Report No. 11903-TU Turkey Recent Economic Developments Volume It: Annexes December 3, 1993 Country Operations Division Country Department I Europe and Central Asia Region FOR OFFICIAL USE ONLY C?P~~~~~~~~~~- ,, *~~~~~~~~~~~~~~~~~~ 4~~~ ~ ~ ': X2f-- ->~~~~Y iqt"h~ ,, dds ,<>-,. !,, - 4 -=* v MMk.Jt - ,y2i' tt$ ; 0 CURRMCY- EOUIVAL,EM Cumc Unit = LTula 1Th) Valuo of US$1.O) 1990* 2608.6 1991* 4171,8 1992* 6872.4 Augaut 30 1177.0 FAL YEAR Jauary I - Docibor 31 Turlex - Comtry EC a Ujrandim Recqs EconomiA DeveloVel a and the 1993 rWeonogSe ProgrV ,suzzinmC AmIIS List of Tables 1. Gross Nationl Product by Sector (1984-92) 2. Mcroecnmic alanaes (in Current Prices. 1985-92) 3. Macrwconomic Balances (at 1988 Prices, 1985-92) 4. MacrocconomLc Balances (at 1988 Prices, 1985-92) 5. Macroeconomic Peflators (1985-92) 6. Total Fixed-Capital Investments by Sectors (1985-92) 7. Public Flied-Capital Investments by Sectors (1985-92) 8. Private Fixed-Capital Investments by Sectors (1985-92) 9. Nanufacturing Industry Production Index by Quarters (1986-92) 10. Private Manufacturing Sector Production IndAx (1983-92) 11. Private Sector Capacity Utilization (1986-92) 12. Developments in the Domestic Labor Market (1987-92) 13. Uholesale Price Index (1989-92) 14. Consumer Price Index (1989-92) 15. Consolidated Central Government Budget (1989-93) 16. Domestic Treasury Borrowing (1988-92) 17. Interest Rates on Goverrnmt Bond and Treasury 5ill Auctions (1988.92) 18. Profit and Loss Accounts of SOEs (1987-93) 19. Financing Requirements of SOEs (1987-93) 20. Consolidated Accounts of Extra Budgetary Funds (1984-93) 21. Public Balances (1986-93) 22. Total Assets and Domestie Liabilities of the Central Bank (1987-92) 23. Central Bank Balance Sheet (1987-92) 24. Central Bank Money Stock (1987-92) 25 Exports and Imports (1987-92) 26. Exports by Sectors (1987-92) 27. Imports by Sectors (1987-92) 28. Oil Imports (1987-92) 29. Balance of Payments (1986-93). 30. Outstanding External Debt (1985-91) 31. Debt Service Payments (1986-91) 32. International Reserves (1985-92) 33. Exchange Rate Developments (1987-92) el" Pg Us I I.$ *S £@0 *6 tot Vs£ S' '0 1VS 61 SWIMiI31 dI r*-S LW 119 10 12') 060 ra W".P U *~~F VI 601 *1 ri VS V s tS W.5 |i w is *-1 *t (re) to9 o3 9t6 tot son 1Jw 6el 'i re V'0 It S-9 £1 rt 009 SeIJi S) 3 dS *' 91 r9 S*9 s*t ct ri 9r 6n5MS oSwI Vs 93o o09 9t re WV 1-9 5Sl)W#od l).ie .. .. is61 tt W 6s 6t 92 93 -Si 1 , *0 00 39t 01 A*t 1 VI t 51 S et SWIM4lbII 191115 ro s ri rt o tg sV rt VA Po 0013614"Mw. *- r9 0 V?I 1.9 rS 66 96 9 9 93 gsinS * * 6'I . t 0i t1*l L9 to9 6Z et W13u1S rt re 919 Vt rIt 99 V9 0ob £5 UM" rot 90 f r s r.9 601 ss0 to VII 43. pa. us 'A&-'ja13 9 9 901 01 21 got 66 9`6 rS rot t 90e tot 903 ") A'S t r (9} ) Wi 4 " 9`9 a's 0`6 to t*o 9`6 '9 r9 Vol Aa's * '' 0 t".U) r` @-0i VS (1-F6 5& " $ 0' '' Q') "0l) 0-00 *@ 90 0o0 re A0 sS ''1 (r01) See 1oi *' 091 V *DSWS S ro ro ri1 (9o0) 01 tog 6L 9*0 go tIS 2661,3 61 06 01 36 S 6 6 (1661 soSn a" 403' Sla f3 a" aW 5lu IPI*U J ° e. lPmq u* bsaw dsowi IWAmu jow Aq3=pd 1ln3. meS sAsqJn% 01 oWpL Tale . L T~ N m 3ains (tn eAart prices 19) 1013 1. 6? 11 27.797 39.370 50,50 100,582 170,412 W.84 49,20 774.M L Flaip dcit in 6 (2,2) 2 , 68t0 (loom few S. Teto rawee (dw d 3,322 40,0 9.4 W 1is 3 294*0" 452,134 7o2.t 4. Totalis 1setut 5.78 9,594 14.7, 2.895.6 74,547 100.531 165467 S. Plid Wapit fl m ton 5S162 9.07 14: 24. 5 "7 64.244 102.3 167,59D a. Prive 2,326 3.856 658 6 222353 55;36 89.61 b. 9.. S,236 SIM2 7,48 114 120 2 4n0 77*712 6. Ihus In sta 1a 209 516 15A 49 30) 10,305 (1, M) (4.1 a. PrIvet. 26 491 51 so9 I'm.72 (2.5) 11 b. 9.641. (9 15 25 (M3 (9) 6.50 67 (15.420 7.owte ewmaptimm 22,54 50.156 440412 14.124 lI.0629,517 351.605 6193 Rule641 diapm*e Irma Soon9 7,449 loom1 17,54 3,009 53.216 Is,3= 121.9 9. N"s e_ amn 2.3 3.491 5,23 7, 19246 40,015 12,111 139.55 10. 9.fe ain 2,723 4,157 4,90 8,8 l10,4 t319t 31 (4,591) 11. 9e lw 1 5.247 7t?t' 10.61 1681W 34.471 477M 62.M 12. P. isevip (O4) (100) O2A769) (2.09O) .5) (211,2) (44m7) (4640 t3.PIvate nos" Mom1 230 4n.332 5.040 140.4 23" 379 "9.M 14. Priva"t . tlm 3,165 276 39.39 M,o2 111.40 179042 27940 49m iS. Pit al" 2,534 4,456 9.143 17618 2 5 544 94 195M 16. Privet.wastmeb * .615 4,U47 7.00 13,258 20.25 4.076 52. 101.30 17. PrIvfte "Weavfrgsiat.m ga (of) in9 I'm7 4568 8.060 14.470 45.645 58.10 18. PrIvate smp raft. t1.2 14.0 10.9 21.3 20.45 liSt 21.06 24.5? ". .Ai eavte nat 53.4 54.4 46. 30.4 X.3. 34.76 4.1 (36) 20. tal t es mltie gs 5257 0I 6 SIM 14.6 .456 59.,7 M7or 101,401 154,M 21. t1 _tamU N8 24.4 25.2 24.0 82.12 25.95 22.1 21.11 Z2. IavIsu/I 18.9 21.9 2N.1 2.5 8s51 nit 22.4' 2 3.4 It wes estu f 191"4" . *cwm we tibt* . TwbW ftm,- aml Stalans t 1. 1t p... 1952 P40" 14101-10) .9Us 196r g196 96 1 1990 1991 Istae I. 9,2 97058W t1,052 101,454 111,61 112,07 11,26 2. f?aoi daelft (592) 2,030 Ur (2286) (1.653) 5su2 1,29 4,36 3. Total grsmes obsrptimn) 82,935 92,355 ,97.9 96I31S5 19 1169,013 114.01 122.60 4. tot0l nImntUU t 21,5t9 21,368 25,715 2,16 25.618 31,03 26,5S2 21,728 S. fim edapitaI fortein 20:944 23.202 21,44 U 242140 23M 2,116 27,14 2V,356 a. Private 6,095 9,423 11.175 12.688 13.105 1S,566 15028 15,230 b. P%tMIe 12,49 13,7#9 13,m 11.451 10.696 11,550 11.9:" 12.118 6. Chunes In stasb du3 1146 1.270 49 (18) 3,969 (4U2) CM23) a. Provte o3 1,091 647 S69 49 143S (629) 1762 b. M§c (199) SS 403 (152) (232) 2,535 167 (2 390) T. total kcsm 0t1ion 61.356 68,010 7209 74,126 77183US82 87.524 95.677 S. Pice dIspodake 1nm ", 19212 16,995 1T,.m 17,54 15.t641 15.591 11,390 10,16Z 9. _16 Ion tlon 7,727 2 6, # ? 544 $70 6,994 10,520 10,4S0 tO1,31 16. PuMfo savliws 11.485 10,756 6S,6 6,6 6.,64r ,o0 0o (4857 It. PdAte Imstaumnt 12,451 13,834 13,675 t0,931 10,464 14,03 12,153 9,726 12. _Ic sawngs-tvwst.unt gp (1,145) (3,0?67 (4,96) (2.096) 03.617) (9,013) (11,39M) (10.391) 13. Private di.posabl. Imme. 44,315 71,46 79,7M 83.040 84.613 96,20 100.817 106.096 14. Private eonsuptIon 53.629 s.sm 7 63.65 454,22 48,169 75.306 76945.016 IS. Private swIng 10,664 11,531 1%.120 17.616 16.424 20,972 23Q 20.2 14. PrIvate Imiarstmnt 8,92B 10,S14 12,Q02 13.258 131,, 17,000 14.399 17,000 17. Private swAmnu*I,mste.nt gap 1,138 1,017 4,071 4,360 5,270 3.972 9.521 6.052 16. prvate savngs rate 16.6 16.2 20.2 21.2 21.27 21.13 23.75 21.33 19. FeIb. s1angs rate 5a 56.6 s0.5 50.4 43.22 32.53 6.47 (4.52) 20. tot Al d tl savIngs 22,171 M22.28 24,649 24,456 25,21 2,044 24.60 22.369 2M. iewtmomntIP 258 27.0 24.5 24.0 8 .05 2.79 25.66 22.0 22. 