WPC @ k> UWmFo]$bFXz Vo%D)٪}̖)k7]HV-AF&V]GR-W=-- zY°nM3{P)?qwϼ}oG$LvOX)Ij9).ih|o*NةB S0ý-p`sDOJ"u=cl`g$#own6QM!ibZ9$=LeM[QԽ2^gX FYv PB_xY>[(Quί19u ky: ńՇЃ$aߎD,qJ*3rd;6MSKB1o&ԗ`˞l91SpLD$I ų+o 5U Nv % 0 # 4> mw4^ -9/H 0(w B-Z 0l& 0D 0 0v 0= 0 0D 1uK 72fa 0U 0] 0@ 0 0 0} 00 0 0! 0%" 0" 0# 0n$ 0% 0% 0c& 0& 0' 0 ( 0( 0) 0`* 0 + 0+ 0L, 0, 0v- 0<...f<.a>.R.Hh.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.h.N///// 1// 0C0C0C0C0 0V3V3 0i6i6 0&u99 0w99 0t:t: 0;; 1u;;;; BK<K<K<K<$h<h<h<h<h<h<h<h<h<h<h<h< 72==== 1=====================U:_>_>_>_>M>>>>D>>>>>>(?&d9 Z6Times New Roman RegularX(y$,..,*TRW6&A4W6&A4 6&A4 6&A4T ? **0?vvbX0#ggdd  8*dd8ISUS,.     ^^` Adobe PDF0W:\WP2000\SKJRI~IZ.WPTW:\WP2000\SkjritunY2k-nytt.wptU _fLrirs?gzL3|x %y_($)Hairline d8DocumentManagement::ModifiedBooleanTRUE(%2$ y!,..,XXXXTRW6&A4X3' Letter 6&A43'LetterT ? 8@XX0?vvbX0#ggdd  88@dd8ISUS,.     ^^`   8@  0  0  (#$  0  (xir$0  0` (#(#0 ` (#` (#2#(  0  )3  0 (# (#(F$0  0` (#(#0 ` (#` (#0 (# (#0h(#(#2#(   )3  0h(#h(#($0  0` (#(#0 ` (#` (#0 (# (#0h(#(#0h(#h(#2#  0  )3  0(#(#({$0  0` (#(#0 ` (#` (#0 (# (#0h(#(#0h(#h(#0(#(#2#  a  )3  0p(#(#(F$0  0` (#(#0 ` (#` (#0 (# (#0h(#(#0h(#h(#0(#(#0p(#(#2#     )3  0p(#p(# ikmox 3MQUY]aeiBullets ListTABLE A*+ (_2623  ..*G+G (_25   /%` ` hp x /23  ../%` ` hp x /   *8+8 (_24  ," hp x ,23  ..," hp x ,  *5+5 (_23 ` ) hp x )23  ..) hp x ) ` *2+2 (_22  &hhp x &23  ..&hhp x &  */+/ (_21  #p x #23  ..#p x #  *,+, (_20 h  p x 23  .. p x h *)+) (_19  pp x 23  ..pp x   *&+& (_18   x 23  .. x   *AA (_17  5+ ` hp x 523  Ԁ5+ ` hp x 5  *GG (_16   /%` ` hp x /23  Ԁ/%` ` hp x /   *88 (_15  ," hp x ,23  Ԁ," hp x ,  *55 (_14 ` ) hp x )23  Ԁ) hp x ) ` *22 (_13  &hhp x &23  Ԁ&hhp x &  *// (_12  #p x #23  Ԁ#p x #  *,, (_11 h  p x 23  Ԁ p x h *)) (_10  pp x 23  Ԁpp x   (&& &_9   x 23  Ԁ x   (AA &_8  5+ ` hp x 523  5+ ` hp x 5  (GG &_7   /%` ` hp x /23  /%` ` hp x /   (88 &_6  ," hp x ,23  ," hp x ,  (55 &_5 ` ) hp x )23  ) hp x ) ` (22 &_4  &hhp x &23  &hhp x &  (// &_3  #p x #23  #p x #  (,, &_2 h  p x 23   p x h ()) &_1  pp x 23  pp x   &&& $_   x 23   x   <:Default ParaTABLE B    > a֡',..,XXXX? 8@XX0?vvbX0#ggdd  ISUS,.   _Ԁ__ ikmo %Eu{}1. a. 1.StafliWir undir t?luliW1.a.1.(3֡$ y!,..,XXXXTRW6&A4X3' Letter 6&A43'LetterT ? 8@XX0?vvbX0#ggdd  88@dd8ISUS,.     ^^`   (3֡$ y!,..,XXXXTRW6&A4X3' Letter 6&A43'LetterT ? 8@XX0?vvbX0#ggdd  88@dd8ISUS,.     ^^`   (3$ y!,..,XXXXTRW6&A4X3' Letter 6&A43'LetterT ? 8@XX0?vvbX0#ggdd  88@dd8ISUS,.     ^^`    d (M0J$2  0  .3  0 ` (O;$0  2#  a  .3  0` (#(#(u$0  0` (#(#` `  2  a  .3  0` (#` (#(`$0  0` (#(#0 ` (#` (#0 (# (#"h2  0  .3  0(#(#3#37=CIQYag1.a.i.(1)(a)(i)1)a) d  g+,..,XXXX? 8@XX0?vvbX0#ggdd  ISUS,.   d  ݀qi) gEu{}a. 1. a.T?luliWur undir stafliWa.1.a.1)a)4cp Z "Times Regular : e֡),..,XXXX? 8@XX0?vvbX0#ggdd  ISUS,.   _>? Ҁ y!,..,XXXXTRW6&A4X3' Letter 6&A43'LetterT ? 8@XX0?vvbX0#ggdd  88@dd8ISUS,.     ^^`   _ >?  _ikmo(%03q =  9<_j148.lggjafarYing2017!2018. ( Xingskjal548"2.ml.    SWariumrWa.     b68@  Nefndarlit#8@ b6#     umtillgutilYingslyktunarumfjrmlastefnufyrirrin2018!2022.    