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Ũ।ق具ڶڶ୭ढ凝ڇ具ຝٙࢬڶढ݁凝ޗறխऱܶၦ݁ڇ 6-7
䰬億ࡳऱૻၦޣאՀΖ
g।ق具ڶڶ୭ढ凝ࠩڇ具ຝٙऱਬԫ݁凝ޗறխऱܶၦ၌נ 6-7
䰬億ࡳऱૻၦޣΖ
ࢨ 䨞ݮܶ㠼 ڼ䰬兘ਢ⃰شՊڇխ㧺ቼ㡕历ഇऱ䶣允ஒ䣈ऱ㩾অࠌش
ཚૻΖڼ䣈ࠌشृᙅښڜ٤ࡉࠌشՂऱࣹრࠃ咊Δ㡘س䣈հֲದऱԼڣ
ࢨնڣཚ吗լ㢸㢑㩾ቼۆΔՈլ㢸㢑Գߪࡉ凗䣈ທګૹՕᐙ㫠Ζ
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26ஂ2SWLFDO 6WDELOL]HUஃ㏘㠸㾌⪰0RGHἬ⫰ 㜄⋇㏩⏼␘ ⵌ㊈䉤⪰
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␘㢀㢌 ㇵ䞝㜄㉐⏈ 26 ⪰ ㇠㟝䚌㫴 ⫼㐡㐐㝘
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26 ὤ⏙㡴 㾨⮈⢰ 㤸㠄㡰⦐ 㣅┍╝⏼␘ 㾨⮈⢰㜄26⥀㪼⪰ 㣙㵝䚨26
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26 ὤ⏙㢨 㣅┍䚌⏈ ┍㙼 㾨⮈⢰ 㤸㠄㢨 㫴ᶤ⇌ ⥀㪼ᴴ ⺸⫠╔ ᷱ㟤
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⏼䂌Ḱ 㿄⊰ ⫼㟨䏬㢌 ᷱ㟤 ⏼䂌)Ḱ 㿄⊰(269 ⪰ 㥐㞬䚐 䙸⪸ 6/5
㾨⮈⢰㝴⏈26ὤ⏙㢨 㣅┍╌㫴 㙾㏩⏼␘
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䚔 ㍌ 㢼㡰⮤ ㉘㥉㡴 ㇠㟝㣄 㥉㢌 ㏘㠸㾌⦐ 㤴㣙 䚔 ㍌ 㢼㏩⏼␘ 6,*0$
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㥉ὤ㤵㢬 ㇠㟝㡸 㠸䚨 ㇠㟝㣄 㥉㢌 ⯜☐ ㏘㠸㾌⪰ ⅸ㐐ὤ ⵈ⣁⏼␘ ㇠㟝㣄
㥉㢌 ⯜☐ᴴ 䁐㫸 ㇵ䈐⇌ & 䝭㡴 & 㢌 ㉘㥉㢰 ⚀⏈ 䔠䀘㏘ ⫠䉤 ㏘㠸㾌ᴴ
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ㇵ㢅䚌⏈ 86% '2&. 㡸 ㇠㟝䚌㐐ὤ ⵈ⣁⏼␘ ␘⪬ ⫼㟨䏬⪰ 86% '2&. 㜄
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'6/5 㾨⮈⢰㝴 䚜 ㇠㟝䚔 ᷱ㟤 㤴䢠⏈'* ⶸ㤸㢌 $SR 7HOH &RQYHUWHU ⪰
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$) 㾨⮈⢰ ⵃ 㽕ṅ㡸 㠸䚌㜠 䚌䘸⤠⪰ ㇠㟝䚌⏈ 㾨⮈⢰㜄㉐ 䓬ṅ䙸䉤⪰
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㏩ὤ⏈ Ḥ䑕㢨 ⵃ 䞈㢌 㠄㢬㢨 ╝⏼␘ 㣙ὤᴸ ㇠㟝䚌㫴 㙾㡸 ᷱ㟤 ᶨ㦤㥐㝴
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Ȼɥɚɝɨɞɚɪɢɦ ɜɚɫ ɡɚ ɜɵɛɨɪ ɩɪɨɞɭɤɰɢɢ ɮɢɪɦɵ6LJPDɑɬɨɛɵ ɩɨɥɭɱɢɬɶ ɦɚɤɫɢɦɭɦ
