 6eule noMana oA cMerKoBoAcrBeHara BpeAHocr Ha l-lET npohsBoAcrBenara nrgnja 3a u3Hoc oA 23,133 unjagu genapn..Oaoj nsHoc 6eue npn3HaeH KaKo rpou.loK ao usaeulrajor sa ceonQarxa ,qo6raxa 3a roAhHara (Seneuxa 1 1)' E l- t t: t: I t: 21 oPyKTAn MAK A,q- CKOnJE EENEUKI.I KOH O14 HAHCl4CK]4TE I43BE]IJTAI4 31 gexeuapr 2011 14. 3Anhxn Bo rnjagu AeHaPll 31 Aereuepr 2011 CypoerHr u rvlarePujanu He4oepuexo npou3BoAcrBo l-oroeu npoh3BoAl,l Tproacxr croxr CnreH nHaenrap l4cnpaaxa Ha BpeAHocra Ha crlrHtlor :: 15. NOEAPYBATbA OA KYNYBAqI4 14 26,263 8,756 33,078 33,399 1 12 (2,461) 86,262 69,833 Bo nnjaAr AeHaPlr AexeMapu 3eM1ara flo6apyearua oA KynyBaqu oA crpaHcrBo Hauanexo 3a ucnpaBKa Ha coMHl4renHn h cnopHt4 no6apyaarua 31 gereuaPr 2011 2010 53,118 49,066 (31,630) 66,675 84,257 (32,349) 1 18,583 70,554 llo6apyaarue ea noeeke nnareHa LlapuHa flo6apyaarue ga noae(e nnareH IAB O4Hanpe4 nnareHr rpolllotlh 1,743 4,771 647 125 82,240 124j26 9,155 788 flpyrra no6apyBarba ,Qerxeruero Ha ucnpaBKaTa 3a coMHl4TenHU r 0,1 59 2,602 (2,602) OCTAHATI4 NOEAPYBA}bA 31 llo6apyeaua oA KynyBaqn oA 2010 44,183 245 2,461 14HBeHTap 31 Aereuaph cnopHl,l no6apyeaua e KaKo lllTo cneAr: Bo nnjagn AeHaPr l-oAunn Ha 1 jaxyapn uro 3aBPuyeaar Ha 31 AeKeMBpl.l, 2011 2010 32,349 17,440 14,905 486 o6eeope4Hyaaue ,QononnutrenHa ucnpaBKa Ha BpeAHocr nopaAh Ocno6o4yaalbe Ha hcnpaBKa Ha BpeAHocr (1,206) 4 1 OcraHato 32,349 16. NAPU 14 NAPUTIHI4 EKBI4BANEHTh 31 llapu eo 6anra: - BO AeHapn - BO CTpaHCKa Banyra - napl4 Bo rpaH3llT BO flapr - BO eo 6narajHa: AeHapr Bo unjagu AeHaPll 31 AexerraPu Aexeneph 2011 655 3,521- CTpaHCKa 2010 2,313 17,443 3,956 Banyra 2 9 4,178 22 OPYKTAN MAK AA- CKONJE EENEUJKl4 KOH O14 HAHCl4C K]4TE I43BEIIITAI4 31 gereuepl,l 2011 17- OCHOBHA TNABH14HA a) ArquonepcKl{ Kanuran ArqroHepcrvror Kanhran na lpyuraoro xa 31 AeKeMBpt4 2011 u 2010 ce cocrol4 oa912,023 qenocHo ynnareHr4 o6u.{xl4 aKLl14t4 co HoMl4HanHa BpeAHocr on 5.11 eapa no arquja u 29,507 nphopl'lrerH}l KyMynar[BH6 aKq]4n co HoMrHanHa BpeAHocr oa 5.1 1 eBpa no arqrja. ConcraeHrqnre Ha o6utvHu axqnu nMaar npaBo Ha noBpeMeHa AnBuAeHAa u vuaar npaBo Ha e.qeH rnac no arquja na l-eHepanuoro Co6paHne Ha ,Qpyuraoro, KaKo x npaBo Ha e.qHaKBo yqecrBo eo cnyuaj Ha nhKBrAaqrja xa,Qpyu.reoro' llpr,ropurerHuTe KyMynaTrBH[ aKqnr ce Bo concTBeHocT Ha OoH.qoT 3a neH3hcKo 14 l4HBanrACKo ocurypyBabe Ha lviax-eaoHrja r Moxar Aa ce KoHBeprupaa'r so o6n,{H14 aKLll4l4 no HuBHara npogax6a. Concraexr.{rara crpyKrypa Ha aKql4oHepcKl'lor xanuran xa ,Qpyureoro Ha 31 AeKeMBptl 2011 AeKeMBpl4 2010 e Kaxo ulro cneAx: Epoj na aKqnh 31 gexeraepn 2010 20'l'l Qpyrran 9.4. Aj4oeuvnHa OoH,q sa neH3llcKo 1,1 l,lHBanl4AcKo ocnrypyBalbe Ha Maxe4oHuja - npr4opuTeTH14 aKllhl4 OcraHalo 841,688 29,507 70,335 941,530 u 31 Booh 31 gereuepu 2010 2011 841,706 89% 890h 29,507 70,317 30h 3o/o 8% 8% 941,530 1Q0o/o 100% Bo leHrpanH[or Aeno3[rap 3a xaprut4 oA BpeAHocr