два года фсфр: успехии провалы

96
ÇõïéÑçéâ ÑÖçú
èÄÇÖã äÄêÄìãéÇ,
ÛÔapple‡‚Îfl˛˘ËÈ Ô‡appleÚÌÂapple „appleÛÔÔ˚
ÍÓÏÔ‡ÌËÈ Divizion:
– èÓÒΠˆÛ̇ÏË ‚ û„Ó-ÇÓÒÚÓ˜ÌÓÈ
ÄÁËË ‚ ÍÓ̈ 2004 „Ó‰‡ ÏÌÓ„Ë β-
‰Ë ·ÓflÎËÒ¸ ÔÓÒ¢‡Ú¸ Á‰Â¯ÌË ÚÛappleË-
ÒÚ˘ÂÒÍË ÍÛappleÓappleÚ˚. èÓÒÚapple‡‰‡‚¯ËÂ
ÒÚapple‡Ì˚ ÔÓÚÂappleÔÂÎË ÏÌÓ„ÓÏËÎÎËÓÌ-
Ì˚ ۷˚ÚÍË. çÓ, Í‡Í Ó͇Á‡ÎÓÒ¸, ‚ÒÂ
‰ÓÒÚ‡ÚÓ˜ÌÓ ·˚ÒÚappleÓ Ôapple˯ÎÓ ‚ ÌÓapple-
ÏÛ, Ë í‡Ë·̉ Ú‡Í Ë ÓÒÚ‡ÎÒfl Á‡ÚÂappleflÌ-
Ì˚Ï apple‡ÂÏ, Ì ÒÏ˚Ú˚Ï ÏÓappleÂÏ. èÓÒÂ-
˘ÂÌË ˝ÚÓÈ ÒÚapple‡Ì˚ ÓÒÚ‡‚ËÎÓ Ò‡Ï˚Â
ÔappleËflÚÌ˚ ‚Ô˜‡ÚÎÂÌËfl: ÔappleÂÍapple‡Ò-
ÌÓÂ, Ó˜Â̸ ÚÂÔÎÓ ÏÓappleÂ, ÔappleË‚ÂÚÎË-
‚˚ β‰Ë, ‰ÓÒÚ‡ÚÓ˜ÌÓ ‚ÍÛÒ̇fl
ÍÛıÌfl. ÑÛχ˛, ÚÂ, ÍÚÓ ÔÓ·˚‚‡Î ‚
·˚‚¯ÂÏ ÍÓappleÓ΂ÒÚ‚Â ëË‡Ï Ë ÓÔappleÓ-
·Ó‚‡Î ̇ Ò· Á̇ÏÂÌËÚ˚È Ú‡ÈÒÍËÈ
χÒÒ‡Ê, ÛÊ ÌËÍÓ„‰‡ ˝ÚÓ„Ó Ì Á‡·Û-
‰ÛÚ. Ç Ó·˘ÂÏ, ÔÛÚ¯ÂÒÚ‚Ë ËÁ ÁËÏ˚
‚ ÎÂÚÓ ‚ ÍÓ̈ Ù‚apple‡Îfl – ÓÚ΢̇fl
ˉÂfl. í‡Í ÛÊ ÔÓÎÛ˜ËÎÓÒ¸, ˜ÚÓ ˜ÂappleÂÁ