8evInsI8H 24.5 21.7 25.6 24.3 21.67 23.30 22.00 16.95 If iP0ws setttes fr 1w9141-. lres P0 d ' _ w _ _ $ ° 2 i * a a-- #s I e .....!, 1a,i,' :"^;o'brn 4 aw pii 16-1461 J1 S3'3 OdB/it - l bm.Isaimi1Au W35S L 'D SON too Z- S £9*1 9 0 0* 6ft Ub5AU 0139=* '5z dd *WQUW-0MIA S1,1 *1t 9I't 93 SS S)" 1*-8 flu S el it r'St UsIuU ""lid ')9 ?'99 £K% Ire a'!f, tow Z 1S FW O 'S9 eul AW PUAI4 "St S-S S'ZS S'l V*0 Iz I'll S ')S RUUIUSM 1 Z1WV '*n 1-89 Z-8S tow Ill OS9 tff Z*" 61"S ONA *$Ma 'at We VW 9'08 L1- I'm el" ASl e'Sl UA Sw ' so"" '01 191 Sols SotS toS rZ' t!? gS tog reL "mknow* Ines '4 O-S9 SIL Zen tow tow 19£t I'll soct 1 * w *j °1 So"w 0s Zens VW9 r. o'a ra all" us Ut ) reZ 9-SS SON VW rlu .ZU1 $*O S" 31m*q 91 Z9 clog ifS" '6 rLI SS 9d1 C'st qS bS Pula '9 9'f9 Ca!? I'S r6'9 )'L 'S19 Vi' 9'S) 3* 1 .*9 310.5W .aPwd" g 0 P tl s z t s'1" Il ro O'Is E 'E) It n 'i "mlM muC 06" Mt ou Mt1 n stb Mt | 4 ^4 P635)3 1461 9661 496S 96 O L5 9361 It mi1 1'99U'S '9r '661sn"fies* ( ~ ~ ~ ~ ~ ~ ~ td el z |-" t'w~~US31IS VK t'99 'S9 *'jn O'5t9 ESwi 1~1. 6. 1w*e~tgTott Uixoa Cital tiwes by State. 19f6t4 1992 195 19"6 1937 19W 193 Iw 1991 hltl A. At Curent Prteie (billIon TI) AthCtue 4 415 1,090 1,7 2. 4,4 7,66 11 1t Iffning 3S2 402 405 690 6 1,39 2,395 3.71 onuwecturlin 1,1 1.,5 2,.20 3.07 5,171 1129 171.72 29.1 gnerv 7M 1.315 1.77 It259 5.53? 64 6,04 156 Truansprtation 1,322 2.093 3,349 4,767 7,379 1414 24,661 3917 Toursim 6o 212 369 m 1.547 2,5 4063 553 Uosulsn 796 1,463 2.976 66 10.732 16,11 23509 3 ciulon 145US 21? 346 49 1.161 2.15 3.4 6.2 keIth 50 a7 16 2g 5 1t,9Z 1942 39,69 OUse evce 46 90 1.315 195,19 2.64 4,591 J,192 13,301 tout 5,5-2 9.089 14,028 24.139 38,159 64,243 102.394 167,590 U. At 9 Prices (illito I) hsriedtw 1."4 1M2 1,62 1,727 1,616 1,794 1,902 1,716 Ulnfrw 1.472 1.106 715 690 5u 577 w5 529 Narfaumtng 4,616 4,61 3.369 3.5 3.343 5,185 5,220 5,29m busy 3,070 3,54 3,25 3.259 3,442,713 2. 2.360 Tranportetion 5,009 5.t412 5,3 4.767 > 4 061 .7 6,466 Touari 27 Sa 635 786 9 1 I060 1 93 uBis 2,69 3,546 4.5 6.34 6.2 67 5.813 actlen 501 D5 610 69 m 913 1.071 Nesth 173 211 263 259 322 442 510 591 Othew SaM. 1,466 2.259 2,363 1,95 1,609 1,930 .t236 2.566 Tout 20,932 23.278 24,46 24,139 21,901 27,116 27,015 27,355 C. Slho In Total tet 19 prices) AsHwalure, 7.1 6. A 7.2 6.6 6.6 7.0 63 MInlde 7.0 4.6 2.9 .9 2.2 2.1 2.2 1.9 Nd lmsftnl 22.0 19,6 15A 15.1 14.9 19.1 19.3 19A er-y 14 1S3 U.3 13.5 14.4 10.0 6.3 8. T r fwr atan 23.9 252 24.1 19.? 19A- 22.4 2.3 236 Tusa tJ13 2.2 2.6 32 4.0 3.9 3.9 3.4 leasIng 12.8 15.2 2W.3 26.3 2.2 23.8 21.2 21.3 66asa*tlmn 2.L4 2. 2.T 2.9 3.G 3.3 3.4 3.9 Nestth 0.6 0.9 1.1 1.1 1.3 1.? 1.9 2.1 Other ServIces 8.0 9.7 9.6 6.1 6.7 7.1 3.5 9.A D. Annu l Poecent CU'eU (M" 19(3 prIces) A4rfeult.r (11.5) 0.9 24.0 (T7) (6.3) 10.9 6.0 (9.86 nint 3J M2A.9) C(J5.3) (.) (24.0) 1.1 1.7 (9.9) xfwtetwuin 4 6. (0.0) (U.2) (.S5 (.6) 55.1 0.7 1.5 Energy 6. 16.1 (.?) 0.1 5.6 (21.2) (17.6) 5i Tunapoutftmn 30.9 3.0 6T7 (19.0) (2.8) 30.8 6L5 (1.7 Tour1 7j 90.6 21.4 23.5 2a 11.0 (0.) (12.) fteint 16.2 31.8 9.5 3.2 6.0 (4.2) (11.2) 1.5 Udiutimn 4SJ. 7. 24.5 3. 4.a 22.3 2.6 17. Uatth 16. 21.83 24.6 (1.) 24. 43.4 10.4 15.9 Othe Srfies 43.7 34.0 3.? (1.4) (17.9) 19.9 16.4 13.1 Total 1.9 10.9 *.0 (1.3) (1s.0) 13. c0.4) 14 I. ef btes (Chain Ircdas ftrlltws 14.0 1A.O U.O 2 170.9 "1i2. 152.3 1433 1e. "Inite 1.J 152.1 155.2 177.3 159.6 151.4 1.9 173.9 nuu twing 145.2 151.9 17.4 175. 154.7 U1.S 1S6 1U2 twiurg 152.4 154.3 162 15.0 10.9 1UL 1453 14A Treuptatfin U1.3 1A. 147.1 175.7 159.2 14.6 160.5 161.J Turt" 143.2 9.5 143.3 172. 142.0 150.6 157.5 156.9 smoing U14.1 139.2 145.7 166. 159.5 156. 16.2 15.2 lalectlon 142.7 139.5 1 173.7 162.6 1492 5.7 155.1 bed th 143.7 142.0 144.2 146.2 156.9 150.6 1t1.1 164.4 Other Sevo 141J 139.7 141.0 176.3 164.5 144.6 150.6 146.9 low*" VD_ Table 7. Tw*kwo hy iAlie IMid tapit hwesomws by etws 196592 195 19S6 197 19 199 1990 191 atI A. At Cuwrrt Price (btllion IL) Arieuture 226 356 64 1,046 1,78 2.461 $,2 7.40 KIning Su1 350 304 510 "a0 96 1,3 2,607 Nfcturl 409 n 46 476 6 I4 2,39 4,192 6flStW 711 1,26? 1,716 3.,00 so ,1"' 7,990 14,711 Twup@tution "T 1.3 2,34 3,3 S.220 9,4 17,393 26,4 TourIsm 29 97 124 176 191 341 T" . an 10 116 20 5 3e 1,10? 96 1,774 amatin 13 no 356 6t9 1,0I 1,944 3,09 .,7 861tth 39 6 116 2 373 7m4 1.196 2,7 Othr ervIs 376 742 1,073 1,512 1,671 3,354 6,320 10.6 Tota 3,23 S,23 7,40 11,451 17,355 27 47,028 7?T713 S. At 19 Pries (billion IL) Agriculture -35 Of 1,087 1,046 1,112 1,054 1,269 i,048 Kining 1,38 93 549 510 341 366 393 353 Nmbfactwil. 1.911 1'29 912 678 491 519 621 64 Ergy 3,022 3.44, 3,147 3,060 3,211 2,0 2,005 2,if1 Tr Ionrt 3,54 4,022 4,0 3,403 3,280 3,ff2 4,401 4,026 To r" 99 239 214 16 116 140 184 175 Naog m29 261 197 20 201 443 2U3 261 -amtlmn 471 497 616 69 65 62 612 977 Setth 3 15 '95 203 23 32 314 S Other svices 1.1 1.W3 19,"2 1,512 1,142 1,411 1,764 2,040 Total 12,63 13,85 13,27 11,431 10,789 11,50 11,96 12,116 C. Shres ln Totl (at 198 priesn) Agrcultue 5.9 6.2 6.2 9.1 10.3 9.1 10.4 6.6 XIning 10.5 7.1 4.1 4.* 3.2 3.3 3.3 2.9 Nouacturing 14.6 11.0 6.9 5.9 4.6 4.3 5.2 5i Enerw 2sA 2.9 23.7 269 29. 21.? 16.7 18.1 TIrt on 2.4 29.0 33.5 29.? 30.4 34.3 36.7 3.2 Tou"ris 0.8 1.7 1.6 1.5 1.1 1.2 1.5 1.4 sowing 2.2 1.9 1.5 It 1.9 3.6 2.0 2.2 Idiitlon 3.7 3.6 4.7 5.6 6.1 6.9 6.6 8.1 1.tb1 1.0 1.1 1.5 1.8 2.2 2.5 2.6 3.3 cther Sevices 10.2 U1 14.4 13.2 10.6 12.2 14.? 68 D. AbwL Pernt Chw. (t 198i prie) A clttre (6.2) 1. 2.7 (3.8) 6 (5.2) 18.5 (16.1) Xining 32.0 (27.6) (46.2) (7.0) (33.2) 12.6 2.3 010.2) Ndef tuaring 73 (20.0) (40.4) (25j) (V.5) 5A 19.7 S. Energy 9.1 14.1 (6.?) (2.1) 4.2 (21.9) C20.0) 9.6 Tartafan 42 13.8 1.4 (23.4) (3.6) 20.4 11.1 (8.6) TOi;sm 2.1 M141 (10.5) (17.6) (J) 18.9 31.4 (4.9) Nauing 2.0 (9.4) (24.6) 3.8 (1.9) 120.9 (45.1) 7A gdction 43.2 5.6 26.3 3.3 2.a 22.1 1.2 20.3 8t6.1 (1.2) 15.1 26.6 4.2 16.9 36.1 (4.3) 26.4 Other Sevices 56.2 41.0 24 (20.9) (24.5) 23.6 2S.0 15. Totl 23.1 7.5 (4.2) (1.7) (5.6) 7.1 3.3 1.1 E. slo (Cha00f f, gricultue 141.4 19. 144. 14.2 160.9 156.9 16.0 163.4 Mining 149.3 152.1 155.5 180.4 161.4 15.0 171.4 174.5 Nurwfacturing 1534 157.1 158.1 181.2 160.6 1S0. 159.5 166.9 Energy 152.8 156.2 148.4 10.4 161.3 148.6 166.3 1660 Tfnportutin 143.1 1485 149.7 175.2 159.2 150. 16.9 164.4 Toris 143.2 139.5 143.3 172.3 162.0 150.3 156.2 157.0 ltsIng 145.1 139.2 145.? 16.4 159.5 156.r 164.0 166.8 Amation 142.7 139.5 142.4 175.? 162.6 19.1 155.9 1.0 llith 143.7 142.1 14.2 6U2 156.9 150. 161.4 164J other Sel s 1414 19.7 141.0 172 166. 144 150.6 148.9 $01oves SPC |~~I~! | | l! Z§2£ s rf2gg ..*.n .45"55 sr19-gr1E'| { | Zts§%2g,;;l 5 t;lt§{W"* § 5 ^3v "9-" -3 -ag;a X X X20,"-,En g g"g^||881" tr"------ 9_-3Co: *3*;r t §gX;XX$2 X U3toi^Zy$U a :e1''?X"?:s w.*w3m s a4 eRat -~~~~~~~~~~~9 --------9 !