Frmeirihlutafjrlaganefndar. K #    NefndinhefurfjallaWummliWfrYvaWYvvarvsaWtilhennar23.janarsl.ogtttta    fundiYarsemstefnanhefurveriWtilumfjllunar.Fulltrarfjrmla-ogefnahagsrWuneytis   kynntustefnunaogsvruWumargvslegumathugasemdumbWiskriflegaogmunnlega. wO  FjlmargirumsagnaraWilarkomufundnefndarinnar.XeirkomufrViWskiptarWi0slands, B  Sambandislenskrasveitarflaga,AlYUWusambandi0slands,Samtkumatvinnulfsins,Sam    tkumiWnaWarins,SamtkumfjrmlafyrirtkjaogSamtkumferWaYj;nustunnar.Loksvar   :lafurMargeirssonhagfrWingursmafundimeWnefndinni.FulltrarfjrmlarWsgerWu {  tarlegagreinfyrirlitisnuaukYesssemfjrmla-ogefnahagsrWuneytiWf;rsrstaklega nF yfirminnisblaWsittumlitfjrmlarWsnefndarfundi. 9   Xingslyktunartillaganbyggist4.gr.lagaumopinberfjrml,nr.123/2015.Xarkemur  framaWrkisstj;rnskuli,semfyrsteftiraWhnermynduW,m;tafjrmlastefnusemrWherra  leggiframAlYingiformitillgutilYingslyktunar.LgintilgreinaskilyrWiuminnihald r stefnunnar.HnskalbyggWkveWnumgrunngildumumsjlfbrni,varfrni,stWugleika e= ogfestuopinberumfjrmlum.Hntekurtilfjrmlahinsopinberaheild,Y.e.rkisog 0 sveitarflaga.Hnskalntilumfangs,afkomuogYr;unareigna,skuldaoglangtmaskuld  bindingahinsopinberaheildogtilekkistyttritmaenfimmrasenn.    LgingeraeinnigrWfyrirYvaWfjrmla-ogefnahagsrWherraleggiframtillgutil i YingslyktunarumfjrmlatlunsemfugtviWfjrmlastefnunalUturrlegriendurskoWun. \4 XaraWkomaframheildstWstefnumrkunallramlefnasviWagjaldaogteknatilsamrmis ' viWhagstj;rnarmarkmiWfjrmlastefnunnar.    TlugrunnurstefnunnarereingngusetturframsemhlutfallafvergrilandsframleiWslu  (VLF)ogframkemurheildarafkomaogskuldirfyrirhiWopinberaheildsinniauk `  sundurliWunarfyrirrkissj;Wogsveitarflgogsamtlurfyriropinberfyrirtki. S+!   SamandreginmeginstefnumiWtmabilinueruYeftirfarandi: " "i0J"  i0J2%  1  .3  Ԉ0    AfgangurverWiheildarjfnuWihinsopinberatmabiliW2018!2022semverWiaWlg # marki1,4%afVLFriW2018,1,2%afVLFriW2019,1,1%riW2020og1,0%rinYar  $ eftir.i0J݌!W% Ќ  "i0J"  i0J2%  2  .3  Ԉ0    HeildarskuldirhinsopinberaverWikomnarundir30%afVLFrslok2020ogverWi J""& ekkihrrien25%afVLFrslok2022.i0J݌#' Ќ  "i0J"  i0J2%  3  .3  Ԉ0    Heildartgjldhinsopinberavaxirinu2018um0,6%afVLFfrfyrrari.Xr;un #( umfangistarfsemihinsopinberattmabiliWverWimeWYeimhttiaWhnstuWliaW $ ) efnahagslegumstWugleika.i0J#݌v%N!* Ќ  Efnahagshorfur.   '",   Hagstofa0slandstlarvergalandsframleiWsluogllhlutfllinlyktuninnibyggjast '#- Yj;WhagsspHagstofunnarfrYvn;vember2017.AllarforsendurbyggjastYvspnni (z$. frYvn;vemberoghnhefurekkibreystmikiWYrttfyrirendurmatmars_ 2018. m)E%/  9  y      undanfrnumrumhafanrallir_ hagvsar_ ԀYr;asthagstWanhttfyrirYj;WarbiW ( heildsinni.XarvegurYyngstaWgerterrWfyriraWhagvxturverWillrinY;aWhanndrag  istsamanfrYvsemvarriW2016Yegarhannvarum7,4%.UppsafnaWurhagvxturllu  tmabilinuertlaWurum14%. a   AukinntflutningurhefurveriWhelstadriffjWurhagvaxtarsl.ra.Xarmunarlangmest T, umferWaYj;nustunasemhefurvaxiWkrftuglegaogafgangurhefurveriWafvru-ogYj;n  ustuviWskiptumYrttfyriraukinn_ vruinnflutning_ ԀsamhliWaauknumkaupmttiog_ gengis  styrkingu_ .GerterrWfyriraWviWskiptajfnuWurverWiframjkvWurogfjrfestingatvinnu   lfsinshefurtekiWverulegaviWsrsWastliWnumrum.GerterrWfyriraWfjrfestingheild  X sinnimunivaxaum21%rin2018!2023.GerterrWfyriraWfjrfestinghinsopinberahaldi K #  viW_ hagvxtinn_ ԀogaWhnverWiaWmeWaltali5,2%ritmabilinu.      