ɨɬ ɜɚɲɟɝɨ ɨɛɴɟɤɬɢɜɚ 6LJPD ɩɨɠɚɥɭɣɫɬɚ ɩɪɨɱɢɬɚɣɬɟ ɢɧɫɬɪɭɤɰɢɸ ɩɟɪɟɞ
ɧɚɱɚɥɨɦ ɪɚɛɨɬɵ
ɈɉɂɋȺɇɂȿ ɑȺɋɌȿɃ ɈȻɔȿɄɌɂȼȺɊɂɋ
ĬɊɟɡɶɛɚ ɩɨɞ ɮɢɥɶɬɪ
ĭɄɨɥɶɰɨ ɡɭɦɦɢɪɨɜɚɧɢɹ
ĮɎɨɤɭɫɢɪɨɜɨɱɧɨɟ ɤɨɥɶɰɨ
įɒɤɚɥɚ ɪɚɫɫɬɨɹɧɢɣ
İɅɢɧɢɹ ɞɢɫɬɚɧɰɢɢ ɮɨɤɭɫɢɪɨɜɤɢ ɢ
ɮɨɤɭɫɧɨɝɨ ɪɚɫɫɬɨɹɧɢɹ
ıȻɚɣɨɧɟɬ
IJɉɟɪɟɤɥɸɱɚɬɟɥɶ ɪɟɠɢɦɨɜ ɮɨɤɭɫɢɪɨɜɤɢ
ijɈɝɪɚɧɢɱɢɬɟɥɶ ɞɢɫɬɚɧɰɢɢ ɮɨɤɭɫɢɪɨɜɤɢ
Ĵ
ɉɟɪɟɤɥɸɱɚɬɟɥɶ ɪɟɠɢɦɚ ɫɬɚɛɢɥɢɡɚɰɢɢ26
ĵɉɟɪɟɤɥɸɱɚɬɟɥɶ ɩɨɥɶɡɨɜɚɬɟɥɶɫɤɢɯ
ɪɟɠɢɦɨɜ
Ķɉɥɨɳɚɞɤɚ ɩɨɞ ɲɬɚɬɢɜ
ķȻɥɟɧɞɚ
ȾɅə ɄȺɆȿɊ ɌɂɉȺ1,.21$)
Ⱦɚɧɧɵɣ ɨɛɴɟɤɬɢɜ ɛɭɞɟɬ ɪɚɛɨɬɚɬɶ ɤɚɤ ɨɛɴɟɤɬɢɜɵ ɮɢɪɦɵ 1LNRQ ɫɟɪɢɢ * ɛɟɡ
ɤɨɥɶɰɚ ɭɩɪɚɜɥɟɧɢɹ ɞɢɚɮɪɚɝɦɨɣ ȼ ɡɚɜɢɫɢɦɨɫɬɢ ɨɬ ɢɫɩɨɥɶɡɭɟɦɨɣ ɦɨɞɟɥɢ
ɤɚɦɟɪɵ ɦɨɝɭɬ ɜɨɡɧɢɤɧɭɬɶ ɧɟɤɨɬɨɪɵɟ ɨɝɪɚɧɢɱɟɧɢɹ ɜ ɪɚɛɨɬɟ ɫ ɨɛɴɟɤɬɢɜɨɦ
ɄɊȿɉɅȿɇɂȿ Ʉ ɄȺɆȿɊȿ
Ʉɨɝɞɚ ɨɛɴɟɤɬɢɜ 6LJPD ɭɫɬɚɧɨɜɥɟɧ ɧɚ ɤɚɦɟɪɟ ɨɧ ɚɜɬɨɦɚɬɢɱɟɫɤɢ ɧɚɱɢɧɚɟɬ
ɪɚɛɨɬɚɬɶ ɤɚɤ ɨɛɵɱɧɵɣ ɪɨɞɧɨɣɲɬɚɬɧɵɣ ɨɛɴɟɤɬɢɜ
Ŧɇɚ ɩɨɜɟɪɯɧɨɫɬɢ ɛɚɣɨɧɟɬɚ ɧɚɯɨɞɹɬɫɹ ɦɟɯɚɧɢɡɦɵ ɢ ɷɥɟɤɬɪɢɱɟɫɤɢɟ ɤɨɧɬɚɤɬɵ
ɉɪɨɫɢɦ ɜɚɫ ɫɨɞɟɪɠɚɬɶ ɢɯ ɜ ɱɢɫɬɨɬɟ ɱɬɨɛɵ ɛɵɬɶ ɭɜɟɪɟɧɧɵɦɢ ɜ ɩɪɚɜɢɥɶɧɨɣ
ɪɚɛɨɬɟ ɨɛɴɟɤɬɢɜɚ ȼɨ ɢɡɛɟɠɚɧɢɟ ɩɨɜɪɟɠɞɟɧɢɣ ɦɟɯɚɧɢɡɦɨɜ ɢ ɤɨɧɬɚɤɬɨɜ
ɩɪɨɜɟɪɹɣɬɟ ɱɬɨ ɜɵ ɫɬɚɜɢɬɟ ɨɛɴɟɤɬɢɜ ɟɝɨ ɩɟɪɟɞɧɢɦ ɤɨɧɰɨɦ ɜɧɢɡ ɜɨ ɜɪɟɦɹ
ɫɦɟɧɵ ɨɛɴɟɤɬɢɜɚ
ɍɋɌȺɇɈȼɄȺ ɊȿɀɂɆȺ ɈɌɊȺȻɈɌɄɂ ɗɄɋɉɈɁɂɐɂɂ
Ʉɨɝɞɚ ɨɛɴɟɤɬɢɜ 6LJPD ɭɫɬɚɧɨɜɥɟɧ ɧɚ ɤɚɦɟɪɟ ɨɧ ɚɜɬɨɦɚɬɢɱɟɫɤɢ ɧɚɱɢɧɚɟɬ
ɪɚɛɨɬɚɬɶ ɤɚɤ ɨɛɵɱɧɵɣ ɪɨɞɧɨɣɲɬɚɬɧɵɣ ɨɛɴɟɤɬɢɜɋɦ ɢɧɫɬɪɭɤɰɢɸ ɤ ɤɚɦɟɪɟ
ɎɈɄɍɋɂɊɈȼɄȺ ɂ ɂɁɆȿɇȿɇɂȿ ɎɈɄɍɋɇɈȽɈ ɊȺɋɋɌɈəɇɂəɁɍɆɂɊɈȼȺɇɂȿ