~ ~ ~ ~ ~~~~U _"s ln ^*t .sgo4° Srw;i$ a ;Rs33aiSc§i t t s " v ^_F, ¢' § 2 £, k seco35goOw * "5iX."ga: ojiZ-re~~~~~~~~~~~~~~~~~'99 i ] l 5t §"si 0Xibilst - Zldsl § st}thXt ZB'l9-u,''| .. ff 9;- IdAe 9. tUrh Nmufetw4uu tityprgeftiOm loft ory "rmres 10.I by Uelm "dasmtm MD.10 ...... sm..................... . ------- test. 01 0fl0ff1~~Wi 0IV at1 allO"t 0V 01 01of 3 oil 01 0330Ni3 011 A. Iran St food. beveate ad tdkass as SNJ 104.7 124. 6 5. 649 103.5 139.5 103. 90.6 10e. 11.9 100.1 101.5 117.1 ,12L5 32 otttle, reer 1d tllhw 973 95.7 97. 109.1 105. 105.61 102.1 1205 115.0 110.0 101.1 1t.t 106.1 10.0 117. 19 335 loetey mid furnIture 93. 97,1 "5. 113.0 "5t6 102.19 95T Me3. 10?.? M01. 93. 103.1 97.3 9T.6 1WA. 119D 34 Paper perw prime printiuw 93.5 99.5 106.8 108.7 104? 109.? f17.5 1in.? 181.5 111.1 105. 80.3 I03.5 fo7.0 1.2 1WA. .. m .. t , c . t. _e _.. and petlc 66.6 94.7 109.2 1I 102.8 106.9 115.5 133.2 117.5 112.0 120.9 122.? IIL 113. 122.2 120.5 36 Usetmst.tic minuet proiActs 02.0 101.5 107.9 100.4 87.5 117.4 125.8 121.1 107.? 124.8 127. 119.2 110. 1313 134. 125.6 37 Seal M1etal 94.3 100.7 101.1 103.7 105.7 113.7 100.9 120.2 115.6 113.1 10t.1 113.1 110. 106.6 106.2 130.4 so I.utt ost.usiey tr vehicles, and toteawfurng t e 94.7 98.6 ff.8 12.7 9.6 108.4 9.5 136.4 110.3 105.9 63.7 10.7 5.1 93.6 9o.3 126.5 9 Othbrs W9.5 92.6 69.6 117.9 94.6 8.3 61.6 161.4 102.6 91.0 64.9 0.7 4.S 159.0 1o2.6 110.8 3 I.tt Rnufasturliw In&mb 0.1 94.5 102.1 113.2 97.8 105.2 1009. 131.2 112.7 108.0 108. 1T.9 106.6 10r.4 117.0 125.8 bnt Average 1010.0 1`10.7 111.6 114.3 S1. Percui d muws fr thesso # rterof the preVm veew 31 Ue4d,, bevragss ad seao 6.9 0.0 1.? -0.7 1.5 2.7 f1.1 11.6 19.6 6.9 5.4 -6.9 .2.5 1 11.6 16. 2.0 M Textile# ree*ues ard teethe 20.5 13.9 14.9 6.6 7.7 10.6 4.8 10.4 9.4 4.0 -1.0 -4.0 -4.4 6.4 15.9 11.5 33 Sorestry ard frniture 30.6 20.9 11.5 -2.7 1.0 6.0 0.7 8.2 12.4 .1.3 -2.3 -16.2 .9.7 -3.9 7.0 ISA4 34 0 2.1 17.2 11.6 1.0 12.0 11.3 12.8 20A. 16.0 4.7 4.9 15.1 14-.8 -7.7 1.2 45.7 .5 .ilse i,cs.r~r dl pstc 11.1 5.3 102.9 1s.2 a 8 .2 16.4 13s. 562.0 14.3 2.6 4.7 7.9 1.0 1.3 1.1 -1.6 36 Uh.eatcmnae rass 2.0 1". 13.9 li6.7 6.7 15.J 16.6 11.7 5.1 6.3 lo7 -1.6 8.2 5.4 5.4 5.5 37 Bai ...24.9 29.3 26.7 -1.1 12.1 12.9 7.T 15. 9.4 -0.5 4A4 -4. -4.4 -S.? 8.0 V'. IS It.t pveusts ilmry. mter vn alet. md ,amua wi.es 19.9 16.1 5.9 5.3 -1.2 9.9 1J 13.0 11.6 -2.3 .12.4 -23.2 -22.6 1a1 12. 21.1 39 Others -4.9 -4.6 -6.9 53.9 8.5 3.1 3.6 -50.6 40.8 74.? 9.6 6.7 3 Total Uu fetauiug lary 1.9 11.4 U1.0 . 6.5 6. 15.9 15.2 27 0.2 -0.1 -5.2 -4.6 7.6 6.7 burnt Average 11.0 10.7 1.0 2.2 X II e i ct22. n. 1s9 1|t ST 1.T *.*lt. 2s1 *X l.T -1. 2. %. 5. S. A. Iedm 31 Fed tanr mid ttdus. 109.0 116.6 1253 144.4 113.5 1153 155.4 1536 11U8. 117.1 146.1 32 *xt 1t, ilrndi4" aid lstwer 116.6 11J 10 176 101.4 100.5 101.9 114J3 107.5 100.9 107.9 33 FeKretry and funitur 122.8 1174 117.3 128.3 110.4 102.4 114.0 129.2 113.1 112.2 124.8 34 Paper. p2per pests u0d prini 1 2 2 139.6 1138 107.1 119.7 13. 121.7 120.9 137.2 35 tb mieea, s e l rbbr d plastic 120.7 107.4 135.2 127.3 17.6 113.2 128.8 125.8 119. 120.S 1335s 36 Nm-artaUlc mineral prodaut 115.9 27.7 141.6 156.3 116.5 126.7 160.0 142.2 130.2 t16.0 16e.7 37 sale Natals 132.7 12.1 129.6 140.4 101.0 1270 126.A 129.1 115.2 119.6 139.2 38 NwMt proedts, mchinrvy, mtoe veMles, Ord maewins deIes 117.2 135.0 119.4 155.6 111.7 14U.S 149.4 180.7 156.9 146.7 m.0 39 teres 102.7 241.4 210.1 220.2 143.2 119.9 203.4 194.2 177.8 174.6 215.8 3 total Nhwaceturins IndAtry 118.2 117.7 127.2 137.1 11.1 120.0 135.4 14.6 121.5 125.3 139.2 Almi Averop 1a5.1 12.4 so VW t dGo sle from ie m qarter of tbr prfeiw r 31 Fed. 'ha vmem and tubcco L.5 14.9 -4.0 9.0 4.4 1.5 244 6.4 4.0 -1.0 -4.6 32 fasti*0 re e andW tether .5 L.i -5.6 -1.1 -10.5 -9.r -3.3 -10.4 5.0 0.4 0.9 33 forestry end furnitur 26.2 20.5 17.3 7.8 -10.1 -12.9 -2.6 0.? 2.4 9.6 9.5 34 Paper, paper predict mid printing 1.2 3.5 14.7 19.3 -2.9 -11.6 -2.7 -6.1 6.9 12.9 14.6 35 Chemls oll, e l, eru and pastie 1.7 -A5.4 10.6 5.6 -3.1 5.4 -4.7 1.2 1.8 6.4 3.6 36 umintst1e mine predict 5.3 -2.9 5.0 0.3 0.5 -0.6 13.0 4.3 11.6 30.2 5.4 3? 0 le Ntal. 20.1 19.2 220 7.7 -20.1 -0.1 -23 48.0 0.7 .5.8 10.0 8 Naa predcts. minryster wehtcles, mwd eieurin decvies 3r.7 43.9 26.6 22. -4*.7 10.0 25.1 16.1 40.5 0.1 3.7 39 Othe 2-.4 51.6 29.1 29.4 -21.6 -S0.3 -3.2 -11. 24.2 45.6 20.8 3 Totlt Nmucturing Lctry 10.7 9.6 6.7 9.0 -4.3 2.0 64 2.8 10.1 4. 2.6 MootI A-ng 9.5 1.9 _Ows s3 bt e 10. Tw&sw Priwete Wufst xr Setor Predation ted. 19 194 19 16 *........ SO ................... ......... . 1969 ........... cm acit=u tw. IV. IV. IV. I. it. il. IV. 1. It. Itt. IV. . It. lio. IV. A. 1edsm 31 food-lSeereeTpebsec 110. 117.4 116.2 133.2 123.5 116.2 142.9 153.0 141.0 120.2 156.6 140.2 144.5 132.6 117.4 149.2 32 lait3les-C1.thlnuLesth 95.3 135.0 156.1 166.6 13.6 173.1 159.2 192.1 179.6 194.6 19.9 162.5 154.3 113.9 171.7 190.7 33 forectry Prod. 106.6 123.3 110.6 10B.0 152.3 95.1 116.2 110.? 149.7 66.9 117.7 92.? 129.2 67.9 121.6 102.0 34 PIpeg Prlntin 110.5 126.9 137.6 149.0 I0.0 132.5 5.9 147.2 144.2 127.7 1776 127.0 126.6 120.8 62.2 139.1 35 chemIcal 120.7 13.4 141.0 137.4 116.1 137.5 102.0 151.7 129.1 140.4 96.1 149.1 121.4 149.0 104.1 166.9 36 5oil Pro. 77.5 85.2 7.7 104.4 1.6 134.4 193.6 125.1 95.9 142.1 202.1 122.3 160.7 150.2 209.6 129.8 37 s etal 143.0 159.3 187.3 209.3 224.4 226.9 243.1 232.9 226.2 22.6 210.3 2M8.7 216.1 266L5 250.9 226.3 36 Nbtal Prod.-Nuhnfery 17.6 175.7 194.9 204.5 176.1 159.6 136.9 235.4 212.1 156.3 120.2 104.1 151.7 136.0 126.0 209.9 39 Others 140.0 140.3 170.0 123.5 4.7 15.6 64.5 140.4 51.0 100.4 61.1 113.2 46.0 136.3 71.7 136.9 Totel 123.0 136.7 1S1.4 159.8 144.9 154.7 139.3 160.9 1663 157.2 131.5 161.0 145.2 157.2 112.5 176.8 knot AlWeg 106.1 121.0 128.2 12.3 154.9 1S4.S 155.4 3. Percent chow froem t sa qrt of the i vow 31 Food-IeweraogTebocoo 3.5 6.1 .1.0 14A6 11.6 1.0 23.0 14.9 14.2 3.4 11.1 -.4 2.5 10.3 11.7 6.4 32 tustIles-tI.tl,-imsethoe 14.2 6.S 15.7 6.7 44.5 26N3 2.0 15.3 30.5 12.4 0.4 -5.0 -14.2 -5.5 7.4 4.5 33 Forestry Prod. -6.4 15.4 -10.3 -2.2 42.S -22.6 6.9 2.5 -1*.7 -8. -0.4 -16.3 -n.r 1.2 3.5 10.0 34 Paper Pr5ntbw 5.4 16.6 6.9 6.1 13.1 2.6 -3V.7 -1.2 15.3 -3.6 -9.6 -13.7 .12.2 -5.4 5.9 9.S 35 Cue lcal 3.9 10.5 s.7 -2Z. -3.6 3.1 -27.6 10.4 11.2 2.1 -3.9 -1.7 -6.0 6.7 6.1 13.3 36 Soft Pred. -18.6 O9. 2.9 19.0 4.9 StA 121.0 19.6 1.6 5.7 4.3 -2.2 5.0 5.7 3.7 6.1 3 I.etat 0.2 11.4 1T.6 11.7 56.9 42A4 29.6 11.3 0.6 -1.9 -3.5 -6.1 -3.6 20.6 19.3 4.4 38 lItat Prod.4lomhlerr 33.4 27.5 10.9 5.0 27V -9.1 -29.7 15.1 20.4 -2.2 -12.2 -21.6 -26.S 13.0 S.S 14.0 39 Other 24.3 0.2 21.2 -27. -69.5 24.5 -62.1 1.7 19.5 -5.1 -5.3 -19.4 9.6 35.8 17.3 22.7 Total 9.3 12.7 9.1 5.6 17.7 1. -6.o 10.2 16.2 16 -5.6 -11.0 -13.r 0.0 6.4 9.S iuwsl Averse 7.9 12.0 6.0 11.0 6.9 -0.3 0. NRue. 0Pyf.o.) rUt* S.? 10".3 5.5 9.7 9.8 1.8 3.2 .mt .i W* 10. T~ bntifUd * *......... 1m99 *...*.... **-..a... 1991 .1.. I9 -= OFC 1. 