HagstWytriskilyrWihafaleitttilYessaWverWb;lgahefurhaldistlg._ Gengisstyrking_ Ԁauk    _ lgrar_ ԀverWb;lguhelstuviWskiptalndumhefurhaftsittaWsegjaYessumefnum.Xhafa   vextirlkkaWum1,5pr;sentustigfrYvfyrirrisWan. wO    AukinnieftirspurneftirvinnuaflihefurveriWmttmeWinnflutningivinnuafls.Neru B  erlendirrkisborgararum12%vinnuaflshrlendisogerYaWhrrahlutfallenYegarmestvar    fyrirbankahruniWriW2008.Gangi_ hagspin_ ԀeftirmunuppsfnuWhkkunlaunavsitlu   runum2018!2023verWaum33%.Einkaneyslahefuraukistsamfaravaxandikaupmttiog {  auknummliskUrirhnhagvxtkomandira. nF   Fleiriforsendur_ hagsprinnar_ ԀerutilgreindargreinargerWinnimeWtillgunni. 9  _ hersluml_ .     MeirihlutinnleggurmiklahersluaWsembesttakisttilviWlausnYeirraefnahagslegu r _ rlausnarefna_ ԀsemviWeraWglmatilYessaWhagkerfiWnimjkrilendingukjlfarlengsta e= _ hagvaxtarskeiWs_ Ԁsemsgurfaraaf.TilYessaWsvomegiverWaverWurhrfjallaWumnokkra 0 Yttirvinnunefndarinnarsemmeirihlutinnvillsrstaklegavekjaathygli.  litfjrmlarWs. i   RWiWskilaWilitisnuinnanlgbundinstmafrestsYrttfyriraWYaWkallaWimiklavinnu \4 sWarihluta_ desembermnaWar_ .litiWvarbirtvefAlYingisWurenalmennarumsagnir ' brust.litiWmarkarstefnusemumrWaumrkisfjrmltekurkjlfariWogoftervsaWtil  YessWrumumsgnum.AWmatimeirihlutansskilarlitiWeinnigvandaWriumrWuum  opinberfjrmlheildsinniog;tvrttaWmikillvinningurfelisttilvistoglitumfjr `  mlarWs. S+!   0litumumfyrri_ fjrmlastefnur_ ,Y.e.fyrirrin2017!2022,lagWirWiWhersluaWlgW " yrWimeirivinnaaWtengjastefnunaviWgrunngildinsemframkoma6.gr.lagaumopinber # fjrml,nr.123/2015.Xauerusjlfbrni,varfrni,stWugleiki,festaoggagnsi.Meirihlut  $ innteluraWviWgerWnUrrarstefnuhafiveriWtekiWtillittilYeirraathugasemdaaWtluverWu !W% leyti. J""&   MeirihlutinntekurekkiundirbendingarrWsinservarWaskattlagninguferWaYj;nustunn #' arenrWiWleggurtilaWatvinnugreininfallialfariWundiralmenna24%_ virWisaukaskattYrepiW_ . #( AfstaWameirihlutanserrkstuddsrstakriumfjllunumhrifferWaYj;nustunnar. $ ) Afkomasveitarflaga. A&"+   StaWfesteraWafkomasveitarflagaferbatnandirfrri.tlanirrsins2018gerarW  '", fyriraW_ rekstrarniWurstaWa_ ԀYeirraverWisamtalsjkvWum7milljarWakr.semerum2,2% '#- aftekjumsveitarflaga.TilsamanburWarvarreiknaWmeW1,2%rekstrarafgangifyrra. (z$. JafnframtgeratlanirrWfyrirYvaWskuldirogskuldbindingarA-hlutasveitarflagalkki m)E%/ _ semhlutfallaftekjumr106%riW201896%riW2021.064.gr.sveitarstj;rnarlaga,nr. ( 138/2011,komaframtvrfjrmlareglur,annarsvegarjafnvgisreglasemkveWurumaW  samanlgWheildartgjldtilrekstrarA-ogB-hlutasuhverjuYriggjaratmabiliekki  hrriennemursamanlgWumreglulegumtekjum,hinsvegarskuldareglasemsegirtilum a aWheildarskuldirogskuldbindingarskuliekkiverahrriensemnemur150%afreglulegum T, tekjum.AWlitiSambandsslenskrasveitarflagahafareglurnargefistvelogstuWlaWaW  auknumagafjrmlastj;rnogtlanagerWsveitarflaga.  LUWfrWilegarbreytingar.  X   LktogWrumvestrnumrkjumhkkarhlutfallaldraWraafheildarbafjldalandsins. K #  F;lkaldrinum18!66ravarsextilsjsinnumfleiraenf;lkeftirlaunaaldritplega40    ratmabilifr1975til2011.0fyrravarhlutfalliWum5,3ogYverspWaWriW2022verWi    YaWkomiWniWur4,6.XaWverWaYvfrrivinnandieinstaklingarsemstandaundir   Yj;nustuviWYsemlokiWhafastarfsvinniogmunhrifaYessararYr;unargtaauknum wO  mlikomandirumogratugum.Hlutfallslegrifjlguneldraf;lksfylgirmeirikostnaWur B  viWheilbrigWiskerfiW.MeWalkostnaWurvegnaeinstaklingaeldrien65raerfj;rfalthrrien    meWalkostnaWurvegnaYeirrasemyngrieru.AWWru;breyttuverWurreksturheilbrigWis   kerfisinsogvelferWarYj;nustaYvdUrari.XvaxatgjldalmannatryggingameWstkkandi {  h;piellilfeyrisYegaogefryrkjumfjlgarlktoggersthefurallrasWusturumeykurYaW nF enntgjldin. 