̉Âβ ÔÓÒΠ‚ÓÁ‚apple‡˘ÂÌËfl ËÁ ÄÁËË
ÏÌ Ôapple˯ÎÓÒ¸ ÔÓÂı‡Ú¸ ‚ ÉÂappleχÌ˲
̇ ËÁ‚ÂÒÚÌÛ˛ ÚÂÎÂÍÓÏÏÛÌË͇ˆËÓÌ-
ÌÛ˛ ‚˚ÒÚ‡‚ÍÛ. èÓÒΠÒÓÎ̘ÌÓ„Ó
í‡Ë·̉‡ Ë̉ÛÒÚappleˇθÌ˚È É‡ÌÌÓ-
‚Âapple ÔÓ͇Á‡ÎÒfl Á‡ÌÛ‰Ì˚Ï Ë ÒÎ˯-
ÍÓÏ ÛÊ ÓÙˈËÓÁÌ˚Ï. ÉÂÓÏÂÚapple˘Â-
ÒÍË ‚˚‚ÂappleÂÌ̇fl ‡appleıËÚÂÍÚÛapple‡ ̇‚Ë-
‚‡Î‡ ÒÍÛÍÛ. óËÒÚÓ, ÓÔappleflÚÌÓ,
ÚÓÒÍÎË‚Ó – Òڇ̉‡appleÚÌ˚È Ì‡·Óapple ÓÔapple‰ÂÎÂÌËÈ
‰Îfl Òapple‰ÌÂÒÚ‡ÚËÒÚ˘Â-
ÒÍÓ„Ó Â‚appleÓÔÂÈÒÍÓ„Ó „ÓappleÓ‰‡. Ö‰ËÌ-
ÒÚ‚ÂÌÌÓÂ, apple‡‰Ë ˜Â„Ó Ò˛‰‡ ÏÓÊÌÓ
ÔappleËÂı‡Ú¸, – ‚ÍÛÒ ÌÂψÍÓ„Ó ÔË‚‡,
ÒÂÍappleÂÚ ËÁ„ÓÚÓ‚ÎÂÌËfl ÍÓÚÓappleÓ„Ó ÔÂapple‰‡ÂÚÒfl
ËÁ ÔÓÍÓÎÂÌËfl ‚ ÔÓÍÓÎÂÌËÂ
ÛÊÂ ÏÌÓ„Ó ÒÚÓÎÂÚËÈ.
éíÑõï
ëÚÓÎÔ˚ Ó·˘ÂÒÚ‚‡
èappleÓÂÍÚ. Ç ÉÓÒÛ‰‡appleÒÚ‚ÂÌÌÓÏ ˆÂÌÚapple ÒÓ‚appleÂÏÂÌ-
ÌÓ„Ó ËÒÍÛÒÒÚ‚‡ (Éñëà) ÒÓÒÚÓËÚÒfl ÌÂÓ·˚˜Ì‡fl
‚˚ÒÚ‡‚͇. Ç Ú˜ÂÌË ‰‚Ûı ‚˜ÂappleÓ‚ ÔÛ·ÎËÍÂ
‚ ͇˜ÂÒÚ‚Â ‡appleÚ-Ó·˙ÂÍÚÓ‚ ·Û‰ÛÚ ‰ÂÏÓÌÒÚappleËappleÓ-
‚‡Ú¸ ÏẨÊÂappleÓ‚.
