Независимый финансовый советник - Выпуск 2

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ǵǭǯǨǪǰǹǰǴȃDZ ǼǰǵǨǵǹǶǪȃDZ ǹǶǪǭǺǵǰDz ǻDzǸǨǰǵǨ ǯȓȟȝșȎȠțȩȗ ȓȔȓȚȓȟȭȥțȩȗ ȔȡȞțȎș

ǰȉǽȁǿǸ Ɋ

ǿǼǰdzȀǼǰ Ȓșȭ ȐȎȦȓȑȜ ȏȖȕțȓȟȎ Ȑ ȑȜȒȡ ǿȠȞ 4

ȐȜȝȞȜȟȜȐ ȘȜȠȜȞȩȓ ȚȜȔȓȠ ȕȎȒȎȠȪ ȘȎȔȒȩȗ ȘșȖȓțȠ ǿȠȞ 5

ǸǮǸ ǰȉǯǾǮȀȊ ǯǮǻǸ ǸǼȀǼǾǼǺȁ ǺǼǴǻǼ DzǼǰdzǾǶȀȊ ǿǰǼǶ DzdzǻȊDZǶ" ǿȠȞ 6

ǴdzǻȇǶǻȉ-ǸǹǶdzǻȀȉ ǽdzǾǿǽdzǸȀǶǰȉ ǶǹǶ ǾǶǿǸ? ǿȠȞ 7

ȂǶǻǮǻǿǼǰȉǷ ǮǿǿǶǿȀdzǻȀ ǽȞȜȑȞȎȚȚȎ ȝȜ ȟȜȕȒȎțȖȬ ȖțȐȓȟȠȖȤȖȜțțȜȑȜ ȝșȎțȎ ȘșȖȓțȠȎ ǿȠȞ. 9


ǻȓȕȎȐȖȟȖȚȩȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘ ȁȘȞȎȖțȎ

ǿǼDzdzǾǴǮǻǶdz ǽȞȖȐȓȠȟȠȐȓțțȜȓ ȟșȜȐȜ ȞȓȒȎȘȠȜȞȎ………………………………………….......3 ǿǼǰdzȀǼǰ Ȓșȭ ȐȎȦȓȑȜ ȏȖȕțȓȟȎ Ȑ ȑȜȒȡ««««………………………4 ȐȜȝȞȜȟȜȐ ȘȜȠȜȞȩȓ ȚȜȔȓȠ ȕȎȒȎȠȪ ȘȎȔȒȩȗ ȘșȖȓțȠ ……………..…………5 ǸȎȘ ȐȩȏȞȎȠȪ ȏȎțȘ ȘȜȠȜȞȜȚȡ ȚȜȔțȜ ȒȜȐȓȞȖȠȪ ȟȐȜȖ ȒȓțȪȑȖ" 6 ǴȓțȧȖțȩ-ȘșȖȓțȠȩ - ȝȓȞȟȝȓȘȠȖȐȩ ȖșȖ ȞȖȟȘ" ««««««««7 ǽȞȜȑȞȎȚȚțȜȓ ȜȏȓȟȝȓȥȓțȖȓ ȜȠ Aston Financial Services…………………..9

2013 ŏ ȐȩȝȡȟȘ 2


ǻȓȕȎȐȖȟȖȚȩȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘ ȁȘȞȎȖțȎ

ǽȞȖȐȓȠȟȠȐȓțțȜȓ ȟșȜȐȜ ȞȓȒȎȘȠȜȞȎ DzȜȏȞȩȗ ȒȓțȪ ȡȐȎȔȎȓȚȩȓ ȥȖȠȎȠȓșȖ ǽȞȖȟȡȠȟȠȐȡȭ țȎ ȫȘȟȝȓȞȠțȜȚ ȢȜȞȡȚȓ ©ȁȘȞȎȖțȎ - ǽȞȜȑțȜȕª ȘȜȠȜȞȩȗ ȟȜȟȠȜȭșȟȭ ȢȓȐȞȎșȭ ȚȜȔțȜ ȟ ȭȟțȜȟȠȪȬ ȕȎȚȓȠȖȠȪ ȥȠȜ ȟȓȑȜȒțȭ țȖȘȠȜ Ȗȕ ȫȘȟȝȓȞȠȜȐ țȓ ȚȜȔȓȠ ȒȎȠȪ ȭȟțȜȑȜ Ȗ ȝȜțȭȠțȜȑȜ ȝȞȜȑțȜȕȎ ȒȐȖȔȓțȖȭ ȁȘȞȎȖțȩ Ȑ ȫȘȜțȜȚȖȥȓȟȘȜȚ Ȗ ȝȜșȖȠȖȥȓȟȘȜȚ ȝșȎțȓ țȎ ȑȜȒ ǼȒțȖ ȕȎȭȐșȭȬȠ ȥȠȜ ȡ țȎȟ Ȑȟȓ ȣȜȞȜȦȜ ȠȎȘ ȘȎȘ ȏȩș ȜȠȚȓȥȓț ȞȜȟȠ ǰǰǽ Ȑ ȑȜȒȡ Ȗ ǺȖțȖȟȠȓȞȟȠȐȜ ȂȖțȎțȟȜȐ ȡȟȝȓȦțȜ ȝȞȖȐșȓȘȎȓȠ ȝȜȒ ȑȜȟȡȒȎȞȟȠȐȓțțȩȓ ȑȎȞȎțȠȖȖ ȚȖșșȖȎȞȒȩ ȒȜșșȎȞȜȐ ǰ ȠȜ ȐȞȓȚȭ ȘȎȘ ȒȞȡȑȖȓ ȘȜțȟȠȎȠȖȞȡȬȠ ȟȘȞȩȠȜȓ țȓȒȜ ȐȜșȪȟȠȐȜ ȑȞȎȔȒȎț ©ȏȡțȠȜȐȟȘȜȓ țȎȟȠȞȜȓțȖȓª ȐțȡȠȞȖ ȟȠȞȎțȩ Ȗ ȜȏȧȖȗ ȝȓȟȟȖȚȖȟȠȖȥȓȟȘȖȗ ȝșȎț ȝȎȒȓțȖȭ ȫȘȜțȜȚȖȘȖ Ȑ ȑȜȒȡ ǸȎȘȜȐȎ Ȕȓ ȞȜșȪ ȢȖțȎțȟȜȐȩȣ ȟȜȐȓȠțȖȘȜȐ Ȑ ȠȎȘȖȣ ȜȏȟȠȜȭȠȓșȪ ȟȠȐȎȣ" DzȡȚȎȬ ȥȠȜ țȎȖȏȜșȓȓ ȐȎȔțȩȚ Ȑ ȒȎțțȩȣ ȜȏȟȠȜȭȠȓșȪȟȠȐȎȣ ȏȡȒȓȠ ȒȎȐȎȠȪ ȜȏȨȓȘȠȖȐțȡȬ ȜȤȓțȘȡ ȝȞȜȖȟȣȜȒȭȧȓȑȜ Ȑ ȟȠȞȎțȓ Ȗ ȚȖȞȓ Ȓșȭ ȘșȖȓțȠȜȐ țȓ ȝȞȓȡȐȓșȖȥȖȐȎȭ Ȗ țȓ țȓȒȜȜȤȓțȖȐȎȭ Ǽȟ țȜȐțȜȗ ȎȘȤȓțȠ ȫȠȜȑȜ ȑȜȒȎ ȭ ȝȜșȎȑȎȬ ȝȜ-ȝȞȓȔțȓȚȡ ȟȜȣȞȎțȖȠȪ ȠȜ ȥȠȜ ȖȚȓȓȦȪ ȟȓȑȜȒțȭ Ȗ ȡȒȓȞȔȎȠȪ ȝȜȕȖȤȖȖ ȟ ȠȜȥȘȖ ȕȞȓțȖȭ ȝȜșȡ ȥȓțȖȭ ȒȜȣȜȒȎ ȒȜ țȜȐȜȑȜ ȤȖȘșȎ ȞȜȟȠȎ ǰȟȓȚ ȔȓșȎȬ ȡȟȝȓȣȎ dzșȓțȎ ǯȜȘȎțȪ ȂȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘ AFS

Ǽ ȘȜȚȝȎțȖȖ

Aston Financial Services Aston Financial Services (AFS) – ȝȞȜȓȘȠ ȝȜ ȘȜțȟȡșȪȠȖȞȜȐȎ țȖȬ Ȑ ȟȢȓȞȓ șȖȥțȜȑȜ ȢȖ țȎțȟȜȐȜȑȜ ȝșȎțȖȞȜȐȎțȖȭ Ȗ ȖțȟȠȞȡȚȓțȠȎȚ ȖțȐȓȟȠȖȞȜȐȎ țȖȭ ǿ 2010 ȑȜȒȎ ȝȞȜȓȘȠ țȎȥȎș ȟȐȜȬ ȒȓȭȠȓșȪțȜȟȠȪ Ȑ ȁȘȞȎ Ȗțȓ ǵȎ ȝȜȟșȓȒțȖȓ 2 ȑȜȒȎ AFS ȟȠȞȓȚȖȠȓșȪțȜ ȡȐȓșȖȥȖș ȘȜ șȖȥȓȟȠȐȜ ȟȐȜȖȣ ȝȎȞȠțȓȞȜȐ Ȑ ȁȘȞȎȖțȓ Ȗ ȝȜ ȐȟȓȚȡ ȚȖȞȡ ǯșȎȑȜȒȎȞȭ țȎȦȖȚ ȝȎȞȠțȓ ȞȎȚ ȘȜȠȜȞȩȓ ȭȐșȭȬȠȟȭ ȝȞȜ ȢȓȟȟȖȜțȎșȎȚȖ Ȑ ȟȐȜȓȗ ȟȢȓȞȓ Țȩ ȝȞȓȒȜȟȠȎȐșȭȓȚ șȡȥȦȖȗ ȟȓȞȐȖȟ Ȓșȭ țȎȦȖȣ ǿȠȞ 3