9   XessiYr;ungeturleitttilYessaWsjlfbrniopinberrafjrmlasstefntvoWa.SkUrari  myndkemstYaumlYegarfjrmla-ogefnahagsrWherraleggurskUrslufyrirAlYingium  langtmaYr;unrkisfjrmla,sbr.9.gr.lagaumopinberfjrml.Meirihlutinnleggurherslu r aWsskUrslafivandaWaumfjllunAlYingi. e= Afkomaopinberrafyrirtkja.    SamanburWurstefnunniogeldristefnusUniraWeinnamesturmunurertlaWriafkomu  hjfyrirtkjumhinsopinbera.tlaWeraWjkvWafkomaYeirranemisamanlagt1,5%af i VLFr,1,8%riW2019oghkkisWan1,9%riW2020og2,0%YaWsemeftirertma \4 bilsins.0fjrhWumtaliWerYaWmeiraen50milljarWarkr.rifrogmeWnstari.0fyrri ' fjrmlastefnuvarummunlakariafkomuaWrWaYarsemjkvWstaWanammestum1,0%  afVLFrin2020og2021semerhelmingilakaraennergertrWfyrir.    MeirihlutinntekurundirvarnaWarorWfjrmlarWsogannarraumsagnaraWilaYessefnis `  aWekkishgtaWgerakrfurumaWafkomafyrirtkjahinsopinberasemrekineru S+! viWskiptagrundvellimiWistviWhagsveifluleiWrttingarhlutverkhinsopinbera.Stj;rnvldgeta " ekkialfariWvarpaWbyrgWhagstj;rnarleguhlutverkiA-hlutayfirfyrirtkiopinberri # eigu.MeirihlutinnleggureinnighersluaWbtaYurfiupplUsingaflunumfyrirhugaWar  $ fjrfestingaropinberrafyrirtkjaYarsemumfangYeirrahefurveruleghrifafkomunaeins !W% oghnerskilgreindfjrmlastefnunni.SemdmiumstrWoghrifopinberufyrirtkjanna J""& fjrfestingumnefnaaWfjrlgumfyrirriW2018erllfjrfestingA-hlutarkissj;Ws #' tluWtpir43milljarWarkr.entilsamanburWarmiWastYr;unartlunKeflavkurflugvallar #( viWaWIsaviafjrfestifyrir100!150milljarWakr.runum2018!2025.Xeru;taldarfjr $ ) festingarannarrast;rraopinberrafyrirtkja,svosemLandsvirkjunar,LandsnetsogOrku v%N!* veituReykjavkur.Spurningarhlj;taaWvaknaumYaWhvaWaleiWirstandistj;rnvldumtil A&"+ boWatilaWhafahrifYttistarfsemiYessarafyrirtkjasemhafamesthriffjrmla  '", stefnuna,svosemmeirihttarfjrfestingarYeirra. '#-   (z$. AWhaldsstigopinberra& a  fjrmla. (   FjlmargirumsagnaraWilarfjallaumaWhaldsstigstefnunnarogoftarenekkiervaraWviW  ogsagtaWaWhaldiWmttiverameiraog'a(2BYvsaWtilYessaWnauWsynlegtsaWleiWrtta  afkomunafyrirhagsveiflunnitilYessaWleggjamataWhaldstefnunnar.BenteraWY;aW a afgangurafrekstrihinsopinberaaukistgeturveriWaWaWhaldsstigiWslaknisamatma. T, InnbyggWirYttirtekju-oggjaldaliWumaukatekjurogdragartgjldumuppsveifluog  fugtniWursveiflu.XannigverWurtilsjlfvirksveiflujfnunsemdregurrsamdrttar-og  Yensluhrifumhagsveiflunnar.AWhaldsstigopinberrafjrmlaendurspeglastYannighags   veifluleiWrttumfrumjfnuWi.  X   MeirihlutinntelurumfjllunumsagnaraWilaumaWhaldsstigiWoghagsveifluleiWrttan K #  frumjfnuWg;WaogtekurundirmikilvgiYessaWleitastsviWaWmlaaWhaldmeWYessum    httienbendirjafnframtvandkvWiYessaWleggjamathvernighagsveiflanYr;ast.Til    aWleiWrttafyrirhagsveiflunniYarfframleiWsluspennaYj;WarbsinsaWliggjafyrir.0opnu   hagkerfi,einsoghinuslenska,YhreyfistframleiWsluspennantil,t.d.meWinnflutningieWa wO  tflutningivinnuafls.XessiumrWavartekinviWundirbninglagaumopinberfjrmlog B  Yverandifjrlaganefndfllstrkfjrmla-ogefnahagsrWuneytisinsumaWmiWaafkomu    reglulagannaviWaWheildarjfnuWuryfirfimmratmabilskulivalltverajkvWurog   rlegurhallivalltundir2,5%afVLF.MeirihlutinntelurYvaWframsetningstefnunnar {  skuliframmiWastviW;breyttarreglur,sbr.7gr.lagaumopinberfjrml,engreinargerW nF kemurframaWeinnigskulileitastviWaWmlaaWhaldsstigiWmiWaWviWhagsveifluleiWrttan 9 frumjfnuW.  