Ha uMe Ha .Qpyuraoro 3anuulaHh ce 3,816 o6n'{H1'1 eBhAeHrhpaHu Ha aKllr.1r,r. Vlctnte He npercraByBaaT concrBeHo orKyneH[ aKq]ru, ryKy ce nphBpeMeHo uMe Ha ,Qpyruraoro co orneA AeKa He ce axyphpaHlt nepcoHanHhre noAaroql4 3a hMarenu $nsnvxr nnLla 3a osoj 6poj Ha aKLl1414. gexer,aapr,r 2011 roArHa Co6paHuero Ha aKqroHepr Ha lpyu.tTBoTo AoHece o.qnyKa 3a o6tt'{H14 3roneMyBabe Ha ocHoBHara rnaBHuHa npeKy xg.qaBarbe Ha HoBl4 BnoroBll co BTopa euncnja Ha ,o 143Hoc oA 1,533,000 Eepa ao AeHapcKa nporl,lBBpeAHocr no cpe.qeH Kypc Ha H$PM. Ha Aesor aKqul'l e CeyuJTe BO "*,1r, Ha u3AaBabeTO Ha OBhe QrHaXcuCxU l43BeulTan, npoLleAypaTa 3a h3AaBabe Ha HOBh Ha 30 TCK. 23 OPYKTAN MAK AII- CKONJE EEn EU Kt4 KOH O14 HAHC 31 aexeuepr 2011 17. 14C K]4TE 1'13BEltlTA14 OCHOBHA fnABH14HA (nposonxenne) 6) PesePeu oA npoMeHnre Ha Bo pesepanre ce BKflyi4eHu Hepeanh3LrpaHnre 4o6raarn n aary6n Kol4 npoh3neryBaar r Ao6t4BKxre oA npoAax6a pacnonoxuBu 3a cpeAcTBa oojeKruBHara upe4"oc, Ha Ql,lHaHcxcKure KoMnoHeHra Ha cexoja co p"Lunopra"qujata'ua rMoroT. flaHoqxrre eSerru Ko]4 ce noBp3aHr ce:. 2011 na 31 3aBp[lyBa AeKeMBpl4 ocTaHarara ceonQarHa AO6t4BKa 3a roA[Hara uJro Bo rnjagu AeHaPrl 31 AexeMepr4 h3Hoc npeA oAaHotlyBalbe 2011 31 Aexeiaeph 2010 lrlgxoc npeA Pacxogu AaHoK 3a Hero oAaHoqY- Balbe PacxoAn 3a AaHoK Hero ,Qo6nera o.q nPeoqeHyBalbe ua o6jerrnexara Bpe.qHocr Ha S[HaHcllcKure cpeAcTBa pacnonoxnnBh aa npo4ax6a PeannsrPaxu Hero 131 131 ao6raexu/(sary6u) oa cpeAcTBaTa pacnonoxnuBvl sa npo4ax6a, pexnacu$rryBaHr Bo 6nnaHcor Ha Ycnex ,Qo6uara o4 PeeanoPnsaqrja 39.237 8.924\ HA NMOTOT (686) - (686) 3e,368 (9.9?4 35,313 35'444 24 OPYKTAN MAK AI[. CKONJE EEN EUKl4 KOH O14 31 Aererrrepr 201 HAHCl4CK]4TE I43BEIUTAI4 1 oEBPCKl4 nO AOnTOPOLIH 14 KPEA14T14 Bo nnjagu AeHaPlt TeroeeH Aen 2011 Easra TeroaeH Aen 2010 HerexoBeH Aen HerexoBeH 2011 Aefl Kauarna llocneaacTanKa 2010 Hoea lby6ruancxa 6axxa, Cnoaenrja ,[or. xa 290,000 eaPa 1,230 ,4or. xa 250,000 eepa 1,076 ,[or. Ha 2,500,000 3-ueceqeH EURIBOR + 2 P.P. 28.0211 3-Mece,{eFt EURIBOR + 2 p.p. 15.03.11 3-Mece,{eH 25,587 25,586 45,022 BxYnxo: 25,587 27,892 45,022 eapa 70'608 70'608 Opyxran 4.4., Cnoeexhja EURIBOR + 2 P.P. 10.07.14 12MeceqeH ,Qor. Ha 1,144,267 eePa 16,253 12,345 44,879 58,033 ,Qor. Ha 300,000 eePa 18,452 ,Qor. Ha 301,203 eaPa 18,526 Aor. xa 792/46 eaPa 12.345 93,606 16,253 Bxynno:-- :!!,r91!L EURIBOR +2 6-ueceqeH EURIBOR p.p. 31.12.2015 p.p. 15.12.2017 +6 6-ueceqen EURIBOR +6 6-Mece,{ex EURIBOR +6 p.p. 15.12.2017 p.p. 01 .1 1 .2018 95,011 --19-237- --!9'6?9- l-qq'619- E_aHra ce o6ea6e4exn co rapaHql4l4 Kon ce ,Qonropovnnre KpeAul4 Ha ,Qpyuraoro o4 Hoea Iby6ruaHcxa u flunoeapHa yHxoH 94, Iby6ruaHa. h3AaAeHh oA MaruqHoro 4pyrr"o Qpyxran A.q, AjAOeUJ..ll,lHa (2010: 70'378 unia+n Kpe4rror og opyxran A.A. cnoeeHrja eo axyneH u3Hoc oA 61,131 unjapn AeHapr 4eHapn) npercraByBa penporpaMhparbe Ha KparKopoqHl4re o6apcxu Ha