ȘșȖȓțȠȜȐ Ȑ ȜȏșȎȟȠȖ ȞȎȕșȖȥ țȩȣ ȖțȐȓȟȠȖȤȖȜțțȩȣ ȝȞȜȒȡȘ ȠȜȐ private banking Ȓșȭ ȥȎȟȠ țȩȣ șȖȤ Ȗ ȖțȟȠȞȡȚȓțȠȜȐ țȎșȜȑȜȐȜȗ ȜȝȠȖȚȖȕȎȤȖȖ Ȓșȭ ȏȖȕțȓȟ-ȘșȖȓțȠȜȐ Ȑ ȁȘȞȎȖțȓ Ȗ ȕȎ ȝȞȓȒȓșȎȚȖ ȟȠȞȎțȩ AFS ȝȞȓȒȜȟȠȎȐșȭȓȠ ȘȜțȟȡșȪ ȠȎȤȖȖ țȎȥȖțȎȭ ȟ ȜȤȓțȘȖ ȢȖțȎțȟȜȐȩȣ ȐȜȕȚȜȔțȜȟȠȓȗ Ȗ Ȥȓșȓȗ ȘșȖȓțȠȎ ȞȎȕȞȎȏȜȠȘȖ șȖȥțȜȑȜ ȢȖțȎțȟȜȐȜȑȜ ȝșȎțȎ ȒȜ ȝȞȓȒȜȟȠȎȐșȓțȖȭ ȘȜȚ ȝșȓȘȟțȜȑȜ ȝȜȒȣȜȒȎ ȟ ȞȓȘȜ ȚȓțȒȡȓȚȩȚȖ ȖțȟȠȞȡȚȓțȠȎ ȚȖ Ȓșȭ ȖțȐȓȟȠȖȞȜȐȎțȖȭ ȘȜ ȠȜȞȩȓ ȝȜȒȏȖȞȎȬȠȟȭ ȖțȒȖȐȖ ȒȡȎșȪțȜ Ȓșȭ ȘȎȔȒȜȑȜ ȘșȖȓțȠȎ Ȗ ȟȜȝȞȜȐȜȔȒȓțȖȭ Ȑ ȞȓȎșȖȕȎ ȤȖȖ ȖțȐȓȟȠȖȤȖȜțțȜȗ ȟȠȞȎȠȓ ȑȖȖ.

AFS ȭȐșȭȓȠȟȭ ȝȞȜȢȓȟȟȖȜțȎ șȜȚ Ȑ ȟȢȓȞȓ șȖȥțȜȑȜ ȢȖ țȎțȟȜȐȜȑȜ ȝșȎțȖȞȜȐȎțȖȭ ȡȝȞȎȐșȓțȖȭ ȥȎȟȠțȩȚ ȘȎȝȖȠȎ șȜȚ ȝȞȖȐșȓȥȓțȖȭ ȘȎȝȖȠȎșȎ ȖțȐȓȟȠȖȤȖȗ Ȑ ȚȓȟȠțȡȬ Ȗ ȕȎ ȞȡȏȓȔțȡȬ țȓȒȐȖȔȖȚȜȟȠȪ ȝȞȓȒȜȟȠȎȐșȓțȖȭ ȝȜșțȜȑȜ ȟȝȓȘȠȞȎ ȟȠȞȎȣȜȐȩȣ ȝȞȜȒȡȘ ȠȜȐ țȎȘȜȝșȓțȖȭ ȘȎȝȖȠȎșȎ ȡȟșȡȑ family office, art- Ȗ wineinvestment ȡȝȞȎȐșȓțȖȭ ȖțȐȓ ȟȠȖȤȖȭȚȖ Ȗ life-style ȡȟșȡȑ

+38 (044) 537 18 19 www.astonfs.com

2013 ŏ ȐȩȝȡȟȘ 2


ǻȓȕȎȐȖȟȖȚȩȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘ ȁȘȞȎȖțȎ

ǿǼǰdzȀǼǰ Dzǹȍ ǰǮȆdzDZǼ ǯǶǵǻdzǿǮ ǰ DZǼDzȁ ȜȕțȎȘȜȚȪȠȓ Ȗȣ ȟȜ ȟȐȜȓȗ ȒȓȭȠȓșȪțȜȟȠȪȬ ȥȓȚ Ȑȩ ȕȎțȖȚȎȓȠȓȟȪ ȘȎȘ Ȑȩ ȜȏȟșȡȔȖȐȎȓȠȓ ȘșȖȓțȠȜȐ Ȗ Ƞ Ȓ ȅȓȚ ȘȜȚȢȜȞȠțȓȓ ȖȚ ȏȡȒȓȠ ȟ ȐȎȚȖ ȠȓȚ șȓȑ ȥȓ ȖȚ ȏȡȒȓȠ ȒȎșȓȓ ȐȎȟ ȞȓȘȜȚȓțȒȜȐȎȠȪ 5. ǿȓȠȪ ȡȟȝȓȣȎ. ǽȜȒȡȚȎȗȠȓ Ȝ ȟȜȕȒȎțȖȖ ȟȜȏȟȠȐȓțțȜȗ ȐȩȟȜȘȜ ȝȞȜȢȖșȪțȜȗ ȟȓȠȓȐȜȗ ȑȞȡȝȝȩ Ǹ țȓȗ ȜȠțȜȟȭȠȟȭ ȬȞȖȟȠ țȎșȜȑȜȐȩȗ ȟȝȓȤȖȎșȖȟȠ ȖțȐȓȟȠȖȤȖȜțțȩȗ ȚȓțȓȒȔȓȞ Ȑȩ ǾȓȑȡșȭȞțȜ ȐȟȠȞȓȥȎȗȠȓȟȪ ǿȜȟȞȓ ȒȜȠȜȥȪȠȓȟȪ țȎ ȠȜȚ ȘȎȘ Ȑȩ ȚȜȔȓȠȓ ȝȜȚȜȥȪ ȒȞȡȑ ȒȞȡȑȡ țȎ ȞȩțȘȓ ȟȜȠȞȡȒțȖȥȓȟȠȐȎ ȞȎȕȐȖȠȪ ȐȎȦ ȏȖȕ țȓȟ

ȑȜȒ ȕȎȘȜțȥȖșȟȭ Ȗ țȎ ȑȜȞȖȕȜțȠȓ ȡȔȓ ǶȚȓțțȜ ȟȓȗȥȎȟ ȚțȜȑȖȓ ȢȖțȎțȟȜȐȩȓ ȟȜȐȓȠțȖȘȖ ȕȎȒȡȚȩȐȎȬȠȟȭ ȘȎȘ ȏȩ ȖȚ ȝȜȒȑȜȠȜȐȖȠȪ ȟȜȏȟȠȐȓțțȩȗ ȏȖȕțȓȟ Ș ȝȞȓȒȟȠȜȭȧȓȚȡ ȑȜȒȡ ǰ ȫȠȜȗ ȟȠȎȠȪȓ ȝȞȓȒȟȠȎȐșȓțȩ ȟȜȐȓȠȜȐ Ȓșȭ ȢȖ țȎțȟȜȐȩȣ ȘȜțȟȡșȪȠȎțȠȜȐ ȘȎȘ ȖȚ șȡȥȦȓ ȐȜȗȠȖ Ȑ ȑȜȒ 1. ǽȞȜȎțȎșȖȕȖȞȡȗȠȓ ȥȠȜ Ȑ ȝȜșȡȥȖșȜȟȪ șȡȥȦȓ ȐȟȓȑȜ Ȗ ȟȢȜȘȡȟȖȞȡȗȠȓȟȪ țȎ ȠȜȚ ȥȠȜȏȩ ȝȜȐȠȜ ȞȖȠȪ ȡȟȝȓȣ ǰȩ țȓ ȚȜȔȓȠȓ ȞȎȟȟȥȖȠȩȐȎȠȪ țȎ ȡȟȝȓȣ Ȑ ȝȜ ȘȎ Ȑȩ ȥȓȠȘȜ țȓ ȞȎȕȜȏȞȎșȖȟȪ ȥȓȑȜ Ȑȩ ȒȜȏȖșȖȟȪ Ȑ ȝȞȜȦșȜȚ ȑȜȒȡ ǰȓȞțȖȠȓȟȪ țȓȚțȜȑȜ țȎȕȎȒ Ș ȠȜ Țȡ ȥȠȜ ȞȎȏȜȠȎșȜ ȞȎțȪȦȓ Ȗ ȝȜȒȡȚȎȗȠȓ ȘȎȘ Ȑȩ ȟȚȜȔȓȠȓ ȫȠȜ ȡșȡȥȦȖȠȪ 2. ǼȔȖȐȖȠȓ ȟȝȓȘȠȞ ȐȎȦȖȣ ȡȟșȡȑ ȀȩȟȭȥȖ ȟȜȐȓȠțȖȘȜȐ ȘȜțȘȡȞȖȞȡȬȠ ȕȎ ȒȜȟȠȜȗțȩȣ Ȗ ȝȜȒȎȬȧȖȣ țȎȒȓȔȒȩ ȘșȖȓțȠȜȐ ǽȓȞȓȜȤȓțȖȠȓ ȝȞȓȒșȎȑȎȓȚȩȓ ȡȟșȡȑȖ Ȗ ȟȜȟȞȓȒȜȠȜȥȪȠȓȟȪ țȎ ȠȜȚ ȥȠȜ ȒȓșȎȓȠ ȐȎȟ ȜȟȜȏȓțțȩȚȖ ȥȠȜȏȩ ȐȎȦ ȏȖȕțȓȟ ȜȟȠȎȐȎșȟȭ Ȑțȓ ȘȜțȘȡȞȓțȤȖȖ 3. ǼȏȜȕțȎȥȪȠȓ ȘȞȡȑ ȟȐȜȖȣ ȘșȖȓțȠȜȐ ǸȜȑȜ Ȑȩ ȐȖȒȖȠȓ Ȑ ȟȐȜȓȗ ©ȘțȖȑȓ ȏȖȕțȓȟȎª" ǿ ȘȓȚ Ȑȩ țȎ ȟȎȚȜȚ Ȓȓșȓ ȣȜȠȖȠȓ ȞȎȏȜȠȎȠȪ Ȑ ȘȎȥȓȟȠȐȓ ȘșȖȓțȠȎ" ǽȜȠȞȎȠȪȠȓ țȓȘȜȠȜȞȜȓ ȐȞȓȚȭ țȎ ȠȜ ȥȠȜ ȏȩ ȜȝȞȓȒȓșȖȠȪ ȠȖȝ șȬȒȓȗ ȟ ȘȜȠȜȞȩȚȖ Ȑȩ ȣȜȠȖȠȓ ȞȎȏȜȠȎȠȪ Ȑ ȘȎȥȓȟȠȐȓ ȘșȖȓțȠȜȐ Ȏ ȕȎȠȓȚ ȞȎȕȞȎȏȜ ȠȎȗȠȓ ȚȎȞȘȓȠȖțȑȜȐȩȗ ȝșȎț ȜȞȖȓțȠȖȞȜȐȎțțȩȗ ȥȓȠȘȜ țȎ țȖȣ 4. ǶȕȡȥȖȠȓ șȬȒȓȗ ȘȜȠȜȞȩȓ ȭȐșȭȬȠȟȭ ©ȜȟțȜȐțȩȚȖ ȤȓțȠȞȎȚȖ ȐșȖȭțȖȭª ǿȢȜȘȡȟȖȞȡȗȠȓȟȪ țȎ ȟȜȕȒȎțȖȖ ȒșȖȠȓșȪțȩȣ ȜȠ țȜȦȓțȖȗ ȟ ȜȒțȖȚ ȖșȖ ȒȐȡȚȭ ȠȎȘȖȚȖ șȬȒȪȚȖ ǻȎȗȒȖȠȓ Ȗȣ ȐȟȠȞȓȥȎȗȠȓȟȪ ȟ țȖȚȖ ȞȓȑȡșȭȞțȜ ǿȠȞ