Ç ÚÓÏ, ˜ÚÓ ÊË‚˚ β‰Ë ÏÓ„ÛÚ ·˚Ú¸ ËÌÚÂappleÂÒÌ ӷ˙ÂÍ-
ÚÓ‚, ̇·appleÓÒ‡ÌÌ˚ı Íapple‡Ò͇ÏË ËÎË Á‡·ÂÚÓÌËappleÓ‚‡ÌÌ˚ı
‚ Ïapple‡ÏÓappleÂ, ‰Ó„‡‰‡ÎËÒ¸ Ì ‚ÔÂapple‚˚Â. Ç ·ÛappleÌ˚ 60-Â
Ëڇθfl̈ è¸ÂÚappleÓ å‡ÌˆÓÌË ÔappleÓ‰ÂÏÓÌÒÚappleËappleÓ‚‡Î «ÇÓÎ-
¯Â·Ì˚È Ô¸Â‰ÂÒڇλ, ̇ ÍÓÚÓappleÓÏ ·˚ÎË Ó·ÓÁ̇˜ÂÌ˚ ÒÎÂ-
‰˚ – ˜ÂÎÓ‚ÂÍ ÒÚÛÔËÚ Ì‡ ÌËı Ë Ì‡ Ô‡appleÛ ÒÂÍÛ̉ ÒÚ‡ÌÓ‚ËÚÒfl
ÔappleÓËÁ‚‰ÂÌËÂÏ ËÒÍÛÒÒÚ‚‡. ïÛ‰ÓÊÌËÍ Î˛·ËÎ ÓÒÚ‡‚ÎflÚ¸
Ò‚ÓË ÔÓ‰ÔËÒË Ì‡ Ú·ı ÏÓ‰ÂÎÂÈ Ë ÔÓÒÂÚËÚÂÎÂÈ ‚˚ÒÚ‡-
‚ÓÍ, Ò˜ËÚ‡fl, ˜ÚÓ Úapple‡ÌÒÙÓappleÏËappleÛÂÚ ÔappleÓÒÚ˚ı ÒÏÂappleÚÌ˚ı
‚ «‚˜Ì˚ ˆÂÌÌÓÒÚË». óÂappleÂÁ ÌÂÒÍÓθÍÓ ÎÂÚ ‡apple„ÂÌÚË̈
éÒ͇apple ÅÓÌË ‚˚ÒÚ‡‚ËÎ Ò‚Ó˛ ÌÓ‚Û˛ apple‡·ÓÚÛ Ò ÌÂÔappleËÚflÁ‡-
ÚÂθÌ˚Ï Ì‡Á‚‡ÌËÂÏ «ëÂϸfl apple‡·Ó˜Â„Ó». èappleÂÎÂÒÚ¸ ·˚·
‚ ÚÓÏ, ˜ÚÓ ÓÚˆ, χڸ Ë apple·ÂÌÓÍ ·˚ÎË ÊË‚˚ÏË, Ë ‡‚ÚÓappleÛ
Ôapple˯ÎÓÒ¸ ‚˚Ô·ÚËÚ¸ apple‡·Ó˜ÂÏÛ Á‡ ÒÚÓflÌË ̇ ÏÂÒÚÂ
ÒÛÏÏÛ, apple‡‚ÌÛ˛ Â„Ó ‰‚ÓÈÌÓÏÛ ÔÓ˜‡ÒÓ‚ÓÏÛ Á‡apple‡·ÓÚÍÛ.
èÓÚÓÏ ‚ apple‡ÁÌ˚ı ÒÚapple‡Ì‡ı apple‡ÁÌ˚ ڂÓappleˆ˚ Ôapple‰·„‡ÎË
ÔÛ·ÎËÍ ÔÓÒÏÓÚappleÂÚ¸ ̇ ‡ÍÚÂappleÓ‚, ·ÓappleÓ‰‡Ú˚ı ÏÛʘËÌ,
‰ÎËÌÌÓ‚ÓÎÓÒ˚ı ·ÎÓ̉ËÌÓÍ, ÔflÚ¸‰ÂÒflÚ Ó‰ÌÓÚËÔÌÓ Ó‰Â-
Ú˚ı ÍËڇȈ‚, ӷ̇ÊÂÌÌ˚ı Á‡ÒÚ˚‚¯Ëı χÌÂÍÂÌ˘Ëˆ, ‚Ó-
ÂÌÌÓÒÎÛʇ˘Ëı ÙÎÓÚ‡ ëòÄ. Ç ÔappleÓ¯ÎÓÏ „Ó‰Û ‚ ò‚ÂȈ‡appleËË
ËڇθflÌÒÍËÈ ÍÓ̈ÂÔÚÛ‡ÎËÒÚ ÑʇÌÌË åÓÚÚË ‚˚ÒÚ‡-
‚ËÎ ·appleÓÍÂapple‡, Ó͇Á‡‚¯Â„ÓÒfl, Ôapple‡‚‰‡, ÔÂappleÂÓ‰ÂÚ˚Ï
ÒÔÓappleÚÒÏÂÌÓÏ.