Apyu1TBoro cnpeMa Opyxran A.A. CnoeeHhja. Kpegnror o4 Qpyxran A.A. cnoaeHnja eo exyneH u3Hoc oa 48,727 uniagu rqeHapu (Eapa 792,246) e Ha Aonropor{Hure xpeAr4rft, oA MaruqHara xounaHuja, cKnyqeHh Ha Eapa o4o6p"" xaro peeuHaHcupalbe 'gOt,OZS'a Kot4 Ha 31 4exeuapur 2010 ro.qrana u3HecyBaar 18,452 lnlaan,qeHaph u KaKo u Ha KparKopot{Hl,1or KpeAur og HIE Tyryncxa SaHxa_cxnyven ua cooABerHo, 1g,526 4eHaph Osoj xpe4nr t43Hoc oA gepa SO,ObO a xoj Ha 31 gereuepn 2010 ro,qrna Lr3HecyBan 5,535 r,rnja'qh AeHapu' nniapn oa 67,189 BpeAHocr AeHapl'l. BKynHa rMor co HeABhxeH e o6eg6eaeH co xt4noreKa Ha S'0O,0OO ur Eapa r,rnjagra 25 oPvKTA.n MAK AA- CKOnJE 5 En 31 EU K14 KOH gereuapn 19. O14 HAHC 1.1 C Kl,lTE 143BElllTA14 2011 PE3EPBI4PAIbA 3A nEH3t414 14 JvEl4nEJHl4 HATPMU Bo nnjaAr AeHapn 31 gexeuapn 4exeraepr 31 2011 2010 1,152 1,096 O6epcxu eo 6unaucom ua cocmoj6a sa: OrnpeuHuHr,r n jy6rnejHu HarpaAu Ilpuxod / (mpowox) eo 6unaucom Ha ycnex 3a: Orn penl HuHu n jy6unejan HarpaAn -_-------------- ,Qenxeruero Ha pe3epBhpabara 3a neH3nh u jy6nnejHu HarpaAr e KaKo uJTo cneA[: Bo unjagr AeHapn FoAuna uro 3aBpuyea Ha 31 AeKeMBpl.l, 201 0 2011 Ha 1 jaHyapr Pesepaaqru Bo roAuHara 1,096 56 994 1,152 1,096 102 Axryapcxn Ao6uBKt4 u zary5n Ha 31 ,qexeuapn 20. OEBPCK]4 KOH AOEAByBAI{I4 t4 OCTAHAT]4 O6BPCKI4 Bo unja4r AeHapu 31 O6apcxn xon ,qo6aeyeaqu oA crpaHcrBo O6epcxu xox 4o6aayaavu o4 seujara flpeoueraHn o6apcrn no pa6arn Ha KynyBai{11 llpecueraHu KaMaru no KpeAt,trt4 O6epcxn 3a KaMarn O6epcxn 3a Ha6aBKa Ha settjuure f'lpecnlteraHu o6apcxu sa OoHA 3a BoAt4 [lprvrenn gexeuepu gexeuepr 2010 293,1 09 250,814 42,419 39,980 11,172 2,175 13,538 596 1,981 21,331 130 338 1,971 aBaHcvl oA KynyBaqnre 06epcrra cnpeMa apa6oreHu O6epcrn oA AaHoqvl OcraHarn o6epcxn J 31 2011 1 292 2,827 1 321 183 35'1,048 332,1 31 -i, 21. PE3EPB]4PATbA J ! J Pesepeuparuara 3a 31 4exerraepr 2011 u 2010 eo qenocr ce oAHecyBaar Ha pe3epBallx[ no cyAcKl4 CnOpOBr4, 3a Kot4 paKOBOACTBOTO CMeTa AeKa .a i e eepOjareH OAnUB Ha eKOHOMCKI4 pe6yp6l4. 26 OPYKTAN MAK AA- CKONJE EENEUJKI4 KOH OHHAHCl4C K]4TE l43BEIIITAI4 31 gereuapn 2011 oEEnoAEHvBArtA 3A nOBP3AH]4 CTPAH 14 Bo unjagr Aenapr 31 gexeuapn 31 Aereiaeph 2011 2010 1,087 144 6 2,267 1,089 llpodax6u xa: Opyrran A.9., Aj4oeuvuHa, CnoaeHnja f1laeoeapHa YnnoH 4.,q., Cnoaenrja Supa l-1eja llJ.a., Kocoeo Snpa fleja uJllK, An6aHuja Ha6aexu od: Opyxran 9.4., Aj4oaruvrHa, CnoeeHuja flueoeapxa YHrox 4.9., Cnoaennja Tpouou,u 3a KaMama: Opyxran 9.4., Aj4oauJvnua, CnoeeHnja fluaoaapHa YsroH A.A., CnoaeHnja I4snoc umo ce donxu na: Opyrran 4.9., Aj4oauvnxa, Cnoeeuuja flueoeapxa Ynuox 4.A., CnoeeHnja 34,801 421 1,237 38,578 32,825_ 18,537 32,825 24,791 5,145 2,282 6,254 1 28 5,146 2,310 352,617 324,468 352,617 1,617 326,085 Hsnoc umo ce donxu od: Qpyxran a.4., AjaoeuvnHa, Cnoeexnja fltaaoeapHa YHnoH 4.4., CnoeeHuja Snpa l-1eja [Il.a., Kocoao 504 79 12,539 13,122 Opyxran g.4., AjgoeurqrHa nMa 89.4% concrBeHocr Ha4 ,Qpyr.uraoro. ,Qpyuraoro Ha6aeysa coKoBl4 tl cupynr o4 Opyxran A.A. AjAoeuJ.