6. ǼȠȟșȓȔȖȐȎȗȠȓ ȐȟȮ. ǼȠȟșȓȔȖȐȎȗȠȓ ȟȐȜȖ țȎȞȎȏȜȠȘȖ Ƞȓȣ ȘȜȑȜ ȐȎȚ Ȟȓ ȘȜȚȓțȒȜȐȎșȖ ȕȐȜțȘȖ ȜȠȟșȓȔȖȐȎȗȠȓ ȐȟȮ ǰȩ ȒȜșȔțȩ ȏȩȠȪ Ȑ ȘȡȞȟȓ ȠȜȑȜ ȟ ȥȓȚ Ȑȩ ȞȎȏȜȠȎȓȠȓ Ȑȟȓ ȐȞȓȚȭ ȝȞȖȡȥȖȠȪ ȟȓȏȭ Ș ȜȠȥȓȠȎȚ ȠȜșȪȘȜ ȠȎȘ ȝȜșȡȥȖȠȟȭ ȞȎȏȜȠȎȠȪ Ȑ țȎȝȞȎȐșȓțȖȖ ȒȜȟȠȖȔȓțȖȭ ȟȜȏȟȠȐȓțțȩȣ Ȥȓșȓȗ 7. ǿȜȝȞȜȐȜȔȒȎȗȠȓ ȘșȖȓțȠȜȐ ǻȓ ȖȕȜȏȞȓȠȎȗȠȓ ȕȎțȜȐȜ ȘȜșȓȟȜ ǿșȓȒȡȗȠȓ Ȝȏȩȥ țȜȚȡ ȝȞȜȤȓȟȟȡ ȡȟȝȓȦțȜȑȜ ȜȏȟșȡȔȖȐȎțȖȭ ȐȎȦȖȣ țȜȐȩȣ ȘșȖȓțȠȜȐ ȥȠȜȏȩ ȡȏȓȒȖȠȪȟȭ ȥȠȜ ȜțȖ ȜȟȠȎ țȡȠȟȭ țȎȒȜșȑȜ Ȗ ȏȡȒȡȠ ȐȓȞțȩ ȠȜșȪȘȜ ȐȎȚ 8. ǿȓȞȐȖȟ ȟ ȡșȩȏȘȜȗ. ǾȓȎșȖȕȡȗȠȓ ȟȓȞȐȖȟțȡȬ ȚȜȒȓșȪ ȠȎȘ ȥȠȜȏȩ ȡȏȓ ȒȖȠȪȟȭ ȥȠȜ Ȑȟȓ ȘșȖȓțȠȩ ȜȏȟșȡȔȖȐȎȬȠȟȭ ȟȝȞȎȐȓȒ șȖȐȜ ǽȜȚțȖȠȓ ȥȠȜ țȓ Ȑȟȓ ȘșȖȓțȠȩ țȡȔȒȎȬȠȟȭ Ȑ ȜȒȖțȎȘȜȐȜȚ ȟȓȞȐȖȟȓ ǮȐȠȜȚȎȠȖȕȖȞȡȗȠȓ ȐȎȦȡ ȚȜȒȓșȪ ȜȏȟșȡȔȖȐȎțȖȭ Ȑ CRM ȟȖȟȠȓȚȓ ǽȜȚțȖȠȓ ȥȓȚ ȏȜșȪȦȓ ȘȜțȠȎȘȠȎ ȡ ȐȎȟ ȟ ȘșȖȓțȠȎȚȖ ȠȓȚ ȏȜșȓȓ ȒȜȐȜșȪțȩȚȖ ȏȡȒȡȠ ȜțȖ ȥȠȜ ȝȞȖȐȓȒȓȠ Ș ȞȜ ȟȠȡ ȎȘȠȖȐȜȐ Ȗ țȜȐȩȚ ȞȓȘȜȚȓțȒȎȤȖȭȚ ȟ Ȗȣ ȟȠȜ ȞȜțȩ 9. ǰȟȠȞȓȥȖ. ǾȓȑȡșȭȞțȜ ȐȟȠȞȓȥȎȗȠȓȟȪ ȋȠȜ țȓ ȖȚȓȓȠ ȕțȎȥȓțȖȭ ȓȟșȖ Ȑȩ ȭȐșȭȓȠȓȟȪ ȥȎȟȠȪȬ ȘȜȚȎțȒȩ ȖșȖ ȜȒȖț Ȑȓ ȒȓȠȓ ȏȖȕțȓȟ ǰȐȓȒȖȠȓ ȝȞȖȐȩȥȘȡ ȞȓȑȡșȭȞțȩȣ ȓȔȓ țȓȒȓșȪțȩȣ ȐȟȠȞȓȥ Ȑȟȓȣ ȥșȓțȜȐ ȘȜȚȎțȒȩ Ȗ ȓȔȓ ȒțȓȐțȩȓ ȚȖțȡȠțȩȓ ȟȜȐȓȧȎțȖȭ Ȓșȭ ȠȜȑȜ ȥȠȜȏȩ ȡȏȓȒȖȠȪȟȭ ȥȠȜȏȩ Ȑȟȓ ȖȒȓȠ ȝȜ ȝșȎțȡ 10. ǼȏȜȕțȎȥȪȠȓ ȟȞȜȘȖ. ǸȎȘ ȠȜșȪȘȜ Ȑȩ ȥȓȠȘȜ ȜȝȞȓȒȓșȖȠȓ ȘȎȘȖȓ ȟȠȞȎȠȓȑȖ ȥȓȟȘȖȓ ȒȓȗȟȠȐȖȭ Ȑȩ ȟȜȏȖȞȎȓȠȓȟȪ ȟȒȓșȎȠȪ Ȑ ȑȜȒȡ ȕȎȢȖȘȟȖȞȡȗȠȓ Ȗ ȜȏȜȕțȎȥȪȠȓ Ȗȣ țȎ ȘȎșȓț ȒȎȞȓ Ȓșȭ ȠȜȑȜ ȥȠȜȏȩ ȡȏȓȒȖȠȪȟȭ ȥȠȜ Ȑȩ ȥȓȠȘȜ ȕțȎ ȓȠȓ ȥȠȜ Ȑȩ ȟȜȏȖȞȎȓȠȓȟȪ ȒȓșȎȠȪ Ȗ ȘȜȑȒȎ ȝȜ ȚȎȠȓȞȖȎșȎȚ )LQDQFLDO 3ODQQLQJ $VVRFLDWLRQ

2013 ŏ ȐȩȝȡȟȘ 2


ǻȓȕȎȐȖȟȖȚȩȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘ ȁȘȞȎȖțȎ

ǰǼǽǾǼǿǼǰ ǸǼȀǼǾȉdz ǺǼǴdzȀ ǵǮDzǮȀȊ ǸǮǴDzȉǷ ǸǹǶdzǻȀ Ȗ ȟȜȐȓȠțȖȘȖ ȒȜșȔțȩ ȏȩȠȪ Ș țȖȚ ȑȜȠȜȐȩ