1 1. it. Ill. tv. 1. I1. tit. IV. 1. It. A. t_~ 31 F.ud4ewrq.Tdom 151.4 3.4 14.2 5.0 1.5 15.3 1.0 1.5 11.2 149.2 32 Tentile dthfro-Low WA "1.5 A.4 17.? 1554 W4 1.2 14.9 12.4 64 33 tow o 14P.0 96.1 118.1 98.5 10.0 83.0 107.9 99.8 105.8 76.1 34 vowu PriM1f, 133.9 1#5.0 S873 156.8 111.9 11.6 J1.9 141.9 116.6 131.8 3 .lel 12.? 138.3 11. 148.5 116 5.3 10.6 155.5 .7 1.S 36 solft Prod. 97.2 154.0 218.4 126.2 95.7 136.8 MA9.4 141*3 .3 1.1 sr *t 24S.8 2A0 .0 73.3 1.1 2. 2.2 86.5 218.6 MA so (t.t Prod..FMtlmvy 202.? 181.7 161.2 260.8 M1.9 1.8 t4.3 29.2 2.1 .o 39 Otau 47.1 120.2 75.9 143.9 37.2 99.6 82.4 121.9 4t.? 114.8 i.t.t 167.4 169.1 152.0 186.3 13.5 172.7 O.7 191.7 1A. 178.9 _umI Ali o 1lt 1W9.? 8. hru _uw fru Ie_ qnfte *f tfs prvou, VWa 31 Fod r_t S.5 3.6 -5.2 1.9 0.9 1.5 11.2 1.0 4.8 10.3 32 7tatothlu almr 7.5 3.6 .1.9 -8. 4.3 *-11 -2.5 -S.3 4.5 44 33 foto" Prod 13.0 9.3 .3.0 -3.4 32.9 -.16 -8.6 13 110 -8.3 34 Pu Prlntkl 5.8 3.5 6.2 12.8 -16. -9.1 -6. 4.5 4.4 16.0 35 umIest. 9. -t.77 2.2 -12.1 -12.9 2.3 2.0 4.? IL? 0.8 36 vlt MoC *3.5 2.5 4.2 -2.7 -3.6 -11.2 9.6 2.0 1.7 2.4 37 I.t. 12.? -1.3 6.3 1.T -19.8 2.3 -1.3 -10.9 10.9 4.7 so ftal Pro...dnry 33.6 3.6 27.1 24.3 *0. 7.2 14.3 10.9 39.? O. 39 Othl 2.4 11.8 5.9 3.6 -21.0 -19.6 6 -15J 12.2 18.8 Total 153 7.6 6.7 S. -5. 2.1 5.7 2.9 17.5 3.6 kIam ka 8.1 0.6 *WAu. SNf...) GroW 10.0 3.0 S_worn IetA Cha.g of in_tuy 1id" II. T~sy PPNWit IWOte CapInty UtIlintim 31 fomd.3evwftq.T*ase 74.5 75.4 74.5 72.8 74.4 77.8 73.5 72.4 0.1 69.7 74.4 9.8 75.7 72.8 80.6 79.7 32 'Tattiles-C.thlng-Luths 76.6 77.9 79.1 78.9 19.6 8W6 6A 80.6 U. . 1.7 61.9 80.7 80.7 80.8 so.? 82. 33 foustrv Prd. 59. 45.0 71.5 45.7 61.8 74.4 73.7 71.4 S8. 81.9 72.3 46. 46.7 70.8 09.6 79.0 34 aprPitoog 74.1 73.8 79.9 78.5 79.6 79.7 U5.S 64.7 87.1 81.9 78.6 7.3 80.7 77. 77. 79.4 35 6s1at 9.9 nA. 4.3 69.9 75.1 15.3 79.0 74. 77. M4A 73.3 75.9 74.9 76.5 75.4 79.7 36 %Ui Frod. 75.0 78.7 80.9 83.0 78.0 81.8 87.0 83. 3 ~7 87.1 76.7 81.2 96.2 64.4 81.3 83.5 sr Natal 72.2 72.8 75.8 70.1 74.1 48.0 49.6 75.2 80.1 72.1 67.1 75.9 75.0 T1.6 74.4 75.A 38 Newta Prod..Iushins 69.9 70.3 09.9 48.3 70.6 69.0 72.5 74.1 75.6 48.3 61.2 aJ3.5 46.84.8 48.9 66.2 39 Other 65.5 4686.4 44 .3 72.5 74.1 44.2 47.1 59. 64. 61.7 61.0 67.1 48.4 48.2 65.6 Total 72.0 75.7 73.4 71.9 74.0 75. 76.3 76.6 177. 74.4 72. 75.5 74.7 74.8 74.9 77.2 Caftiowd~~~~~~~~~~~~~~~~~~~~~~~~~cnim am DC n a.1 Mi Ill. IV. to It, Mi. IV. I. It. 196 198 198 1989190o 99 31 Poderg.*us 76.5 75.9 74.3 78.1 78.1 48.9 76.1 67.6 80.3 75.7 73.8 74.5 48.3 77.3 74.2 69.2 32 tettsCohiwLsh 2.9 82.1 79.6 84.7 71.9 76.9 78.6 78.1 82.5 79.3 78.2 81.5 82.0 81.2 MA. 76.4 35 Prwestr Prad. 76.7 83.0 70.7 79.6 59. 64.1 67.1 63.0 68.2 70.8 64. 70.3 77.1 71.5 78.0 43.4 34 Pwper Printin 83.7 80.8 48.6 86.2 87.2 83.8 86.5 82.9 86J. 81.0 76.6 82.3 80.7 76.7 719. 815.1 35 aaod.al.s M7. 77.8 75.8 76.3 46.8 70.5 48. 81. 75.8 71.1 70.9 75.6 75.1 76.6 76.9 71.9 36 f.11 Prod. 82.2 79.9 85.0 86.1 79.2 74.7 89.2 87.0 81. 64.4 79.4 82. 82.7 83.4 83.3 82.5 37 Ntatl 76.0 44.3 70.8 72.6 4G.8 72.0 67.6 70.9 80.0 76.4 72.7 70.7 75.8 74.2 70.9 69.1 38 Nata Prod..Nhdslmy 69.3 74.7 69.5 71.6 76.1 44. 45.2 48.7 46.1 48.6 69.6 71.6 .7 67.4 71.3 67.2 39 Othes 48.7 67. 64.2 42.3 39.4 51.7 72.0 56.2 61.6 67. 45.3 09.5 61.7 67.3 45.8 54.8 Touta 76. 74.7 74.1 76.3 69.7 70.5 71.4 75.1 75.5 73.2 72.8 MI. 74.4 75.4 75.4 71.7 ftwools tatu" Chmw of i9fIStV *AUUS so 1n PWIIUW z 6t J P "VMJ ISItJ It 8ws i; wesst 4ssi "W*A Vito mot 69" do 68 t itt mW St9 as ma mtt smu ssou so SOdW L6W 9W so ff6 moot Ants IDS30'M 016L* ff49 Mt'll 1W9 W~9 log5 MIAMI n ai at U titA zpWa wO 3IAIJ3USil m9?z 11St oWl U9'Z m5Z $"*a bil_mse..u Kg $08 RI 5K on 691 biluiN Ao's St'l 919'3 81S'3 "l'4 sues OJr14DJS 0m.i U 5i5A53 50 WRNIqIJ3UI 1S3U 0' re rs rV Ae &I 6 cza w of m Ono" owl ispi 1191 59& mot S9o im6 01ul mdaI jsopn lawo MottS UL181 1W39 h4 A6L1 ns9s1 911'9 P1q PI>P UMA53 Woav me" mo sin me"a 36t tn LAd* Mon tWsgA 11 .MM U 0g6t Gm a" Am tiM~~~~~~~Sf qi00 -Vqn JSPU@ I Mlqt On owl ~~~~~~~~~~~~~~~~~~1 lul-S re *s rt s re Irt S ri ri re Ili rot wo t 7 L rai ri et u ri ell it re #o*am"* s- WV WV s* Ist £6 rcs r+ rt SI rs s 9a 9's S'S we 'S -Pt 43 W? $*p ro $1i rz- e t @ bO' Ile WS rs r-s rt. rip r t ri ss re t re 1 0fi W 1- 2t' 6- A6 0-t V' S rt S's 9-t 6- lp' S - 6.t 9-lt VS rs VIt' r"&S 9'l- *'U- S'O- rov 0'* -n9 rst rt so I's V VI rtl V1 .9 0 2 O 9 - l i.t *9 o OS rs 9, sS 0 0- *0- *-Z 9S 0.5 StO Ft O S SP F2-S *3 91 Fl r. P 3r9 0-5 WVS S-P 01 6E Ml _W S T ali v-u ri ri ss r t re rs i rs s 2 -S rs it -*S sr I * r * r tt ts rs sr S kw awn *s$W' 9ws Vs rs r'9 rt v-i ro 4 re ri rs or *sfi s r ct r t r2 rv ri r VI s rt v s 8 t ra Got "U Ul In* g aIs0 -as lo AM .m AN *.adp *Jq lg '-u rn .d *-t *q *W * *qs w on *os _ 'm - ,_ ..........................._....... _ a" _WM AIW s-" I' raa TVs VI$ rto r95 SWi itli lii s-tt szut i9s r1 was wo ra r&o To rso 1n 5'19 w*9 re too su O U t, waS r9's" #,9 re9< rgs ri r os r't t' ris V- 'S was eS' ru VI bu ru ru vi rs ra ritS rl9e V'S d'V fO9 TOP 0t O-X rgg 6'grgA " rI S Ws9t rss -959 $-5-| =0-S9l59S r rot S." rnS Ila r re S-n WAS rO 2t rf TO 1'i t'D WS S-0 WIU *36 A'96 t'O W0W A-S r*SO'S *-n9 rP'tt A 9D l't *tS I D 9'tl trn oi 1' 4 I% S " Alm S -9sm rss 9,t W9s; ras rs 9 o69 ret rC# ruW res t-ff rn S-f rts c, waS rS ZIS s-lt Ila rpa 0-t S-S E _dW w 159 15 P15 * St rot rS O-U r r9r 0-l5 S-I 'L r-U r69 ri9 r0s 0r5 iPV ru s0 i rot T-oS a," rig SA rat ru id"jIs,"W ao r e rteS re rss 3 1 s FOG e9 w9 o r es r- rs rn u r9s rS5 s 035 CIA Os r I-i s1-9 ri S o To rPI st tsL = *I- ta"" .... ... . ...,.__.._.~_._.......~.*0t...... __ *s -- v ------- - t; *, A-r a.. ............................... ........................... -.- ..... . ...... . .-. ............. outGw M ..... ... _ ._._.......................................................................................................................................................... __._ 9r 9" rAA I-st S'f rALs irAS r9s r4w r£0 MI 4St bp ro" ni SS,O9S -si t *- nI bssep. Irv 6165 Z'S9V lr " 1`1 04 Z 3 *i, ros FoP c~is rs- rw0 to jami o PIP FOG cli £55 ami 019 go ~ apM "WVej . . ...... . ..... ................ *elou~~~a NO "a wa a1 ima "vim ' ma owna '191 Sb uPa e1 ~~~~~~~~~~~~~~~~~~~~8-~ rt n vs vr s t tr rt Vs va ro rv r-a ra r*i Ot rt rv iv Wit *r rc ra rv rs t I IssS. JIS As ri Cas s A A a F st ri s*a i- Ss rrs t - s 9 i r rt arsrti rra e N t rs ei r*s 2 rie am 11law VIPt 91' 9-@g $10 9Il- 1'2 4'S S-* tl' rl 0*-0 VS t'A 91'ZI ¢A 2'0 o I'§w RIP t91 M. $.,I-Z 41- 9t ra f'ttJ% fsg VS ol>@t ss- es |tst W# i' Ol t ot t' I-t i-t C'S 61S VIt O$ I' Is rs rt t 61 rt 11 " t al s oo- re ir re £5 rS rS- Ii r:- et rA vs So is si * i rs *`s s-"P vit | 9'9 ri 9 rSS ri Vt "vs i AV*1 II 9' *' rS VI I' 1 t- 15 VS 0 rs t IS S t V rt t I'St 9` i r9l *A S' 9'5t t *r u MS iao -h vby Aw ua As *v -u Wav" *'w *Oo *. .e y r w Ay *iS ^JS ^ w o -as .3s ._ . _.