{nHa. Opyrran 4.4. AjgoauJvuHa Bo reKor Ha 2011 ropnna craHa Aen oA l-pynaqrjara Hexrap. ,[pyulreoro cranyBa Bo rpaHcaKqhn co ropeHaBeAeHrre noBp3aHx cTpaHu Bp3 ocHoBa Ha rvreryce6Ho AOToBOpeHU ycnoBLl. 27 oPyKTAn MAK A}q- CKOnJE 6ETI ElIJ K14 KOH O14HAHC14CKhTE I43BEIIITA]4 31 gexeuapn 201 1 23. O14HAHC14CKl4 14HCTPyMEHTI4 Ynpaeyaare co KanrranHhor plr3nx h E h lr ,Qpyureoro ynpaByBa co caojor Kanllran 3a Aa ce o6es6e,qn 4era rte npo4onxh Aa pa6orn I Bo r,rAHuHa Bp3 ocHoBa Ha npuHr{r4nor Ha KoHrr4Hyurer npeKy xacrojyaaue Aa nocrurHe onruManeH 6anaHc noMery AonroBure t4 BxynHara rnaBHrHa. KanutanHara crpyKrypa xa ,Qpyturaoro ce cocrolr o.q AonroBn, Kou n4 BKnyqyBaar Kpeghrure o6enoAeHeru eo 6eneurxara 18, napure h nap[vHnre eKBrBaneHrrl 14 BKynHara rnaBHhHa xoja npunaia Ha aKq[oHeprre cocraBeHa oA ocHoBHa rnaBHhHa, pe3epBx h aKyMynupaHa oary6a. Paroao,qcraoro ja auanusupa KanuranHara crpyKrypa Ha MeceqHa ocHoBa. Kaxo rexepanHo npaBr4no, xa6aexlare Ha HereKoBHure cpeAcrBa ce QnnaHchpaar oA Aonropot{Hr4 KpeArrn o6es6e4exu npexy 6anxn u ce Hajvecro rapaHTnpaHu oA MaruqHoro ApyulrBo vnv Apyn .qpyulrBa Ha l-pynaqnjara. floxaoarenor Ha 3aAonxeHocr ra xpajor Ha roAuHara e KaKo utro cneAn: Bo rnjagu AeHapx 31 4exeuepn 31 gexeuapn 2010 2011 F E E Kpe4urr (,qonropoqHr u xparxopovHu) llapn r napnqHI eKBrBaneHrr 182,449 (4,178) 211,391 Hero Aonr 178,271 187,670 BrynHa rnaBHtaHa (e1,216) (44,320) (1.e5) (4.23) Hero noxagaten Ha 3aAonxeHocr (23,721) Kareropnn na $nnaxcrcKer l.rHcrpyMeHTlr Bo unjagn AeHapx t, F rr rr fr F 31 4exeuapn 2011 31 4ereuepn 2010 (Dnnancucxn cpeAcrBa QrHaHcncrn cpepcrBa pacnonoxnnBn oa npo4ax6a llo6apyeaba o.q KynyBaqr h ocraHart4 no6apyaaua flapu n napnqH14 eKBhBaneHTn 70,554 4,178 __JIJ32_ 1 1,013 18,583 23.721 143,317 (Dnnaxcucxn o6epcxn O6epcxn no Aonropot{Hx Kpe,qhrta O6apcxn no KparKopoqHr4 KpeAtartl O6epcxra roH go6aeyaar{u h ocraHaru o6epcxu 182,449 337.245 205,856 5,535 315,160 519,694 526,551 l-lenn xa ynpaByBabe co $rnancucKxre ph3ttqx OuxaHcncxure pr3t1qr4 ro BKnyqyBaar na3apHror prasrax (aanyreH px3ttK h xaMareH prsnx), KpeAhreH pt 3vKV pt43t4K Ha nIKBr4AHocr. Ouxaucucxure p]43r4r-14 ce cneAar Ha BpeMeHcKa ocHoBa n ce u:6erxyeaar npBeHcrBeHo npeKy HaManyBarbero Ha u3roxeHocra Ha ,Qpyuraoro Ha oBne p!131'1t-114. Apytureoro xe Kopr4crr,l noce6nu SuHaxcracru uHcrpyMeHrr ga Ea rn HaManu oBue pu3t4l-{n, 6npqku raKB[Te 14HcrpyMeHru He ce nptaMeHyBaar Bo Peny6nraxa Maxe4oxrja. H ln 28 OPYKTAII MAK AA- CKONJE EEII E IIJ K14 KOH O1,I 31 4exeuapra 201 23. O 1,1 HAHC H C K]4TE 1438E IIITA]4 1 HAHCI4C Kl,l 1,1 HCTPyM EHT]4 (npogonxen re) llaaapen prsux Bo rexor Ha cBoero pa6orerue ,flpyurraoro e u3noxeHo npBeHcrBeHo Ha SrxaxcucKhre pr3ull,t oA npoMeHa Ha Kypcor Ha crpaHcKr4re Banyrn r KaMarHh cranK,l (argu no4ony). lzlsnoxexocra