ȼ ɷɬɨɬ ɨɛɴɟɤɬɢɜ ɜɫɬɪɨɟɧ Ƚɢɩɟɪ Ɂɜɭɤɨɜɨɣ Ɇɨɬɨɪ+\SHU6RQLF0RWRU+60ɗɬɨɬ
ɦɨɬɨɪ ɞɚɺɬ ɜɨɡɦɨɠɧɨɫɬɶ ɛɵɫɬɪɨɣ ɢ ɛɟɫɲɭɦɧɨɣ ɚɜɬɨɮɨɤɭɫɢɪɨɜɤɢ
䇶6,*0$$)ɢ&$121$)䇷
ɑɬɨɛɵ ɪɚɛɨɬɚɬɶ ɜ ɪɟɠɢɦɟ ɚɜɬɨɮɨɤɭɫɢɪɨɜɤɢ ɭɫɬɚɧɨɜɢɬɟ ɩɟɪɟɤɥɸɱɚɬɟɥɶ
ɪɟɠɢɦɨɜ ɮɨɤɭɫɢɪɨɜɤɢ ɜ ɩɨɥɨɠɟɧɢɟ $)ɪɢɫ Ⱦɥɹ ɮɨɤɭɫɢɪɨɜɤɢ ɜ ɪɭɱɧɨɦ
ɪɟɠɢɦɟ ± ɩɟɪɟɞɜɢɧɶɬɟ ɩɟɪɟɤɥɸɱɚɬɟɥɶ ɪɟɠɢɦɨɜ ɮɨɤɭɫɢɪɨɜɤɢ ɜ ɩɨɥɨɠɟɧɢɟ Ɇ
Ɍɟɩɟɪɶ ɜɵ ɦɨɠɟɬɟ ɮɨɤɭɫɢɪɨɜɚɬɶɫɹ ɜɪɚɳɚɹ ɮɨɤɭɫɢɪɨɜɨɱɧɨɟ ɤɨɥɶɰɨ
䇶1,.21$)䇷
ɑɬɨɛɵ ɪɚɛɨɬɚɬɶ ɜ ɪɟɠɢɦɟ ɚɜɬɨɮɨɤɭɫɢɪɨɜɤɢ ɭɫɬɚɧɨɜɢɬɟ ɩɟɪɟɤɥɸɱɚɬɟɥɶ
ɪɟɠɢɦɨɜ ɮɨɤɭɫɢɪɨɜɤɢ ɜ ɩɨɥɨɠɟɧɢɟ $) ɪɢɫ Ⱦɥɹ ɮɨɤɭɫɢɪɨɜɤɢ ɜ ɪɭɱɧɨɦ
ɪɟɠɢɦɟ ± ɩɟɪɟɞɜɢɧɶɬɟ ɩɟɪɟɤɥɸɱɚɬɟɥɶ ɪɟɠɢɦɨɜ ɮɨɤɭɫɢɪɨɜɤɢ ɜ ɩɨɥɨɠɟɧɢɟ Ɇ
Ɍɟɩɟɪɶ ɜɵ ɦɨɠɟɬɟ ɮɨɤɭɫɢɪɨɜɚɬɶɫɹ ɜɪɚɳɚɹ ɮɨɤɭɫɢɪɨɜɨɱɧɨɟ ɤɨɥɶɰɨ
ŦɁɚ ɛɨɥɟɟ ɩɨɥɧɨɣ ɢɧɮɨɪɦɚɰɢɟɣ ɨɛɪɚɬɢɬɟɫɶ ɤ ɢɧɫɬɪɭɤɰɢɢ ɤ ɜɚɲɟɣ ɤɚɦɟɪɟ
ŦɈɛɴɟɤɬɢɜɵ ɫ ɛɚɣɨɧɟɬɨɦ 1LNRQ ɦɨɝɭɬ ɢɫɩɨɥɶɡɨɜɚɬɶɫɹ ɜ ɪɟɠɢɦɟ
ɚɜɬɨɮɨɤɭɫɢɪɨɜɤɢ ɬɨɥɶɤɨ ɫ ɤɚɦɟɪɚɦɢ ɩɨɞɞɟɪɠɢɜɚɸɳɢɦɢ ɭɥɶɬɪɚɡɜɭɤɨɜɵɟ
ɦɨɬɨɪɵ ɩɪɢɜɨɞɚ ɮɨɤɭɫɢɪɨɜɤɢ ɷɥɟɤɬɪɨɧɧɵɣ ɩɪɢɜɨɞ ɮɨɤɭɫɢɪɨɜɤɢ ɞɥɹ +60
ȿɫɥɢ ɤɚɦɟɪɚ ɧɟ ɩɨɞɞɟɪɠɢɜɚɟɬ ɷɥɟɤɬɪɨɧɧɵɣ ɩɪɢɜɨɞ ɮɨɤɭɫɢɪɨɜɤɢ
ɚɜɬɨɦɚɬɢɱɟɫɤɚɹ ɧɚɜɨɞɤɚ ɧɚ ɪɟɡɤɨɫɬɶ ɛɭɞɟɬ ɧɟɞɨɫɬɭɩɧɚ
Ŧɗɬɨɬ ɨɛɴɟɤɬɢɜ ɬɚɤɠɟ ɩɨɡɜɨɥɹɟɬ ɮɨɤɭɫɢɪɨɜɚɬɶɫɹ ɜɪɭɱɧɭɸ ɜ ɪɟɠɢɦɟ©$)ªȾɥɹ
ɷɬɨɝɨ ɤɚɦɟɪɚ ɞɨɥɠɧɚ ɧɚɯɨɞɢɬɫɹ ɜ ɪɟɠɢɦɟ ɨɞɧɨɤɚɞɪɨɜɨɣ ɫɴɺɦɤɢ ɑɬɨɛɵ
ɫɮɨɤɭɫɢɪɨɜɚɬɶɫɹ ɜɪɭɱɧɭɸ ɧɚɞɨ ɞɨɠɞɚɬɶɫɹ ɩɨɤɚ ɡɚɤɨɧɱɢɬɶɫɹ ɩɪɨɰɟɫɫ
ɚɜɬɨɮɨɤɭɫɢɪɨɜɤɢ ɜ ɦɨɦɟɧɬ ɩɨɥɭ ɩɪɢɠɚɬɢɹ ɤɧɨɩɤɢ ɫɩɭɫɤɚ ɡɚɬɜɨɪɚ
Ŧȼɨ ɢɡɛɟɠɚɧɢɟ ɩɨɥɨɦɨɤ ɦɟɯɚɧɢɡɦɚ ɚɜɬɨɦɚɬɢɱɟɫɤɨɣ ɮɨɤɭɫɢɪɨɜɤɢ ɧɟ ɜɪɚɳɚɣɬɟ
