WPC< jd'Qwx hc}O'f.::GDwdǕ*$!,L;Fg5.rA} Ƿa;5"b$RT Wcnx`K[sTԔOwk% }w^ 4 B1-Z 0lu 0D 0(% AMM( D- 1M M M M f a o JY#%DA(A(A(A(N+++++ 1++ 0,,,, 0+/+/ 0>2>2 0*u]5]5 0w55 0I6I6 066 1u7777 B 8 8 8 8$=8=8=8=8=8=8=8=8=8=8=8=8 72a9a9/99 19999999fc:ae:e:e:e:e:e:e:e:e:e:e:e:e:U:y:y:y:y:M::::D:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::;&d9 Z6Times New Roman RegularX($,..,TRW6&A4W6&A4 6&A4 6&A4T ? 0?vvbX0#ggdd  8dd8ISUS,.     ^^` Adobe PDF0 W:\WP2000\SKJRI~IZ.WPTUW:\WP2000\SkjritunY2k-nytt.wptᄎKy^KM9Jrirs?g3|x)Hairline d8DocumentManagement::ModifiedBooleanTRUE(%2φ$ !,..,XXXXTRW6&A4X3' Letter 6&A43'LetterT ? XX0?vvbX0#ggdd  8dXXd8ISUS,.     ^^`   e  0  0  (#$  0  ($5&Draw Object =8C HKKKK  a',..,XXXX?  XX0?vvbX0#ggdd  ISUS,.   _Ԁ)!dxdx89CIOU]emsr;mvr;mvi.a.i.(1)(a)(i)1)a)Table_A e φ$,..,XXXX?  XX0?vvbX0#ggdd  ISUS,.  A   1  0   _Fjrmlafyrirtkiogsj;WirinnanBogChlutarkissj;WseruekkimeWtalinstefnumrkuninnivegna  srstWusinnarYegarumfangogefnahagsleghrifopinberrafyrirtkjahagkerfinuermetiW. @ φ$,..,XXXX?  XX0?vvbX0#ggdd  ISUS,.  A   2  0   _HeildarskuldiraWfrtldumlfeyrisskuldbindingumogviWskiptaskuldumogaWfrdregnumsj;Wumog  bankainnstWum,sbr.7.gr.laganr.123/2015,umopinberfjrml.  φ$,..,XXXX?  XX0?vvbX0#ggdd  ISUS,.  A   3  0   _HrervsaWtilskuldareglusveitarflagaskv.2.tlul.64.gr.sveitarstj;rnarlagaYarsemgerterrWfyrir  aWheildarskuldirogskuldbindingarA-ogB-hlutareikningsskilumsuekkihrriennemur150%af E reglulegumtekjum. : φ$,..,XXXX?  XX0?vvbX0#ggdd  ISUS,.  A   4  0   _tlaWeraWfjrmgnunlfeyrisskuldbindingumsveitarflagahjA-deildBrarogbreytingar  reikningshaldslegrimeWferWYeirra,semm.a.leiWirafsamkomulagiviWsamtkopinberralaunYegaviW E rkiogsveitarflgsemgertvarrinu2016,leiWitilhkkunarskuldaYeirrasemnemuru.Y.b.1%af ` VLFsamkvmtskilgreiningulagaumopinberfjrml.ikmo %Eu{}1. a. 1.StafliWir undir t?luliW1.a.1.(3$ !,..,XXXXTRW6&A4X3' Letter 6&A43'LetterT ? XX0?vvbX0#ggdd  8dXXd8ISUS,.     ^^`   (3$ !,..,XXXXTRW6&A4X3' Letter 6&A43'LetterT ? XX0?vvbX0#ggdd  8dXXd8ISUS,.     ^^`   (3$ !,..,XXXXTRW6&A4X3' Letter 6&A43'LetterT ? XX0?vvbX0#ggdd  8dXXd8ISUS,.     ^^`    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?  XX0?vvbX0#ggdd  ISUS,.   d  ݀qi) %y_ gEu{}a. 1. a.T?luliWur undir stafliWa.1.a.1)a)Table_B4cp Z "Times Regular : e),..,XXXX?  XX0?vvbX0#ggdd  ISUS,.   _>? ҀLevel 1Level 2Level 3Level 4Level 5 !,..,XXXXTRW6&A4X3' Letter 6&A43'LetterT ?  XX0?vvbX0#ggdd  8 dd8ISUS,.     ^^`   _ >?  _ikmo(%03q 9148.lggjafarYing2017!2018. ( Xingskjal2"2.ml.  Stj;rnartillaga.      Qj TillagatilYingslyktunar#  Qj#   z  umfjrmlastefnufyrirrin2018!2022.      Frfjrmla-ogefnahagsrWherra. K #  s  AlYingilyktar,sbr.lg123/2015,umopinberfjrml,aWstj;rnvldfylgistefnumrkun    umopinberfjrmlsamkvmteftirfarandiyfirlitiumformaWaafkomuogskuldaYr;unfyrir   fjrlagariW2018ognstufjgurrYareftirgrundvelliYeirraforsendnasemfjrmla wO  stefnanerreist.MeWhliWsj;nafnverandiefnahagshorfumoghorfumfjrmlumhins B  opinberaerustefnumiWopinberumfjrmlumnstufimmreftirfarandi:    A *MNFddd Xdd Xdd X>>, ,,,,,+  K:{ {  KHlutfallafvergrilandsframleiWslu,% |k( ##$$ @2018@|2018 R 3 @2018 @##$$ @2019@2019 R 3 @2019 @##$$ @2020@2020 R 3 @2020 @##$$ @2021@2021 R 3 @2021 @##$$ @2022@2022 ] 3 @2022   @##$$   HiWopinbera,Ahluti PF(s ##$$  P YO1s3 ##$$  Y YO1s3 ##$$  Y YO1s3 ##$$  Y YO1s3 ##$$  Y qg<s3    ##$$  q0  Heildarafkoma |r2{SHH ##$$  ?1?  |1,4 O{S3  ?1 ? ##$$  ?1?  1,2 O{S 3  ?1 ? ##$$  ?1?  1,1 O{S!3  ?1 ? ##$$  ?1?  1,0 O{S"3  ?1 ? ##$$  ?1?  1,0 Z{S#3  ?1   ? ##$$  0  0HHYarafrkissj;Wur,Ahluti |r2[3$HH ##$$  ?1?  |1,2 O[3%3  ?1 ? ##$$  ?1?  1,0 O[3&3  ?1 ? ##$$ #   0,9 yD[3'3 #  ##$$ #   0,8 yD[3(3 #  ##$$ #   0,8 zO[3)3 #    ##$$  0  0HHYarafsveitarflg,Ahluti qg2;*HH ##$$ #   q0,2 yD;+3 #  ##$$ #   0,2 yD;,3 #  ##$$ #   0,2 yD;-3 #  ##$$ #   0,2 yD;.3 #  ##$$ #   0,2 zO;/3 #    ##$$  0  Skuldir* }s20HH ##$$  @@33@@  }33,8 P13  @@33 @@ ##$$  ?@31?@  31,0 P23  ?@31 ?@ ##$$  <@28<@  28,5 P33  <@28 <@ ##$$  ;@27;@  27,3 P43  ;@27 ;@ ##$$  9@259@  25,0 [53  9@25   9@ ##$$  0  0HHYarafrkissj;Wur,Ahluti }s26HH ##$$  ;@27;@  }27,5 P73  ;@27 ;@ ##$$  9@259@  25,0 P83  9@25 9@ ##$$  7@237@  23,0 P93  7@23 7@ ##$$  6@226@  22,0 P:3  6@22 6@ ##$$  4@204@  20,0 [;3  4@20   4@ ##$$  0  0HHYarafsveitarflg,Ahluti |r2<HH ##$$  @6@  |6,3 O=3  @6 @ ##$$  @6@  6,0 O>3  @6 @ ##$$  @5@  5,5 O?3  @5 @ ##$$  @5@  5,3 O@3  @5 @ ##$$  @5@  5,0 ZA3  @5   @ ##$$  OpinberiraWilarheild SI(B ##$$   S \R1C3 ##$$   \ \R1D3 ##$$   \ \R1E3 ##$$   \ \R1F3 ##$$   \ qg<G3    ##$$  q0  Heildarafkoma |r2sHHH ##$$  @2@  |2,9 OsI3  @2 @ ##$$  @3@  3,0 OsJ3  @3 @ ##$$  @3@  3,0 OsK3  @3 @ ##$$  @3@  3,0 OsL3  @3 @ ##$$  @3@  3,0 ZsM3  @3   @ ##$$  0  0HHYarafhiWopinbera,Ahluti |r2{SNHH ##$$  ?1?  |1,4 O{SO3  ?1 ? ##$$  ?1?  1,2 O{SP3  ?1 ? ##$$  ?1?  1,1 O{SQ3  ?1 ? ##$$  ?1?  1,0 O{SR3  ?1 ? ##$$  ?1?  1,0 Z{SS3  ?1   ? ##$$  0  0HHYaraffyrirtkihinsopinbera |r2[3THH ##$$  ?1?  |1,5 O[3U3  ?1 ? ##$$  ?1?  1,8 O[3V3  ?1 ? ##$$  ?1?  1,9 O[3W3  ?1 ? ##$$  @2@  2,0 O[3X3  @2 @ ##$$  @2@  2,0 Z[3Y3  @2   @ ##$$  0  Skuldir* }s2;ZHH ##$$  M@59M@  }59,8 P;[3  M@59 M@ ##$$  K@55K@  55,0 P;\3  K@55 K@ ##$$  I@50I@  50,5 P;]3  I@50 I@ ##$$  H@48H@  48,3 P;^3  H@48 H@ ##$$  F@45F@  45,0 [;_3  F@45   F@ ##$$  0  0HHYarafhiWopinbera,Ahluti }s2`HH ##$$  @@33@@  }33,8 Pa3  @@33 @@ ##$$  ?@31?@  31,0 Pb3  ?@31 ?@ ##$$  <@28<@  28,5 Pc3  <@28 <@ ##$$  ;@27;@  27,3 Pd3  ;@27 ;@ ##$$  9@259@  25,0 [e3  9@25   9@ ##$$ 0  0HHYaraffyrirtkihinsopinbera s2fHH##$$  :@26:@26,0 Pg3  :@26 :@##$$  8@248@24,0 Ph3  8@24 8@##$$  6@226@22,0 Pi3  6@22 6@##$$  5@215@21,0 Pj3  5@21 5@##$$  4@204@20,0 [k3  4@20   4@##$$  *Heildarskuldir,aWfrtldumlfeyrisskuldbindingumogviWskiptaskuldumogaWfrdregnumsj;Wumog l bankainnstWum,sbr.7.gr.laganr.123/2015,umopinberfjrml.F<:cm     ##$$ F # A#  "i0J"  i0J?2%  1  .3  Ԉ0    AfgangurverWiheildarjfnuWihinsopinberatmabiliW2018!2022,semverWiaW !n lgmarki1,4%afvergrilandsframleiWslu(VLF)riW2018,1,2%afVLFriW2019, !o 1,1%afVLF2020og1,0%afVLFriYareftir.i0J??