éapple„‡ÌËÁ‡ÚÓapple˚ ‚˚ÒÚ‡‚ÍË ‚ Éñëà Á‡‰ÛχÎË ÔÓ͇Á‡Ú¸
ÁappleËÚÂÎflÏ Ì‡ÒÚÓfl˘Ëı ÏẨÊÂappleÓ‚. Ç˚·Óapple Ó·˙flÒÌËÎË
Ú‡Í: «í‡ËÌÒÚ‚ÂÌÌÓÒÚ¸ ÔappleËÒÛÚÒÚ‚ÛÂÚ ‚ β·ÓÈ ÔappleÓÙÂÒ-
«î.» êÖäéåÖçÑìÖí
Ç˚ÒÚ‡‚͇. Ç åÓÒÍÓ‚ÒÍÓÏ ‰ÓÏÂ
ıÛ‰ÓÊÌË͇ ÓÚÍapple˚·Ҹ ˝ÍÒÔÓÁË-
ˆËfl «ÑÂÍÓapple‡ÚË‚ÌÓ ËÒÍÛÒÒÚ‚Ó –
2006». Ç ˝ÚÓÏ „Ó‰Û apple„ÛÎflapplėfl
‚˚ÒÚ‡‚͇ ÔappleÓıÓ‰ËÚ ÔÓ‰ ‚ÒÂÓ·˙-
ÂÏβ˘ËÏ ‰Â‚ËÁÓÏ «ã˛·Ó‚¸.
èappleËappleÓ‰‡. í‚Óapple˜ÂÒÚ‚Ó». ëappleÂ‰Ë ÂÂ
Û˜‡ÒÚÌËÍÓ‚ – ·ÓΠ200 ıÛ‰ÓÊÌË-
ÍÓ‚, Á‡ÌËχ˛˘ËıÒfl Ò‡Ï˚ÏË apple‡Á-
Ì˚ÏË ÔappleËÍ·‰Ì˚ÏË ‚ˉ‡ÏË ËÒ-
ÍÛÒÒÚ‚‡ ÓÚ Ú͇˜ÂÒÚ‚‡, appleÓÒÔËÒË ÔÓ
Ú͇ÌË, ËÁ„ÓÚÓ‚ÎÂÌËfl „Ó·ÂÎÂÌÓ‚,
ËÁ‰ÂÎËÈ ËÁ ÍÂapple‡ÏËÍË Ë ÒÚÂÍ· ‰Ó
appleÂÁ¸·˚ ÔÓ ‰ÂappleÂ‚Û Ë ÏÓ‰ÂÎËappleÓ‚‡-
ÌËfl Ó‰Âʉ˚. ÑÓ 2 ‡ÔappleÂÎfl.
ñÂÌÚapple ÒÓ‚appleÂÏÂÌÌÓ„Ó ËÒÍÛÒÒÚ‚‡
«å‡appleÒ» Ôapple‰ÒÚ‡‚ËÚ ÔÛ·ÎËÍ ÏÓ-
ÎÓ‰ÂÊÌ˚È ÔappleÓÂÍÚ «å‡appleÒÓ‚Ó ÔÓ-
«Финанс.» 20–26 марта 2006 № 11 (148)
óÖå çÖ Äêí-éÅöÖäí?