ɤɨɥɶɰɨ ɮɨɤɭɫɢɪɨɜɤɢ ɩɪɢ ɪɚɛɨɬɟ ɜ ɪɟɠɢɦɟ ɚɜɬɨɦɚɬɢɱɟɫɤɨɣ ɮɨɤɭɫɢɪɨɜɤɢ
ɂɡɦɟɧɟɧɢɟ ɮɨɤɭɫɧɨɝɨ ɪɚɫɫɬɨɹɧɢɹɡɭɦɢɪɨɜɚɧɢɟ
ȼɪɚɳɚɣɬɟ ɤɨɥɶɰɨ ɢɡɦɟɧɟɧɢɹ ɮɨɤɭɫɧɨɝɨ ɪɚɫɫɬɨɹɧɢɹ ɞɨ ɬɟɯ ɩɨɪ ɩɨɤɚ ɧɟ
ɞɨɫɬɢɝɧɢɬɟ ɧɭɠɧɵɯ ɝɪɚɧɢɰ ɤɚɞɪɚ
ɈȽɊȺɇɂɑɂɌȿɅɖ ȾɂɋɌȺɇɐɂɂ ɎɈɄɍɋɂɊɈȼɄɂ
Ɉɛɴɟɤɬɢɜ ɫɧɚɛɠɺɧ ɨɝɪɚɧɢɱɢɬɟɥɟɦ ɞɢɫɬɚɧɰɢɢ ɮɨɤɭɫɢɪɨɜɤɢ ɤɨɬɨɪɵɣ ɩɨɡɜɨɥɹɟɬ
ɥɢɦɢɬɢɪɨɜɚɬɶ ɞɢɚɩɚɡɨɧ ɮɨɤɭɫɢɪɨɜɤɢ ɜ ɚɜɬɨɮɨɤɭɫɧɨɦ ɪɟɠɢɦɟɪɢɫ
ȼɨɡɦɨɠɟɧ ɜɵɛɨɪ ɬɪɺɯ ɪɟɠɢɦɨɜ
ä ɉɨɥɧɵɣ )8//Ɇɢɧɢɦɚɥɶɧɚɹ ɞɢɫɬɚɧɰɢɹ ɮɨɤɭɫɢɪɨɜɤɢa Đ
ä ɦa Đ
ä Ɇɢɧɢɦɚɥɶɧɚɹ ɞɢɫɬɚɧɰɢɹ ɮɨɤɭɫɢɪɨɜɤɢaɦ
ȼɈɁɆɈɀɇɈɋɌɂ ɈɉɌɂɑȿɋɄɈȽɈ ɋɌȺȻɂɅɂɁȺɌɈɊȺ26
Ɉɛɴɟɤɬɢɜ ɫɧɚɛɠɺɧ Ɉɩɬɢɱɟɫɤɢɦ ɋɬɚɛɢɥɢɡɚɬɨɪɨɦ26ɞɥɹ ɷɮɮɟɤɬɢɜɧɨɝɨ ɭɫɬɪɚɧɟɧɢɹ
ɫɦɚɡɵɜɚɧɢɹ ɢɡɨɛɪɚɠɟɧɢɹ ɜɨɡɧɢɤɚɸɳɟɝɨ ɜɫɥɟɞɫɬɜɢɟ ɫɨɬɪɹɫɟɧɢɣ ɤɚɦɟɪɵ
Ȼɥɚɝɨɞɚɪɹ ɨɩɬɢɱɟɫɤɨɦɭ ɫɬɚɛɢɥɢɡɚɬɨɪɭ ɜɵ ɫɦɨɠɟɬɟ ɞɨɛɢɜɚɬɶɫɹ ɪɟɡɤɨɝɨ
ɢɡɨɛɪɚɠɟɧɢɹ ɩɪɢ ɫɴɺɦɤɟ ɫ ɜɵɞɟɪɠɤɚɦɢ ɧɚ ɫɬɭɩɟɧɢ ɦɟɞɥɟɧɧɟɟ ɱɟɦ ɟɫɥɢ ɛɵ
ɜɵ ɢɫɩɨɥɶɡɨɜɚɥɢ ɨɛɴɟɤɬɢɜ ɛɟɡ ɮɭɧɤɰɢɢ ɫɬɚɛɢɥɢɡɚɰɢɢ
ɍɫɬɚɧɨɜɢɬɟ ɩɟɪɟɤɥɸɱɚɬɟɥɶ ɪɟɠɢɦɚ ɫɬɚɛɢɥɢɡɚɰɢɢ 26 ɜ ɩɨɥɨɠɟɧɢɟ 0RGH
ɪɢɫ ɇɚɠɦɢɬɟ ɤɧɨɩɤɭ ɫɩɭɫɤɚ ɡɚɬɜɨɪɚ ɧɚɩɨɥɨɜɢɧɭ ɢ ɭɛɟɞɢɬɟɫɶ ɜ ɬɨɦ ɱɬɨ
ɢɡɨɛɪɚɠɟɧɢɟ ɫɬɚɛɢɥɢɡɢɪɨɜɚɥɨɫɶ ɡɚɬɟɦ
ɧɚɠɦɢɬɟ ɤɧɨɩɤɭ ɫɩɭɫɤɚ ɡɚɬɜɨɪɚ
Ɉɤɨɧɱɚɬɟɥɶɧɚɹ ɫɬɚɛɢɥɢɡɚɰɢɹ ɢɡɨɛɪɚɠɟɧɢɹ ɡɚɧɢɦɚɟɬ ɩɪɢɛɥɢɡɢɬɟɥɶɧɨɫɟɤɭɧɞɭ
ɩɨɫɥɟ ɧɚɠɚɬɢɹ ɤɧɨɩɤɢ ɫɩɭɫɤɚ ɡɚɬɜɨɪɚ ɧɚɩɨɥɨɜɢɧɭ ȼ ɪɟɠɢɦɟ ɫɬɚɛɢɥɢɡɚɰɢɢ
0RGH ɨɩɪɟɞɟɥɹɸɬɫɹ ɢ ɤɨɦɩɟɧɫɢɪɭɸɬɫɹ ɜɟɪɬɢɤɚɥɶɧɵɟ ɫɨɬɪɹɫɟɧɢɹ ɤɚɦɟɪɵ
ɗɬɨɬ ɪɟɠɢɦ ɷɮɮɟɤɬɢɜɟɧ ɞɥɹ ɫɴɺɦɤɢ ɨɛɴɟɤɬɨɜ ɞɜɢɝɚɸɳɢɯɫɹ ɝɨɪɢɡɨɧɬɚɥɶɧɨɣ
ɩɥɨɫɤɨɫɬɢ ɨɬɧɨɫɢɬɟɥɶɧɨ ɤɚɦɟɪɵ
ŦɄɨɦɩɟɧɫɚɰɢɹ ɫɞɜɢɝɨɜ ɤɚɦɟɪɵ ɨɩɬɢɱɟɫɤɢɦ ɫɬɚɛɢɥɢɡɚɬɨɪɨɦ ɷɮɮɟɤɬɢɜɧɚ ɩɪɢ