݌"p Ќ  "i0J"  i0JA2%  2  .3  Ԉ0    HeildarskuldirhinsopinberaverWikomnarundir30%afVLFrslok2020ogverWi #Wq ekkihrrien25%afVLFrslok2022.i0JAA݌J$" r Ќ  "i0J"  i0JC2%  3  .3  Ԉ0    Heildartgjldhinsopinberavaxarinu2018um0,6%afVLFfrfyrrari.Xr;un % s umfangistarfsemihinsopinberattmabiliWverWimeWYeimhttiaWYaWstuWliaW %!t efnahagslegumstWugleika.i0JCFC݌&"u Ќ    AlYingistaWfestiraWfjrmlastefnaYessissamkvmYeimgrunngildumogskilyrWum v'N#v semkveWiWerum2.mgr.6.gr.og7.gr.lagaumopinberfjrml. A($w 9 y_   #dgg  GreinargerW.#ggdKF  ]F  MeWfjrmlastefnutilnstufimmraerm;tuWstefnaumafkomuogskuldaYr;un  opinberraaWilaheild,Y.e.Ahlutarkisogsveitarflagaogstofnana,sj;Waogfyrirtkja a Yeirra.MarkmiWstefnunnarerfyrstalagiaWstuWlaaWsjlfbrniogstWugleikaopinberum T, fjrmlumtilskemmrioglengritma.0annanstaWbernauWsyntilYesshagstj;rnarlegu  tillitiaWfjrmlastefnahinsopinberaogpeningamlastefnaSeWlabankansstuWlisamhliWaaW  markmiWiumjafnvgiYj;WarbskapnumsemflestumsviWum.Framlagning   fjrmlastefnuleiWirjafnframttilfestuogfyrirsjanleikaumopinberfjrmlsemskapar  X traustariforsendurfyrirallatlanagerWogkvarWanatku,Y.m.t.umYrffyrirbreytingar K #  peningamlastefnunnihverjumtma.      FjrmlastefnuertlaWaWleiWaframst;rumdrttum,fyrstalagi,hvaWahagstj;rnarlegu    hrifverWiaffyrirtlunumumYr;unopinberrafjrmlameWhliWsj;naffyrirliggjandi   hagspmogWrulagi,hvernigstj;rnYeirramunisamrUmastbWigrunngildumborWviW wO  stWugleikaogtlulegumfjrmlareglum.0rlegrifjrmlatluneruhinsvegarp;litskar B  herslurogtlanirstj;rnvaldasettarframmeWmuntfrWarihtti,Yarsemm.a.komafram    formumtekjuflunogrWstafanirskattamlumsemoguppbygginguYj;nustukerfaog   innviWaogaWrarbreytingaropinberristarfsemi. {    MarkvissthefurveriWunniWaWYvaWtryggjasamstarfmillirkisogsveitarflagaviW nF undirbningstefnumrkunaropinberumfjrmlum.Srstakurvettvangur,samrWsnefndum 9 opinberfjrml,hefurveriWskapaWurtilaWeflasamrWogtryggjasamleitnitlulegri  greininguogverkferlum.MarkmiWumafkomuogskuldirsveitarflagafjrmlastefnunni  erusettaWundangengnusamrWiviWsveitarflgogtakamiWaffjrhagstlunumYeirra.0 r framhaldinuerstefntaWendurnUjunsamkomulagsviWsveitarflgaWdragandaaW e= framlagningufjrmlatlunarvorikomanda. 0   XauformsemfelastgerWfjrmlastefnubyggjastgreininguogspmumYr;un  hagstrWafimmrframtmann.:vissaumhagYr;uninaereWlimlssamkvmtmeiriYv  lengrasemYrninnframtWina.ReynslansUniraWforsendurkunniaWYr;astmeWWrum i httientlaWvar.XarafleiWandiverWuraWhafaYannfyrirvaraaWverulegrskun \4 slkumforsendumkannaWhafahrifhvortunntreynistaWnsettumafkomumarkmiWum, ' einkanlegaseinnihlutatlunarinnar.EnnfremurerrttaWgetaYessaWYaWfjrhagslkan  semveriWeraWm;tatilaWmetaafkomuogtlanirsveitarflagaogopinberrafyrirtkjayfir  rabilerennsmWumogaWmatgrundvelliYessernmtfyrirbreytingumforsendum. `    MeginstefnumiWfjrmlastefnunnareraWumtalsverWurafgangurverWiafkomuopinberra S+! aWilaheildtmabilinu,eWaum3%afVLFllrin,enYarafverWiafgangurAhlutarkis " ogsveitarflaga1,4%afVLFfyrstuenlkkismmsamanniWur1%.SamhliWaYessum # gtarangri,semertilYessfallinnaWhgjafremurenaWUtaundirframhaldandi  $ eftirspurnarvxthagkerfinu,verWurkleiftaWstyrkjagrunnYj;nustuoginnviWiogstuWlaaW !W% Yvafhlfustj;rnvaldaaWallirlandsmennnj;tig;WsafyfirstandandihagvaxtarskeiWi. J""&  UmgjrWstefnumrkunaropinberumfjrmlum.  #(   MeWlgumnr.123/2015,umopinberfjrml,vorulgfestkvWiumstefnumrkun $ ) opinberumfjrmlum.0lgunumerm.a.kveWiWumaWfjrmlaogefnahagsrWherraleggi v%N!* YvskynifyrirAlYingitvrYingslyktunartillgurtilfimmra,annarsvegar A&"+ fjrmlastefnu,semlgWerframafsrhverrinUrrirkisstj;rnoghelst;breyttyfirtmabiliW,  '", oghinsvegarergrunnihennarlgWframrihverjufjrmlatluntilfimmra,semlUtur '#- YarmeWrlegriendurskoWun. (z$.   MikilvgteraWstefnumrkunopinberumfjrmlumsheildstWogstyWjiviWalmenn ( hagstj;rnarmarkmiWsemsamstaWaaWgetanWstum.0lgumumopinberfjrmlfelstaW  stefnumrkuninskulintilhinsopinbera,Y.e.tilstarfsemiAhlutarkisogsveitarflaga  semfjrmgnuWermeWskatttekjum,ogeinnigtilfyrirtkjaopinberrieigu.MeWYvm;ti a verWurbeturkleiftaWmetaefnahagshrifafstarfsemiopinberraaWilaheild T, Yj;WarbskapinnogYarmeWaWbeitaopinberumfjrmlumYgusettra  hagstj;rnarmarkmiWa.XaWkallaraWalliropinberiraWilargangitaktogaWfjrlgrkisins,  fjrhagstlanirsveitarflaga,bWieinstakrasveitarflagaogYeirraheild,og   fjrhagstlanirflagaYeirraeigususamhfWarogmiWiaWsamamarki.  X Fjrmlastefna.      SamkvmtlgumumopinberfjrmlskalfjrmlastefnalgWframsvoflj;ttsemauWiW    ereftiraWrkisstj;rnhefurveriWmynduWenY;eigisWarensamhliWaframlagningunsta   fjrlagafrumvarps.HelstuefnisYttirhennarerueftirfarandi: wO  ! ! I(80_ikmo"i0J"  i0JLa2  i  .3  Ԉ0    FjrmlastefnanskalskilgreinamarkmiWervarWaumfang,afkomuogYr;uneigna,    skuldaoglangtmaskuldbindingahinsopinberaogopinberraaWilaheildtileigi   skemmritmaenfimmra.MarkmiWstefnunnarskulusettframsemhlutfllafvergri {  landsframleiWslu.i0JLaya݌nF Ќ  "i0J"  i0Jc2  ii  .3  Ԉ0    Fjrmlastefnanskalbyggjastgrunngildumumsjlfbrni,varfrni,stWugleika,festu 9 oggagnsi.HnskalennfremurmtaskilyrWumlagaumopinberfjrmlhvaWvarWar  tlulegarfjrmlareglurumYr;unafkomuogskulda.i0Jcc݌ Ќ    MegintilgangurfjrmlastefnunnareraWtryggjasjlfbrniopinberrafjrmlaogstuWla e= aWefnahagslegujafnvgitilskemmrioglengritmalitiW,enYaWerforsendafyrirstWugleika 0 efnahagfyrirtkjaogheimilaekkisWurenopinberraaWila.  Fjrmlatlun,frumvarptilfjrlagaogfjrhagstlanirsveitarflaga. i   grundvellifjrmlastefnuskallgWframAlYingieigisWaren1.aprlrhvert \4 fjrmlatluntilfimmrahiWskemmsta.HelstuefnisYttirfelasttfrslumarkmiWum ' fjrmlastefnunnarognnaristefnumrkunumYr;untekna,gjaldaogefnahagsopinberra  aWila,Y.e.AhlutarkisogsveitarflagaogfyrirtkjaYeirraeigu.0fjrmlatluner  jafnframtsettframsundurliWuWtekjutlunogtgjaldarammiogstefnafyrirhvert `  mlefnasviWAhlutarkissj;Ws.lyktunAlYingisumfjrmlatlunskallgWtil S+! grundvallarviWgerWfrumvarpstilfjrlaga,enennfremurberllumsveitarflgumskylda " tilaWfaraeftirfjrmlatluninniviWgerWfjrhagstlanasinna. # Fjrmlareglur;grunngildiogtlulegskilyrWi. !W%   0lgumumopinberfjrmlerkveWiWumfjrmlaregluraftvennumtoga.Einsog J""& WrumlndumertilgangurYeirraaWstuWlaaWstefnufestustj;rnopinberrafjrmla #' hverjumtma. #(   Annarsvegarerulgunumtilgreindfimmgrunngildi.XaukveWaummeginreglureWa $ ) viWmiWsemfylgjaberviWm;tunogframfylgdfjrmlastefnuogfjrmlatlana.Gildinfela v%N!