ȐȜȝȞȜȟȜȐ Ș ȘȜȠȜȞȩȚ ȘȎȔȒȩȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠ țȖȘ ȒȜșȔȓț ȏȩȠȪ ȑȜȠȜȐ ǽȓȞȓȒ ȠȓȚ ȘȎȘ ȐȩȏȞȎȠȪ ȟȜȐȓȠțȖȘȎ ȘȎȔȒȩȗ ȘșȖȓțȠ ȚȜȔȓȠ ȕȎȒȎȠȪ ȐȎȔțȩȣ ȐȜȝȞȜȟȜȐ ȡȐȓȞȓț ȐȓȒȡȧȖȗ ȎȚȓȞȖȘȎțȟȘȖȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘ 1. ǸȎȘȜȗ ȡ ȐȎȟ ȡȞȜȐȓțȪ ȎȘȘȞȓȒȖȠȎȤȖȖ" DZȓțȓȞȎșȪțȩȗ ȒȖȞȓȘȠȜȞ ȜȒțȜȗ Ȗȕ ȘȞȡȝțȓȗȦȖȣ ȘȜȚȝȎțȖȗ Ȑ ȟȢȓȞȓ ȢȖțȎțȟȜȐȜȑȜ ȘȜțȟȎșȠȖțȑȎ ȡȠȐȓȞȔȒȎȓȠ ȥȠȜ ȘȜțȓȥțȜ ȎȘȘȞȓȒȖȠȎȤȖȭ ȫȠȜ ȜȝȞȓȒȓșȭȬȧȖȗ ȢȎȘȠȜȞ țȜ țȓ ȓȒȖțȟȠȐȓțțȩȗ ǿȎȚȜȓ ȑșȎȐțȜȓ ȥȠȜ Ȑȩ ȒȜșȔțȩ ȒȓȚȜțȟȠȞȖȞȜ ȐȎȠȪ Ȑ ȝȜșțȜȗ ȚȓȞȓ ȫȠȜ ȝȜțȖȚȎțȖȓ ȠȓȘȡȧȓȗ ȟȖ ȠȡȎȤȖȖ ȘșȖȓțȠȎ ȓȑȜ ȟȠȞȓȚșȓțȖȭ Ȗ ȝȜȠȞȓȏțȜȟȠȖ Ȑ ȏȡȒȡȧȓȚ Ȗ ȥȠȜ Ȑȩ ȚȜȔȓȠȓ ȥȓȠȘȜ ȟȢȜȞȚȡșȖȞȜ ȐȎȠȪ ȟȝȜȟȜȏ ȘȎȘ ȘșȖȓțȠ ȚȜȔȓȠ ȒȜȟȠȖȥȪ ȟȐȜȓȗ ȤȓșȖ dzȟșȖ ȞȓȥȪ ȖȒȓȠ Ȝ ȟșȡȥȎȓ ȘȜȑȒȎ ȜțȖ ȟȎȚȖ țȓ ȡȐȓȞȓțțȩ ȏȡȒȪȠȓ țȎȥȓȘȡ ȟ ȑȜȠȜȐȩȚ ȞȓȎșȖ ȟȠȖȥțȩȚ ȟȤȓțȎȞȖȓȚ ȝȞȖ ȘȜȠȜȞȜȚ Ȗȣ ȜȔȖȒȎȓȠ ȡȟȝȓȣ 2. ǸȎȘȖȓ ȘțȖȑȖ Ȑȩ ȥȖȠȎșȖ Ȑ ȫȠȜȗ ȟȢȓȞȓ" ǿȞȓȒȖ ȚțȜȔȓȟȠȐȎ ȘțȖȑ ȝȜ ȒȎțțȜȗ ȠȓȚȎȠȖȘȓ țȎȖȏȜșȓȓ ȐȎȔțȩȚȖ ȭȐșȭȬȠȟȭ ǾȜȏȓȞȠ ǸȖȗȜȟȎȘȖ ©ǯȜȑȎȠȩȗ ǽȎȝȎ ǯȓȒțȩȗ ǽȎȝȎª ǰșȎȒȖȚȖȞ ǿȎȐȓțȜȘ ©ǹȖȥțȩȓ ȢȖțȎțȟȩª ȁȖșȪȭȚ Ȃ ȆȎȞȝ DZȜȞȒȜț DzȔ ǮșȓȘȟȎțȒȓȞ DzȔȓȢȢȞȖ ǰ ǯȫȗșȖ ©ǶțȐȓȟȠȖȤȖȖª 3. ǸȎȘȖȓ ȠȞȓțȖțȑȖ Ȗ ȖșȖ ȘȡȞȟȩ ȝȜ ȝȞȜȢȓȟȟȖȜ țȎșȪțȜȗ ȝȜȒȑȜȠȜȐȘȓ ǰȩ ȝȞȜȦșȖ" ȋȘȟȝȓȞȠȩ ȑȜȐȜȞȭȠ ©ǰȩ ȒȜșȔțȩ ȜȟȠȎȐȎȠȪȟȭ Ȑ ȘȡȞ ȟȓ țȎșȜȑȜȐȩȣ ȖȕȚȓțȓțȖȗ Ȑ ȒȜȝȜșțȓțȖȓ Ș ȖȕȚȓ țȓțȖȭȚ ȔȖȕțȓțțȩȣ ȠȞȓțȒȜȐ ȘșȖȓțȠȜȐ Ȗ ȏȩȠȪ ȑȜ ȠȜȐȩȚ ȏȩȟȠȞȜ ȞȓȎȑȖȞȜȐȎȠȪ țȎ ȖȕȚȓțȓțȖȓ ȟȖȠȡ ȎȤȖȖ ȝȜȟȓȠȖȐ ȘȡȞȟȩ ȝȜ ȠȓȚȎȠȖȘȓ ǰȎȔțȜ ȜȠȟșȓ ȔȖȐȎȠȪ ȚȖȞȜȐȩȓ ȠȓțȒȓțȤȖȖ Ȑ ȢȖțȎțȟȜȐȜȚ ȝșȎ țȖȞȜȐȎțȖȖ ȘȜȠȜȞȩȓ ȝȡȏșȖȘȡȬȠȟȭ Ȓșȭ ȐȟȓȜȏȧȓȑȜ ȐțȖȚȎțȖȭ

©ǸȜȑȒȎ ȐȎȚ ȝȜȘȎȔȓȠȟȭ ȥȠȜ ȤȓșȪ țȓȒȜ ȟȠȖȔȖȚȎ țȓ ȖȕȚȓțȭȗȠȓ ȤȓșȪ – ȖȕȚȓțȭȗ Ƞȓ ȟȐȜȗ ȝșȎț ȒȓȗȟȠȐȖȗª ǸȜțȢȡȤȖȗ

4. ǻȎȟȘȜșȪȘȜ Ȑȩ ȜȟȐȓȒȜȚșȓțȩ Ȑ ȘșȬȥȓȐȩȣ țȎșȜ ȑȜȐȩȣ ȕȎȘȜțȎȣ" dzșȓțȎ ǯȜȘȎțȪ Ȗȕ ǮFS ȡȠȐȓȞȔȒȎȓȠ ©ȂȖțȎțȟȜȐȩȓ ȟȜȐȓȠțȖȘȖ ȥȎȟȠȜ țȓ ȕțȎȬȠ Ȝ ȝȞȜȖȟȣȜȒȭȧȖȣ țȎșȜȑȜȐȩȣ ȖȕȚȓțȓțȖȭȣ - Ȗȕ-ȕȎ ȠȜȑȜ ȥȠȜ ȘșȖȓțȠȩ ȚȜȑȡȠ ȞȓȒȘȜ ȠȞȓȏȜȐȎȠȪ ȜȠ țȖȣ ȠȎȘȜȗ ȖțȢȜȞ ȚȎȤȖȖ dzȟșȖ Ȑȩ ȟȜȚțȓȐȎȓȠȓȟȪ Ȑ ȟȐȜȓȗ ȜȟȐȓ ȒȜȚșȓțțȜȟȠȖ ȝȜȒȝȖȦȖȠȓȟȪ țȎ ȎȐȠȜȚȎȠȖȥȓ ȟȘȡȬ ȞȎȟȟȩșȘȡ Ȝ țȎșȜȑȜȐȩȣ ȜȏțȜȐșȓțȖȭȣ țȎ șȬȏȜȚ ȒȜȟȠȡȝțȜȚ ǶțȠȓȞțȓȠ-ȞȓȟȡȞȟȓ ȖȕȡȥȖȠȓ ȝȜȟșȓȒțȬȬ ȞȓȒȎȘȤȖȬ țȎșȜȑȜȐȜȑȜ ȘȜȒȓȘȟȎ http://www.sts.gov.ua/nk/ ǰ ȘȞȎȗțȓȚ ȟșȡȥȎȓ ȜȏȕȎȐȓȒȖȠȓȟȪ ȝȎȞȠțȓȞȜȚ ȟȝȓȤȖȎșȖȕȎȤȖȭ ȘȜ ȠȜȞȜȑȜ – țȎșȜȑȖ Ȗ șȪȑȜȠȩª 5. ǸȎȘ ȏȩ Ȑȩ ȜȠȟșȓȔȖȐȎșȖ ȚȜȗ ȝșȎț Ȗ ȜȠȘȡȒȎ ȭ ȏȡȒȡ ȕțȎȠȪ ȘȜȑȒȎ țȡȔțȜ ȓȑȜ ȜȏțȜȐșȭȠȪ" ǰȓȒȡȧȖȓ ȢȖțȎțȟȜȐȩȓ ȫȘȟȝȓȞȠȩ ȑȜȐȜȞȭȠ ©ǻȎ ȘȎȔȒȜȗ ȜȏȕȜȞțȜȗ ȐȟȠȞȓȥȓ ȟ țȎȦȖȚȖ ȘșȖȓț ȠȎȚȖ Țȩ ȜȏȟȡȔȒȎȓȚ Ȗ ȝșȎțȖȞȡȓȚ ȞȎȕșȖȥțȩȓ ȟȝȜȟȜȏȩ ȜȏțȜȐșȓțȖȭ ȒȜȘȡȚȓțȠȜȐ dzȟșȖ ȝȞȜ ȖȟȣȜȒȭȠ ȘȎȘȖȓ-ȠȜ ȖȕȚȓțȓțȖȭ Ȑ ȟȓȚȪȓ ȝȜ ȠȖȝȡ ȟȚȓȞȠȖ ȥșȓțȎ ȟȓȚȪȖ ȞȎȕȐȜȒȎ ȖșȖ ȝȞȖȜȏȞȓ ȠȓțȖȓ țȜȐȩȣ ȎȘȠȖȐȜȐ ȘȜșȖȥȓȟȠȐȜ ȐȜȕȚȜȔțȩȣ ȜȏțȜȐșȓțȖȗ ȘȎȘ ȝȞȎȐȖșȜ ȜȑȞȎțȖȥȖȐȎȬȠȟȭ ȜȝȞȓȒȓșȓțțȩȚȖ ȟȜȏȩȠȖȭȚȖ Ȑ ȔȖȕțȖ ȘșȖȓțȠȎª 6. ǸȎȘ ȞȎȟȟȥȖȠȎȠȪ ȟȘȜșȪȘȜ Ȓȓțȓȑ Țțȓ țȡȔțȜ ȒȜ ȘȜțȤȎ ȚȜȖȣ Ȓțȓȗ" dzșȓțȎ ǯȜȘȎțȪ ȑȜȐȜȞȖȠ ´Dzșȭ ȜȝȞȓȒȓșȓțȖȭ ȘȜ țȓȥțȜȗ ȟȡȚȚȩ țȓȜȏȣȜȒȖȚȜȗ Ȓșȭ Ȝȏȓȟȝȓȥȓ țȖȭ ȘșȖȓțȠȎ ȘȎȝȖȠȎșȜȚ ȒȜ ȘȜțȤȎ ȔȖȕțȖ ȞȎȟ ȥȓȠ ȝȞȜȖȕȐȜȒȖȠȟȭ ȜȠ ȜȏȞȎȠțȜȑȜ - ȕțȎȭ ȘȎȘȡȬ ȟȡȚȚȡ țȓȜȏȣȜȒȖȚȜ ȖȚȓȠȪ ȘșȖȓțȠȡ ȓȔȓȚȓȟȭȥ țȜ ȚȜȔțȜ ȞȎȟȟȥȖȠȎȠȪ ȜȏȧȖȗ ȘȎȝȖȠȎș ȘȜȠȜ Ȟȩȗ ȏȡȒȓȠ ȖȟȠȜȥțȖȘȜȚ ȓȑȜ ȝȎȟȟȖȐțȜȑȜ ȒȜȣȜȒȎ Ȑ ȏȡȒȡȧȓȚª *ȝȜ ȚȎȠȓȞȖȎșȎȚ $)6