ɫɴɺɦɤɟ ɫ ɪɭɤ ȼ ɫɢɬɭɚɰɢɹɯ ɨɩɢɫɚɧɧɵɯ ɧɢɠɟ ɪɚɛɨɬɚ ɨɩɬɢɱɟɫɤɨɝɨ ɫɬɚɛɢɥɢɡɚɬɨɪɚ
ɦɨɠɟɬ ɛɵɬɶ ɧɟɭɞɨɜɥɟɬɜɨɪɢɬɟɥɶɧɨɣ
ƒ ɋɴɺɦɤɚ ɫ ɬɪɚɧɫɩɨɪɬɧɨɝɨ ɫɪɟɞɫɬɜɚɧɚɩɪɢɦɟɪ ɚɜɬɨɦɨɛɢɥɹ
ƒ ȼ ɫɥɭɱɚɟ ɡɧɚɱɢɬɟɥɶɧɵɯ ɫɨɬɪɹɫɟɧɢɣ ɢɥɢ ɫɞɜɢɝɨɜ ɤɚɦɟɪɵ
Ŧɇɟ ɢɫɩɨɥɶɡɭɣɬɟ ɨɩɬɢɱɟɫɤɭɸ ɫɬɚɛɢɥɢɡɚɰɢɸ ɜ ɫɥɟɞɭɸɳɢɯ ɫɥɭɱɚɹɯ
ƒ ȿɫɥɢ ɨɛɴɟɤɬɢɜ ɡɚɤɪɟɩɥɺɧ ɧɚ ɲɬɚɬɢɜɟ ƒ ɉɪɢ ɞɥɢɧɧɵɯ ɜɵɞɟɪɤɚɯ
ŦɈɩɬɢɱɟɫɤɢɣ ɫɬɚɛɢɥɢɡɚɬɨɪ ɩɢɬɚɟɬɫɹ ɨɬ ɤɚɦɟɪɵ ɉɪɢ ɢɫɩɨɥɶɡɨɜɚɧɢɢ ɤɚɦɟɪɵ ɧɚ
ɤɨɬɨɪɭɸ ɭɫɬɚɧɨɜɥɟɧ ɨɛɴɟɤɬɢɜ ɫ ɜɤɥɸɱɺɧɧɵɦ ɨɩɬɢɱɟɫɤɢɦ ɫɬɚɛɢɥɢɡɚɬɨɪɨɦ
ɜɪɟɦɹ ɪɚɛɨɬɵ ɭɦɟɧɶɲɚɟɬɫɹ ɟɫɥɢ ɫɪɚɜɧɢɜɚɬɶ ɪɚɛɨɬɭ ɬɨɣ ɠɟ ɤɚɦɟɪɵ ɫ
ɨɛɵɱɧɵɦ ɨɛɴɟɤɬɢɜɨɦ ȿɫɥɢ ɧɟɬ ɧɟɨɛɯɨɞɢɦɨɫɬɢ ɢɫɩɨɥɶɡɨɜɚɬɶ ɨɩɬɢɱɟɫɤɢɣ
ɫɬɚɛɢɥɢɡɚɬɨɪ ɩɟɪɟɦɟɫɬɢɬɟ ɩɟɪɟɤɥɸɱɚɬɟɥɶ ɪɟɠɢɦɚ ɫɬɚɛɢɥɢɡɚɰɢɢ ɜ ɩɨɥɨɠɟɧɢɟ
2))ȼɵɤɥɸɱɟɧɱɬɨ ɩɨɡɜɨɥɢɬ ɢɡɛɟɠɚɬɶ ɢɡɥɢɲɧɟɝɨ ɪɚɫɯɨɞɚ ɷɧɟɪɝɢɢ ɛɚɬɚɪɟɣ
Ŧɉɪɢ ɭɫɬɚɧɨɜɤɟ ɢɥɢ ɫɧɹɬɢɢ ɨɛɴɟɤɬɢɜɚ ɫ ɤɚɦɟɪɵ ɭɛɟɞɢɬɟɫɶ ɱɬɨ ɩɟɪɟɤɥɸɱɚɬɟɥɶ
ɪɟɠɢɦɚ ɫɬɚɛɢɥɢɡɚɰɢɢ ɧɚɯɨɞɢɬɫɹ ɜ ɩɨɥɨɠɟɧɢɟ2))
Ŧȿɫɥɢ ɜɵ ɩɪɟɤɪɚɬɢɥɢ ɭɞɟɪɠɢɜɚɬɶ ɤɧɨɩɤɭ ɫɩɭɫɤɚ ɡɚɬɜɨɪɚ ɜ ɩɨɥɭɧɚɠɚɬɨɦ
ɩɨɥɨɠɟɧɢɢ ɨɩɬɢɱɟɫɤɢɣ ɫɬɚɛɢɥɢɡɚɬɨɪ ɩɪɨɞɨɥɠɚɟɬ ɫɜɨɸ ɪɚɛɨɬɭ ɞɨ ɬɟɯ ɩɨɪ
ɩɨɤɚ ɞɢɫɩɥɟɣ ɮɨɬɨɤɚɦɟɪɵ ɨɬɨɛɪɚɠɚɟɬ ɡɧɚɱɟɧɢ ɷɤɫɩɨɡɢɰɢɢ ȼɨ ɢɡɛɟɠɚɧɢɢ
ɩɨɜɪɟɠɞɟɧɢɹ ɨɛɴɟɤɬɢɜɚ ɧɟ ɢɡɜɥɟɤɚɣɬɟ ɛɚɬɚɪɟɣ ɢɡ ɤɚɦɟɪɵ ɢ ɧɟ ɫɧɢɦɚɣɬɟ ɫ
ɧɟɺ ɨɛɴɟɤɬɢɜ ɟɫɥɢ ɨɩɬɢɱɟɫɤɢɣ ɫɬɚɛɢɥɢɡɚɬɨɪ ɧɚɯɨɞɢɬɫɹ ɜ ɪɚɛɨɱɟɦ ɪɟɠɢɦɟ
Ŧɇɟ ɫɦɨɬɪɹ ɧɚ ɬɨ ɱɬɨ ɜ ɩɪɨɰɟɫɫɟ ɮɨɬɨɝɪɚɮɢɪɨɜɚɧɢɹ ɫ ɜɤɥɸɱɺɧɧɵɦ
ɨɩɬɢɱɟɫɤɢɦ ɫɬɚɛɢɥɢɡɚɬɨɪɨɦ ɢɡɨɛɪɚɠɟɧɢɟ ɦɨɠɟɬ ɛɵɬɶ ɧɟ ɫɬɚɛɢɥɢɡɢɪɨɜɚɧɧɵɦ
ɫɪɚɡɭ ɩɨɫɥɟ ɫɴɺɦɤɢ ɤɚɞɪɚ ɢɥɢ ɜɨ ɜɪɟɦɹ ɡɚɪɹɞɤɢ ɜɫɬɪɨɟɧɧɨɣ ɜ ɤɚɦɟɪɭ