Btgjaldaregla. r   UmsagnaraWilarhafabentaWfjrmlareglanumafkomuvirkiekkingilegahamlandi e= tgjaldavxtuppsveiflu.0Yessusambandiert.d.vsaWtilYessaWhiWopinberauppfyllti 0 llskilyrWinverandifjrmlaregluYenslurunumrttfyrirbankahruniW2008Yrttfyrir  aWsamatmahafiefnahagslegur;stWugleikiveriWvaxandi.    UmrWaumsrstakatgjaldaregluttisrstaWtengslumviWundirbninglagasetningar i umopinberfjrmleinsogumrWaumhagsveifluleiWrttanfrumjfnuW.kveWiWvaraW \4 lgbindaekkitgjaldaregluYarsemmeWYvvrimjgYrengtaWrrWumstj;rnvalda ' framtWinnitilaWbregWastviWmismunandiefnahagshorfum.    MeirihlutinnteluraWuppsveifluYj;Wflaginuvritilb;taaWsetjatgjaldaregluY;aW  hnsekkilgbundinogmiWistYviWtiltekiWhlutfallafVLFYvskyniaWkomavegfyrir `  aWrkistgjldinvirkiYensluhvetjandi. S+! hrifferWaYj;nustunnar. #   HagvxturhefurveriWsamfelldurhrlendisalltfrseinnihlutarsins2010ogspWer  $ framhaldandihagvextillrinfjrmlastefnunni.NralliraWrirhagvsar,svosem !W% tflutningur,launaYr;un,atvinnustigogviWskiptakjrerlendis,hafaYr;asthagfelldanhtt J""& fyrirfyrirtkiogeinstaklinga.MeginskUringinligguruppgangiferWaYj;nustunnarsem #' hefurveriWfordmalaussWusturum. #(   NefndinhefuraflaWsrupplUsingatilaWvarpalj;siumfang,uppgangogjafnframt $ ) httusemfelstferWaYj;nustu.tlanagerWfyriratvinnugreininahefurmiklumeiraYj;W v%N!* hagslegtgildinheldurenvarfyrirnokkrumrumsWan. A&"+   ViWmatfjldaferWamannaoghrifYeirratekjurhagkerfisinsoghagvxtermiWaWviW  '", spIsaviaenjafnframthorfttilannarraspa,svosemfrgreiningardeildumviWskiptabank '#- anna.FjlgunferWamannavarstigvaxandirfrrialltfrrinu2011YartilfyrraaWheldur (z$. dr;rhlutfallslegrifjlgun.FjlguninriW2017varsamtmikil,eWa24%viWb;tviWYr m)E%/ <_j <  <  1,8millj;nirferWamannasemkomuriWWur.XaWkomuYvtplega2,2millj;nirferWa ( mannatil0slandsfyrraeWasemnemurmeiraensexfldumbafjldalandsins.Undanfarna  mnuWihefurhgtaukningunniogn;vember2017f;rhnfyrstasinnniWurfyrir10%  rsgrundvellifrYvn;vember2011.FjlgunferWamannajanar2018nam8,5%rs a grundvelli. T,   FjldilaunYegastrfumsemflokkastundirferWaYj;nustuvoruum12.300talsinsriW  2008enum27.200fyrra.StrfumferWaYj;nustuhefurfjlgaWverulegaenY;miklummun  minnaensemnemurfjlgunferWamanna,semvoruinnanviW500YsundriW2008.XaW   sUniraWframleiWnivinnuaflsferWaYj;nustuhefurbatnaWverulegaYessutmabili.SkrWir  X blaleigublarvoruum6.200riW2011enum22.000fyrra.AukninginerYvum250% K #  sexrum.      HlutdeildferWaYj;nustunnartflutningstekjumnamum42%fyrraoghafWiYaukist    r18%riW2013.TilsamanburWarnamhlutdeildsjvartvegsoglssamtals33%aftflutn   ingstekjumfyrra. wO    AW;sknefndarinnarlagWifjrmla-ogefnahagsrWuneytiWmathttutengdaYvaW B  samdrtturverWiferWaYj;nustuhrlendis.XaWvargertbWimeWYvaWberaferWaYj;nust    unahrlendissamanviWalYj;WlegaYr;unogmeWsrstakrifrviksspYarsemmiWaWerviW   minnivxtferWaYj;nustusemleiWitil50%minnivaxtarYj;nustutflutningsenYj;Whagssp {  Hagstofunnar,samdrttum3,5%atvinnuvegafjrfestingurin2018og2019aukminni nF hkkunarlaunavsitlu.NiWurstWurfrvikssprinnarvoruYraWhagvxturgtiorWiW 9 rmlegapr;sentustigiminnirin2018og2019og0,8pr;sentustigumminninstutvrin  Yareftir.EftirsemWurvrihagvxturhverjurisemstefnannrtilenhannnmiY  1,9%aWmeWaltalirisemerltillhagvxtursgulegusamhengi. r   AthugunrWuneytisinsvextiferWaYj;nustunnarsamanburWiviWalYj;WlegaYr;unf;lst