Ha na3apHlror pt43r4K ce cneAu npeKy aHann3ara Ha ceH3rruBHocra. Heuau:e npoMeHa Bo ugnoxeHocra Ha flpyuraoro Ha na3apHnre pu3r,1r-11,1 r4nt,t HaqilHor na xoj lpyurrBoro ynpaByB a Anu ro Mepx pr43t4Kor. Ynpaeyearue co AeBH3Hltor p!t3uK ,Qpyu:reoro BpuJr4 rpaHcaKLlxr4 AeHoMr4HnpaHtA Bo crpaHcKr4 Banyn4 sapaAu Ha6aaxa na uarepurjann, croKt4 t4 onpeMa, npo,qax6a Ha cBorre npolr3BoAr4, o6es6e4yaar+e KpeArrr t,t AaBabe nosajurraqra. ,Qpyureoro He Kopr4crr4 noce6nu $uHancracxu r4HcrpyMeHru 3a Aa rn HaManr4 oBre ph3l4l-lx, 6ragejkh TaKBrre hHcrpyMeHrx He ce np[MeHyBaar ao Peny6nura MaxeAonuja. Cnopeg roa, ,[pyulraoro e h3noxeHo Ha noreHqnjaneH pr3uK oA MoxHure Qnyxryaqur Ha KypceBure Ha crpaHcKhre Banfru n HeMa cpeAcrBa co xou 6u ro HaManhra ncruor. 3a 4a ja HaManr u3noxeHocra Ha oaoj prsrar, ,[pyr.urBoro oApxyBa AoBonHa KonrquHa Ha roroBhHa Bo crpaHcKa Banyra Ha cMerKa ao 6aHxa oa nnatiarue Ha reKoBHr4Te o6epcxr.r xoH 4o6aayeaqrre Bo cTpaHcKa BanyTa. ,Qpyuraoro npe3eMa oApeAeHr4 rpaHcaKl$4l4 AeHoMxHr4paHr Bo crpaHcKa Banyra. lzlgnoxeHocra Ha npoMeHa Ha AeBhgHr4re KypceBu ce Mepu Bo paMKhre Ha napaMerphre Ha o4o6pexrre nonnrrKil. CnaerxoeogcrBeHara BperqHocr Ha MoHerapHure cpeAcrBa u o6epcxu cTpaHcKa Banyra Ha AaryMoT Ha u3BecryBabe e KaKo uJTo cne.4yBa: CPEIICTBA 31 *l lr lr lr lr gexeuepn 31 gexemapn 2010 2011 105,656 52,587 Cocroj6a Bo eBpa Ha,[pyureoro AeHoMr4Ht4paHu Bo Bo unjagu AeHaplr o6BPCKl4 31 gexeuepu 31 Aexeuapra 2011 2010 475,557 462.801 ja npraxaxyea aHaflu3ara Ha ceH3rruBHocra Ha ,Qpyulraoro na 10o/o 3roneMyBabe ta HaManyBabe Ha napnqHara eAuHr4qa - AeHapor ("nE") eo cnope46a co cooABerHa crpaHcKa Banyra. 10% npercraByBa cranKara Ha ceH3lirl4eHocr roja ce npuMeHyBa nph n3BecryBabe 3a pr43r4Kor oA npoMeHa Ha AeBr43Hr4Te KypceBh rHrepHo sa norpe6ure Ha KnyqHtaor paKoBoAeH nepcoHan u ucraTa npercraByBa npoqeHKa Ha paKoBoAcrBoro 3a npoMeHa Ha Kypcor Ha cTpaHcKara Banyra co pa3yMHa aepojarHocr. Ananngara Ha ceH3r,rrr4BHocr ril BKnyqyBa eAHHcrBeHo MoHerapHnre craBKu AeHoMr4HupaHu Bo crpaHcKu Banyrh ra rpajor Ha roAr4Hara, npu uJTo ce Bpuur xopexquja Ha HuBHara BpeAHocr npu npoMeHa Ha Kypcor Ha crpaHcKr4re Banyrlr sa 1Oo/o. lloerrueHror r3Hoc noAony o3HaqyBa HaManyBabe Ha rary6ara h ocraHan4or Kan.4ran eo cnyvaj AoKonKy AeHapor (nE) ja 3roneM[ caojara BpeAHocr Bo oAHoc Ha eBporo sa 1Ook.3a Hauanyaarbe Ha BpeAHocra Ha AeHapor Bo ogHoc Ha eBporo sa 10%, eSexror eps 4o6nexara e eAHaKoB, Ho co o6pareH npeA3Hax. CneAxara ra6ena AeranHo i ll Hauanyaare sa 10% Ha nE Bo nnja4r AeHapr 2011 2010 3roneuyaarre sa 10% Ha nE Bo rnjagr AeHapx 2011 2010 I I 3ary6a 3a ro4hHara CeHglttneHocra Ha -_____re2w) ______g ;7.19 ______422w_ _______37_Jl!