λ, ÓÒÌӂ̇fl ˆÂθ ÍÓÚÓappleÓ„Ó ‚Ó-
‚Θ¸ apple„ËÓÌ˚ ‚ ıÛ‰ÓÊÂÒÚ‚ÂÌÌ˚È
ÔappleÓˆÂÒÒ, ҉·ڸ Ú‡Í, ˜ÚÓ·˚ ËÒ-
ÍÛÒÒÚ‚Ó Ì‡ ÏÂÒÚ‡ı Ì ·˚ÎÓ ‡·ÒÓ-
βÚÌÓ Ó·ÓÒÓ·ÎÂÌÓ ÓÚ ÏÓÒÍÓ‚ÒÍÓ-
„Ó ÍÓÌÚÂÍÒÚ‡, ÔÂappleÂÒÚ‡ÎÓ ·˚Ú¸ χ-
ÎÓËÌÚÂappleÂÒÌÓÈ ‚¢¸˛ ‚ Ò·Â,
ÓÚÓapple‚‡ÌÌÓÈ ÓÚ ·ÛappleÎfl˘ÂÈ ÍÛθ-
ÚÛappleÌÓÈ ÊËÁÌË. éapple„‡ÌËÁ‡ÚÓapple˚ ÒÓ-
·apple‡ÎË ‚ÏÂÒÚ ıÛ‰ÓÊÌËÍÓ‚ ËÁ apple‡Á-
΢Ì˚ı „ÓappleÓ‰Ó‚ êÓÒÒËË Ë ÔÓÔ˚-
Ú‡˛ÚÒfl ‚ӂΘ¸ ÏÓÎÓ‰˚ı Ú‚ÓappleˆÓ‚
‚ ‰Ë‡ÎÓ„ ‰appleÛ„ Ò ‰appleÛ„ÓÏ Ë Ò ÛÊÂ
ÔappleËÁ̇ÌÌ˚ÏË Ï‡ÒÚÂapple‡ÏË-Ôapple‡Í-
ÚË͇ÏË Ë ÚÂÓappleÂÚË͇ÏË ÒÓ‚appleÂÏÂÌ-
ÌÓ„Ó ËÒÍÛÒÒÚ‚‡. á‡fl‚ÎÂÌÓ, ˜ÚÓ
ÔappleÓÂÍÚ apple‡ÒÒχÚappleË‚‡ÂÚÒfl ͇Í
ÒÚ‡appleÚÓ‚‡fl ÔÎÓ˘‡‰Í‡ ‰Îfl ÒÓÁ‰‡-
ÒËË, ÌÓ ËÏÂÌÌÓ ÏẨÊÂapple˚ ӷ·‰‡˛Ú ͇ÍËÏ-ÚÓ Ï‡„˘ÂÒÍËÏ
Á̇ÌËÂÏ ËÎË ÓÒÓ·˚Ï «ÒÂÍappleÂÚÌ˚Ï ÓappleÛÊËÂÏ».
à̇˜Â ÚappleÛ‰ÌÓ Ó·˙flÒÌËÚ¸ Ëı ÚappleËÛÏهθÌÓ apple‡ÒÔappleÓ-
ÒÚapple‡ÌÂÌË ‚ ÒÓ‚appleÂÏÂÌÌÓÏ ÏËappleÂ. ÇÎËflÌË ˝ÚÓÈ ÔappleÓ-
ÙÂÒÒËË ÒÚÓθ ‚ÂÎËÍÓ, ˜ÚÓ Ó̇ Òڇ· Ì ÚÓθÍÓ Òӈˇθ-
Ì˚Ï, ÌÓ Ë ÍÛθÚÛappleÌ˚Ï ÙÂÌÓÏÂÌÓÏ». ëÔÓappleËÚ¸ Ò ˝ÚËÏ
ÒÎÓÊÌÓ, Á‡Ï‡Ì˜Ë‚ ÔÓÒÏÓÚappleÂÚ¸. Ñ‚‡ ‚˜Âapple‡ ‚ ‚˚ıÓ‰-
Ì˚ apple‡θÌ˚ ÏẨÊÂapple˚, Á‡ÌflÚ˚ ‚ ·Û‰ÌË, ·Û‰ÛÚ ÒË-