e= m.a.YvaWltatil38rkjaYarsemuppsfnuWfjlgunferWamannahefurfimmrumorWiW 0 meirien200%.EinnigvarkannaWhvernigfjldiferWamannahefWiYr;astYeimrkjumYar  semraungengihefWistyrkstummeiraen15%tveimurrum.NiWurstWurnarvorusvipaWar,  ferWamnnumhltframaWfjlgaenY;hgarenWur. i   HelstuniWurstWurvoruYvYraWferWaYj;nustaheimsvsuvexrtoghiWsamam \4 segjaumferWaYj;nustuNorWur-Evr;pu.EfnahagurhelstuviWskiptalanda0slands,aWBret ' landiundanskildu,hefurtekiWviWsreftirltinnvxtundanfarinrogframboWflugstum  til0slandsheldurframaWaukast,enYettaeruYeirhrifaYttirsemvirWasthafahvemest  hrifferWaYj;nustu.XvirWastlndsemupplifaverulegaaukinnfjldaferWamannaalmennt `  haldavinsldumsnum,enYeimtilfellumYarsemviWsnningurverWurmiWulegarekja S+! samdrttinntilstandssem;gnarryggiferWamanna. "   XaWerYvfttsembendirtilviWsnningsferWaYj;nustuhrlendisenhafaberhugaaW # ytrifll,svosemnttruhamfarirhrlendiseWaefnahagsfllerlendis,getahglegaleitt  $ tilminnieftirspurnareftirferWaYj;nustuensprgerarWfyrir. !W%   AWaukibendirmeirihlutinnaWyfirgnfandifjldiflugstasemboWiertil0slandser J""& henditveggjaflugflagaogvissulegaeykurYaWhttunasamdrttigreininni.0lj;si #' mikilvgisatvinnugreinarinnaroggetuhennartilaWviWhaldavextiogjkvWumviWskipta #( jfnuWiYrttfyrirhttraungengitelurmeirihlutinnaWstj;rnvldhafitekiWrttakvrWun $ ) YegarfalliWvarfrYvaWferWaYj;nustanttiaWinnheimta24%virWisaukaskatt. v%N!* ЀHagkvmni& a Ԁfjrfestingahinsopinbera.  '",   0kjlfarbankahrunsinsvorurkisframlgtilviWhaldsogfjrfestingarst;rlkkuW.Eftir '#- Yvsemhagurhinsopinberahefur'a '>kbatnaWhefurraunaukningrkistgjaldaaWmikluleyti (z$. komiWframvelferWar-ogheilbrigWismlumaukYesssemframlgtilmenntamlahafa m)E%/ aukistaWraungildiallrasWusturum. 8*&0   FjrfestingvegumhinsopinberahefurhinsvegarekkiaukistaWsamaskapiogmeiri ( hlutinnleggurhersluaWYarverWibreyting.UppbyggingogviWhaldinnviWa,svosem  samgngukerfisins,ermeWbrUnniverkefnumstj;rnvaldaognauWsynlegtaWgeratak  uppbygginguYvsviWi.UppsfnuWviWhaldsYrfgrefurundangrunngildumumstWugleika a ogsjlfbrni. T,   ViWuppbyggingunaernauWsynlegtaWforgangsraWaframkvmdumkerfisbundiWognUta  bata-ogkostnaWargreiningarYvskyni.ArWsemiinnviWafjrfestingageturveriWmjgmikil  efrtterhaldiW.EfvelteksttilmaukahagvxtogframleiWnihagkerfinubWitillengri   ogskemmritma.  X   MeirihlutinnbeinirYvtilstj;rnvaldaaWkomakerfisbundnariforgangsrWunfram K #  kvmdaenveriWhefurframtilYessa.    Gengisstyrkingslenskukr;nunnar.     UmsagnaraWilumvarWtWrttumhttraungengikr;nunnaroghrifYessatvinnulfiW. wO  EkkiersrstaklegaspWfyrirumgengisYr;unYj;WhagspHagstofunnarogYarmeWkoma B  gengishrifekkiviWsguforsendumfyrirfjrmlastefnunni.sWastliWnumrumhefur    verWb;lgahelstuviWskiptalndumveriWafarlgoggengikr;nunnarstyrkstumtalsvert.   XessirtveirYttirhafavegiWm;tihrifumaflaunahkkunuminnanlandsYannigaW {  verWb;lgahrlendishefurveriWviWviWmiWunarmrkSeWlabanka0slandsalltfrrinu2014. nF :lklegtverWuraWteljastaWYessirYttirleggistjafnhagfelltmeWverWb;lguYr;unhrlendis 9 nsturum.RaungengisYr;uningeturveriWhlutiafaWlgunYj;WarbsinsaWbhnykkjum  ogYessimiklasveiflagerirstWutflutningsatvinnugreinannaerfiWarienellaoggtileitt  tilviWsnningsviWskiptajfnuWi. r   MeirihlutinntekurundirhyggjurumsagnaraWilaafsveiflumraungengiskr;nunnaren e= bendirjafnframtaWumfangferWaYj;nustunnarvirWisthafahaftYauhrifaWviWskiptajfn 0 uWurinnerekkineikvWurYrttfyrirsgulegamjghttraungengi.   