_ ,Qpyureoro Ha crpaHcKa Banyra e 3HaqurenHo npoMeHera Bo cnope,q6a co npeTxoAHaTa roAxHa F F r i It ln 29 OPYKTAN MAK A'tl- CKONJE 6En EUI K14 KOH Ol4HAHCl,lCKI4TE l43BElllTAl4 31 gexeilrapr 2011 23 Ol4HAHCt4CKl4 14HCTPyMEHTl,l (npo4onxenre) Ynpaayaarue co KaMarHlror ph3lrK e pr43r4K npeKy KpeArrure co npoMeHn]4Ba KaMarHa cranKa. KaMaroHocHo $nHaHcucKo cpeAcrBo, Ho 3apaAh He3HaqnrenHilre KaMarHu cranKu Kor ru Hoct4 oBa cpeAcrBo, l4croro ce cMera 3a HeKaMaroHocHo cpeAcrao. ,Qpyureoro ce cnpaByBa co oeoj pu3hK npeKy cneAelbe Ha ABuxebero Ha KaMarHLlTe cranKr Ha na3apor 14 ,flpyu.reoro u3noxeHo Ha KaMarHror flapuvnrre cpegcrBa Bo 6aHKa ce o6HoByBabe Ha AoroBopt4re co xoruepqrjaflHhre 6anxu. CMerxoeoAcrBeHara BpeAHocr Ha SrHaHcucKr4Te cpeAcrBa h o6Bpcxu na xpajor Ha roAnHara e KaKo Lllro cneAh: Bo 31 rnjagr AeHapr 31 gereuapr Aexerrepr 2010 2011 @unaxcucxtt cpeAcrBa Hexauamouocuu : <Drxaxcrcru cpeAcrBa pacnonoxn u Bu sa npo,qax6a flo6apyearea oA KynyBaqu r ocraHarh no6apyaarua flapu u napr4qHn eKBhBaneHTr 70,554 4,178 74,732 1 1 ,013 18,583 23,721 ______113311_ Orxancrcxu o6epcxr Hexauamouocuu: O6apcxn xoH 4o6aayear{}r fl poueunuea KaM amH 14 ocraHaru o6epcxn 337,245 315,160 182,449 205,856 182,449 211,391 a cman Ka : O6apcxr no Aonropot{Ht4 KpeArrrt O6epcru no KparKopoqHx KpeAnrh 5,53s _____9e,991_ 526,551 Auanusa Ha ceH3armuaHocma Ha KaMamHu cmanKu Axanr3ara Ha ceH3urt4BHocra e oApeAeHa Bp3 ocHoBa Ha [3noxeHocra Ha,flpyuraoro Ha npoMeHa Ha KaMarH[re cranKh Ha QrxaHoacx]4re rHcrpyMeHrh Ha AeHor Ha useeulrajor sa $nlaHcncxara cocroj6a. 3a QutancucKure uHcrpyMeHTu co eapraja6nnHu KaMarHr cranKu, aHanll3ara e u3rorBeHa noA npernocraBKa AeKa u3Hocure Ha xpajor Ha roAxHara 6rne HenpoueHeru Bo reKor Ha qenara roAhHa. flpn r:roreyeabeTo Ha aHanr3aTa Ha ceH3uTt4BHocTa Ha npoMeHuTe Ha KaMaTHLITe cTanKu, Kopl4creHo e 3roneMyBalbe un[ HaManyBarbe Ha KaMarHure cranKh ga 2 npoqeurHu noeHr, uJTo npercraByBa pa3yMHa npglleHa Ha PaxOeOgCrBOTo 3a MoXHUTe npOMeHl4 Ha KaMaTHl4Te cTanKu. ,Qoxonxy KaMarHnre cranKt4 6u 6nne noBr4coKLl, oAHocHo noHucKl4, aa 2 npoqeurHta noeHu, a chre Apyrh eapuja6nn HenpoMeHerr, sary6ara Ha,Qpyureoro 3a ro.quHara uJro 3aBplllyBa Ha 31 gexeuepu 2011 6n 6nna noar4coKa, oAHocHo noHhcKa sa 3,649 n$agu AeHapr (2010:4,228 unjaAu 4eHapu). Ocetnneocra Ha ,Qpyuraoro Ha ph3t4Kor oA npoMeHa Ha KaMarHure e He3HaqhrenHo npoMeHera sa roAulrara roja 3aBpuyBa na 31 4ereruepn2O11 roAuHa KaKo pe3ynrar ua nocrojaxoro Hl4Bo Ha nosajttuqu. Ynpaeyeare co KpeArtrHltor Px3hK KpeAurHror pr3uK Ce oAHecyBa Ha pt43t4Kor Kora Apyrara crpaHa HeMa Aa ru ucnonHu cBo[Te AoroBopHvl o6epcxu, ulro ke pe3ynrupa co QuHaHcucxr sary6n sa flpyureoro. ,Qpyureoro e h3noxeHo Ha 3HaqureneH KpeAhreH p!13l,rx oA crpaHa Ha Heroauor Hajronervr KynyBaq, xoj npercraeyaa 35.20h og BKynHrre 6pyro no6apyBalba oA KynyBaer sa 31 Aexerraapn 2011 (2010: 34.3Vo). l-lo6apyeauara og KynyBaqu ra,[pyLureoro He ce o6es6e4exu co Konarepan. 