ǿȠȞ

2013 ŏ ȐȩȝȡȟȘ 2


ǻȓȕȎȐȖȟȖȚȩȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘ ȁȘȞȎȖțȎ

ǸǮǸ ǰȉǯǾǮȀȊ ǯǮǻǸ ǸǼȀǼǾǼǺȁ ǺǼǴǻǼ DzǼǰdzǾǶȀȊ ǿǰǼǶ DzdzǻȊDZǶ? DZșȎȐțȜȓ ȥȠȜ ȝȞȖțȤȖȝȖȎșȪțȜ ȟȠȜȖȠ ȜȠȚȓȠȖȠȪ ȥȠȜ ȘȞȡȦȓțȖȭ ȏȎțȘȜȐȟȘȜȗ ȟȖȟȠȓȚȩ ȖșȖ ȟȖȟȠȓȚțȩȣ ȝȞȜȏșȓȚ ȖȚȓȐȦȖȣ ȚȓȟȠȜ Ȑ ȝȓȞȖȜȒ ȘȞȖȕȖȟȎ ȑȜȒȜȐ ȏȜȭȠȪȟȭ țȓ ȟȠȜȖȠ ǻȜ Ȗ Ȑ ȡȟȝȓȦțȩȓ ȑȜȒȩ (2005— ȝȜȭȐșȭșȖȟȪ ȝȞȜȏșȓȚțȩȓ ȏȎțȘȖȏȎțȘȞȜȠȩ ǽȜȫȠȜȚȡ ȐȩȏȖȞȎȭ ȏȎțȘ Ȓșȭ ȒȓȝȜȕȖȠȎ ȜȏȭȕȎȠȓșȪțȜ ȟȜȏȓȞȖȠȓ țȎ țȓȑȜ ȒȜȟȪȓ ǻȓȟȘȜșȪȘȜ ȝȞȜȟȠȩȣ ȞȓȘȜȚȓțȒȎȤȖȗ ȝȜȕȐȜșȭȠ ǰȎȚ ȟȝȎȠȪ ȟȝȜȘȜȗțȜ 1. ǼȤȓțȖȠȓ ȢȖțȎțȟȜȐȩȓ ȝȜȘȎȕȎȠȓșȖ ȏȎțȘȎ ǵȎȗȒȖȠȓ țȎ ȟȎȗȠ ȏȎț ȘȎ Ȗ ȟȞȎȐțȖȠȓ ȓȑȜ ȝȞȖȏȩșȪ ȜȏȨȓȚ ȎȘ ȠȖȐȜȐ Ȗ ȐȘșȎȒȜȐ țȎ ȒȎțțȩȗ ȚȜȚȓțȠ Ȗ ȝȞȓȒȩȒȡȧȖȓ ȝȓȞȖȜ Ȓȩ ǽȜșȜȔȖȠȓșȪțȜ ȣȎȞȎȘȠȓȞȖȕȡȬȠ ȏȎțȘ ȟȠȎȏȖșȪțȩȗ ȞȜȟȠ ȎȘ ȠȖȐȜȐ Ȗ ȝȞȖȏȩșȪțȜȟȠȪ țȎ ȝȞȜȠȭȔȓțȖȖ ȝȜ ȟșȓȒțȖȣ ȘȎȘ ȚȖțȖ ȚȡȚ — ȚȓȟȭȤȓȐ ǼȒțȎȘȜ ȐȎȔȓț țȓ ȠȜșȪȘȜ ȞȎȕȚȓȞ ȎȘȠȖ ȐȜȐ țȜ Ȗ Ȗȣ ȘȎȥȓȟȠȐȜ ǿȎȚȩȚȖ ©ȘȎȥȓȟȠȐȓț țȩȚȖª ȟȥȖȠȎȬȠȟȭ ȒȓțȪȑȖ ȏȎțȘȎ țȎ ȓȑȜ ȟȥȓȠȎȣ Ȗ Ȑ ȘȎȟȟȓ ȝșȬȟ ȑȜȟȡȒȎȞȟȠȐȓțțȩȓ Ȥȓțțȩȓ ȏȡȚȎ ȑȖ Ƕȣ ȚȜȔțȜ Ȑ șȬȏȜȗ ȚȜȚȓțȠ ȜȏȚȓțȭȠȪ țȎ țȎșȖȥțȩȓ ȒȓțȪȑȖ Ȓșȭ ȞȎȟȥȓȠȜȐ ȟ ȐȘșȎȒȥȖȘȎȚȖ ©ǻȜ ȓȟșȖ Ȑ ȟȠȞȡȘȠȡȞȓ ȎȘȠȖȐȜȐ ȜȥȓțȪ ȏȜșȪȦȡȬ ȥȎȟȠȪ ȕȎțȖȚȎȬȠ ȐȩȒȎțțȩȓ ȘȞȓȒȖȠȩ Ȗ Ȗȣ ȜȏȧȎȭ ȟȡȚȚȎ ȕțȎȥȖȠȓșȪțȜ ȝȞȓȐȩȦȎȓȠ ȞȎȕȚȓȞ ȟȜȏ ȟȠȐȓțțȩȣ ȞȓȟȡȞȟȜȐ Ȗ ȝȞȖȐșȓȥȓțțȩȣ ȒȓȝȜȕȖȠȜȐ — țȎșȖȤȜ ȝȞȖȕțȎȘ țȓȐȩȟȜȘȜȗ ȟȠȎȏȖșȪțȜȟȠȖ ȏȎțȘȎ 2. ǼȤȓțȖȠȓ ȒȓȝȜȕȖȠțȩȓ ȟȠȎȐȘȖ ȃȜȠȭ ȐȩȟȜȘȖȓ ȟȠȎȐȘȖ țȓ ȜȏȭȕȎȠȓșȪțȜ ȑȜȐȜȞȭȠ Ȝ ȝȞȜȏșȓȚȎȣ ȏȎțȘȎ ǰȓȒȪ ȜȟȓțȪȬ ȟȠȎȐȘȖ ȠȞȎȒȖ ȤȖȜțțȜ ȞȎȟȠȡȠ ȀȎȘȔȓ ȐȎȔțȜ ȕțȎȠȪ ȥȠȜ ȐȩȟȜȘȖȓ ȟȠȎȐȘȖ ȚȜȔȓȠ ȝȞȓȒșȜȔȖȠȪ ȏȎțȘ ȘȜȠȜȞȩȗ ȐȩȒȎ ȓȠ ȒȜȞȜȑȖȓ ȝȜȠȞȓȏȘȞȓȒȖȠȩ țȎ ȏȩȠȜȐȡȬ ȠȓȣțȖ Șȡ ȚȜȏȖșȪțȖȘȖ Ȗ Ƞ ȝ ȀȎȘ ȥȠȜ ȒȜȞȜȑȖȣ ȒȓȝȜȕȖ ȠȜȐ ȟȠȜȖȠ ȏȜȭȠȪȟȭ ȓȟșȖ ȏȎțȘ ȝȞȜȖȑȞȩȐȎȓȠ Ȗ ȝȜ ȒȞȡȑȖȚ ȝȜȘȎȕȎȠȓșȭȚ țȎȒȓȔțȜȟȠȖ