* YarmeWsrskUraleiWsgnumskilegarforsendurogleitnikvarWanatkunnar.X;tt A&"+ grunngildinsniekkibeinlnisaWfyrirframkveWnumstrWargrWumtkomuopinberra  '", fjrmlaberaYauenguaWsWurmeWsrfremurskUraforskriftfyrirmatiYvhvortframlgW '#- fjrmlastefnaogtlunmiWarrttatt.TilaWsannreynagrunngildinerbWilitiWtilYess (z$. hvaWattkvarWanirleiWaframvinduopinberrafjrmlaogYesshvortverklagstj;rnvalda ( viWYrkvarWaniruppfyllitiltekinskilyrWi.SemdmiumhiWfyrrnefndaerumfjllunum  fjrmlastefnulagtmatYaWhvorthnersjlfbrYeimskilningiaWstj;rnarstefnanfeli  sraWtekjurmunistandaundirgjldumYannigaWekkiYurfiaWkomatilaukinnar a skuldsetningartillengritmalitiW.UmfjllunumYaWmatoglitaefnisemYvtengjast,hvort T, semerp;litskumvettvangieWahjfaggreinendum,grundvelliYeirrarmeginreglusem  felstsjlfbrni,stuWlaraWYvaWgildiWYj;niYannhttsemaWhaldstkieWafjrmlaregla.  SemdmiumhiWsWarnefndaerkrafalagannaumgagnsihvaWvarWarreikningshaldslega   framsetninguogupplUsingagjfumtlanagerWinaYvaWYaWerforsendafyrirYvaWunnt  X saWleggjaviWhltandimathvortfjrmlastefnastyrkireWadregurrsjlfbrniopinberra K #  fjrmla.      GrunngildinfimmsemgerWerkrafaumlgunumaWfjrmlastefnauppfyllieru    eftirfarandi:   ! !"i0J"  i0J u2  i  .3  Ԉ0    Sjlfbrni felstYvaWopinberarskuldbindingarsuviWrWanlegartilskemmriog B  lengritmaogsusanngjarnargagnvartkomandikynsl;WumogaWtryggtsaWhiW    opinberagetivalltstaWiWundirYeimkostnaWisemleiWirafkvrWunumog   rWstfunumYeirra,Y.m.t.vaxtabyrWi.SjlfbrnifelurennfremursraWhverkynsl;W {  eWaaldursh;purhagikvrWunumsemvarWaeiginefnaogfjrhagYannigaWhvorkis nF gengiWeignireWagWinkostnaWivarpaWkomandikynsl;WireWaafkomuog 9 lfsskilyrWumYeirrastefnttvsUnu.UmleiWsYessgttaWskapaWarsuforsendurfyrir  nauWsynlegriendurnUjunogvexti.i0J u:u݌ Ќ  "i0J"  i0Jry2  ii  .3  Ԉ0    Varfrni skalrkjatillengritmafjrmlumhinsopinbera,Y.e.aWvandaYurfitil r undirbningskvarWanasemYurfaaWveravelgrundaWarogstuddarafheildstWri e= httugreininguogmatihrifumtilskemmrioglengritma.XvberiaWforWast 0 kvarWanirsemhtterviWaWgetihaftfyrirsWareWa;fyrirsWarneikvWarafleiWingar  samflagslegutilliti.Einnig,aWhfilegtjafnvgisfyrirhendimilliteknaogtgjalda  semogmillieignaogskulda.i0Jryy݌i Ќ  "i0J"  i0J|LL2  iii  .3  Ԉ0    StWugleiki efnahagslegutillitierforsendaYessaWnUtavelmannafla,fjrmagnog \4 auWlindir.FjrmlastefnahinsopinberagegnirlykilhlutverkiYvaWskapaalmenningi ' ogfyrirtkjumYekktogreiWanlegskilyrWiaWYessuleyti.MeWstWugleikaogjafnvgi  hagstj;rnarlegutillitiskapastjafnframtforsendurfyrirvandaWritlanagerWog  kvrWunumalmennings,atvinnulfsoghinsopinberaogYarmeWfyrirYvaWtreysta `  almennavelferWoghagsld.i0J||݌S+! Ќ  "i0J"  i0J*XX2  iv  .3  Ԉ0    Festa YUWiraWmeWfjrmlastefnusemsettertilmeWallangsoglengritmaertefltfram " skUrumogeinfldummarkmiWumYeimtilgangiaWleitastviWaWskapafullvissuog # raunhfarvntingarumefndirogathafnirhinsopinbera(t.a.m.breytingartekjumog  $ gjldum).MeWWrumorWumberaWforWast;vntarogfyrirvaralitlarbreytingar. !W% FramfylgdfjrmlastefnuYarfaWstuWlaaWtrverWugleikaogkvarWanirumfrvikfr J""& markaWristefnuYurfaaWveramlefnalegarogvelgrundaWar.XarmeWskapastbetri #' forsendurfyrirYvaWtlanirogkvarWanirstandistogaWYrleiWitilbttrar #( meWferWaropinberrafjrmunaogfarsldarfyrirsamflagiWheild.i0J*W݌$ ) Ќ  "i0J"  i0J2  v  .3  Ԉ0    Gagnsi hefurmargYttaskrskotunentveirYttirvegaYyngst.Xettagildifelurfyrsta v%N!* lagisraWYauggnogupplUsingarsemfjrmlastefnanerreistsusettfram A&"+ samkvmtalYj;WlegaviWurkenndumreikningsskilastWlumogaWYausugerWopinber  '", ogaWgengilegmeWreglubundnumhtti.0Wrulagi,aWmarkmiWstefnunnarsu '#- auWskilinogaWeinfaltsaWleggjamatframvinduogframkvmdstefnunnarmeW (z$. reglulegumsamanburWiviWskUramlikvarWa.i0JԄ݌( Ќ    HinsvegarerlgunumkveWiWumtlusettamlikvarWaumafkomuogskuldastWu.  MlikvarWarnirgegnaYvhlutverkiaWsetjaytrivikmrkviWfrvikumfjrmlastefnuhins a opinberafrYeirristWusemtalinerskilegYeimskilningiaWhneinkennistsennaf T, jafnvgiogtakmarkaWrihttuaflangtmaskuldum.XessirtlulegumlikvarWarerufremur  skUrirogfyrirsjanlegirogeigaYvaWgetafalliWvelaWkvarWanatkuferlistj;rnvaldaum  Yr;unopinberrafjrmla,Y;ttvissulegaverWivalltfyrirhendiUmis;vissaoglitaefnisem   tengjastbreytilegumatiYj;WhagsstrWumogefnahagsspmframtmann.MsegjaaW  X YessartlusettureglurtiltakilgmarkskrfursemgerWarerutilYesshvernigopinberu K #  fjrmlinYr;ast.HinartlusettufjrmlareglursemlgfestarhafaveriWbirtasteftirfarandi    viWmiWum:    ! !"i0J"  i0JŒ2  i  .3  Ԉ0    Afkomureglu ,semkveWurumaWheildarjfnuWurhinsopinberayfirfimmratmabil wO  skulivalltverajkvWurogaWrlegurhalliheildarjfnuWiverWialdreimeirien2,5% B  afVLF.i0JŒ݌   Ќ  "i0J"  i0J2  ii  .3  Ԉ0    Skuldareglu ,semkveWurumaWheildarskuldirhinsopinbera,aWfrtldum   lfeyrisskuldbindingumogviWskiptaskuldumogaWfrdregnumsj;Wumog {  bankainnstWum,verWilgrien30%afVLF.i0Jˎ݌nF Ќ  "i0J"  i0JLL2  iii  .3  Ԉ0    Skuldalkkunarreglu ,semkveWurumaWskuldirskulilkkauma.m.k.5%afYv 9 sembermilliheildarskuldaogskuldahmarks(sbr.2.tlul.)aWmeWaltalirlega  hverjuYriggjaratmabili.i0J݌ Ќ  EfnahagslegstaWaoghorfur.  e=   FjrmlastefnanbyggistYj;WhagsspHagstofu0slandsfrn;vember2017,semnrtil 0 ranna2017!2023.VerteraWnefnaaWfjrmlastefnanbyggisthagfelldrihagspfyrirallt  sptmabiliW,Y;aWhagvxturnsturaverWilluminnienrinu2016Yegarhannvar  7,4%.GerterrWfyriraWhagvxturverWi4,9%yfirstandandiriogaWuppsafnaWur i hagvxturyfirgildistmastefnunnarverWirflega14%.VarWandiumsvifogafkomuhins \4 opinberabyggisthagspinYeirrifjrmlatlunsemsamYykktvarAlYingijnsl. '   AukinntflutningurhefurveriWeinhelstadriffjWurhagvaxtarsWastliWinnara.Btflutt  Yj;nusta,einkumferWaYj;nusta,hefurvaxiWkrftuglegaogafgangurhefurveriWafvruog  Yj;nustuviWskiptumYrttfyriraukinnvruinnflutningsamhliWavextikaupmttarog `  gengisstyrkingu.GerterrWfyriraWnokkuWdragiraukninguinnogtflutningsnstu S+! rumenaWviWskiptajfnuWurverWiframjkvWurogmikill,eWaum3,6%rifr2018til " 2023. #   UppgangursWustumisserahefurUttundirfjrfestinguhagkerfinu.Fjrfesting  $ atvinnuvegannahefurvaxiWmjghrattsWastliWinrogfjrfestingbWarhsnWit;k !W% verulegaviWsrriW2016.GerterrWfyriraWfjrfestingmunivaxaum21%fr2018til J""& 2023.VxturfjrfestingartilskammstmaverWurborinnuppiaffjrfestingu #' bWarhsnWi.FjrfestinghinsopinberavaraWmeWaltalium2,9%afVLFrifr2010til #( 2016oggerterrWfyriraWhlutfallhennarverWihiWsamaaWjafnaWiframtil2022,Yannig $ ) aWfjrfestinginhaldiviWhagvxtinnogvxturhennarverWiaWmeWaltali5,2%ri v%N!