30 oPyKTArl MAr( A'q- CKOnJE sENEUKI4 KOH O1'1 HAHCl4CK]4TE 143BE1UTA14 31 gexeuepr 2011 23. O14HAHC14CK14 1'lHCTPyMEHTl,l Ynpaeyaarue co KpeAurlrxor (npogonxenre) pr.r3r.rK Crpyxrypara xa no6apyeabara oA KynyBai{xre Ha 31 AeKeMBpn201 1 rognHa e Crpyrrypara Ha cneA[: l,t3tlO}l(eHOCT Bo nnjagn AeHapn Hero BpeAHOCra l.l3noxeHocT 48,506 20,837 32,841 (3r,ogot 48,506 20,837 1,211 102,184 (31,630) 70,554 Epyro HeAocneaHu no6apyaaua ,QocneaHr, Ho He ouJTerexu no6apyeaua ,QocneaHr r ouJTereHr4 no6apyearua KaKo uJro l4cnpaaxa na no6apyaalbara oA KynyBaqr4re Ha 31 Aexeugpu 2010 roA[Ha e KaKo uJro cneAu: Bo unjagn AeHapx He4ocneaHu no6apyearua ,QocneaHr, Ho He oulTereuu no6apyearua ,QocneaHr I ourrereH]4 no6apyeaua Epyro l4cnpaera xa }l3nO)l(eHOCT BpeAHOCT Hero h3noxeHocr 82,665 82,665 29,6M 29,644 38,623 (32,349) 150,932 __19?,319) 6,274 1 18,583 Hedocneauu no6apyearca Henqocneaxrre no6apyeaua Bo Ll3Hoc og 48,508 nnjagn AeHapn (2010: 82,665 nnjagn 4enapu) eo qenocr ce ogHecyBaar Ha no6apyBaba no ocHoB Ha npo4ax6n Bo reKor Ha Meceq gexerraepn 201 1 roAhHa. Oere no6apyBaba AocracyBaar 3a Hannara 15 ,4eua no AaryMor xa Qarrypupabero. Eocneauu, Ho Heowmemeuu no6apyearca CrapocHara crpyKrypa Ha AocneaH[re, Ho HeourrereHrre no6apyaaua 3a roAHHrre uro 3aBpuyBaar Ha 31 4exeruapr 2Q11 u 2010 e KaKo ulro cneAu: Bo rnjagu AeHaplr 31 Ao 30 Aexa o.q 31 Ao 90 AeHa oa 91 ao 120 aeaa oa 121 ,qo 365 Aeua Ha.q 365 AeHa gexeuapr 31 gereuapu 20'|.1 201 0 11,150 8,574 377 736 14,650 _______20_,837_ 13,981 1 ,013 ___2e$l4 31 oPyKTArr MAK AA- CKOnJE EEN EUJK]4 KOH Ol.IHAHCl4CK]4TE l43BEUJTAI4 31 gexeuepn 2011 23. Ol4HAHCl4CKl4 14HCTPyMEHT]4 (nposonxenue) IrrargxoceH px3lrK KpajHara oAroBopHocr 3a ynpaByBabe co p143r4Kor Ha nhKB[,qHocr e Ha paKoBoAcrBoro Ha ,QpyturBoro t4 Ha paKoBoAcrBoro Ha xpajuoro MarrqHo Apyr.rrBo Kor4 rMaar u3rpaAeHo cooABerHa paMKa 3a ynpaByBabe co osoj pu3t4K, npeKy roja ynpaeyaaar co KparKopoqHxre h cpe,qHopot{Hhre cpeAcrBa KaKo r co 6apalbara 3a ynpaByBabe co nrKBr4,qHocra. ,[pyuraoro ynpaByBa co prl3t4Kor Ha nhKBt4AHocr npeKy o6es6egyaarue Ha AoBonHa KofllrquHa Ha pe3epBh Ha napn Aa rlr trcnnarr o6epcxnre KoH Tper[ crpaHh. Bo cexoe BpeMe,,Qpyureoro Moxe Aa noBneqe AononHurenHl4 cpeAcrBa oA Marhi{Horo.qpyulrBo 3a Aa ro HaMan[ noHaTaMoLlJH]4oT p143nK Ha nhKB91!HOCT. Hajroneu Aen oA o6epcxure xoH 4o6aayeaeu v Apyrvtre o6epcxu AocracyBaar Bo nepuoA o4 1 4o 3 MeCeLlr, a KpeAurure AocTacyBaaT Bo cornacHocT co AorOBopeHuTe poKoBl4 co 6aHxure. CneAHrre ra6enu AeranHo ja npuxaxyeaar npeocraHara AoroBopHa AocneaHocr Ha Suxarcucrure o6apcxtt. Ta6ennre ce t43rorBeHh Bp3 ocHoBa Ha HeAhcKoHTlrpaHxre napnqHu reKoBl4 xa $uHaHcncxure o6epcrr. Bo nnjagu AeHapx 31 AexeMepn 2011 flouanxy oA 1-3 1 Meceq Meceqh 3-12 Meceqx 12-36 xaA 36 Meceqh Meceq[ O6epcrra KoH Ao6aByBaqr u o6apcru Kpegnla 337,245 ocraHaru 6,954 7,713 34,576 Bxynno 337,245 u,41; 202,131 7,713 ___3!,579_ ____91_,47J_ ____9M1_ ___€e,929_ Bo rnjaan AeHaPll 31 AereMeph 2010 flouanxy 1-3 3-12 12-36 Ha.q 36 Mecequ Meceqn Meceq[ Meceq]t Brynxo 315,160 6,476 16,608 39,441 97,089 87'001 315'160 