ɜɫɩɵɲɤɢ ɷɬɨ ɧɟ ɫɤɚɡɵɜɚɟɬɫɹ ɧɚ ɩɨɥɭɱɟɦɵɯ ɮɨɬɨɝɪɚɮɢɹɯ
Ŧȿɫɥɢ ɩɢɬɚɧɢɟ ɤɚɦɟɪɵ ɛɵɥɨ ɜɵɤɥɸɱɟɧɨ ɢɥɢ ɨɛɟɤɬɢɜ ɛɵɥ ɫɧɹɬ ɫ ɤɚɦɟɪɵ ɜɨ
ɜɪɟɦɹ ɪɚɛɨɬɵ ɨɩɬɢɱɟɫɤɨɝɨ ɫɬɚɛɢɥɢɡɚɬɨɪɚ ɨɛɴɟɤɬɢɜ ɦɨɠɟɬ ɢɡɞɚɜɚɬɶ
ɞɪɟɛɟɡɠɚɳɢɣ ɡɜɭɤ ɗɬɨɬ ɡɜɭɤ ɧɟ ɹɜɥɹɟɬɫɹ ɫɢɝɧɚɥɨɦ ɧɟɢɫɩɪɚɜɧɨɫɬɢ
Ŧɉɪɢ ɢɫɩɨɥɶɡɨɜɚɧɢɢ ɨɛɴɟɤɬɢɜɨɜ ɜ ɛɚɣɨɧɟɬɧɵɯ ɦɨɞɢɮɢɤɚɰɢɹɯ1LNRQɢ&DQRQɫ
ɩɥɟɧɨɱɧɵɦɢ ɤɚɦɟɪɚɦɢ ɷɬɢɯ ɫɢɫɬɟɦ ɮɭɧɤɰɢɹ ɨɩɬɢɱɟɫɤɨɣ ɫɬɚɛɢɥɢɡɚɰɢɢ 26
ɛɭɞɟɬ ɧɟɞɨɫɬɭɩɧɚɡɚ ɢɫɤɥɸɱɟɧɢɟɦ ɦɨɞɟɥɟɣ)ɢ&DQRQ(269
ɉȿɊȿɄɅɘɑȺɌȿɅɖ ɉɈɅɖɁɈȼȺɌȿɅɖɋɄɂɏ ɊȿɀɂɆɈȼ
ɂɫɩɨɥɶɡɭɹ86%ɞɨɤ ɫɬɚɧɰɢɸɩɪɨɞɚɟɬɫɹ ɨɬɞɟɥɶɧɨ ɢ ɩɪɨɝɪɚɦɦɧɨɟ ɨɛɟɫɩɟɱɟɧɢɟ
6,*0$ 2SWLPL]DWLRQ 3UR ɜɵ ɦɨɠɟɬɟ ɫɚɦɨɫɬɨɹɬɟɥɶɧɨ ɨɫɭɳɟɫɬɜɥɹɬɶ ɧɚɫɬɪɨɣɤɢ
ɫɤɨɪɨɫɬɢ ɚɜɬɨɮɨɤɭɫɚ ɨɝɪɚɧɢɱɢɬɟɥɹ ɡɨɧɵ ɮɨɤɭɫɢɪɨɜɤɢIRFXVOLPLWHUɢ ɨɩɬɢɱɟɫɤɨɝɨ
ɫɬɚɛɢɥɢɡɚɬɨɪɚ ɢɡɨɛɪɚɠɟɧɢɹ 26 ɇɚɫɬɪɨɣɤɢ ɨɛɴɟɤɬɢɜɚ ɫɨɯɪɚɧɹɸɬɫɹ
ɩɟɪɟɤɥɸɱɚɬɟɥɟɦ ɩɨɥɶɡɨɜɚɬɟɥɶɫɤɢɯ ɪɟɠɢɦɨɜ&XVWRP0RGH6ZLWFKȾɥɹ ɩɨɥɭɱɟɧɢɹ
ɢɧɮɨɪɦɚɰɢɢ ɨ ɩɨɞɤɥɸɱɟɧɢɢ ɫɬɚɧɰɢɢ ɤ ɤɨɦɩɶɸɬɟɪɭ ɢ ɜɵɩɨɥɧɟɧɢɢ ɧɚɫɬɪɨɟɤ
ɨɛɴɟɤɬɢɜɚ ɨɛɪɚɳɚɣɬɟɫɶ ɜ ɪɚɡɞɟɥ©ɋɩɪɚɜɤɚª ɩɪɨɝɪɚɦɦɵ6,*0$2SWLPL]DWLRQ3UR
Ŧɉɪɢ ɩɨɜɫɟɞɧɟɜɧɨɦ ɢɫɩɨɥɶɡɨɜɚɧɢɢ ɨɛɴɟɤɬɢɜɚ ɞɟɪɠɢɬɟ ɩɟɪɟɤɥɸɱɚɬɟɥɶ
ɩɨɥɶɡɨɜɚɬɟɥɶɫɤɢɯ ɪɟɠɢɦɨɜ ɜɵɤɥɸɱɟɧɧɵɦ ɉɟɪɟɤɥɸɱɚɬɟɥɶ ɨɝɪɚɧɢɱɢɬɟɥɹ ɡɨɧɵ
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ɭɫɬɚɧɨɜɥɟɧ ɫ ɋ ɢɥɢ ɋɪɢɫ
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Ɉɛɴɟɤɬɢɜ ɫɧɚɛɠɺɧ ɲɬɚɬɢɜɧɵɦ ɤɪɟɩɥɟɧɢɟɦ ɉɪɢ ɨɫɜɨɛɨɠɞɟɧɢɢ ɛɥɨɤɢɪɭɸɳɟɝɨ
ɜɢɧɬɚ ɧɚ ɤɪɟɩɥɟɧɢɢ ɨɛɴɟɤɬɢɜ ɫ ɤɚɦɟɪɨɣ ɦɨɠɟɬ ɛɵɬɶ ɩɨɜɺɪɧɭɬ ɞɥɹ