* tmabilinu.Samkvmthagspnnidregurrst;riWjutengdrifjrfestingunsturum,en A&"+ atvinnuvegafjrfestingeykstnUundirlokgildistmafjrmlastefnunnar.  '",   XrttfyrirtluverWaspennuhagkerfinuogverulegarlaunahkkanirundanfrnumrum '#- hefurverWb;lgaveriWundirmarkmiWiSeWlabankanstpfjgurr.HagfelldytriYr;un,svo (z$. semlgverWb;lgaviWskiptalndumoggengisstyrking,hefurhaftsittaWsegjaYv ( samhengi.XhafavextirlkkaWum1,5pr;sentustigfrYvfyrirumrisWan.Hagspin  gerirrWfyriraWverWb;lgaverWiviWeWaltillegayfirmarkmiWifr2018ogtsptmabiliW,  Y;velinnanvikmarkaverWb;lgumarkmiWsins.0okt;ber2017vargengisvsitalanmjg a svipuWYvsemhnvarupphafirsinsengengiWhafWiYstyrkstumu.Y.b.17%fr T, rsbyrjun2016.0spHagstofunnarermiWaWviWaWgengisvsitalanverWisvipuWt  sptmabiliW.    EfnahagslegumuppgangisWusturahefurfylgtaukinspurneftirvinnuaflioghefurhenni   veriWmttmeWaukinniatvinnuYtttkuoginnflutningivinnuafls.Semstendurerhlutfall  X erlendsstarfsf;lksafvinnuaflium12%slenskumvinnumarkaWi,enfyrirfjrmlafalliW K #  varWhlutfalliWhst10%jn2008.HagspingerirrWfyriraWatvinnuleysimuniaukast    hgumskrefumtsptmannogverWa4%viWlokhans.      MikilsamkeppniumvinnuaflermeWalYeirraYttasemleitthafatilverulegra   launahkkanahrlandisWustur.LaunavsitalanhkkaWium11,4%riW2016,en wO  hkkuninstefnir6,8%riW2017.GangihagspineftirmunuppsfnuWhkkun B  launavsitlunnarfr2018til2023verWarm33%.SWustumisserihefurverWb;lgahaldist    lgogYvhefurkaupmtturlaunavaxiWhratt.Einkaneyslahefuraukistverulegasamfara   vaxandikaupmttiogveriWmeWalveigamestuYttamikilshagvaxtar.GerterrWfyriraW {  hnaukistum7,8%riW2017,5,3%riW2018ogaWmeWaltali2,9%riseinnihluta nF gildistmafjrmlastefnunnar. 9   0stuttumliergertrWfyriraWhagvxturmunifarahjaWnandifrYvsemveriWhefuren  verWiframstyrkur.VxturinnverWiauknummlidrifinnframaffjrfestinguog  einkaneyslu,fremurentflutningieinsogveriWhefur.SpennahagkerfinuminnkisamhliWa r YvaWatvinnuleysiogverWb;lgaaukistltillega. e=   GangiYj;WhagsspinsemfjrmlastefnanbyggisteftirverWurhagvxturtgildistma 0 stefnunnarumtalsverWurogYarmeWyrWinverandihagvaxtarskeiWYaWlengstasgunnief  miWaWerviWhagvxtmann.VarlegteraWgerarWfyriraWbrugWiWgetitafsvojkvWum  horfumogYv;skaWifjrmlaogefnahagsrWuneytiWeftirYvviWHagstofu0slandsaWgerW i yrWisrstkfrviksspYarsemmiWaWvriviWvarfrnarisviWsmyndengrunnspnnifr \4 n;vembersl.VsbendingarumaWfariWsaWdragarvextihagkerfisins,Y;tttlitsfyrir ' aWhannverWiframallnokkur,Y;ttuennfremurgefatilefnitilYess.0frviksspnniergert  rWfyriraWvxturYj;nustutflutningsverWimunminniengrunnspnni,  atvinnuvegafjrfestingdragistnokkuWmeirasamannstutvr,aWvinnuaflsnotkunverWi `  minnioglaunahkkanirnokkrulgriengrunnspingerirrWfyrir.Samkvmtfrviksspnni S+! yrWihagvxturrmlegapr;sentustigiminniriW2018engrunnspHagstofunnargerirrW " fyrir.NeikvWhriftekjuflunrkissj;WsmyndusegjatilsnogyrWuviWvarandit # tmabiliW.NUYj;WhagsspSeWlabanka0slandsvarbirt15.n;vembersl.,enhenniergerter  $ rWfyrirumtalsvertminnihagvextiriW2017enHagstofangerirrWfyrir,eWa3,7% !W% samanboriWviW4,9%.MeWYj;WhagsspnnibirtiSeWlabankinneinnigfrviksspsemerYekk J""& sviWsmyndinnisrstkufrviksspnnisemrWuneytiWltgera. #'  Efnahagslegrlausnarefni. $ )    UppgangursWastliWinnarahefurheildinalitiWeinkennstafmeiristWugleikaenfyrri v%N!* vaxtartmabil.XerhttanofhitnunhagkerfinuaWllumlkindumminninenhnvar A&"+ viWsamYykktsWustufjrmlastefnu,sembirtistm.a.nUlegumstUrivaxtalkkunum  '", SeWlabankans.MikilframleiWsluspennaerennYfyrirhendiogYvmikilvgtaWreksturhins '#- opinberatilskammstmaUtiekkifrekarundirYensluhagkerfinumeWeftirspurneftir (z$. framleiWsluYttumsemeruafskornumskammti.ViWnverandiskilyrWierbrUntaW ( efnahagsstefnastj;rnvaldastuWliaWjafnvgihagkerfinuviWtraustanenhgarihagvxt.  m;tiauglj;sumrkumfyriraWhaldssamrifjrmlastefnuveguruppsfnuWYrf,sembyggst  hefuruppundanfrnumrum,fyrirfjrfestingarUmsumsviWum.TmasetningogeWli a slkrafjrfestingaerlykilatriWi. T,   MargtjkvtthefurunnistefnahagslegutillitisWusturum:erlendstaWaYj;Warbsins  hefuraldreiveriWbetri,skuldirfyrirtkjaogheimilahafafariWlkkandi,skuldirrkissj;Ws  ogsveitarflagahafalkkaWumtalsvert,nUstrfhafaorWiWtilogkaupmttur   rWstfunarteknahefurvaxiWsemaldreifyrr.0slanderhinsvegarmjgopiWogsmtt  X hagkerfimeWsjlfstWamyntogYvtsettfyrirsveiflumogfllum.MeginstoWir K #  efnahagskerfisinserufarognmarfyrirytriskilyrWum.MeginmarkmiWefnahagsstefnunnar    hlUturYvaWveraaWviWhaldaogtreystaefnahagsleganstWugleikaogskapaforsendurtil    vaxtarogfjlbreytniefnahagslegutilliti.   VinnumarkaWur. B    KjarasamningaropinberumogalmennummarkaWiverWalausirnstumisserumog    vntanlegaaftursWarihlutagildistmastefnunnar.0gegnumtWinahafakjarasamningar   ogvinnudeilurstundumleittafsr;stWugleikaslenskuhagkerfi.SagansUniraW {  kaupmttaraukninghefurekkialltafhaldisthendurviWlaunahkkanirhrlandi.KallaW nF hefurveriWeftirsamrmdriaWferWafrWiviWgerWkjarasamningaenennsemkomiWerhefur 9 ekkinWststtumbreyttskipulagogsamrmdviWmiWumlaunabreytingarfyrir  vinnumarkaWinnheildlktogYekkistannarsstaWarNorWurlndunum.  FramleiWnioglaunaYr;un. e=   RaungengimlikvarWalaunahefurhkkaWverulegasWastliWinrsemdregurmjgr 0 samkeppnishfnitflutningsgreina,srstaklegaYeirrasemerumeWhlutfallslegahan  launakostnaW,svosemnUskpunarogtknigreina.0sWustukjarasamningslotuvarsamiW  umlaunahkkanirsemvoruverulegaumframframleiWnivxtenslkYr;uner;sjlfbrtil i lengritmalitiW.VegnahagfelldraytriskilyrWarttustekkisprum;lguefnahagsmlum \4 kjlfarsvomikillalaunahkkana.XauytriskilyrWieruekkisambrilegumYessarmundir ' ogYverYaWmikilvgtmarkmiWaWviWhaldaefnahagslegumstWugleikaogverjaY  kaupmttaraukningusemorWiWhefurundanfrnumrumkomandikjarasamningumsamt  YvaWstyrkjaflagsleganstWugleika. `  Skilvirkopinberstarfsemi. "   StarfsemihinsopinberaYarfaWveraskilvirkogYaWviWumbWiYj;nustuog # stj;rnsUslu.ForgangsrWuntgjaldaYarfaWveraskipulegogmarkvisstilaWhgtsaWmta  $ vaxandiYj;nustukrfumognUjumYrfumsamrmiviWp;litskarherslurogmarkmiW !W% stj;rnvaldahverjumtma.lltgjldYarfaWendurmetareglulega.Xert.d.lj;staW J""& tekjuflunarkerfihinsopinbera,semstandaeigaundirsamneyslunni,eruummargtvanbin #' tilaWbregWastviWbreytingumviWskiptahttumYarsemviWskiptieruauknummlirafrn #( og;hWlandfrWilegriafmrkun. $ ) FlagslegvelferWogjfnuWur. A&"+   SveigjanlegurvinnumarkaWurhefurveriWtalinnmeWalstyrkleikaslensksefnahagslfs.  '", XeirsemhingaWkomaerubWif;lksemferWastmillilandaYarsematvinnueraWfinna '#- hverjusinniogeinstaklingareWafjlskyldursemhafahyggjuaWfestahrrtur.Xhefur (z$. fjldiums;knaumhlihrlandivaxiWrfrri.Tmsarflagslegarskoranirgetafalist ( fjlgunnUrrabaogafarmikilvgteraWsamYttingYeirraviWslensktsamflagverWi  farsl.TilaWmyndahefuratvinnulausummeWerlentrkisfangfjlgaWmunhraWaren  erlendumaWilumvinnumarkaWieWasemhlutfallafheildarmannfjlda.Flagslegar a skoranireinskorWastekkiviWinnflytjendurhrlandiYvaWviWkvmirh;par,borWviW T, f;lkmeWfknivanda,heimilislausa,f;lkmeWgeWraskanirogaldraWa,erulklegirtilYessaW  einangrastfrsamflaginuefekkiervelaWgtt.XhefurnUgengirorkuhrlandivaxiW  tluvertogYeimsemerumeW75%rorkumathefurfjlgaWum80%fraldam;tum.Brn   YeirrasemeruYessumsamflagslegajaWarsettuh;pumerusrstaklegaberskjlduWog  X rWandieraWtryggjaaWYauogforeldrarYeirranj;titkifrasemstuWlaaWflagslegum K #  hreyfanleika.0lj;sifyrirsjanlegrarldrunarYj;WarinnarertilmikilsaWvinnaaWtryggjaaW    semflestirhafikostYvaWtakaYttsamflaginumeWtillititilgetu,tilaWmyndameW    starfsendurhfingarrrWumogefldrigeWheilbrigWisYj;nustu.   BsetuYr;unoghsnWismarkaWur. B    0nokkurntmahafafleirifluttfrlandsbyggWinnihfuWborgarsvWiWenfr    hfuWborgarsvWinutland.MikillskorturhefurveriWvinnuaflioghefurinnflutt   vinnuaflmttmannaflaYrfbyggingariWnaWiogferWamannastarfsemi,semer {  langumsvifamesthfuWborgarsvWinuY;ttvxturinnsvWar.Aukineftirspurneftir nF hsnWihfuWborgarsvWinuogminnaframboWvegnaskammtmaleigutilferWamannaog 9 ltillarfjrfestingarbWarhsnWisWastliWinrhefursettmarksittfasteignamarkaWinn  sWustumisserin.Kaupmttaraukning,lgravaxtastigogaukinsamkeppni  fasteignalnamarkaWihefurjafnframtUttundirverWhkkanirfasteignamarkaWi.StaWayngri r kynsl;WahsnWismarkaWiersrstaktrlausnarefniYvsambandi. e= GengisYr;unogutanrkisviWskipti.    AfgangurafutanrkisviWskiptumhefurveriWgrundvllurefnahagsbatasWastliWinnara,  enviWsnningurgtiorWiWYeimeinkarhagfellduviWskiptakjrumsemYj;WarbiWhefur i biWviW.TeikneruloftiumaWsamkeppnisstWutflutningsgreinas;gnaWvegnasterkara \4 raungengissamatmaoginnflutningurfervaxandi.ViWsnningurutanrkisviWskiptum ' gtileitttilefnahagssamdrttarog;stWugleika.OrsakiroghrifsveiflnahefWbundnari  greinumeruallvelYekkt,enlj;steraWstj;rnvldYurfaaWveraviWYvbinaWkomiWgeti  tilsamdrttareWasveiflnayngrivaxtargreinum,t.a.m.ferWaYj;nustu. `  LUWfrWilegarbreytingar. "   Frj;semihrlandihefurfariWminnkandi,lktogflestumWrumvestrnumrkjum. # F;lkaldrinum18til66ravarsextilsjsinnumfleiraenf;lkeftirlaunaaldrihrlandi  $ tplega40ratmabili,eWafr1975til2011.riW2017stefniraWhlutfalliWverWi5,3og !W% 4,6riW2022.XaWverWaYvfrrivinnandieinstaklingartilaWstandaundirYj;nustuviWY J""& semlokiWhafastarfsvinniogmunhrifaafYessariYr;ungtaauknummligildistma #' fjrmlastefnunnar.Hlutfallslegrifjlguneldraf;lksfylgirmeirikostnaWur #( heilbrigWiskerfinu,endahkkarmeWalkostnaWureinstaklingmjgmeWhkkandialdri. $ ) MeWalkostnaWurvegnaeinstaklingasemerueldrien65raeraWmeWaltalifj;rfalthrrien v%N!* meWalkostnaWurvegnaYeirrasemyngrieru.AWWru;breyttumunrekstur A&"+ heilbrigWiskerfisinsogvelferWarYj;nustaYvverWadUrari.Xmunutgjldtil  '", almannatryggingavaxameWstkkandih;piellilfeyrisYegaogefryrkjumfjlgarlktog '#- gersthefur,ensWanlkkanUsamkvmttlunumeftirYrjtilfj;raratugivegna (z$. aukinnagreiWslnaralmennumlfeyrissj;Wum. ( TkniYr;unognUskpun.    FramfarirtkniogvsindumhafaveriWmiklaroghraWaroggetasamflagatilaW a hagnUtaYrmunrWamikluumefnahagslegaYr;un.LndsemekkihaldaviWframvindu T, tkninnarmunugjaldaYesssamkeppnislegutilliti,enaWsamaskapifelastYr;uninninU  tkifritilvaxtarogbttrarnUtingarframleiWsluYttanna.Fyrirtkimunuauknummli  YurfaaWbasigundiralYj;WlegasamkeppniogtilaWYeimreiWivelafYurfaYauhagfelld   starfsskilyrWi,Yekkingu,menntaWstarfsf;lkogaWgangaWmrkuWum.TknivWingmun  X hafaveruleghrifYr;unatvinnuhtta,vinnumarkaWinnoglfskjr,jafnveltilmeWallangs K #  tmalitiW.FjrfestingYekkingarinnviWumgeturskiptskpumfyrirYr;unframleiWslugreina    ogundirstWurvelferWar.    Styrkurefnahagurhinsopinbera. wO    XaWhefurmiklaefnahagslegaYUWinguhvernigopinberumfjrmlumerhagaW. B  Rkissj;WurYarfaWverafrumaWstyWjaviWendurreisnefnahagslfsinsefhrverWaveruleg    fll.0Yvskynierauglj;slegaskilegtaWhaldaframaWgreiWaniWurskuldir,srstaklega   Yegarvelrar,ogeinnigerugildrkfyrirYvaWbyggjauppYj;Warsj;W(e.SovereignWealth {  Fund).HvorttveggjaskaparefnahagslegtryggitilframtWarlitiW. nF Sjlfbrvxtur.    StefnaskalaWstWugleikaefnahagsmlummeWhagstj;rnsemstyWurviW  peningastefnunaogstuWlaraWsjlfbrni,fjlbreyttriatvinnustarfsemiogalmennrivelferW. r XstyWurYaWviWstWugtefnahagslfaWspornagegn;h;flegriskuldsetninguhinsopinbera e= ogeinkaaWila.EfnahagslegsjlfbrniverWurekkitryggWtillengri,tmanemanUting 0 auWlindaogumhverfisYttirltisj;narmiWumtilskemmrioglengritmalitiW,semfelasr  aWnttrulegumgWumsekkif;rnaWfyrirskammtmavinningogaWhnignun,semt.d.  birtisthitastigsbreytingum,loftgWumogmengunsjvar,sstWvuW.EWliYeirra i viWfangsefnakrefstYessmrgumtilvikumaWrkiheimsbeitisrsameiginlegafyrir \4 viWeigandilausnum. '  Stefnumrkunopinberumfjrmlum.     XaWermarkmiWfjrmlastefnuYessararaWtryggjahfilegtjafnvgimilligjaldaogtekna `  hinsopinberasamtmisYvsemstefnanskapitraustarforsendurtilaWefnaformogstyWja S+! viWYaup;litskumarkmiWsemrkisstj;rninhefursammlstumogframkoma " samstarfssttmlahennar.StaWarkissj;WsertraustarienhnhefurveriWumrabilogYr # horfur,semlgbj;WaaWstefnumrkunopinberumfjrmlumskuligrundvallast,eru  $ jkvWar,Y;ttrttsaWtakaalvarlegaogbregWastviWteiknumumaWhgjamuni !W% efnahagslfinunsturum.BatnandistaWarkissj;WsernUtttilaWstyrkjainnviWi,bWi J""& flagslegaoghlutbundna,umleiWogherslaerlgWaWtgjaldastefnantryggi #' velferWarYj;nustubreiWumgrunniogstuWliaWjfnuWiogsamflagslegristt.XesserY; #( framgttaWhaldaframniWurgreiWsluskuldaYannigaWrkissj;WurverWirugglega $ ) frumtilaWbregWastviWsamdrttieWafllumsemkunnaaWdynjayfirfyrirvaraltiW. v%N!