‰ÂÚ¸ ‚ Û‰Ó·Ì˚ı ÙËÌÒÍËı ÍappleÂÒ·ı. ê‡Á„Ó‚‡appleË‚‡Ú¸ Ò ÔÓ-
ÒÂÚËÚÂÎflÏË ËÎË ÏÓΘ‡Ú¸. ä‡Ê‰˚È «˝ÍÒÔÓ̇ڻ ·Û‰ÂÚ
Ò̇·ÊÂÌ Ó·flÁ‡ÚÂθÌÓÈ ËÌÙÓappleχˆËÓÌÌÓÈ Ú‡·Î˘ÍÓÈ,
ËÌÓ„‰‡ Ú‡Ï ·Û‰ÛÚ Á‡ÙËÍÒËappleÓ‚‡Ì˚ ‰ÓÒÚÓ‚ÂappleÌ˚ ҂‰Â-
ÌËfl, ËÌÓ„‰‡ ‚˚Ï˚¯ÎÂÌÌ˚Â. ÄappleÚ-Ó·˙ÂÍÚ˚ ‚˚·Ëapple‡ÎËÒ¸
ËÁ ÏẨÊÂappleÓ‚-‰Ó·appleÓ‚ÓθˆÂ‚ ‚ÒÂı ÛappleÓ‚ÌÂÈ, ӷ·‰‡˛-
˘Ëı ÚÂappleÔÂÌËÂÏ Ë ËÌÚÂappleÂÒÛ˛˘ËıÒfl ÒÓ‚appleÂÏÂÌÌ˚Ï ËÒ-
ÍÛÒÒÚ‚ÓÏ. 25, 26 χappleÚ‡.
ÌËfl ‰ËÌÓ„Ó Ï‰ˇ-‡appleÚ-ˆÂÌÚapple‡.
ë 24 χappleÚ‡.
åÛÁ˚͇. ɇ·-ÍÓ̈ÂappleÚ ÒÓÎËÒÚÓ‚
ÓÔÂappleÌÓÈ åÂÍÍË – ÎÓ̉ÓÌÒÍÓ„Ó
äÓappleÓ΂ÒÍÓ„Ó Ú‡Úapple‡ äÓ‚ÂÌÚ-ɇapple-
‰ÂÌ ÒÚ‡ÌÂÚ Ì‡ÒÚÓfl˘ËÏ ÔÓ‰‡appleÍÓÏ
‰Îfl β·ËÚÂÎÂÈ ÒÂapple¸ÂÁÌÓÈ Ì·apple‡-
‚ÛappleÌÓÈ ÏÛÁ˚ÍË. åÛÁ˚͇ÌÚ˚ ÏÓ-
ÎÓ‰Ó„Ó ÔÓÍÓÎÂÌËfl, ÛÒÔ¯ÌÓ „‡ÒÚappleÓÎËappleÛ˛˘ËÂ
ÔÓ ‚ÒÂÏÛ ÏËappleÛ, –
·‡Ò-·‡appleËÚÓÌ åÂÚ¸˛ êÓÛÁ, ÚÂÌÓapple
ÑÊÂÈÏÒ ù‰‚‡apple‰Ò, ÒÓÔapple‡ÌÓ à‚ÂÚÚ
ÅÓÌÌ Ë ÇËÍÚÓappleËfl 燂‡, ‚˚ÒÚÛÔflÚ
Ò ÉÓÒÛ‰‡appleÒÚ‚ÂÌÌ˚Ï ÒËÏÙÓÌ˘Â-
ÒÍËÏ ÓappleÍÂÒÚappleÓÏ êÓÒÒËË ‚ á‡ÎÂ
ó‡ÈÍÓ‚ÒÍÓ„Ó. Ç ÔappleÓ„apple‡ÏÏ ‚˜Âapple‡
– ‡appleËË ËÁ ÓÔÂapple åÓˆ‡appleÚ‡, ÑÓÌË-
íÂÍÒÚ: å‡apple„‡appleËÚ‡ ì‰Ó‚˘ÂÌÍÓ, ÙÓÚÓ: àíÄê-íÄëë