246'615 oAl Meceq O6opcrr,r ron 4o6aayaavn o6apcxn Kpe4uru r ocraHan4 __!?1,69q- ___lq,6q9_ ____N All_ __!2,0q9_ __9zp9l- __561-Jl-9- O6jerruaxara BpeAHocr na $nHaHcucKure cpeAcrBa u QuHaHcncxure o6epcrr e o,qpeAeHa Ha cneAHuor O6jexruana BpeAHocr na SunancncKhre nHcrpyMeHrlr HAqTH: . O6jexrneHara BpeAHocr Ha $nHarcrcxnre cpeAcrBa n $utxaHcltcrure o6epcxtt co cTaHAapAHt4 ycnoBu, co Kot4 ce TpryBa Ha aKThBHl4Te nl4KBXAHt4 na3ap[, ce oApeAyBa Bp3 ocHoBa Ha KoTupaHhTe na3apHx qeHn; . OojexrheHara Bpe.qHocr Ha ocraHarlrre QuHaxcxcKl4 cpe.qcrea u o6epcxtt (co ncxnyvox Ha .qepuBarxBHl,tre uHcrpyMeHrra) ce oApeAyBa Bo cornacHocr co onuJTo npuQareHnre MoAentr Ha BpeAHyBarbe Kot4 ce 6asnpaar Ha aHanu3a Ha roroBl4HcKure reKoBl4, co Kopucretue Ha LleHn o4 o6jaeeHnre reKoBHt4 na3apHu rpaHcaKqru h noHyAeHu qeHr oA AenoBHl,lre naprHepu 3a cnhr{ Hu l4HcrpyMeHT9l. 32 lr itll @PYKTAN MAK AA- CKONJE EENEUIKH KOH O14 HAHC14CK]4TE ]43BE[IITA14 31 Aexeuepu 2011 i tt 23. O14HAHC14CKl,l 14HCTPyMEHTI4 (npogonxenre) O6jexrnana BpeAHocr xa $urancucKxre rrHcrpyMeHr]l (npoponxexue) ii CuemxoeodcmeeHa epednocm eo cnoped6a co o6iexmueuama epeduocm CMerroeo,qcrBeHara Bpe4Hocr ao cnope46a co o6jexrranara BpeAHocr Ha 31 ,qexeuapn 2011 n 2010 roAuHa e KaKo uJTo cneA[: Bo unjaAr AeHapvt l+ 31 gerervrepu 201 CuerxoeoA. BpeAHOCT IF Ounancucxu cpeAcrBa lr <DnHaHcncxr cpeAcrBa pacnonoxnuBu aa npogaxba llo6apyaaua oA KynYBaqx ut ocraHaru no6apyaaua flapn u napuqHt4 eKBnBaneHru lr 1 O6jexruexa BpeAHOcr 70,554 4,178 70,5il 74.732 74.732 gereuepr 2010 O6jexruaxa Cuerroao4. 31 BpeAHOCT BpeAHOCT 1,013 'l 1 4,178 18,583 23,721 1 ,013 18,583 23,721 ______143311_ ______J43s1l_ Onnancucru o6epcru O6apcru no AonropoqHh 182.449 KpeAnr14 It- O6epcxr no KparKopoqHu F ocraHarr KpeAurn O6apcxra ron go6aayaavu u o6epcxn 182,449 205,856 205,856 5,535 5,535 337,245 337,245 315,160 315,160 519,694 519,694 526,551 526,551 rt_ u llpemnocmaeKu KopucmeHu npu odpedyeabe ua o6iexmueua epednocm na Quuancucxu cpedcmea o6epcxu F Co orneA na earror AeKa He nocrot4 AoBonHo na3apHo l4cKycrBo, cra6rnHoct lr nrKBl'lAHocr 3a KynyBabara u npoAax6ure Ha $uHarcncKrre cpeAcrBa u o6epcxu, KaKo Ll co orneA Ha roa AeKa He nbcrojar o6jaaexn na3apH[ us4opuaqrr, 3a qenure Ha o6eno4eHyBabara noBp3aHr co o6jexrraHara Ha upeg"ocr Hi 4n"aHcncKure cpeAcrBa r o6epcrn, ,[pyulreoro ja ropncreue rexHhKara Ha aHanu3a KaMaTHhTe KopxcTaT ce Ha BpeAHyBabe TexHnKa ArlCKOHTt4paHuTe roToBhHcKH TeKOBl4. flpn aareara qen pa ce 4o6njaT peneBaHTHr4 cTanKh Sa $UxaHCracKLl llHCTpyMeHTr CO cnllt{Hkt KapaKTepucTl4Kl'1, CO ja npe4erg .KpaTKOpOt{HOCTa Ha npoLleHK[ Ha qeHTnre o,q TeKOBHnTe na3apHh TpaHcaKqhu. 3euajtir t: i f^ r r o6epcrure cnpeMa 4o6aayeavure He nocroll sxavajxo orcranyBabe Ha HrBHaTa CMeTKOBOA6TBeHa Bpe.qHOCT BO O.qHOC Ha HrBHaTa O6jerruaxa BpeAHOCT' no6apyeabara oA KynyBartnre i 24. 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