* LkkunskuldaerennfremurrttltismlgagnvartYeimsemellavrigertaWberaYr,Y.e. A&"+ Yeimsemyngrieru.StefnanerYveWlisnuvarfrinoghnstyWurviWmarkmiWum  '", sjlfbrnimarghttuWutilliti.UppbyggingXj;Warsj;WstilaWmta;fyrirsWumfllumsem '#- fjrmagnaWurverWurmeWreglulegumarWgreiWslumflagarkiseigu!enYeimhefurveriW (z$. gefinng;WurtmitilaWtreystaefnahagsinnoggetutilaWgreiWaarW!miWaraWsamamarki. (   AfkomumarkmiWfjrmlastefnunnartakabreytingumfrfyrristefnuogtlunumen  framergertrWfyriraWafkomarkisogsveitarflagaskilig;Wumafgangiyfirallttmabil  stefnunnarY;ttltillegadragirhonumerlWur.TiltvennseraWlta:Annarsvegargera a efnahagssprrWfyrirheldurdvnandihagvextiYegarlitiWertilnsturaoghorfureruum T, margttvsUnnienWur,svosemervarWarviWskiptajfnuWogYr;untflutnings,Y  einkanlegaYj;nustugreina.HinsvegarendurspeglarmarkmiWssetninginbreyttarherslur  nUrrarrkisstj;rnar.UmYrbreytingarervsaWtiltarlegsstj;rnarsttmla.   Afkoma2018!2022. K #    LktogWurhefurkomiWframermegintilgangurfjrmlastefnunnaraWtryggjasjlfbrni    opinberrafjrmlaogframhaldandistWugleikaogjafnvgihagkerfinu.Samkvmt    nverandihorfumefnahagsmlumogopinberumfjrmlumerusettYaumarkmiWmeW   stefnunniaWheildarafkomaAhlutarkissj;WsverWi1,2%afVLFrinu2018eWa0,2% wO  hrrisamanboriWviWfjrlgrsins2017.StefnangerirsWanrWfyrirframhaldandi B  h;flegumogviWvarandiafgangiyfirallttmabiliWY;ttsmmsamanverWidregiWrafgangi    rkisfjrmlannasamhliWaYvsemdregurrYensluhagkerfinu.XannigverWiafkomanekki   lgrien1%afVLFriW2019ogekkilgrien0,8%afVLFloktmabilsins. {  AfkomumarkmiWrkissj;WssvarartilYessaWafgangurafrekstrirkissj;WsverWiaWjafnaWi nF 26!33ma.kr.rieWarflega140ma.kr.uppsafnaWyfirtmabiliW.Gangihagspreftirkann 9 aWskapastsvigrmtilYessaWreksturrkissj;Wsskiliafgangiafheildarafkomunni  tmabilinusemverWihrrienYaWlgmarksemstefnanmlirfyrirumaWnWskuli.    umliWnumrumhafafjrmlsveitarflagafrsttilbetrivegarsemekkisstmrekja r tilYeirrafjrmlareglnasemsettarvoruriW2011sveitarstj;rnarlgumogertlaWaW e= tryggjasjlfbrnieinstakrasveitarflagatillengritma.rinu2016varheildarafkoma 0 sveitarflagajkvWogergertrWfyriraWreksturYeirraverWijafnvgiriW2017.0lj;si  efnahagshorfaogfyrirsjanlegsvaxtartekjumsveitarflagaerstefnunnisettYaWmarkmiW  aWsveitarflginskiliafgangiheildarafkomusemnemia.m.k.0,2%afVLFaWjafnaWiri i tmabilistefnunnareWasemsvarartil5!6ma.kr.rlega.XettamarkmiWumafkomubyggist \4 undangengnusamrWisrstkumsamrWsvettvangimillirkisogsveitarflagaYarsem ' framverWurunniWaWYvaWbtasameiginlegtmatYr;unfjrmlasveitarflagatillengri  tmalitiW.    0stefnunniersettmarkmiWumaWafgangurheildarafkomufyrirtkjahinsopinberaS #  1       `  verWi1,5%afVLFriW2018.GerterrWfyriraWafkomanfarismmsamanbatnandiog S+! verWium2%afVLFsWarihlutatmabilsins. "   AWteknutillititilafkomuopinberrafyrirtkjagerirstefnanrWfyrirYvaWheildarafkoma # opinberraaWilaheildverWium3%afVLFtmabilistefnunnarmiWaWviWfyrirliggjandi  $ hagspr.XaWsvarartilYessaWafgangurinnsaWjafnaWium90ma.kr.ritmabili !W% stefnunnar. J""& Tekjuogskattastefna. #(   undanfrnumrumhafaveriWgerWarUmsarbreytingarskattaumhverfinutilhagsb;ta $ ) fyrireinstaklingaogfyrirtki.XaWhefurveriWeinfaldaWmrgumsviWumogsamhliWaYv v%N!* hefurskilvirkniYessaukisttilmuna.XessarbreytingarhafasamtUmsumytrihrifum,svo A&"+ semgengisYr;un,tttalsverWanYttauknumkaupmttirWstfunartekna.MYarnefna ( lkkanirtekjuskattieinstaklinga,semvorum.a.kveWnarsamrWiviWaWila  vinnumarkaWarinstengslumviWgerWkjarasamninga,ogeinnigniWurfellinguvrugjaldaog  tolla.Xhafaslenskstj;rnvldtekiWvirkanYttalYj;Wlegusamstarfigegn a skattundanskotumogskattsvikumogsamYykktalYj;WasamningaumfrekaribarttuYessu T, sviWitilframtWar.RkurviljierfyrirhenditilYessaWeflaskatteftirlitogranns;knirsemliW  YvaWtryggjaskilvirkaogsanngjarnaskattframkvmd.    FramundanernUlotakjarasamningaYarsemheildarsamtkopinberumogalmennum   vinnumarkaWifreistaYessaWnniWurstWuumkjaramltilnstura.Lj;steraWmeW  X sterkaragengislenskukr;nunnarogauknumlaunakostnaWiundanfarinrhefurdregiWr K #  samkeppnishfnislensksatvinnulfs.XessagtirnYegarafkomutlumfyrirtkjasem    standavafalaustmrgframmifyrirkvrWunnhvorthkkaYurfiverWvrueWaYj;nustu.    MarkmiWstj;rnvaldahlUturaWveraaWstyWjaviWbetralangtmajafnvgisamatmaog   kjarasamningarskililaunaf;lkiraunverulegumvinningiogYvermikilvgtaWstaWinns wO  vrWurumYkaupmttaraukningusemorWiWhefurundanfrnumrum. B    UmfangogtmasetningaraWgerWaskattamlumverWaaWrWastafUmsumYttum,svo    semframvindukjarasamningavinnumarkaWi,stWufjrmlumhinsopinberaog   efnahagshorfumhverjumtma.MeWalYesssemrkisstj;rninhorfirtilerlkkun {  tekjuskattieinstaklinganeWraskattYrepikjrtmabilinuYeimtilgangiaWstyWjaviW nF byrgakjarasamningagerW.XerjafnframtstefntaWYvaWlkkatryggingagjald.SamhliWa 9 YessumskattkerfisbreytingumerstefntaWYvaWrWastaWgerWirtilaWeflaflagslegan  stWugleika.ViWkvarWanirYessumefnumverWurYessgttaWteflaekkitvsUnu  efnahagslegumstWugleikaeWamarkmiWumfjrmlastefnunnar.UmleiWverWurstuWlaWaW r YvaWskattabreytingarvinniekkigegnmarkmiWumumsveiflujfnunYgustWugleika. e=   SamkvmttekjutlunfjrlagafrumvarpsfyrirriW2018erreiknaWmeWaWheildartekjur 0 rkisinsnemi30,8%afVLFrinu2018.XergertrWfyriraWheildartekjursveitarflaga  verWinlgt13,1%afVLFsemYUWiraWheildarumfanghinsopinberaverWitp43%afVLF  metiWmlikvarWatekna.tmabilinu2019!2022eralmenntgertrWfyriraWtekjurhins i opinberavaxiaWmikluleytitaktviWnafnvxtVLFogverWiaWjafnaWisvipaWhlutfallaf \4 VLFogrinu2018.XaWsvarartilnlgt67ma.kr.rlegrartekjuaukningarsemskiptist ' millirkisogsveitarflaga.  Btgjaldastefna. `    undanfrnumrumhefurvxturtgjaldahinsopinberaveriWumtalsverWureftirtmabil S+! mikilssamdrttarsemreyndist;umflUjanlegureftirfordmalausfllopinberfjrml " kjlfariWfallibankakerfisinssWastaratug.Xennanvxttgjaldamm.a.rekjatil # launahkkanasamkvmtkjarasamningum,eneinnigtilaukinnaframlagatilhelstu  $ rekstrarmlaflokkarkisins,svosemtilheilbrigWismlaogalmannatrygginga.Xessi !W% raunvxturtgjaldarkissj;Wshefurbirstfjrlgumundanfarinnara,enafkomarkissj;Ws J""& hefurenguaWsWurveriWjkvW.HelgastYaWannarsvegarafviWvarandiaukningutekjum #' rkissj;WsoghinsvegaraflkkandivaxtagjldumsemhafaskapaWsvigrmfyriraukningu #( annarratgjalda. $ )   HkkuntgjaldastigsinsgeturekkitalistmarkmiWsjlfusrogaukintgjldfelaekki v%N!