litfjrmlarWs.  i   VeigamestaumsgninumstefnunaerlitsgerWfjrmlarWsoghngafaWmrguleyti \4 t;ninnfyrirYrumsagnirsemeftirkomu.Nefndinf;ryfirUmsarbendingarrWsinsmeW ' fulltrumfjrmla-ogefnahagsrWuneytisins.Xarkomm.a.framaWrWuneytiWhefursett  f;tvinnuh;patilaWvinnarUmsumbendingumsemkomuframviWfyrrifjrmlastefnur.  Xrsnat.d.aWinnleiWinguUmissakvWalagaumopinberfjrml.AWrarbendingarsem `  rWuneytiWtekurtilskoWunareWatekurafstWutileru: S+! ! ! ikmo( y0_ikmo"i0J"  i0J{ 2 3  Ԉ0    Framfylgdgrunngilda.bendingineraWskilegtsaWtlanagerWinnifylgigreining " tilstaWfestingarYvaWhnuppfylligrunngildilagannaogtekurYaWbWitilfjrmla # stefnuogfjrmlatlunar.RWuneytiWmunsjtilYessnstufjrmlatlunverWi  $ tekiWmeiratillittilbendinganna.i0J{|݌!W% Ќ  "i0J"  i0JJ~ 2 3  Ԉ0    EfnahagsforsendurogYj;Whagssp.bendingarsnaeinkumaWYvaWtraYurfispr J""& Hagstofu,Y.e.samspiliWereinattfrsptiltlunarenekkihringrseinsogskilegt #' vri.0YvflistaWHagstofanendurbttidrgaWspmiWaWviWtlunrWuneytisins #( ogmeWnUjumYj;WhagsforsendumendurbttirWuneytiWtluninaogYarmeWfor $ ) sendurstefnunnar.TilaWkomatilm;tsviWbendingarervinnuh;purrWuneytisog v%N!* HagstofuaWundirbaYr;unYj;WhagslkansmeWtillititilhagstj;rnarhinsopinbera. A&"+ EinnigstendurtilaWaukasamstarfviWSeWlabanka0slandsYessusviWi.i0JJ~w~݌ '", Ќ  "i0J"  i0Jc 2 3  Ԉ0    HagsveifluleiWrttingafkomuogaWhaldsstig.RWuneytitekuraWhlutatilundir '#- bendingarYessusviWienbendirvandkvWiYessaWnotaYennanmlikvarWaum (z$.  afkomueinsograkiWerumfjllunumaWhaldsstigopinberrafjrmlafyrrlitinu.i0Jc݌m)E%/ Ќ  "i0J"  i0J 2 3  Ԉ0    MarkmiWssetning& ,  fjrmlastefnuogfjrmlatlun.AthugasemdvargerWviW ( afkomumarkmiWsemmiWuWustviWlgmarkspunktmatfyrirhvertogeittrYarsem  stj;rnvldgtulentspennitreyjueiginfjrmlastefnuefefnahagshorfurtkjumiklum  breytingumfrtlun.TaliWvareWlilegra',(!aWmiWaviWhagsveifluleiWrttmattilteknu a bili.RWuneytiWhefurennsemkomiWerekkitekiWafstWutilYessararbendingar.i0J݌T, Ќ  "i0J"  i0J 2 3  Ԉ0    Fjrmlsveitarflaga.BentvaraWsamrmingrkisogsveitarflagaviWundirbning  fjrmlastefnuvriltilogaWkomasveitarflagannaaWstefnumrkunvritakmrkuW.  Vinnuh;pureraWstrfumtilaWbtarYessu.MarkmiWiWeraWtryggjasamrmi   framsetningutlulegraupplUsingaumfjrhagsmlefnirkisogsveitarflagaogvinna  X aWsamhfingureiknilkanaogyfirsUnyfirstWuoghorfurfjrmlumhinsopinbera.i0Jև݌K #  Ќ  "i0J"  i0J 2 3  Ԉ0    Framsetningfjrmlastefnuogfjrmlatlunar.BentvaraWskilegtvriaW    greinargerWyrWifjallaWumbreytingarfrstefnufyrrirkisstj;rnar.MikilvgteraW    auWveltsaWberasamanstefnurogfjrmlatlanir.RWuneytiWhefurekkikveWiW   hvortogYhvernigYaWtelurbestaWbregWastviWYessaribendinguengeramrWfyrir wO  aWfjrmlatlanirkomandirafelisrsamanburWmarkmiWamillira.i0Jˊ݌B  Ќ  "i0J"  i0J 2 3  Ԉ0    Fjrfestingarhinsopinbera.BentvaraWhannaYurfisamrmdaumgjrWum    fjrfestingarkvarWanirhinsopinberaogfjrmgnunYeirraogaWliggjaYurfifyrirviW   kvarWanatkuumfjrfestingarhvaWaverkefniskilimestutilsamflagsins.Ekkihefur {  ennveriWbrugWistviWbendingunnienYessmvntaaWfjrmlatlanirkomandira nF felisrsamanburWmarkmiWamillira.Einsogframkomumfjllunumhagkvmni 9 fjrfestingahinsopinberaermeirihlutinnsammlaYessaribendingufjrmlarWs.i0JЍ݌ Ќ  "i0J"  i0J 2 3  Ԉ0    SkuldaYr;un.BentvarnauWsynYessaWgeragreinfyrirYvhvernigafrakstriafslu  eignayrWirWstafaWtilgreiWsluskulda.RWuneytiWtekurundirbendingunaogtelurrtt r