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ɉɪɢ ɠɟɥɚɧɢɢ ɲɬɚɬɢɜɧɨɟ ɤɪɟɩɥɟɧɢɟ ɦɨɠɟɬ ɛɵɬɶ ɫɧɹɬɨ ɫ ɨɛɴɟɤɬɢɜɚ ɞɥɹ ɛɨɥɟɟ
ɭɞɨɛɧɨɣ ɪɚɛɨɬɵ Ⱦɥɹ ɷɬɨɝɨ ɨɫɜɨɛɨɞɢɬɟ ɛɥɨɤɢɪɭɸɳɢɣ ɜɢɧɬ ɚ ɡɚɬɟɦ ɫɨɜɦɟɫɬɢɬɟ
ɨɬɦɟɬɤɭ ɧɚ ɲɬɚɬɢɜɧɨɦ ɤɪɟɩɥɟɧɢɢ ɫ ɦɟɬɤɨɣ 5(029( ɧɚ ɨɛɴɟɤɬɢɜɟ ɪɢɫ
Ɂɚɬɟɦ ɩɨɬɹɧɢɬɟ ɲɬɚɬɢɜɧɨɟ ɤɪɟɩɥɟɧɢɟ ɜ ɧɚɩɪɚɜɥɟɧɢɢ ɩɨɤɚɡɚɧɧɨɦ ɧɚ ɪɢɫɢ
ɫɧɢɦɢɬɟ ɟɝɨ
ŦȾɥɹ ɭɫɬɚɧɨɜɤɢ ɲɬɚɬɢɜɧɨɝɨ ɤɪɟɩɥɟɧɢɹ ɧɚ ɨɛɴɟɤɬɢɜɟ ɜɵɩɨɥɧɢɬɟ ɨɩɟɪɚɰɢɢ
ɨɩɢɫɚɧɧɵɟ ɜɵɲɟ ɜ ɨɛɪɚɬɧɨɦ ɩɨɪɹɞɤɟ
Ŧɍɫɬɚɧɚɜɥɢɜɚɣɬɟ ɲɬɚɬɢɜɧɨɟ ɤɪɟɩɥɟɧɢɟ ɜ ɩɨɥɨɠɟɧɢɟ ɬɨɥɶɤɨ ɞɥɹ ɟɝɨ ɫɧɹɬɢɹ ɢɥɢ
ɭɫɬɚɧɨɜɤɢ ȼ ɩɪɨɬɢɜɧɨɦ ɫɥɭɱɚɟ ɭɫɬɚɧɨɜɥɟɧɧɨɟ ɬɚɤɢɦ ɨɛɪɚɡɨɦ ɤɪɟɩɥɟɧɢɟ
ɦɨɠɟɬ ɫɨɫɤɨɱɢɬɶ ɫ ɨɛɴɟɤɬɢɜɚ ɢ ɜɵɡɜɚɬɶ ɟɝɨ ɩɚɞɟɧɢɟ Ɂɚɤɪɟɩɥɹɣɬɟ ɛɥɨɤɢɪɭɸɳɢɣ
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ɎɈɌɈȽɊȺɎɂɊɈȼȺɇɂȿ ɋ ɄɈɇȼȿɊɌȿɊȺɆɂ
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Ŧɇɟ ɢɫɩɨɥɶɡɭɣɬɟ ɬɟɥɟɤɨɧɜɟɪɬɟɪɵ ɫɬɨɪɨɧɧɢɯ ɩɪɨɢɡɜɨɞɢɬɟɥɟɣ ɞɚɧɧɵɣ ɨɛɴɟɤɬɢɜ
ɫɨɜɦɟɫɬɢɦ ɬɨɥɶɤɨ ɫ ɨɪɢɝɢɧɚɥɶɧɵɦɢ ɬɟɥɟɤɨɧɜɟɪɬɟɪɚɦɢ6LJPD
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Ɇɵ ɪɟɤɨɦɟɧɞɭɟɦ ɢɫɩɨɥɶɡɨɜɚɬɶ'*$327HOH&RQYHUWHUɫ ɰɢɮɪɨɜɵɦɢ ɡɟɪɤɚɥɶɧɵɦɢ
ɤɚɦɟɪɚɦɢ
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ȼ ɪɟɠɢɦɟ ɠɢɜɨɝɨ ɩɪɨɫɦɨɬɪɚ/LYH9LHZɜɨɡɦɨɠɧɨ ɢɫɩɨɥɶɡɨɜɚɧɢɟ ɚɜɬɨɮɨɤɭɫɢɪɨɜɤɢ
ɟɫɥɢ ɤɚɦɟɪɚ ɧɚɯɨɞɢɬɫɹ ɜ ɪɟɠɢɦɟ ɚɜɬɨɮɨɤɭɫɢɪɨɜɤɢ ɩɨ ɦɟɬɨɞɭ ɤɨɧɬɪɚɫɬɧɨɣ
ɞɟɬɟɤɰɢɢ
ȻɅȿɇȾȺ
Ȼɥɟɧɞɚ ɛɚɣɨɧɟɬɧɨɝɨ ɬɢɩɚ ɩɨɫɬɚɜɥɹɟɬɫɹ ɜɦɟɫɬɟ ɫ ɨɛɴɟɤɬɢɜɨɦ Ȼɥɟɧɞɚ ɩɨɦɨɝɚɟɬ
ɩɪɟɞɨɬɜɪɚɬɢɬɶ ɡɚɫɜɟɬɤɭ ɢɥɢ ɛɥɢɤɢ ɧɚ ɫɧɢɦɤɟ ɜɵɡɜɚɧɧɵɟ ɹɪɤɢɦ ɨɫɜɟɳɟɧɢɟɦ ɡɚ