__ .................... _S. sinu. AIWass rw s*' ru Sup9 raa j,n v r c oWt raw rs asG rsp 4 ss o s rat rt ra oi wit O'U 9'U * vut rot rts *l U r-u ru ru v 9z7 rip9 r99 6w r" ra vuS r rw' rw 745 r45 NO5 r5 r' 51* r'u r'v VIA r55 NOa rip Use O-uSsa rot 9t9 rgw ols rg rK *'SS 1-m ra0t9 rip 0'95 r-K rs% 1-K l'SS 1's S I' WS Ws$ SS r'S9' ' 2139 9'19 W'"; rt' ft%13 r92 ' ru rIp 3'5I 79 I oS s*S 9l 9 * r# rS A 95 .-5 *- 0* 5t-W S -V V-05 * t t-U 45 U 456r v9 s S- -ni Ms n * ssS rwv rip1 rit ra 9 4 Wit uAm W9 m via S-IL v srat r a 2' 1 P-t 0P* *Us Sl'l 5rat t'69 t*9 19 1-6S 51 *I 1 690 9 P9 9S9 919 O'* 1)9 799 VIZ £1 A0 VI lW tOS LU P'" 30t VU A'Ot 01 0- 159 i9 9.9t 0 9 VI i S " p " Sm"r ....-.-1 .................0_ *o vdas ~~~'Om AWt -W A *tJ * 'm 0p *°r l|a" - 0 nb t Api a As# p_ Nam *W ? lw0t *m _~~~~~~~~~~ .._ ..................... .............. . ....... W ........... __ ...._ . .......... _W M 9'5 79 9't1 l'53 £9 W 1 m )umus "~~~~~~~r il ra 9U1"NS tS9 9S6 $u 99 5*L Sa 759 s rw c 1.1 rot *'19 s- Al" Om VD Ir99 I' SIS " !°ossserA g .^__"~~~~~~~~~~~~~~~~~~~a .1 _N .6n , __I _ _I __.. _ IUSI'LW|it '24361) Table 15. Tnn*er Coaotlited Central GI rr&Mt maet 1991 1992 1993 199 1990 Estmate Estimte target UWJPJES 30,379 S5,239 96.746 171.241 344.400 Sral et 29.939 54,576 95.799 170,241 342,400 Tax avaw_s 25.SS0 45.400 78, 141.041 243.0 Uantaz Raevws 2,438 4,267 3,926 8S.00 26,100 Specal Raema and ftxm 1.90 4.90 13,230 20.700 72,700 6rat 115 1,36 8,43 2,200 900 Tranfers from BFs 1,636 3,24 4,796 16.so0 71,800 AMe dget t 440 46 947 1,000 2,000 EXPEDIInaES 3.,051 67,193 130,263 22*,428 59T,710 current 16,607 33,386 60,403 111.500 180,000 Personl 12,S39 26,465 49,291 91,500 145,000 Othar Currat 4,068 6.915 t1,112 20,000 3S.000 Iwastmnt S,067 8.902 17,146 29,769 47,000 lransfers 16,378 24.911 S2,714 86,tS9 170.710 of tAtch Interst Paments 8,260 13.69 24,073 46,329 n.000 Oostic 5.115 9.613 16.941 33.829 53000 ogn 3*,14 4, 7,132 12,500 20,000 SU1 Truufers 1,214 1,252 12,191 9,440 20,000 PSOET BALANOt (7,673) (1,955) (33,51?) 06.16?) (53.310) Deferred and Advance pavynts - net (639) (400) 90 CAIS MALACE (8,312) (12,355) (33,42) 0(56,187) (53,310) FEPACIWG 8,312 12,35S 33,4#6 S6,16 53,310 Foreion Borrowing (net) (209) 41 1,921 S230 1,310 eelpta fro loans 3.588 S.489 10,8J9 19.84 22,366 P0)mnta an Loans (3,797) (S,448) (8,968) (14.431) (21,056) D mstic torroung (net) 7.434 10.205 25,7 43,616 S2,000 edium a*d Lung tea S.982 7,942 2,279 13,606 49,000 Receipts 8.983 12,S23 11,510 33.782 ff.000 Payents (3,001) (4,S81) (9,231) (20.176) 46.000 Sbort-ter (not) 995 1,932 12,7B 12.419 (24.000) Central sak Admanies (net) 457 331 10,719 1T7591 27.000 other t086 2,109 5,718 7.340 0 NM Item adgebt deft exctudig gant. (7W) (13,59) (41,951) (8,37) (5,210) 6. 170,412 287,254 453 207 m,319 ,22,82 1s beflator 6.3 S4.4 SF3 42.1 S1.0 Sourem: U0 TAle 16. Twtey: Dombstfe Treay Serroetd (Iin-92, In b1ilens of Turkish Itre) -^-------*---------*-----*-----1 2 ----------------^------------------------ 1968 1969 1990 1991 Jan. Feb. Nwd. It. NW Juw Jly A. SeG. Oct. Om. Debt PS)1 %d wing the perlod 1,6 2,251 4,433 13228 16,18 14,410 16,S48 16,3 11,759 6,048 1562 14,856 25,903 20.13 29,350 Principsl 1,251 1,73 22 0,773 13,M 11,82 13.761 13,41 970 6.614 13.866 13.277 20.159 17.323 25,761 Sends 173 15? 482 24? 1,991 1.31 2,046 940 698 23 623 592 98 1.319 2,421 Silts 341 536 505 3.800 3,034 4.97 3.0" 3.14" 11 1.976 2,939 3,605 7.912 5,293 7,119 Consoltdmtfem 0 0 544 0 508 350 5,000 2,190 309 367 308 0 350 306 886 Central r* aWIm 6W9 1,042 1,252 6,?Z S,219 S,180 3,638 7,201 6,U22 3,998 9,99T 8.681 10,914 10,406 15,335 lntertt 37? 517 t,6f1 2,456 3,006 2,538 2,77 3.229 2,059 1,435 1,616 1,57 3,r44 2,815 3S.90 5endW 2W 366 598 1.692 1,S7 1.006 1,S50 2,189 933 350 s55 So 905 8S5 1.825 Sfils 1tt 106 f 764 1,0S 1,42? 72 M58 642 6f4 9f5 1,04 2,5 1,506 1.69 Casolidetfmn 0 0 927 0 196 105 554 10S 484 lb 65 0 105 92 1o5 CentrslMA e dvene 0 26 31 0 183 0 0 7 0 290 0 0 0 291 0 Cross Sorren wliu dbs pw. 2,n0 10,250 ,776 19322 4S,169 `14.75 20,174 18,06 12.5 9,646 17,211 18.S7S 29,193 25,76S 21,726 Sands 1.099 4 1.714 1.S40 31,311 4.094 SS4 14SSS06 2.940 969 2,252 4,56 S,89 7,474 1,37 Sills 440 326 1.030 S,315 S,73 2,041 2,247 3,224 2,739 3,46 7,044 6.61 10.SS6 6,8 9,66 Ceostl4dtle 0 8,000 3.500 3.000 305 350 0 0 309 367 306 0 350 306 350 Central Put advnce 1.012 1.45 1.491 9,40 7.020 o .,2n 10,34 10.335 6908 4*904 7.60?.12 12.478 11,099 16,934 Set borreudtn dwe lb. period 1,540 5.0479 6,055 8549 6.850 2,0K 6.414 4.590 3,196 4.198 37m 5,296 9,035 ,"444 2.96 oends 906 30W 1,272 1,293 1,140 2,723 5,50 3,56 2,242 1,62 2,056 3,90 4,6 ,SS (664) Sfils 299 (20) 525 1,575 2,700 2.930) (830) 80 68 1.430 4,106 307 2I.44 1595 2,567 Consolidetien 0 4,f3 4,810 3,0 3,410 0 (5,000) (2,IN) 0 0 0 0 0 0 (53) Centrtl __a advne 3.5 47 240 2,681 (399) 3,092 6,736 3,134 a 906 (2,391) (1,69) 1,564 694 199 Debt stock at n of pweid 2,2 42,16 s7,469 90,49 96,89 9,765 106,179 110,769 113,965 8.J 121.934 27,232 1M.267 1A.711 147.676 Sends i9.416 10.940 19.091 24,697 25.818 28.542 34,05 37.616 39,88 41.79 43.M 47,74 S2.572 s8,n7 58,06 Slills 3.48 3.53 5,469 16,258 20,958 18,02 17,197 17,278 18,14S 19,5?6 23,681 26,708 29.352 30,948 33.515 Centoolldtion 12,260 2S.000 30,048 33.504 36.914 36,914 31,914 29,2 29,124 29,124 29,124 29,724 29.724 29g724 29.13 Central Bait s* nime 2,082 2,539 2,870 13,589 %1,90 16.232 23,018 26.1S2 26,238 27,143 24,M13 23,055 24,619 25,312 26,911 $urew Tsurry mnthty Indlostms Table 17. Turkey Int t 1 etas an Sovem* S end *1d Tramcwy Wi Aetlim . 19- 92) .......- -.-----190 --.--.-.-.- * o ............... ..................... ...... ...... ......... Juty Aug. Sept. Oct. 5ev. Oe. an. ft. rl WprIlt Ny JAm Juty Aug. Sep. Oct. NW. DUe. A. intest Rat" au Trearwy Sit to amnw .. .. . .. .. .. .. .. .. .. .. .. .. 70.2 60.1 47.0 S-mnts 71.3 57.9 48.6 61.3 72.5 67.1 8.4 8.8 52.5 45.1 54.5 5.1 40.4 69.6 0.4 SO1 483 47. r4 6aaonths 63.1 54.8 55.8 55.5 71.9 69.0 68.1 68.5 59.0 45.2 46.9 62.1 68.0 73.1 61.9 53.8 46.? 49.4 9mmths 62.0 60.1 60.1 S8. 72.5 71.4 68.2 68.1 56.3 S0.6 59.4 62.0 61. 67.6 d8.8 55.4 49.0 S2. Ocweant lands 12-onths; 61.1 59.6 58.8 58.4 70.8 67.6 47.5 6.3 53.9 S0.6 S4.6 S9.0 59.9 65.9 65.6 5.4 51.7 50.8 -months 59.6 57.0 55. 5S5.6 64.6 63.2 .. .. .. .. .. .. .. .. .. 24-mnths 60.2 S6.0 S4.6 54.r .. .. .. .. .. .. .. .. .. 36-monh 60.0 .. 53.5 .. s .1 .. .. .. .. .. .. .. .. .. .. .. .. 