aWsetjaframsviWsmyndirumeignaslumiWaWviWmismunandiforsendurtilaWupplUsa e= ummismunandivalkostiogmguleghrifYeirra.0nstufjrmlatlunverWurkafli 0 YarsemfjallaWverWurumeignasluogmguleghrifskuldaYr;unogfjrmagnsjfnuW  rkissj;Ws.i0J2݌ Ќ  Tlugrunnurstefnunnar. \4   FjrmlastefnanereinvrWungusettframsemhlutfallafvergrilandsframleiWsluennefnd ' inhefurtekiWsamanfjrhWirsembaaWbakistefnunnimiWaWviWnUjustuYj;Whagssp  HagstofunnarfrYvmarsmnuWi.StefnanersettframmiWaWviWn;vemberspnaen  flestumtilfellumerbreytingin;veruleg. `    0tflunnikemurframaWheildarafkomaA-hlutahinsopinberabatnarekkitmabilinuen S+! erY;vallttluWmeWmeiraen30milljarWakr.afgangiri.HeildarskuldirA-hlutanseru " taldarlkkar911milljrWumkr.837milljarWakr.ogkemurlkkuninnralfariWfram # hjrkissj;WienskuldirsveitarflagabreytastltiWmilljrWumkr;nataliW.  $   HeildarafkomahinsopinberaertluWverulegajkvWogaWhnbatnitmabilinur !W% 78milljrWumkr.r100milljarWakr.riW2022.XarvegurlangYyngstaWtlaWeraW J""& opinberufyrirtkinskili(##2#(#/##3##afYeim100milljrWumkr.HeildarskuldiropinberraaWilaeru #' tlaWarrmar1.600milljarWarkr.YessuriogaWYrlkkium100milljarWakr.tma #( bilinu. $ )   MeirihlutinntrekarbendingusnaumnauWsynYessaWupplUsingaflunumform v%N!* opinberufyrirtkjannabyggisttraustumgrunniogtryggtsaWfjrfestingartlanirYeirra A&"+ raskiekkistWugleikaefnahagsmlum.  '",   '#-   BtreikningurfjrhWa&   miWaWviWhlutfallafvergrilandsframleiWslu. ( *ddd Xdd Xdd X>>, , , , , , , , +  =, =! 8@0millj.kr. L;* L2018 I8'" I2019 I8'" I2020 I8'" I2021 I8'" I2022 TJ-"  T HiWopinbera,A-hluti I?!   I 7-f>  7Heildarafkoma.  #8@ !q#! 8@Ԉ 6,f>  637.744 3)f> U 334.332 3)f> U 333.209 3)f> U 331.770 3)f>U 333.480 F<#f>U  F 3) 3 3) 3!Y.a.rkissj;Wur.  " 3) 332.352 3)U 328.610 3)U 327.171 3)U 325.416 3)U 326.784 F<U  F 3) 3 3) 3!Y.a.sveitarflg.O O # 3) 35.392 3)U 35.722 3)U 36.038 3)U 36.354 3)U 36.696 KA#U   K 7-]  7Skuldir.YY#8@ !g#! 8@Ԉ 6,]! 6911.248 3)]"U 3886.910 3)]#U 3860.415 3)]$U 3867.321 3)]%U 3837.000 F<#]&U  F 3): ' 3 3): ( 3!Y.a.rkissj;Wur.  " 3): ) 3741.400 3): *U 3715.250 3): +U 3694.370 3): ,U 3698.940 3): -U 3669.600 A7: .U A 3) / 3 3) 0 3!Y.a.sveitarflg.O O # 3) 1 3169.848 3) 2U 3171.660 3) 3U 3166.045 3) 4U 3168.381 3) 5U 3167.400 H> 6U H OpinberiraWilarheild XN0 |7   X 7-Y 18 7Heildarafkoma.  #8@ !#! 8@Ԉ 6,Y 19 678.184 3)Y 1:U 385.830 3)Y 1;U 390.570 3)Y 1<U 395.310 3)Y 1=U 3100.440 F<#Y 1>U  F 3) ? 3 3) @ 3!Y.a.hiWopinbera.{ { # 3) A 337.744 3) BU 334.332 3) CU 333.209 3) DU 331.770 3) EU 333.480 A7 FU A 3) G 3 3) H 3!Y.a.fyrirtkihinsopinbera. . 3) I 340.440 3) JU 351.498 3) KU 357.361 3) LU 363.540 3) MU 366.960 A7 NU A 7-x P O 7Skuldir.YY#8@ !(#! 8@Ԉ 6,x P P 61.612.208 3)x P QU 31.573.550 3)x P RU 31.524.595 3)x P SU 31.534.491 3)x P TU 31.506.600 A7x P UU A 3)- V 3 3)- W 3!Y.a.hiWopinbera.{ { # 3)- X 3911.248 3)- YU 3886.910 3)- ZU 3860.415 3)- [U 3867.321 3)- \U 3837.000 H7- ]U H I8' ^ I I8' _ I!Y.a.fyrirtkihinsopinbera. . I8' ` I700.960 I8' aU I686.640 I8' bU I664.180 I8' cU I667.170 I8' dU I669.600=31 eU   =' (6#8@ !C#_  MeirihlutinnleggurtilaWtillaganverWi samYykkt;breytt.  Y1 f   AlYingi,15.mars2018.  h H*:;dd       >>,}",>",>","+  3)i m3WillumX;rX;rsson, 'j form.,frsm. 9/k##$$ 9BjarkeyOlsenGunnarsd;ttir. 8.'l##$$ 8HaraldurBenediktsson. G='m m ##$$ mGNjllTraustiFriWbertsson. ,"n##$$ ,PllMagnsson."o m   "