ɩɪɟɞɟɥɚɦɢ ɩɨɥɹ ɮɨɤɭɫɢɪɨɜɤɢ Ⱦɥɹ ɭɫɬɚɧɨɜɤɢ ɛɥɟɧɞɵ ɧɚɞɟɧɶɬɟ ɟɺ ɧɚ ɨɛɴɟɤɬɢɜ ɢ
ɩɨɜɟɪɧɢɬɟ ɩɨ ɱɚɫɨɜɨɣ ɫɬɪɟɥɤɟ ɩɨɤɚ ɨɧɚ ɧɟ ɨɫɬɚɧɨɜɢɬɫɹ ɚ ɡɚɬɟɦ ɡɚɤɪɭɬɢɬɟ ɜɢɧɬ
ɱɬɨɛɵ ɟɺ ɡɚɮɢɤɫɢɪɨɜɚɬɶɪɢɫ
Ŧɞɥɹ ɯɪɚɧɟɧɢɹ ɛɥɟɧɞɭ ɦɨɠɧɨ ɩɟɪɟɜɟɪɧɭɬɶ
ɇȺɉɅȿɑɇɕɃ ɊȿɆȿɇɖ
Ɂɚɤɪɟɩɢɬɟ ɧɚɩɥɟɱɧɵɣ ɪɟɦɟɧɶ ɬɚɤ ɤɚɤ ɩɨɤɚɡɚɧɨ ɧɚ ɢɥɥɸɫɬɪɚɰɢɢ
ɎɂɅɖɌɊɕ
Ŧ
ɉɪɢ ɫɴɺɦɤɟ ɦɨɠɧɨ ɢɫɩɨɥɶɡɨɜɚɬɶ ɬɨɥɶɤɨ ɨɞɢɧ ɮɢɥɶɬɪ ɂɫɩɨɥɶɡɨɜɚɧɢɟ ɞɜɭɯ ɢɥɢ
ɛɨɥɟɟ ɮɢɥɶɬɪɨɜ ɨɞɧɨɜɪɟɦɟɧɧɨ ɦɨɝɭɬ ɩɪɢɜɟɫɬɢ ɤ ɷɮɮɟɤɬɭ ɜɢɧɶɟɬɢɪɨɜɚɧɢɹ
Ŧɉɪɢ ɪɚɛɨɬɟ ɫ ɚɜɬɨɮɨɤɭɫɧɨɣ ɤɚɦɟɪɨɣ ɢɫɩɨɥɶɡɭɣɬɟ ɩɨɥɹɪɢɡɚɰɢɨɧɧɵɣ ɮɢɥɶɬɪ
ɰɢɪɤɭɥɹɪɧɨɝɨ ɬɢɩɚ
ɍɏɈȾ ɂ ɏɊȺɇȿɇɂȿ
Ŧɇɟ ɩɨɞɜɟɪɝɚɣɬɟ ɨɛɴɟɤɬɢɜ ɪɟɡɤɢɦ ɜɫɬɪɹɫɤɚɦ ɪɟɡɤɨɦɭ ɩɟɪɟɩɚɞɭ ɬɟɦɩɟɪɚɬɭɪ ɢ
ɜɨɡɞɟɣɫɬɜɢɸ ɩɨɜɵɲɟɧɧɨɣ ɜɥɚɠɧɨɫɬɢ
ŦȾɥɹ ɫɬɚɰɢɨɧɚɪɧɨɝɨ ɯɪɚɧɟɧɢɹ ɢɫɩɨɥɶɡɭɣɬɟ ɩɪɨɯɥɚɞɧɨɟ ɫɭɯɨɟ ɦɟɫɬɨ
ɩɪɟɞɩɨɱɬɢɬɟɥɶɧɨ ɫ ɯɨɪɨɲɟɣ ɜɟɧɬɢɥɹɰɢɟɣ ȼɨ ɢɡɛɟɠɚɧɢɟ ɩɨɜɪɟɠɞɟɧɢɹ
ɩɪɨɫɜɟɬɥɟɧɢɹ ɥɢɧɡ ɨɛɴɟɤɬɢɜɚ ɯɪɚɧɢɬɟ ɟɝɨ ɜɞɚɥɢ ɨɬ ɧɚɮɬɚɥɢɧɚ ɢ ɞɪ ɚɧɬɢɦɨɥɟɣ
Ŧɇɟ ɢɫɩɨɥɶɡɭɣɬɟ ɪɚɫɬɜɨɪɢɬɟɥɶ ɛɟɧɡɢɧ ɢ ɞɪɭɝɢɟ ɨɪɝɚɧɢɱɟɫɤɢɟ ɱɢɫɬɹɳɢɟ
ɜɟɳɟɫɬɜɚ ɱɬɨɛɵ ɨɱɢɫɬɢɬɶ ɥɢɧɡɨɜɵɟ ɷɥɟɦɟɧɬɵ ɂɫɩɨɥɶɡɭɣɬɟ ɦɹɝɤɭɸ ɜɥɚɠɧɭɸ
ɬɤɚɧɶ ɞɥɹ ɨɩɬɢɤɢ
ŦɈɛɴɟɤɬɢɜ ɧɟ ɜɨɞɨɧɟɩɪɨɧɢɰɚɟɦ ɉɪɢ ɢɫɩɨɥɶɡɨɜɚɧɢɢ ɨɛɴɟɤɬɢɜɚ ɜɛɥɢɡɢ ɜɨɞɵ
ɢɥɢ ɜɨ ɜɪɟɦɹ ɞɨɠɞɹ ɡɚɳɢɬɢɬɟ ɟɝɨ ɨɬ ɧɚɦɨɤɚɧɢɹ Ɉɛɵɱɧɨ ɩɨɜɪɟɠɞɟɧɢɹ
ɫɜɹɡɚɧɧɵɟ ɫ ɩɪɨɧɢɤɧɨɜɟɧɢɟɦ ɜɨɞɵ ɜ ɦɟɯɚɧɢɡɦɵ ɦɟɠɞɭ ɥɢɧɡ ɨɛɴɟɤɬɢɜɚ ɢ
ɨɤɢɫɥɟɧɢɹ ɪɟɦɨɧɬɭ ɧɟ ɩɨɞɥɟɠɚɬ
ŦɊɟɡɤɢɟ ɩɟɪɟɩɚɞɵ ɬɟɦɩɟɪɚɬɭɪ ɦɨɝɭɬ ɜɵɡɜɚɬɶ ɨɛɪɚɡɨɜɚɧɢɟ ɬɭɦɚɧɧɨɣ ɩɟɥɟɧɵ ɧɚ
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