36mniths .. .. .. .. Vrltarlbte .. .. .. .. .. .. .. .. .. .. .. ..b.. R. _uimt (IL biltion) trewry Rlls 3-months 131 196 73 1 34S 176 322 1S& 170 1S6 50 148 200 "4 M5 152 162 t50 6-monts M201 38 149 153 211 135 230 150 fO 150 200 171 224 247 64 33U 217 53 9-*m 173 74 193 95 67 1T? 300 27 2* 200 200 20 1S0 250 502 51 268 205 6Ownmnnt land 1-months 124 2 217 367 313 n W 316 24 341 285 219 264 S9 6541 M W67 587 24-Mns 20 30 100 Si .. .. .. .. . . . .. .. 4. .. .. .. 36-s fth6 .. 10 .. 48 .. .. 4. .. .. .. .. .. .. .. .. .. 36-mn t/sil .. .. .. .. l17 78 .. .. .. .. .. *4 49-mth .. .. .. 150 4 12 9 15 .. .. .. .. .. .. .. .. contreud . ....... . ............ . ... IM JK4 16. P" NOY JWW JAY AIW top. ftt. OlW. *W. im rob Rank W. OBW Aro Abuty he. 016 ftt. *W. IfOWAY MUS I-MI48 3-Mol" ".5 47.4 4T.S6 4Tf 4?.* 4?.6 04 W.; ".3 VA` dO.'T' ".3 r4j, W.'o, W.'i ".1 " OL't' 03 WI %3 %'.#' IL's 6-00" UJ 47.7 49.U OJ UJ $1.3 9.1 P.? MJ WO ff.? 42.T 0.7 32.0 Yt-4 00.2 ONJ W.? MO IS-4 V-Y 86.0 ".S StJ 9 mom $OA WO 49*96 $OA SOA SCA %II 51.2 SSA WI 04 $7.8 66.7 73.2 X.7 7U U.# 1W.5 #T-S 104 30.8 mi wA U-Noft SCA SU S6.41 lG.S SSJ "A N.S 90.6 9.3 $1.7 90.9 0.1 dSA 40.7 MO 15.1 40.0 61.0 IOA Mt 17.0 73.0 10-sm" 26-mome 36-OWAM 364MOS V 404mwft 46 ftwAt tn tdittigo 110" l0l lu "I 10 A A ta S'e, 4a A so"' M' O'n' ire W is M "I 6" SY4 M I'm alsit tlm IIAM 6 ni 2is ist "o m m 4a m no so m "T t" so M M I*m M I'd to M I&M tsow low 0 -dbs dn 254 is W M NO 234 M 300 343 3% M M $St I.M $ft M 46 of D4 du M I.M awwrom 9=6 U-Mobe M 473 353 30 310 30 M as M in S" M M 1.478 M Im 4n 40 Mt tW tM SAN 36-=WAs 36-awAft V tWl 17. tur%lks Co*l*| .~~~~~~~....... .M ...... .......... .1M. hE>. ftbsk Wit VA Ams MYl AU-. W. ft. V. On. A. lnotftti.01 3- "~~~~0.9 S&J 4.0 SOJ 93. 98.4 M.6 Sg. 9.9 97.9 98.i 96 5 6_MO SS.4 8.t 3. 83.3 8.4 9.3 tJ91.6 MSg SPA $.4 0.4 t9. 9-at r6.9 76.6 76.6 78.3 $0.2 #2.7 12.8 81.6 U1.2 U1.1 81.1 J".S 12-md 7t.9 M1S 71.5 n2.5 n4.4 nA 75.2 n7.6 7n.2 ns3 n.6 17 i-wd *. .. . .. * .. . .. * * - - B. _*m M bti1* 1 _mnl .. .. so .. . . .0 .. so .. .. . 3-ne 2,2Jt 4|2 32t 1,102 106 2,90 6,002 5,600 A,ow ,22s 11,09 12,U92 6-wndo 2,tSO leaS t,13 aX2 t1,7 r7B tuX0 l"01 5,U" tU 6s 1,7 9sendl 3,Ws rsr 1,734 7r 1,249 S25 1,U" ,012 3S 3$ S36 1.30 12mob S,m7 4,516 4,67n 3,io 2.09 ,ff9 3.$ 3,47 4.662 3.16 2.961 6.09 11.. .. . . . . .n.t. .. .. . 24 - *- * * - . *t. . . * * 36. . .. .. . . . . . : .. . It oult Of ewtlf tale 10. Twrty: P it a Les Aceate of NU (Excludis US wii Privstfgtlen sdmm) to-93 tw t 1987 198 1989 1990 19 t E " Tat Solte of Sgodi tu Service "INS 2740 47,212 76.931 719.35 43l3 216.711 Ot0e Ise toewm 48 546 787 49 1260 1,991 1549 Uuups_ting Reveu 93 1296 2,313 3.45 468 6.05 5.070 totl Cuent RlVeWs 18,339 "25 50,12 80."9 3.2U3 151,67 223,330 Cot of Goo.ds ad Seve Sold 11,435 16,M 30,949 5002? 53,2m 102,430 141,260 wspreetemn 1,284 1.316 3,90 5,341 7,210 10.7 14,112 ntst 1,103 1.579 2.071 3730 8.427 9,684 16,t9 PvsIan 87 13? 243 44 M1 534 6 PrAesas for Ehug Oelf toa 234 1.393 1.221 1,613 10.039 13.54 14."4 Othe Upue 3.,168 6,174 11.3" 20.86 28.77 45,00 67,397 Total Oeret Supuitur 17,331 28,362 49.839 as.027 l08.58 16193 254.268 ot hiRdbs Vow ud Seres, 2,031 SI0M 7.S 1S,3 2895 S0.296 77.75A OPertin *wAptus" 1,008 U 473 (2,09) (,3W1) (30,00) 00,9 ) Direot tax IlMigtiqmu 676 TOO G 1,031 1,39 1.5S1 3ff9l Opeting rplmWtos after tex dAlmtfos 32 1t (391 (3,123) (24.,4) (2,41 3,489) SeasIdRes 27 37 25 22 28 is as After ta eaitb*1 in 359 216 1367) (3,101) (24,715) (32.423) (31,81) Of sAidme Delard Di,I 0 70 142 362 6 0 1.100 etrined Samit 359 1U (S08) (3,4) (24,715) (32.421) (35.961) _e It_ m Duty Loes Acmed oan 6ooc Sold 173 22 605 1.15 5.695 14.301 11.247 Operating SurpltId.ficft, adijuted fom accrued duty ltes 1,2 1,157 1,103 ( ,25) (16,491) (19,463) ope ratl, Swaus/dfifelt. SJ.stod for asuad 1_ty loe. fn pernt of total urrent mevs,.l-tcludiue stcred 6aty lose 6.S 3.9 2.2 -1.1 -19.4 -t.0 -8.4 Seuree 00 Table 19. Turkey: Fineni NWq.rement of ne (1967-93, In billioen of Turkish Lire) 1992 1995 196 19 199 1990 1991 stim Target Ffxed InvestOent (3t316) (5,130) (6,929) (9,861) (13,144) (11.090) (11140) Chane In stocks (1,351) (2,04) (3.7301 (12,159) (135552) (4017) 2439 boHng In fixed a""et (315) (462) (410) (3) 39 (801) (1.'60) Wqulty fn joint vwnture co pfnie (10) 2 (53) (66) (21) (140) (216) Legal r emqrent ftdob (6S) (74 (122) (165) (26 ( 228) (589) Total finwncing req4Irement (.057) (7,7I8) (11.244) (22,26) (26,665) (26.206) (47.064) Intemlty wenerated funds 2,005 3.993 S.099 49S (6,624) (,426) (6.,4) Retined ernings 360 147 CM0) (3,464) (24,714) 02.421) (tS,061) Oepreeaftion 1,284 2,316 3.96O 5,341 r,210 10.31U 14.112 Prvtioon or 137 243 646 641 534 465 Provision for exchange rate differences 254 1,393 1,221 1.613 10,09 13,054 14,444 Divided other than Treosury 20 0 183 357 0 0 0 Finswing rquirement from outsfde sources (3,052) (3,745) (6,145) (17,761) (33,509) (34,70) (53,S11) 3ucetery transfers 470 1.054 1 t258 1,394 11,359 9,717 20.400 Capital 260 "64 1,024 874 10,2U4 8,945 16,000 Duty lomes 166 350 190 m 943 495 4,000 Aid 24 40 44 142 168 27 480 Sqport sd ePrice tatbtiutton fud 0 0 0 0 0 0 0 SWport and geveqlopent Fwd 0 0 381 S65 949 0 0 3M borraeing reqirement (2.SW) (2.711) (4.506) (15,802) (21,201) (25,05) C(33.111) Deferred peayents 2,080 2,698 5,S24 13,153 24,659 36.483 46,561 Advance payfants (2,095) (1198) (3,075) MM) (10487) I'm (9,0) Cash finaneing requprement (2,54O (1,961) (2,057) (7,428) (6,949) 13,241 4.400 finenig 2,518 1,961 2,057 7,425 6,951 (13,240) t4,400) Chag In cash betan (2) (492) (1178) (500S) (" 551 365 Scrities nd dmoits 100 89 41 91 (41) S1 35 omtie bwk leading, net 1.474 5 2.231 S,98 9,451 (10.639) 2.032) Central bu* s56 308 0 0 3,39 (3,113) 0 Cromerial bans 754 30 2,474 5,225 5.406 (7,141) (.67) Exishnt 14 52 (243) is 16 (0) (153) Uorew bowing, net 1,2a2 1,699 963 2,53 (1.570) (3I28 (2,t768) ReeiXpte 1,912 2,S20 3,96 ,.032 4.914 4,954 7,541 e_nts (043) (92t) (2,943) (4,496) (6,4) (S,1JS) (10,309) SourleS No0 TWO 20. Turkwe CuwoldiO4 A.mto Af xtre fA,ery lmb. (1986-93, iwluiiag SOl mior The Privntztimn _ tb..) (In btlUien of lukEds Lira) 1992 199 19 19"8 1986 197 1968 199 1990 1991 Ietlmte let *ve"M 196 13 2.4 2.823 6.045 10.07 18.679 2,419 48,18 4,300 Tax vall" 75 362 1.193 1.676 3311. 5.815 11.199 15.995 32,620 53,115 NonTax nam 119 97 7 258 "4 767 I.2 3.00 3.4 4.96 Pastor Inm 2 127 219 s5r 1,648 2.704 2.396 3,4S 3,M80 5,06 Cwrent Trafse 0 0 12 53 m 6 1.00S 955 4 Copf'tat lrmifer 0 51 11 550 999 2,407 3.914 7.566 20.43 Expnditure or 423 1,56 2,39 5,346 11,245 22,031 35,746 61,103 103,757 Cemrnt pE ndture 0 1 3 4 93 456 1,41? 