* srtryggingufyrirbttriYj;nustueWaaukinnivelferW.tmumsamdrttarogaWhalds A&"+ starfsemihinsopinberaberbrUnanauWsyntilYessaWfjrmunumsveitttilYeirraverkefna  '", semYrfusterutalin,Y.e.aWforgangsrWunsvirkogaWskiptingtgjaldaskvrWuW '#- skUrumogvelskilgreindumforsendum.XaWekkisWurviWuppgangstmumYegartgjld (z$. hinsopinberahafavaxiWrfrriogkrfurumaukinfjrtltntilflestrasviWaopinberrar ( starfsemi.AWYessumarkmiWi,Y.e.aWtryggjavirkayfirsUnogYarfagreiningu,og  grundvellihennar,aWgreiWafyrirskUrrip;litskriforgangsrWun,verWurunniWgildistma  fjrmlastefnunnar.HafinnerundirbninguraWYvaWframfarikerfisbundingreiningog a endurmattgjldumrkissj;WsogaWYaWmatverWiinnleitthefWbundiWtlanaferlifyrir T, rkissj;W.MetaYarfranguroghrifogskilgreinahvaWaverkefnieruYarfarifyrirsamflagiW  ennnuroghvaWmegigerabetur.SjlfvirknitgjldumerekkitilYessfallinaWtryggja  almennavelferWheldurverWuraWforgangsraWaverkefnummeWvirkumhttiYgu   skilgreindramarkmiWaaWundangenginnip;litskriumfjllunAlYingis.  X   UmleiWoghorftervttyfirsviWiWYarfaWhyggjaaWalmennrihagrWinguYrengra K #  samhengirkisrekstrarins.undanfrnummisserumhefursj;numveriWbeintaW    afmrkuWumYttumsemgetahaftverulegaYUWingu.MYarnefnaaWg;Wurrangurhefur    nWstaWtryggjavinningtboWumoginnkaupumrkisins!vinningsemtlaWeraWleiWa   tilYessaWbeturverWikomiWtilm;tsviWbrUnar;skirogYarfir.framverWurunniWYeirri wO  brautaWtryggjabyrgarWstfunopinberrafjrmunaogersrstakttak,semnefnthefur B  veriWBetrirekstur,undirbningiYvskynienYvertlaWaWstyWjaviWumb;taog    hagrWingarstarfopinberrastofnana.     Samneyslutgjld,Y.e.launogvruogYj;nustukauphinsopinbera,eruhttYrrfimmtu {  hlutatgjaldahinsopinberaogstandaundirumfimmtungiafframleiWsluhagkerfisinsog nF takatilumfj;rWungsstarfalandinu.rinu2018ertlaWaWumfanghinsopinberaverWi 9 yfir1.100ma.kr.eWasemsvarartilmeiraen41%afVLF.tmabilistefnunnareralmennt  gertrWfyriraWnafnvxturfrumgjaldahinsopinberaogsamneyslunnarverWiYekkurvexti  landsframleiWslunnarsamrmiviWsprenYaWsvarartilum65!70ma.kr.rlegrar r tgjaldaaukningarhinsopinberaaWjafnaWi.HlutfallsamneysluogfrumgjaldaafVLFmun e= hkkaltillegatmabilinusamatmaogtlaWeraWhlutfallheildargjaldaafVLFminnki 0 nokkuWvegnalkkandivaxtagjalda.formaWeraWkomandirumverWirWistaWbyggja  uppogstyrkjainnviWisamflagsins,s.s.vegakerfinu,aukYesssemsrstkherslaverWur  lgWaWeflaheilbrigWisogmenntakerfilandsmanna,ensamtmisverWurYessgttaW i tgjaldastigiWraskiekkiefnahagslegumstWugleika. \4 SkuldaogeignamarkmiW.    0fjrmlastefnunniersettmarkmiWumaWheildarskuldirT #  2      ׀hinsopinbera,Y.e.Ahluta,fari  jafntogYttlkkandiyfirfimmratmabiliW,eWarum38%afVLFrslok2017 `  samkvmttlunumYarumum25%afVLFriW2022.Slklkkunskuldaerveruleg,en S+! Y;munminnienveriWhefursWusturumeftiraWjfnuWurnWistafkomuhinsopinbera. " GerterrWfyriraWskuldiropinberrafyrirtkjalkkieinnigjafntogYttyfirtmabiliW,eWa # r2620%afVLF.XaWYUWiraWeflitiWertilstWuopinberraaWilaheild,Y.e.A,Bog  $ Chluta,lkkaheildarskuldirnarum15%afVLFtmabilinuogfarar60%rslok2017 !W% 45%afVLFrslok2022.RtteraWvekjaathygliaWsamkvmtstefnunnimunuskuldir J""& hinsopinberamtaskuldaviWmiWilagaumopinberfjrmlogverWalgrien30%afVLF #' rinu2020.XaWereinurisWarenfyrritlanirgerWurWfyrir,enskUringYesseraW #( skuldirsveitarflagahkkaumu.Y.b.1%afVLFvegnauppgjrsYeirragagnvart $ ) lfeyrissj;WnumBrlfeyrisskuldbindingum. v%N!*   0fjrmlastefnunnieruennfremursettmarkmiWumaWskuldirA!hlutarkissj;Wslkki A&"+ verulegansturumogfarirum31%afVLFrslok2017um25%afVLFrslok ( 2022.Lj;steraWtilaWYaWmarkmiWgetinWstYarffleiraaWkomatilenafgangurafkomu  semnumiWgti0,8!1,2%afVLFrlega.SvxtursemspWerefnahagsstarfseminni  komandirum,gangihanneftir,munauWveldaaWmarkmiWiumlkkunskuldasemhlutfalls a afVLFverWinW,enfleiraYarfaWkomatil.XvermikilvgtaW;reglulegumtekjumborW T, viWarWgreiWslur,sluhagnaWafeignumogafkomubatasemleiWiraflkkunskuldaverWi  variWtilaWhaldaframaWgreiWaniWurskuldir.stWaertilaWvekjaathygliYvaW  skuldamarkmiWfjrmlastefnunnarbyggistYeirriforsenduaWtilrkisinsfalli140ma.kr.   fjrinnstreymiafslkumtogatlunartmabilinu.EnnfremurmYessusambandibenda  X aWbatifjrmagnsjfnuWi,Y.e.hreinlkkunrlegravaxtagreiWslanamu.Y.b.25ma.kr. K #  milliranna2013og2018.      EfnahagursveitarflagahefurbatnaWundanfrnumrumeflitiWertilfjrmlareglna    sveitarstj;rnarlaga,U #  3      ׀enrfsveitarflgerunmeWskuldiryfir150%afreglulegumtekjum   snum.Skuldirsveitarstj;rnarstigsinshafalkkaWsemhlutfallaflandsframleiWslu,enengu wO  aWsWurhefurnafnvirWiskuldannafariWvaxandi.V #  4      ׀0samkomulagirkisogsveitarflagasem B  gertvartengslumviWframlagningufjrmlatlunfyrirrin2017!2022ergengiWtfr    YvaWreksturAogBhlutasveitarflagaverWisjlfbrYeimskilningiaWskuldirYeirra   semhlutfallafVLFfariheldurlkkandi.tlaWeraWslkkunsvaritilrflega1%afVLF {  tmabilinuYannigaWskuldirverWi5%lokrs2022.ErmikilvgtaWskpuWsuskilyrWi nF oghvatartilaWsveitarflghaldiframaWlkkaskuldir,einnigaWnafnvirWi,enlj;steraW 9 skvWaWmtaskuldaviWmiWisveitarstj;rnarlagahefurtakmarkaWaYUWinguYvtilliti  Yegarflestsveitarflghafauppfyllthana.    Xegarhorftertilannarraskuldbindingahinsopinberavegalfeyrisskuldbindingar r langsamlegaYyngst.Samkomulagsemgertvarrinu2016ogf;lsrtakmrkunbyrgW e= hinsopinberaskuldbindingumAdeildalfeyrissj;Waopinberastarfsmannahefurmikla 0 YUWinguYessusambandi,ogennfremursstaWreyndaWfallnarskuldbindingarsj;Wanna  voruaWfullufjrmagnaWarmeWframlgumrkisogsveitarflaga.EftirstandandibyrgWir,  semltaeinkumaWBdeildumsj;Wanna,eruvelskilgreindarogtilvikirkissj;Wserurlega i lagWirfjrmunirBdeildLSRtilaWsj;WurinngetistaWiWundirgreiWsluskuldbindingum.XaW \4 framlagYyrftiaWhkkaumu.Y.b.2ma.kr.ritilaWYaWnWinauWsynlegu ' jafnaWarframlagitlftmasj;Wsins.    