3. ǼȤȓțȖȠȓ ȖȟȠȜȞȖȬ ȏȎțȘȎ ǰȩȭȟțȖȠȓ ȘȎȘ ȏȎțȘ ȝȓȞȓȔȖș ȘȞȖȕȖȟ — 2008 ȑȑ ǻȎȗȒȖȠȓ țȎ ȢȜȞȡȚȎȣ ȜȠȕȩȐȩ ȐȘșȎȒȥȖ ȘȜȐ ȏȩșȖ șȖ ȝȓȞȓȏȜȖ ȟ ȐȩȝșȎȠȜȗ ȒȓȝȜȕȖȠȜȐ ǽȞȜȐȓȞȪȠȓ ȞȓȑȡșȭȞțȜ șȖ ȏȎțȘ ȟȜȜȏȧȎȓȠ ȝȜȘȎ ȕȎȠȓșȖ ȒȓȭȠȓșȪțȜȟȠȖ 4. ǿȜȏȓȞȖȠȓ ȖțȢȜȞȚȎȤȖȬ Ȝ ȐșȎȒȓșȪȤȎȣ ȏȎțȘȎ ȁȕțȎȗȠȓ ȘȜȚȡ ȝȞȖțȎȒșȓȔȖȠ ȏȎțȘ ȫȠȜ ȠȎȘȔȓ ȚȜȔțȜ ȟȒȓșȎȠȪ țȎ ȟȎȗȠȓ www.bank.gov.ua ǰȜ ȐȞȓȚȭ ȘȞȖȕȖȟȎ ȡȟȠȜȭșȖ ȏȎțȘȖ ȝȞȖțȎȒșȓȔȎ ȧȖȓ ȑȜȟȡȒȎȞȟȠȐȡ ȖțȜȟȠȞȎțȤȎȚ ȖșȖ ȘȞȡȝțȩȚ ȢȖțȎțȟȜȐȜȝȞȜȚȩȦșȓțțȩȚ ȑȞȡȝ ȝȎȚ ȁȕțȎȗȠȓ Ȗ Ȟȓȝȡ ȠȎȤȖȬ ȞȡȘȜȐȜȒȖȠȓșȭ ȏȎțȘȎ dzȟșȖ Ȝț ©ȜȠșȖ ȥȖșȟȭª ȠȓȚ ȥȠȜ ȝȞȖȐȓș ȘȎȘȜȗ-ȠȜ ȏȎțȘ Ș ȢȖȎ ȟȘȜ ȠȜ ȕȎȒȡȚȎȗȠȓȟȪ ȟȠȜȖȠ șȖ țȓȟȠȖ ȒȓțȪȑȖ ȓȑȜ țȜȐȜȚȡ ©ȝȜȒȜȝȓȥ țȜȚȡª. 5. ǽȞȜȐȓȞȪȠȓ ȞȓȗȠȖțȑ ȏȎțȘȎ ǺȜȔțȜ ȝȞȜȐȓȞȖȠȪ Ȗ ȞȓȗȠȖțȑ ȏȎțȘȎ țȎ ȟȎȗȠȎȣ ȞȓȗȠȖțȑȜȐȩȣ ȎȑȓțȠȟȠȐ ǺȓȔȒȡțȎȞȜȒțȩȓ moodys.ru, fitchratings.ru, standardandpoors.ru, țȎȦȖ credit-rating.com.ua, expert-rating.com. dzȟșȖ ȜȒȖț ȏȎțȘ ȝȜșȡȥȎȓȠ ȞȓȗȠȖțȑȖ țȓȟȘȜșȪȘȖȣ ȎȑȓțȠȟȠȐ ȐȎȔțȜ ȥȠȜȏȩ ȜȤȓțȘȖ ȏȜșȓȓ-Țȓțȓȓ ȟȜȐȝȎȒȎșȖ ǼȒțȎȘȜ țȎȒȜ ȡȥȓȟȠȪ ȥȠȜ ȞȓȗȠȖțȑȖ ȏȎțȘȜȐ ȕȎȐȖȟȭȠ ȜȠ ȞȓȗȠȖțȑȎ ȟȠȞȎțȩ ȝȜȫȠȜȚȡ țȓ ȐȟȓȑȒȎ ȚȜȑȡȠ ȝȜȘȎȕȎȠȪ ȟȖȠȡȎȤȖȬ ȜȏȨȓȘȠȖȐțȜ Ǹ ȝȞȖȚȓȞȡ Moody`s ȝȞȖȟȐȜȖșȜ ȁȘȞȎȖțȓ ȞȓȗȠȖțȑ ǰ ȟ ȐȩȟȜȘȖȚ ȘȞȓȒȖȠțȩȚ ȞȖȟȘȜȚ ȀȜ ȓȟȠȪ ȝȜ ȫȠȜȚȡ ȞȓȗȠȖțȑȡ ȒȎȔȓ ȡ ȜȥȓțȪ ȟȠȎȏȖșȪțȜȑȜ ȏȎț ȘȎ ȚȜȔȓȠ ȏȩȠȪ ȝșȜȣȜȗ ȝȜȘȎȕȎȠȓșȪ ǽȜșȡȥȖȐ ȖțȢȜȞȚȎȤȖȬ ȝȜ ȐȩȦȓȝȓȞȓȥȖȟșȓțțȩȚ ȝȡțȘȠȎȚ ȐȎȚ ȟȞȎȕȡ ȟȠȎțȓȠ ȝȜțȭȠțȜ țȎ ȘȎȘȖȣ ȏȎț ȘȎȣ ȚȜȔțȜ ȜȟȠȎțȜȐȖȠȪ ȟȐȜȗ ȐȩȏȜȞ ǽȞȜȤȐȓȠȎțȖȭ ǰȎȚ Ǽșȓȑ ǮțȡȢȞȖȓȐ ǻȓȕȎȐȖȟȖȚȩȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘ

ǿȠȞ

2013 ŏ ȐȩȝȡȟȘ 2


ǻȓȕȎȐȖȟȖȚȩȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘ ȁȘȞȎȖțȎ

ǴȓțȧȖțȩ-ȘșȖȓțȠȩ - ȝȓȞȟȝȓȘȠȖȐȩ ȖșȖ ȞȖȟȘ" ǰ țȎȟȠȜȭȧȓȓ ȐȞȓȚȭ ȔȓțȧȖțȩ ȟȠȎțȜȐȭȠȟȭ ȏȜȑȎȥȓ Ȗ ȏȡȒȡȠ ȘȜțȠȞȜșȖȞȜȐȎȠȪ ȏȜșȪȦȓ ȘȎȝȖ ȠȎșȎ Ȑ ȏșȖȔȎȗȦȖȓ ȑȜȒȩ ǽȜ ȫȠȜȚȡ ȔȓțȧȖțȩ-ȘșȖȓțȠȩ ȭȐ șȭȬȠȟȭ ȟȓȑȜȒțȭ ȐȎȔțȜȗ ȘșȖ ȓțȠȟȘȜȗ ȏȎȕȜȗ Ȓșȭ ȢȖțȎțȟȜ Ȑȩȣ ȟȜȐȓȠțȖȘȜȐ ȋȠȜ ȚȜȔȓȠ ȝȜȟșȡȔȖȠȪ țȓȝȞȖ ȭȠțȜȗ țȜȐȜȟȠȪȬ Ȓșȭ ȟȜȐȓȠțȖ ȘȜȐ ȘȎȘ ȚȡȔȥȖț ȠȎȘ Ȗ Ȕȓț ȧȖț ȘȜȠȜȞȩȓ țȓ ȕțȎȬȠ ȝȜȒ ȣȜȒ Ș ȔȓțȧȖțȎȚ-ȘșȖȓțȠȎȚ ǿȠȎȠȖȟȠȖȘȎ ȝȜȘȎȕȩȐȎȓȠ ȥȠȜ ȜȘȜșȜ ȔȓțȧȖț-ȘșȖȓțȠȜȐ ȡȐȜșȭȠ ȟȐȜȓȑȜ ȟȜȐȓȠțȖȘȎ Ȑ Ƞȓ ȥȓțȖȓ ȚȓȟȭȤȓȐ ȝȜȟșȓ ȡȣȜ ȒȎ Ȗȣ ȐȠȜȞȜȗ ȝȜșȜȐȖțȩ ǽȞȓȒ ȟȠȎȐȖȠȓșȪ ȟȢȓȞȩ ȢȖțȎțȟȜ ȐȜȑȜ ȘȜțȟȎșȠȖțȑȎ Ȑ ǮȚȓȞȖȘȓ ȑȜȐȜȞȖȠ ȥȠȜ ȫȠȜ ȜȑȞȜȚțȩȓ ȐȜȕȚȜȔțȜȟȠȖ Ȓșȭ ȢȖȞȚ ȘȜ ȠȜȞȩȓ ȜȟȜȕțȎȬȠ ȞȜșȪ ȔȓțȧȖț Ȗ ȫȠȜ ȜȑȞȜȚțȩȗ ȞȖȟȘ Ȓșȭ Ƞȓȣ ȘȠȜ țȎȜȏȜȞȜȠ ǶȟȝȜșȪȕȡȭ ȟȐȜȖ ȟȜȏȟȠȐȓțțȩȓ ȖȟȟșȓȒȜȐȎțȖȭ ȝȞȓȒȜȟȠȎȐȖȐ ȫȘȟȝȓȞȠțȩȓ ȒȎțțȩȓ Ȗ ȜȠȐȓȠȩ

Ȗȕ ȖțȠȓȞȐȪȬ ȟ ȜȘȜșȜ ȟȜȐȓȠ țȖȘȎȚȖ Ȑ ǮȚȓȞȖȘȓ ȡȥȓțțȩȓ ȡȔȓ ȞȎȕȞȎȏȜȠȎșȖ ȝȜȟȜȏȖȓ Ȓșȭ ȘȜțȟȡșȪȠȎțȠȜȐ ȝȜ ȝȞȖȐșȓ ȥȓțȖȬ ȔȓțȧȖț-ȘșȖȓțȠȜȐ ȁȟȝȓȦțȩȓ ȫȘȟȝȓȞȠȩ Ȑ ȞȎȏȜȠȓ ȟ ȔȓțȧȖțȎȚȖ-ȘșȖȓțȠȎȚȖ ȕȎ ȭȐșȭȬȠ ȥȠȜ ȓȟȠȪ ȞȭȒ ȜȟțȜȐțȩȣ țȓȐȞȜșȜȑȖȥȓȟȘȖȣ Ȗ ȘȡșȪȠȡȞțȩȣ ȞȎȕșȖȥȖȗ ȚȓȔȒȡ ȚȡȔȥȖțȎȚȖ Ȗ ȔȓțȧȖțȎȚȖ ǰ ȠȜ ȐȞȓȚȭ ȘȎȘ ȞȎȕțȖȤȎ ȚȓȔȒȡ ȚȡȔȟȘȖȚ Ȗ ȔȓțȟȘȖȚ ȚȜȕȑȜȚ ȟȜȟȠȎȐșȭȓȠ ȠȜșȪȘȜ ȟȡȧȓȟȠȐȡȬȠ ȕțȎȥȖ ȠȓșȪțȩȓ ȞȎȕșȖȥȖȭ ȚȓȔȒȡ ȚȡȔ ȟȘȖȚȖ Ȗ ȔȓțȟȘȖȚȖ ȟȝȜȟȜȏȎ ȚȖ ȘȜȚȚȡțȖȘȎȤȖȖ