2,290 3.276 7.26M TaxEenditue 0 45 79 149 19 97 161 249 697 954 N-tgx Epmdinture 0 0 0 0 9 38 31 308 614 00 astor Etxpeture 0 14 21 4 100 616 1.304 2.507 2.310 4,56 Current Trfen 62 3 97 1,379 2.6 55 4.5 8.411 11.m 22,S24 29,128 Ciptiul EJxpUIStures 3 139 389 489 1.295 3,338 6.027 10.237 16.818 27.399 fixed Inwestuent 3 139 389 409 1.052 3.101 s,2m 9.059 1S.S9 27.082 QWq In Stock 0 0 0 0 242 237 749 31M 929 317 Coptelo Trnsfers (ett) 21 122 357 327 605 2,145 4,680 680G 0 14.864 32.ff2 msuplus () or Deficit -) 109 213 o50 431 699 (5S7) (3.352) (6*327)(12,917)(19045) rinuncinu (109) (213) (850) (431) 699) S6 3.351 8.32r 12.917 19,457 Foreign (Net) 0 0 (0) 64S 9 0 649 (20) 1.392 348 5.072 oramngs 0 0 1 713 47S 644 514 3.4? 4.781 9.932 lqmte_ 0 0 (1) (69) ('77) (26) (534) (2,055) (4,433) 4.860) OSmti tnet) (48) (16) (46S) (494) (05) 1,455 4,385 8,107 11.80S 14.677 Chng In Cauh/uks (ltlt) (61) (2) (385) (582) (9 (1,475) (.014) (1.172) 74 (M) 30r3 SF0 tOl. 21. Ty: NdMIc falncs (136-95, In bttlfns of Turkfio Lire at curret priceo) 1992 1993 19186 196 1988 1989 1990 1991 Sotim* Target 1. Taxe 7,194 10,906 16,338 33.727 61.175 103.461 1U9,52 323,s57 6.01rect 2,904 4.318 7,082 14,631 2S.9S3 4.462 79,768 130,922 b.ndirect 4,291 6,588 11,256 19,095 35,222 58,996 109, 192,656 2. NM-tax ml lucas 1,51S 1,316 2.131 3,116 5,219 6.258 11,388 14,959 3. factor Incme 2,628 4,223 8,201 11,412 12,478 4,061 4,S02 22,853 4. Social Func (99 211 (323) (2) 396 (1,60) (1,7M7) (675) S. (Current Transfes) (3,8) (6,441) (10,806) (17,76) (26,001) (38,672) (,706) (143,600) t. Ptbhic Dofp. Inco? 7,649 10,213 17,542 30,256 53,266 7n,30o 124,36 217,115 II. Current Expenditure (3,491) (S,23) (8,704) (19,471) (40,075) (72,1753(129,555) ( 11,693) III. P"hliC Saings* 4,157 4,950 8,838 10 13,191 3,129 (4.M92) 5,422 IV. Investment (S,247) ( " 19 (10,m 1) (16.943) (34,471) (47,702) (62,091) 116,139) a. Fixed Investmnt (s,222) (,480) (11,451) (1,356) (27,891) (47,030) (77,711) (114,046) b. Stock Chwso. (25) (239) S20 393 (6,50) (673) 15.620 (2.093) V. Savings-Invest ent Difference (1,090) (2,769) (2,093) (6.176) (21,260) (44,574) (66.683) (110,71) VI. Capita transfes (21S) (673) 1,270) (1,691 (2,S24) (,424) (10,130) 21,161 a. taes on wealth 118 201 302 354 997 1,31s 2.122 3.092 b. Cther tramfers (7M (112) a1 (52) (705) (1.402) (2,283) 33,022 c. Inreae 1n fixed asset (316) (761) (1,716) (1,997) (2,81S) (,366) (9,99) (14 ,93) Vll. Change In Ctash4B*korrmhinq 1,304 3,U42 3 363 7.871 22,298 51,9 76.612 89,556 *. Change 1n C*sh-3a.k (1,179) (1.590) (2.521) (3,615) (4,301) (4414) 1,590 (6,119) b. Foreign Borrowing(net) 1,083 2,015 2,695 1,815 35,95 2,477 1,72 7,253 -Repayments (1,237) (1,944) (3,73) (7,211) (10,615) (18,265) (29,64S) (38.073) -Recelpt. 2,320 3.9S8 6,448 9,096 14,240 20,742 31,367 4s,352 c. Domestic BorroinI (net) 1,96S 4,138 6,062 14,322 30,791 67,308 94,12V 109,107 d. Stock revaluation fwid (565) (1,122) (2,873) (4,451) (6,281) (1337) (20,627) (20,686) NeM Item PSBR 1,S69 4,5Sa 6,23S5 12,322 30,085 45.371 9,U439 110,242 PISRGIUP 4.7 7.8 6.2 7.2 10.5 14.4 12.6 9.0 UIP 39.370 58S.65 100.82 170,412 t 7,254 453,206 774.319 1,227,682 sources SP vint s.ws-2 an S4 PPPsA2 s*z5 £uswwmsm mia sene I- *mom .au *a sum alen&s ptx esg ghemmes "s .am n p .-a 5*W Ut's 555'S. Ps's tat's M's lu.s at's Wt's Ms's gw*t ats's st's M's Toele Is': see 50q es a. mi cpna ' S'0 LBS 553 itt is se~~w'lteo "no," weus se's swu ast'sg galls esasesalen allst esres mags u-a' tooet (tal) 00rn wn onto" sws la cissi is;, nst tw't uses sat', nos' uV*' sIc' to;,* ana' ;t't Ot,* M. 'Bs, etc's ste as5mbpt I I ItsofIS 5's: sis'. sn's, tslas stss dua Mg ga's sate on't guvst me s stanslo 0- aBt 555I 655115 U On"5I '4 1 l " n ^~~~~~~~~~~~~~~~~~~~~~~@5 *isui *u geaJ)s_ w 1*U eg'g a' Cn*'s at's ttts' 550'S bLOL 555 Bi tCUt KS 55'S 554'S ass's u's 'g ss 5 b 1 *_ ts*C 'd ,'ss *sw es use4 t ss t't ws tat' va'55 eas N'U- U5N'55 555'5 st'" allot sties as-s su'it ega s's (5+) IPessAM"u tug wa jfl (Bets) 4901'53 (CBS CuS) Me (all 5 (as ("I) (Ms) (M5) (555) s as anls Ms mn,aeIm sees '- - *'e " sun tws aUwn Cts'gs sCn Ul sts Ite't gM'so n '55 St5t5 'ttiWtM eutt eK i't $"*a Olts oul Coot) LWe 'Ut '' ' s's tstIt eee gsa Mes ea Sa eM Ins ea Mas Otst sIt eta Ins as sm,b 5g-ms 'I ( esn e nt'tgte ns sit ea fto aB eet s ta" t eat sr,* at "a Its m- ain3 £zoe35iq-wap3 I' *rs) *-els tnt' wi's LWs sat au's sos's was' us's asIt gtltt aB tel' tee u (ttw t l tat q ets as *Abd.t *as Is s*' *'4s wild usue st's nt,* see s lw's Uets us's tie's tsn's sn'ns stw's Ott's en ' i at3B' t ' t is *'s Vt uglow sa'e oil" I oses stal t5B's 1I's ms's gas's0 see's rut sue's ptm_. huaau 'g 's- s*- OeUl utes tt ' $=In Oulu 55'5 slt Mom III-Lt MseI teo," iss's; *te's nsa's Ao -1_aW 'I 5w Ila'U $-5t no', all' at,' ewes rseeet soe'e aite sa's. g'es eon ve'si aset ms'st s so s'o: ""of stes la s*ss s'- n ,U swa'ws utsts ut s n l n 'n ta'sg tM'S utt'n ' Mon ats e site sass n 's oes tusa as's "tSW 'Swims "a 'Al ss'ss sass's) us.t's 1s:'s: ssesls liSt') ("Is'fl s) ( see'-stow (sn'S) (tie) taue) (as) foles) ton) (No) 5U6 'emiz 3seo 'M - s: was's Us's d's III'*t nas't us't gs'ow tot sen's s's Mts's iu's 5*e us' 4u's &*ae 5.sss eq t aT le '_ isSa t'ss ass', sa's aaa s', sgg',i sWe'ls see', mase Isola gala sss9 Sella esee;; em's: getssf Mo'S s-"as ussutmsas ' 49si0 ts,wt ass, twe', ass's otas's la's st'os sTooe soss us's e'se owe's Ga's sela' ess's asses- 1403 'f 's a$t-' e n'. tw : 'U "ts'g tst'-g te't sU 'e s U ,ssc as' n us'm oB Sae'n sscn ass,s ts's Oli etvpat " sa1 s **n z* +~~~fu * 0,9 us, n U'C n " nt's ncn,: stet OtUtt, sts-t Cw U m U ttt'Ut ne'ue Uo,s US'# t't (0 TIX*61" t"t Int 631 55 (i'll) * seuts) tas?) *tm'mll) toao) (s'lts) ( 49tU 91st'99) (SWIS'Sl) (ee'5) (a9e'st) (atel'sn) tt es'1) tt se't t l tt5U'dtl) (sso's)e -* eS1ss s now-Os 't VW n W Z sit OSs," gel's stls-t so's -set: Me," etan *t't tt aUt set': ate'sO eat's gtes, U t sa's eo*u _ s;ae ' as t L'(toau ;stn Sew(N 9SJU l t' ') (l55'e) t(Liat'S) (S (as:' (N'S ( tt's1 ( s ( 's) tsesa, as eIa ' us u',uaensn- ss'ar tZ'O ntg'aass OCg gg';gb ae'*srAs* 's g'ss*'Lqe seesa m'as's ss''U* agts'Ue t 55s'a 55t5' Lee5't tt5' n t I'll am mssssq us 'ss-saus= *- *-o rn "log, 000,1g,000 0041c,"01 90,14-wo u,,das ornn'gg'AMg 5 9twi C eqt tt u.ssssgguss n ss *nen m tt no tte wse9 Use 9teo 'n . SW 1010,98-t)gtXttt ){u lttalUtt t , t8 t # t0t"tt i Utttt)ntan ee )*Xtqt"" t tSo ms we u n CC ansntn"9tt e lt nt"nnnttnne xt z OU ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~~~4 xU *emi VIS *n tt (} tO twUI Ett tAa ¢t %9U "U *t ttU tU) wn* 90'414plOliP W"OVIVS94*% aUlV sV so'6 us's IVIR' M"* rn's u', sw,' ew'i Wi9 ws< a' m`g LWs t' m awtv soq eqi i.p Dl* V99 wi9S PIVSP JU'W t111s swat 0' t, lSt ' w5 S uwit iwu uwa iew votn ite manwsi aja met la CPL ISS US' S'S u S0M m et 'S mo 'S &KW O 'S WLt IiI'S 151t mot met ae4s poulp Dm Wu an'gt two mt* W'it 9n1 UO 9Wt ' IW9 9WK Ut'E U'1 9` s'U h thutlll 601usmn