LktogviWumfyrstutvrfjrmlastefnursemsamYykktarhafaveriWafAlYingieftir  gildistkulagaumopinberfjrmlerufjrmlastefnuYessariekkibirtarupplUsingarumeWa `  settframtlulegmarkmiWvarWandiumfangogYr;uneignarkisogsveitarflagaY;ttmlt S+! sfyrirumaWYaWskuligertlgunum.XettaskUristafYvaWumYessarmundirerunniWaW " YvaWbatilstofnefnahagsreikningfyrirrkissj;WogverWurhannbirturmeWrkisreikningi # fyrirriW2017.XegarefnahagsreikningurliggurfyrirverWurmgulegtaWbirtaupplUsingar  $ umeignirogefnahagfyrirhiWopinberaheild.FyrirligguraWstj;rnvldhyggjastnrWast !W% aukiWviWhaldoguppbygginguinnviWasemhefursetiWhakanumundanfrnumrum. J""& MeWtilkomunUsefnahagsreikningsverWurmatvirWiogYr;uninnviWaframkvmtmeW #' kerfisbundnumhttiogttiYaWaWleiWatilYessaWYrfogkostnaWurviWaWviWhaldaog ( styrkjainnviWisamflagsinsverWurgleggrienella.Fjrmlastefnanveitirsvigrmogfri  tilYessaWtryggjauppbygginguogviWhaldYeirrainnviWasamhliWaniWurgreiWsluskulda.   SamrmistefnunnarviWfjrmlareglur. T,    EinsogWurgreinirerlgumumopinberfjrmlkveWiWumaWfjrmlastefnaog  fjrmlatlunverWisamrmiviWtvrmeginfjrmlareglur.0fyrstalagiaW  heildarjfnuWurhinsopinberayfirfimmratmabilskuliverajkvWurogaWrlegurhalli   farialdreiyfir2,5%aflandsframleiWslu.GerterrWfyriraWYettakvWitakitilkomandi  X fimmraogeinsoghrhefurkomiWframerreiknaWmeWaWreksturhinsopinberaverWi K #  hallalausllrinogYarmeWaWsfjrmlareglaverWifyllilegauppfyllt.0Wrulagi,aW    heildarskuldir,aWfrtldumlfeyrisskuldbindingum,viWskiptaskuldumogtilteknum    peningalegumeignum,verWilgrien30%afVLFenannarsberaWlkkaYannhluta   skuldannasemumframeruma.m.k.5%aWmeWaltalirlegahverjuYriggjaratmabili. wO  BtliterfyriraWfyrstarifjrmlatlunarinnar,riW2018,verWiskuldastaWahinsopinbera B  YennanmlikvarWaeinungistplega4pr;sentustigumhrrienskilyrWifjrmlareglunnar    ogerstefntaWYvaWhnverWikominundirYettahmarkYegarYriWjaritlunarinnar.   RtteraWrttaaWmarkmiWum30%skuldahlutfallaWhmarkifelursraWskuldirskuli {  valltveraundirYvmarki,enskilegteraWYrverWivelundirYv. nF   BrUnteraWframkvmdYeirrarfjrmlastefnusemhrerkynnt,einsoghnmunm.a.  birtastalmennrilagasetningu,fjrmlatlun,fjrlgumogfjrhagstlunumsveitarflaga  rhvert,verWimeWYeimhttiaWtrverWugleikirkiumstefnumrkunina. r  ViWauki.     Xj;WhagsspHagstofu0slands2017 ! 2022(birtn;vember2017).  \4 F#  ?#A *FdFd  MN>>,,!,_,_,_,_,_,+  K: K |k( ##$$ @2016@|2016 R  3 @2016 @##$$ @2017@2017 R !3 @2017 @##$$ @2018@2018 R "3 @2018 @##$$ @2019@2019 R #3 @2019 @##$$ @2020@2020 R $3 @2020 @##$$ @2021@2021 R %3 @2021 @##$$ @2022@2022 ] &3 @2022   @##$$  Einkaneysla rh(' ##$$  @7@  r7,1 O(3  @7 @ ##$$  @7@  7,8 O)3  @7 @ ##$$  @5@  5,3 O*3  @5 @ ##$$  @3@  3,6 O+3  @3 @ ##$$  @3@  3,1 O,3  @3 @ ##$$  @2@  2,9 O-3  @2 @ ##$$  @2@  2,6 Z.3  @2   @ ##$$  Samneysla rh(/ ##$$  ?1?  r1,9 O03  ?1 ? ##$$  @2@  2,2 O13  @2 @ ##$$  ?1?  1,3 O23  ?1 ? ##$$  ?1?  1,3 O33  ?1 ? ##$$  ?1?  1,7 O43  ?1 ? ##$$  ?1?  1,8 O53  ?1 ? ##$$  ?1?  1,8 Z63  ?1   ? ##$$  Fjrmunamyndun si(7 ##$$  6@226@  s22,8 P83  6@22 6@ ##$$   @8 @  8,8 O93   @8  @ ##$$  @3@  3,1 O:3  @3 @ ##$$  @2@  2,9 O;3  @2 @ ##$$  @2@  2,1 O<3  @2 @ ##$$  @3@  3,6 O=3  @3 @ ##$$  @3@  3,8 Z>3  @3   @ ##$$  0  Atvinnuvegafjrfesting }s2b?   ##$$  :@26:@  }26,4 Pb@3  :@26 :@ ##$$  @5@  5,6 ObA3  @5 @ ##$$ #   Є0,9 yDbB3 #  ##$$ #   Є0,7 yDbC3 #  ##$$ #   0,1 DbD3 #  ##$$  @3@  3,0 ObE3  @3 @ ##$$  @3@  3,6 ZbF3  @3   @ ##$$  0  0bWarhsnWi }s2j BG   ##$$  =@29=@  }29,4 Pj BH3  =@29 =@ ##$$  :@26:@  26,0 Pj BI3  :@26 :@ ##$$  3@193@  19,0 Pj BJ3  3@19 3@ ##$$  *@13*@  13,2 Pj BK3  *@13 *@ ##$$  @7@  7,4 Oj BL3  @7 @ ##$$  @5@  5,1 Oj BM3  @5 @ ##$$  @4@  4,7 Zj BN3  @4   @ ##$$  0  Opinberfjrfesting }s2J!"O   ##$$  -1  }Є1,0 PJ!"P3  -1  ##$$  "@9"@  9,9 OJ!"Q3  "@9 "@ ##$$  @6@  6,4 OJ!"R3  @6 @ ##$$  @6@  6,6 OJ!"S3  @6 @ ##$$  @3@  3,9 OJ!"T3  @3 @ ##$$  @3@  3,7 OJ!"U3  @3 @ ##$$  @3@  3,4 ZJ!"V3  @3   @ ##$$  Xj;Wartgjld rh(*"W ##$$   @8 @  r8,9 O*"X3   @8  @ ##$$  @6@  6,9 O*"Y3  @6 @ ##$$  @3@  3,9 O*"Z3  @3 @ ##$$  @3@  3,0 O*"[3  @3 @ ##$$  @2@  2,6 O*"\3  @2 @ ##$$  @2@  2,8 O*"]3  @2 @ ##$$  @2@  2,7 Z*"^3  @2   @ ##$$  Btflutningur si( #_ ##$$  $@10$@  s10,9 P #`3  $@10 $@ ##$$  @7@  7,7 O #a3  @7 @ ##$$  @4@  4,3 O #b3  @4 @ ##$$  @3@  3,3 O #c3  @3 @ ##$$  @3@  3,1 O #d3  @3 @ ##$$  @2@  2,6 O #e3  @2 @ ##$$  @2@  2,5 Z #f3  @2   @ ##$$  Innflutningur si(#g ##$$  ,@14,@  s14,5 P#h3  ,@14 ,@ ##$$  (@12(@  12,5 P#i3  (@12 (@ ##$$  @6@  6,2 O#j3  @6 @ ##$$  @4@  4,2 O#k3  @4 @ ##$$  @3@  3,4 O#l3  @3 @ ##$$  @3@  3,0 O#m3  @3 @ ##$$  @2@  2,7 Z#n3  @2   @ ##$$  VerglandsframleiWsla rh($ o ##$$  @7@  r7,4 O$ p3  @7 @ ##$$  @4@  4,9 O$ q3  @4 @ ##$$  @3@  3,1 O$ r3  @3 @ ##$$  @2@  2,6 O$ s3  @2 @ ##$$  @2@  2,5 O$ t3  @2 @ ##$$  @2@  2,6 O$ u3  @2 @ ##$$  @2@  2,6 Z$ v3  @2   @ ##$$  Vruog_Yj;nustujfn_.,%afVLF rh(%!w ##$$  @6@  r6,3 O%!x3  @6 @ ##$$  @5@  5,4 O%!y3  @5 @ ##$$  @4@  4,5 O%!z3  @4 @ ##$$  @4@  4,1 O%!{3  @4 @ ##$$  @4@  4,0 O%!|3  @4 @ ##$$  @3@  3,8 O%!}3  @3 @ ##$$  @3@  3,7 Z%!~3  @3   @ ##$$  ViWskiptajfnuWur,%afVLF rh(&b" ##$$  @7@  r7,8 O&b"3  @7 @ ##$$  @5@  5,5 O&b"3  @5 @ ##$$  @3@  3,9 O&b"3  @3 @ ##$$  @3@  3,8 O&b"3  @3 @ ##$$  @3@  3,8 O&b"3  @3 @ ##$$  @3@  3,4 O&b"3  @3 @ ##$$  @3@  3,3 Z&b"3  @3   @ ##$$ ^^ VLF,nafnvirWi_ma.kr_. uk('# ##$$ "@2449"@  u2.449 R'#3 "@2449 "@ ##$$ @2575@  2.575 R'#3 @2575 @ ##$$ T@2730T@  2.730 R'#3 T@2730 T@ ##$$ @2888@  2.888 R'#3 @2888 @ ##$$ §@3041§@  3.041 R'#3 §@3041 §@ ##$$ @3204@  3.204 R'#3 @3204 @ ##$$ Z@3373Z@  3.373 ]'#3 Z@3373 ^^  Z@ ##$$  NeysluverWsvsitala rh(@ ##$$  ?1?  r1,7 O@3  ?1 ? ##$$  ?1?  1,8 O@3  ?1 ? ##$$  @2@  2,9 O@3  @2 @ ##$$  @2@  2,9 O@3  @2 @ ##$$  @2@  2,6 O@3  @2 @ ##$$  @2@  2,6 O@3  @2 @ ##$$  @2@  2,5 Z@3  @2   @ ##$$  Gengisvsitala tj(   ##$$ $-10$  tЄ10,6 Q  3 $-10 $ ##$$ $-10$  Є10,7 Q  3 $-10 $ ##$$ #   Є0,6 yD  3 #  ##$$ #   Є0,3 yD  3 #  ##$$ #   0,0 yD 3 #  ##$$ #   0,0 yD 3 #  ##$$ #   0,0 zO 3 #    ##$$  Raungengi si( ##$$  (@12(@  s12,8 P3  (@12 (@ ##$$  &@11&@  11,6 P3  &@11 &@ ##$$  ?1?  1,8 O3  ?1 ? ##$$  ?1?  1,1 O3  ?1 ? ##$$ #   0,5 yD3 #  ##$$ #   0,5 yD3 #  ##$$ #   0,3 zO3 #    ##$$  Atvinnuleysi rh( ##$$  @3@  r3,0 O3  @3 @ ##$$  @2@  2,7 O3  @2 @ ##$$  @3@  3,0 O3  @3 @ ##$$  @3@  3,3 O3  @3 @ ##$$  @3@  3,8 O3  @3 @ ##$$  @4@  4,0 O3  @4 @ ##$$  @4@  4,0 Z 3  @4   @ ##$$ Launavsitala zi(!##$$  &@11&@z11,4 P"3  &@11 &@##$$  @6@6,8 O#3  @6 @##$$  @6@6,3 O$3  @6 @##$$  @5@5,9 O%3  @5 @##$$  @4@4,6 O&3  @4 @##$$  @4@4,3 O'3  @4 @##$$  @4@4,4j`^(3  @4    @##$$ j[I# ACG#