ȫȠȜ ȐȜ ȐțȖȚȎțȖȓ ȟȜȐȓȠțȖȘȖ ȐȜ ȐȞȓȚȭ ȐȟȠȞȓȥ ȒȜșȔțȩ ȝȞȓȒȜȟȠȎȐșȭȠȪ ȔȓțȧȖțȎȚȘșȖȓțȠȎȚ ȐȜȕȚȜȔțȜȟȠȪ ȞȎȟ ȟȘȎȕȩȐȎȠȪ Ȝ ȟȓȏȓ ȑȜȐȜȞȖȠȪ Ȝ ȟȐȜȖȣ ȥȡȐȟȠȐȎȣ Ȗ ȝȜȚȜȑȎȠȪ ȖȚ ȝȜȥȡȐȟȠȐȜȐȎȠȪ ȟȓȏȭ țȡȔțȩȚȖ Ȑ ȝȞȜȤȓȟȟȓ ȝȞȖțȭȠȖȭ ȞȓȦȓțȖȗ ǰ ȠȜ ȐȞȓȚȭ ȘȎȘ ȚțȜȑȖȓ ȟȥȖȠȎ ȬȠ ȥȠȜ ȑȓțȒȓȞțȩȓ ȞȎȕșȖȥȖȭ ȠȓȚȎ țȓ ȎȘȠȡȎșȪțȎȭ ȠȜȠ ȢȎȘȠ ȥȠȜ ȫȠȜȠ ȐȜȝȞȜȟ ȝȜȒțȖȚȎȓȠȟȭ ȐȟȮ ȥȎȧȓ ȒȓȚȜțȟȠȞȖȞȡȓȠ ȝȓȞȓȚȓțȩ Ȑ ȖțȒȡȟȠȞȖȖ

ǴȓțȧȖțȩ ȝȜșȡȥȎȬȠ ȜȑȞȜȚțȜȓ ȡȒȜȐȜșȪȟȠȐȖȓ ȜȠ ȜȏȟȡȔȒȓțȖȭ ȒȓȠȎșȓȗ Ȗ ȝȜȒȞȜȏțȜȟȠȓȗ Ȑ ȠȜ ȐȞȓȚȭ ȘȎȘ ȚȡȔȥȖțȩ ȒȓșȭȠȟȭ ȠȜșȪȘȜ ȑșȎȐțȩȚȖ ȟȜȏȩȠȖȭȚȖ

ǺțȜȑȖȓ ȘȜțȟȡșȪȠȎțȠȩ ȚȜȑȡȠ ȟȘȎȕȎȠȪ ȥȠȜ ȜțȖ ȕȎȘȞȩȐȎȬȠ ȑșȎȕȎ țȎ ȑȓțȒȓȞțȩȓ ȞȎȕșȖȥȖȭ ȘșȖȓțȠȜȐ Ȗ ȥȠȜ ȜțȖ ȐȜȟȝȞȖțȖ ȚȎȬȠ Ȑȟȓȣ Ȗȣ ȜȒȖțȎȘȜȐȜ țȜ ȝȞȖȦșȜ ȐȞȓȚȭ ȝȞȖȕțȎȠȪ ȟȡ ȧȓȟȠȐȜȐȎțȖȓ ȠȎȘȖȣ ȞȎȕșȖȥȖȗ Ȗ ȜȏȞȎȠȖȠȪ țȎ țȖȣ ȐțȖȚȎțȖȓ

ǴȓțȧȖțȩ ȖȚȓȬȠ țȓȐȞȜșȜȑȖ ȥȓȟȘȖȓ ȝȜȠȞȓȏțȜȟȠȖ Ȑ ȘȜȚȚȡ țȖȘȎȤȖȖ ȜțȖ ȖȚȓȬȠ ȏȜșȪȦȖȗ ȐȓȞȏȎșȪțȩȗ ȒȜȟȠȡȝ Ș ȫȚȜȤȖ ȭȚ Ȗ ȟȝȜȟȜȏțȩ ȐȖȒȓȠȪ ȐȟȬ ȘȎȞȠȖțȡ Ȑ ȤȓșȜȚ ǽȞȖțȖȚȎȭ

ǺțȜȑȖȓ ȘȜțȟȡșȪȠȎțȠȩ ȚȜȑȡȠ ȡșȡȥȦȖȠȪ ȝȜȘȎȕȎȠȓșȖ ȟȐȜȓȑȜ ȏȖȕțȓȟȎ ȒȎȔȓ țȎȥȎȐ ȟ ȖȕȚȓ țȓțȖȭ ȟȝȜȟȜȏȎ ȜȏȧȓțȖȭ ȟ ȟȡȧȓȟȠȐȡȬȧȖȚȖ Ȗ țȜȐȩȚȖ ȘșȖȓțȠȎȚȖ ǿȜȐȓȠțȖȘȎȚ ȠȎȘȔȓ ȟșȓȒȡȓȠ ȝȜȚȜȥȪ ȘșȖȓțȠȎȚ ȞȎȕȐȖȠȪ ȫȠȖ țȎȐȩȘȖ ȡ ȥșȓțȜȐ Ȗȣ ȘȜȚȎțȒ ǰ ȠȜ ȐȞȓȚȭ ȘȎȘ ȔȓțȧȖțȎ ȭȐșȭ ȓȠȟȭ ȝȓȞȐȜȗ ȑȞȡȝȝȜȗ ȘșȖȓțȠȜȐ ȝȞȖ ȞȎȏȜȠȓ ȟ ȘȜȠȜȞȜȗ țȡȔțȜ ȖȟȝȜșȪȕȜȐȎȠȪ ȒȞȡȑȖȓ țȎȐȩȘȖ ȚȜȔțȜ ȝȞȓȒșȜȔȖȠȪ ȟȜȐȓȠțȖ ȘȎȚ ȠȎȘȔȓ ȜȏȞȎȠȖȠȪ ȐțȖȚȎ țȖȓ țȎ ȟșȓȒȡȬȧȡȬ ȑȞȡȝȝȡ ȘȜȠȜȞȎȭ ȕȎȟșȡȔȖȐȎȓȠ ȐțȖȚȎ țȖȭ ȠȎȘ țȎȕȩȐȎȓȚȎȭ ȑȞȡȝȝȎ ©ȘșȖȓțȠȩ țȜȐȜȑȜ ȝȜȘȜșȓțȖȭª *ȝȜ ȚȎȠȓȞȖȎșȎȚ Financial Planning Association

ǿȠȞ

2013 ŏ ȐȩȝȡȟȘ 2


ǻȓȕȎȐȖȟȖȚȩȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘ ȁȘȞȎȖțȎ

ǿ DzțȓȚ ȟȐȭȠȜȑȜ ǰȎșȓțȠȖțȎ ǵȎ ȝȜȟșȓȒțȖȓ ȑȜȒȩ Ȑ ȁȘȞȎȖțȓ ȝȞȖȜȏȞȓșȎ ȏȜșȪ ȦȡȬ ȝȜȝȡșȭȞțȜȟȠȪ ȝȞȖȦȓȒȦȎȭ Ȗȕ dzȐȞȜȝȩ ȠȞȎȒȖ ȤȖȭ ȝȞȎȕȒțȜȐȎțȖȭ Dzțȭ Ȑȟȓȣ ȐșȬȏșȓțțȩȣ Ƕȕ ȑȜȒȎ Ȑ ȑȜȒ ȝȜ ȐȟȓȚȡ ȚȖȞȡ ȢȓȐȞȎșȭ ȚțȜȔȓȟȠȐȜ șȬȒȓȗ ȟȠȎȞȎȬȠȟȭ ȐȟȭȥȓȟȘȖ ȝȞȜȒȓȚȜțȟȠȞȖȞȜȐȎȠȪ ȟȐȜȬ șȬȏȜȐȪ Ȗ ȕȎȏȜȠȡ ȝȜȒȑȜȠȜȐȖȠȪ ȝȜȒȎȞȘȖ ȟȒȓșȎȠȪ ȫȠȜȠ ȒȓțȪ țȓȕȎȏȩȐȎȓȚȩȚ Ȓșȭ ȟȐȜȓȗ ȐȠȜȞȜȗ ȝȜșȜ ȐȖțȘȖ ǻȓ ȭȐșȭȓȚȟȭ ȖȟȘșȬȥȓțȖȓȚ Ȗ Țȩ ȔȡȞțȎș ©ǻȓȕȎ ȐȖȟȖȚȩȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘ ȁȘȞȎȖțȎª

ǯȡȒȪȠȓ ȐțȖȚȎȠȓșȪțȩ Ș șȬȏȖȚȩȚ șȬȒȭȚ ȟȓȑȜȒțȭ Ȗ ȕȎȏȜȠȪȠȓȟȪ Ȝ ȐȎȦȓȚ ȟȜȐȚȓȟȠțȜȚ ȏȡȒȡȧȓȚ ȄȓțȖȠȓ Ȗ ȏȓȞȓȑȖȠȓ ȒȞȡȑ ȒȞȡȑȎ ǿ ȝȞȎȕȒțȖȘȜȚ

Ǻȩ ȣȜȠȓșȖ ȏȩ ȝȜȕȒȞȎȐȖȠȪ ȐȎȟ ȒȜȞȜȑȖȓ țȎȦȖ ȥȖ ȠȎȠȓșȖ ȟ ȫȠȖȚ ȟȐȓȠșȩȚ Ȗ țȓȔțȩȚ ȝȞȎȕȒțȖȘȜȚ Ȗ ȝȜȔȓșȎȠȪ ȐȎȚ șȬȏȐȖ ȐȕȎȖȚȜȝȜțȖȚȎțȖȭ Ȗ ȑȎȞ ȚȜțȖȖ ǰȓȒȪ șȖȥțȜȓ ȏșȎȑȜȝȜșȡȥȖȓ Ȗ ȏșȎȑȜȝȜșȡ ȥȖȓ ȟȓȚȪȖ – ȫȠȜ ȠȜ Ș ȥȓȚȡ Ȑȟȓ ȠȎȘ ȟȠȞȓȚȭȠȟȭ țȜ ȠȎȘ țȓ ȤȓțȭȠ ȜȏȞȓȠȎȭ

DzȜȞȜȑȖȓ ȥȖȠȎȠȓșȖ ǽȞȓȒșȎȑȎȓȚ ǰȎȦȓȚȡ ȐțȖȚȎțȖȬ ȎțȜțȟ ȘȡȞȟȎ

©ǻdzǵǮǰǶǿǶǺȉǷ ȂǶǻǮǻǿǼǰȉǷ ǿǼǰdzȀǻǶǸª ǰ ȎȝȞȓșȓ ȑȜȒȎ Ȑ ȘȜȚȝȎțȖȖ ǮFS ȟȠȎȞȠȡȓȠ țȜȐȩȗ ȘȡȞȟ ´ǻȓȕȎȐȖȟȖȚȩȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘµ Ȓșȭ Ƞȓȣ ȘȠȜ ȣȜȥȓȠ ȝȜ șȡȥȖȠȪ ȕțȎțȖȭ Ȑ ȜȏșȎȟȠȖ ȢȖțȎțȟȜȐȜȑȜ ȝșȎțȖȞȜȐȎțȖȭ Ȗ ȟȠȎȠȪ ȟȝȓȤȖȎșȖȟȠȎȚȖ Ȑ ȫȠȜȗ ȟȢȓȞȓ, Ƞ ȓ ȢȖțȎțȟȜȐȩȚȖ ȘȜțȟȡșȪ ȠȎțȠȎȚȖ Ȗ ȟȜȐȓȠțȖȘȎȚȖ ǸȡȞȟ ȏȡȒȓȠ ȟȜȟȠȜȭȠȪ Ȗȕ ȠȓȜȞȓȠȖȥȓȟȘȖȣ Ȗ ȝȞȎȘȠȖȥȓȟȘȖȣ ȕȎțȭ ȠȖȗ ȝȜ ȟșȓȒȡȬȧȖȚ ȠȓȚȎȚ 1. ǹȖȥțȜȓ ȢȖțȎțȟȜȐȜȓ ȝșȎțȖȞȜȐȎțȖȓ 2. ǿȠȞȎȣȜȐȎțȖȓ 3. ǶțȐȓȟȠȖȤȖȖ Ȗ ȢȜțȒȜȐȩȗ ȞȩțȜȘ 4. ǯȎțȘȖ Ȗ ȏȎțȘȜȐȟȘȖȓ ȝȞȜȒȡȘȠȩ 5. ǽȜȟȠȞȜȓțȖȓ ȝȞȜȒȎȔ 6. ǸȜȒȓȘȟ Ȗ ȫȠȖȘȓȠ ȢȖțȎțȟȜȐȜȑȜ ȟȜȐȓȠțȖȘȎ ǸȡȞȟ ȐȓȒȡȠ ȝȞȎȘȠȖȘȖ ȥȓȗ ȜȝȩȠ ȏȡȒȓȠ ȏȓȟȤȓțȓț Ȓșȭ Ƞȓȣ ȘȠȜ ȣȜȥȓȠ ȒȜȏȖȠȪȟȭ ȡȟȝȓȣȎ Ȑ ȫȠȜȗ ȟȢȓȞȓ

ǰ ȟșȓȒȡȬȧȓȚ ȐȩȝȡȟȘȓ x ȘȎȘ ȑȎȞȎțȠȖȞȜȐȎțȜ ȝȜșȡȥȖȠȪ ȞȓȘȜȚȓțȒȎ ȤȖȬ ȜȠ ȘșȖȓțȠȎ" x ȘȎȘ ȟȝȜȟȜȏȟȠȐȜȐȎȠȪ ȞȎȕȐȖȠȖȬ ȢȖțȎțȟȜ ȐȜȗ ȡȐȓȞȓțțȜȟȠȖ ȡ ȔȓțȧȖț-ȘșȖȓțȠȜȐ" x ǺțȜȔȓȟȠȐȜ ȖțȠȓȞȓȟ țȩȣ ȢȎȘȠȜȐ Ȝ ȟȢȓȞȓ

ǽȞȖȟȩșȎȗȠȓ ȐȎȦȖ ȕȎȭȐȘȖ Ȗ ȒȜȝȜșțȖȠȓșȪțȩȓ ȐȜȝȞȜȟȩ țȎ e.bokan@astonfs.com.ua.

șȖȥțȜȑȜ ȢȖțȎțȟȜȐȜ

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ȚțȜȑȜȓ ȒȞȡȑȜȓ

ǿȠȞ

ȑȜ ȘȜțȟȎșȠȖțȑȎ Ȗ

2013 ŏ ȐȩȝȡȟȘ 2


ǻȓȕȎȐȖȟȖȚȩȗ ȢȖțȎțȟȜȐȩȗ ȟȜȐȓȠțȖȘ ȁȘȞȎȖțȎ

ǽǾǼDZǾǮǺǺǻǼdz ǼǯdzǿǽdzȅdzǻǶdz ǼȀ ASTON FINANCIAL SERVICES ȂǶǻǮǻǿǼǰȉǷ ǮǿǿǶǿȀdzǻȀ - ȝȞȜȑȞȎȚȚȎ Ȓșȭ țȓȕȎȐȖȟȖȚȩȣ ȢȖțȎțȟȜȐȩȣ ȟȜȐȓȠțȖȘȜȐ ȝȜ ȟȜȕȒȎțȖȬ ȖțȐȓȟȠȖȤȖȜțțȜȑȜ ȢȖțȎțȟȜȐȜȑȜ ȝșȎțȎ ȘșȖȓțȠȎ Ȗ ȜȤȓțȘȓ ȓȑȜ ȢȖțȎțȟȜȐȩȣ ȞȖȟȘȜȐ! x x x x x DzȓȗȟȠȐȡȓȠ ȝȞȜȑȞȓȟȟȖȐțȎȭ ȦȘȎșȎ ȟȘȖȒȜȘ ȝȞȖ ȝȎȞȠțȓȞȟȘȖȣ ȝȞȜȒȎȔȎȣ ǼȏȞȎȧȎȗȠȓȟȪ! aleksandra.afs@gmail.com

x x

ǽȞȜȑȞȎȚȚȎ ȝȜȕȐȜșȭȓȠ: ȟȜȕȒȎȐȎȠȪ țȓȜȑȞȎțȖȥȓțțȜȓ ȘȜșȖȥȓȟȠȐȜ Ȗț ȐȓȟȠȖȤȖȗ ȜȠȟșȓȔȖȐȎȠȪ țȎȘȜȝșȓțȖȭ ȝȜ ȖțȐȓȟȠȖȤȖȭȚ Ȑ ȞȎȕșȖȥțȩȓ ȝȓȞȖȜȒȩ ȥȓȞȓȕ ȑȜȒ șȓȠ șȓȠ Ȗ Ƞ Ȓ ȐȓȟȠȖ ȡȥȓȠ ȖțȐȓȟȠȖȤȖȗ Ȗ ȒȜȣȜȒȜȐ ȞȎȟȣȜȒȜȐ ȜȒțȜȐȞȓȚȓțțȜ Ȑ ȞȎȕșȖȥțȩȣ ȐȎșȬȠȎȣ ȚȖȞȎ ȞȎȟȟȥȖȠȩȐȎȓȠ ȝȎȟȟȖȐțȩȗ ȒȜȣȜȒ ȟ ȡȥȓȠȜȚ țȎșȜȑȜȐ Ȗ ȖțȢșȭȤȖȖ ȢȜȞȚȖȞȡȓȠ ȞȎȕșȖȥțȩȓ ȟȠȞȎȠȓȑȖȖ ȖțȐȓ ȟȠȖȞȜȐȎțȖȭ Ȗ ȝȜȘȎȕȩȐȎȓȠ ȘȜțȓȥțȩȗ ȘȎȝȖ ȠȎș ȕȎ ȚȖț Ȑ ȠȓȥȓțȖȖ ȘȜțȟȡșȪȠȎȤȖȖ ȝȜȕȐȜșȭȓȠ ȐțȜȟȖȠȪ țȓȜȑȞȎțȖȥȓțțȩȓ ȖȕȚȓțȓțȖȭ ȟȠȞȜȖȠ ȑȞȎȢȖȘȖ Ȓșȭ ȝȞȓȒȜȟȠȎȐșȓțȖȭ ȎțȎ șȖȠȖȥȓȟȘȖȣ ȜȠȥȓȠȜȐ ȘșȖȓțȠȡ

ǼȠȝȞȎȐȠȓ ȕȎȭȐȘȡ țȎ ǯdzǿǽǹǮȀǻȁȌ ȒȓȚȜ-ȐȓȞȟȖȬ

ASTON FINANCIAL SERVICES ȡș. ȌȞȖȭ ǸȜȤȬȏȖțȟȘȜȑȜ Ȓ.14, ȜȢ.4, ǸȖȓȐ ȁȘȞȎȖțȎ

ȃȜȠȖȠȓ ȝȜșȡȥȎȠȪ ȘȎȔȒȩȗ ȐȩȝȡȟȘ ȔȡȞțȎșȎ ȠȜȥțȜ Ȑ ȟȞȜȘ"

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DzȜȐȓȞȖȓ Ȗ șȜ ȭșȪțȜȟȠȪ ȘșȖ ȓțȠȜȐ – ȕȎșȜȑ ȡȟȝȓȣȎ ȘȎȔȒȜ ȑȜ ȢȖțȎțȟȜȐȜ ȑȜ ȟȜȐȓȠțȖȘȎ

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ǿȠȞ

2013 ŏ ȐȩȝȡȟȘ 2


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