ianw 111 U ni m's, rn'st uus'u, OUis'e iis'ss uois &ws Ws'is uuos uw'n gtp'ss gs'gg wtu ttaaoul bmw + MO) SIR 1SIt uot uM'i.s on's n' Ist ots's W'A* st's AS's "S9' on "lum (. Lan) 'A ISP 14 1W9 LW^ 2I l'ZlS JR t1 31 '9Z *1 35 lt Ci 69 1m . *1 919 ont ov,t twtt "C tAt awn su o t atn loon a g oge Su've mou t *l)vmM"' Wm ule" Hs Il a W alipt l 0 P35 awtv Mon Saf moot w6 sn5t woSt OSlv dt Ulric *9 US L15 a-woes qul"ea Lahs Aq u I (SI9 SP'L S l'S in ASnSS 1W1 Su1 t'at on ii' Ei' SW' *n las =d uPP iusp SI IS glo e'i mt'S ml's glo' UsS'P a" ciSs'9 l19 O'S 13'S ( "9'P WIL M 1 1JPq It VW m@ll ga'h "g1e't t IS '0 L"s'0 UL,t SUS U' iaSot "99'i1 9 '*PL Wl'tk PUWAN '9UAaM IS FS G9'95 soL Wm a's uls 0611 45'41 hIY'4 SWS OPS mts OmI g'~w' ug ue Va t'S 3' S 51'IS iStOt 696'Pt iii' " o@t't 361 191 ' 6 156'LS on motH 'wU 1530" 0 o* MO" istso uSs'ff IWLt UK't A95'St Wont 5U'1t Ns t la SI"go, S1'65 z'9t } MU *S S 3Is A (s "WI) (MS'O) (91111s) (9U'tS) (twol) 419'Y) (M%S ) (Mo') (AwlV) (1L'1) 4060 Cu'i) COWS) 3W *i$t mo IIt £5t iIS 9' n's 0e O 11111,9 515.9 93' "IP LWPs a**$ $01'P mti' lSO los 'POSY 1*0 " l5 u111130 316 la 053 su it s i'iI 'S lI'U WLS I ' L9'JS 959 *9 ULL 9l'P '95 3 S *I rw uW Mots w0s 8'Ot "'et 9u POPt 'Slt a't Sut MO' aL't s5 ) l It SW" 515 LU'9S (LWU) 55'S 099'S PI6P'S gggl6g U5') 3U99 (Meg') (gala,) (UI'S) (tull) wilpmv moo"m lam UW'sYs Wwoe@ WF WA WO F3B0 IwaSW WG I61SAIII'`14WINAIWWWI.M 1ioir'ivf WarmUU Warqed Wu*-rwu noe pem-np44f aalpU 5353S , MJu ,lS~ --s O.n.V ." ulf r*.2Mlg O.V Ar.M2 .*f 0W.W.2 aa2*." 41A.M Av s.L sAf O*tM.0 OW.V. DWe.s. *Wr.V. I.s t U g.tt aSt Sill 78 cS a.l3 dm6 a,"") (16s9 low 3.5 6564 ?A4? M,U2 G.17 4,0°A 1. Fwerotp idet 39.315 40.954 41.065 39,44 39.53 43,W6 46,95 355.67 43,64 o.196 mom93 w9.61 773 "5A L hblwlm U l1tieo 0.36 (4,m1) a,80 45143,) (44,96) 048 ) (49.5) 03,97 (5,"" ds.*4) (3,13 0"9"1 4t1.65 545 St. 1eeI stb CrPetd (13 6 7 9 1,410 r 6 7 9 iD 7s,7 9 96551 01,56l 101 Mom 72A 1. eilt to ANt e ct 54,20? 46.7A a1 3,3a6 73 s,5a3 5,. .9 93 9.5I 91.45 O300 72.L t6niltd 21,779 ,56 301 4,931 Rome5) 5369 5, 5360 5,041 5a,6 5.6 6,156 ,32.? WA . S iattassue 34 3M,M1 3,51 29,309 3,108 30,461 3,79 35,601 37,79R 3,4 36,10 35,19? 35,67 8 2. creIt to te f _ Setws 5no 5,710 , 6.3 4, 6,455 6.4 6,6 6.59 6. s 9.5 9449 75.1 Ill. Otsm stm, aet M (3,138) (116) (3439) (3,141) (3,14) (1.913) (2,64) (1,571) (n9 1,463) tI,24) (3 a0 tv. Set ON e es* s 57,goo ,33 4"ii7 74,61 l2a," Now9 wOW 11321 *,"0 16.813 166.632 1o6,674 11,61O M. V. Tout umet 57,31 64.16 S,56 7,23 7,7144 6.670 U.1 94,49 100.3 1 6,38 10Wd" 110,12W 11T,S84 14.9 I. Assess Uuu" 5.669 _38 39.o6 40,32 41,54 a4 467 49, 51,96 536 "6017 S9t7,7 o,37 r.1 1. @n.u~~sw Isetad ~ 26,167 36.4 3 .44 337U 24,11? 53 1* 3668 o9, 36.591 3 a45 33,? 34.71 35.Os3 9.3 2. bpIred pseuwe ~~11.8s1 12a 12.69 I314 1347 1,4,6 14.91 15,54 i,*m 17.313" IS.1 18,41 1905 49.7 3. Fee _. of lb t&1w s. 3,43 1.9 1,47 3,33 335 2341 ,943 3,43 3,66 3,63 3,443 3,57 4,62 53. of t a 1.1 t63 1,40 1,60 1,73 1,512 1, 12130 2,50 2,196 964 2 243 1,794 W *. 39 347 84 3 3o 357 443 376 373 431 34? 361 7.n71 It. _ t6) 41,3 ,469 5, 49,61 ,2 54,3G 59,O36 41,IU 4,45 64,3 15,s55 78,941 01,661 96 6. LIittltg. i.e to Mm, _Ibt epwtlen 5,312 4,ol 6,731 9,369 11, 10,66 13,76 132,020 3.432 10.1 17.540 19.174 21,9S 3S. ett. C*al _ Se* 'sv Stash (N.?) 43.56 48,49 49,158 54,717 59,7 40,979 64,7 09,6 73,178 73,200 61,541 61,31 5,.70 105.5 7. 9.49 n d_alts 1,43 5.5 4,144 5J3 56,02 6,41 5,U44 F7.r 9,137 11.943 4,64 S,3t1 64,3 339.0 tt * mid* t {Irl n. I. LelUtt.s ( ) o,m 54,3 "5,4 6t,w 0,16 49.34? n,owu0 o,019 a,113 67,471 1,Ss ",VA 1055 166.7 6. M tsed 4nsIe S,39 9." 5,449 6,60 6,0n 26 11.161 16,33 9.940 11,4 9,669 9,t0 12.4U 139 V. Total et. ULIi (9tt 9) 5o 7,314 61,16 N,5 n 77,144 t,614 mo9m8 94,498 t 1 107,49 1lO.114 11,5s 14.9 9. 3 d_ew. ob bse el. 9,9 9,11 19*,14 10,446 1,3" 1t,48t 1314 140 15,74 5,47 16,149 167m 17,26 05.2 gass: _,*W .. 06 133m* so Aq p.09.36 04sa A-sawlift - peazeK ea omaulid*inmi 39`60 earnso *%*s5ext9 e.us l.j 309nt f -. 15us)re gm-Si) (0flt is") gmt 4og) 3 toss) 495) to"1) 4W?t) (LW) 0 on sot' sot moe owmo mowl.tSWT ' its,1) at, we me OK an on St In t we sow no , Us Its mogo; Ivat.-OK le 0106ea t,o) it up at ont on, oo to ,wO t 4 o m_ 15 3t 5 g VW Irisi 16It s.t*i ss sate ow': lull s".I Ws' £91'? MIT g t u,O 03s tlull tu "u* £Snnqnw SW isovoalq 1-'t M.& cal sOSS oct-g mt to ts'S sov.S o'S t'S two tit C tW C It's 055' flt# 3 netst -- *-1 "*s- e'S Vale gold full set's X s6't ta' £st tteU& u*wa sit' -ug i., 150': Uo tooE.o e*ow. Ot,vtt If ? 9 "St " Saa9t Ut' n" c -t'S Ol'S oW'?t nn sn. "tn tl' s 1t 0' c ntt'S M,' tot's u , Isc's V-I tb . 'I *'u s*' tits *111a's U"'s ut's gt's c's SI's gu'l 690S tS'S t's Us' neS t "e's nwi ttkl Qt soft t S L'S tI- 6*U Ltt'tt tOS'sU no-* 55595 wV*'9 "Ve tt 036 to$It cn'tO MU' ss'ao wsv b S's * ,tC *tt'l usn'n s'w 'i1 n lsW 3t 9*fl *:3 393 talOt ttgW Ott'Os al cs Wo1l65 '0 tN't no's M ,- 36 PS title ' gig ' s3Et'e 005'99 siftt e :1 t e' () 3 1 9u1,n t c at'Ct t"$It wn'93 s5'Wn 0n-9 t uS Otta et KS MIs sis'U st':: on," sot' W-ow sove"& le ' (515) 1055'?) 409':O ("s$It) (tOt'?) 4359'?) 01410': fatu's) (tS') 1010' (US) gets) ("a5) 4350'?) (OtS) (019) ""M) Sit cSn O+C' gt's t42S Lt' OUctt'S SO' OWS. son.o MI' Cn'S og's S' mt1nt M-t# Sic t' t -W' l 9U; tl es np- 45*06 05t', w,* "$lo in's ti ta'e tot's tW', tat's Mw'. OW's #eo Sfull mn't Stt Is 3. s T f i t t- tat su otts "S t itle ag'e s's set's so's 3(5'S It1'S tt'ec tle call tal' $sI'S sct'se M't SSWPwxs 4 _t le 35n-1 tO 615 tgS(et tOfnt'S@ tt o6S tS'cet e?'i 6'tt ett twtc 60t 566'* ltt' C1'? UC'i Ult So's UIW e c nPP 'tU VEt 1S's fl r W3 ut-'s," Wtt'tS iS'tog" mus situ tUs'= tes'5 cg "t cno'o tat eese t5905 met's nUv nntqn I C'm Wm 's* got'S w'w Cs' tS t't tK 41 5 tJC'S c 5 lt etc N nl 't tU It 99L'tt *%ol5' 1 sUS'5St5l6t ga's 913W *U -1 U'tt'U 0t'63U@ ss*se*amt ns U t'4s M,'i S'ti ct1n n ete ag 'n cec* Stt S to-as U6419 M-" U9t6t2 t'e Its 'm@F IPU 4 U wa Rc al tl e 01KN Wu-ec U U U bm''a t16'14 e''W 09t'41 tec 0 C1'f 0111'631 §¢'U'l Cltg''$ tCtY'C a eu 1 ' t ll tte +n zr *s c s" ^Zw "'t ~ ~ PSPO 3. pI'O 'a'.w * ~ 'Si IUO' *6nIt O S 'it Xt'S " "§stw "'lt_' ~~~~~~~~~~~~~~~~~~~~( le -g t 11 '28-101 ....~~~~~~PP _" .q Is .. lo,W_020 Aw a ts14 1. t~ CoMlmad tUc.al*q10 2s.92 b.|2.v1 .29.0t t.K9t tX.tt X .t..9t r . X.t X.t 44c.37.91 am.2.r JAs.3.a1 66s2u b 29.91rt Ig.49 IvJ.1A.S9M T6,M 00M.9 NAPjT9 8t,.M1 W0299 9sJ.51 Ohs* 48318 4,15?l 13$,00 .55? 441W 4.52 71. 5,6 15214 71.73 30,19415,03 *1197 92 ,l58 9451F, 58.9 1. feoiguM 24.052 8.2 22.644 55.972 36.952 29.431 3.91 3m.33 35,,4 3,439 38,2W 39s5 51.7 It. stit Amt 34.m 39. 01 40 41.50 42,10 41.9 4a. 47,992 55 54,561 7,5 4A3 a. b ttw,th ,50 124 12,93 13,50 14,022 t4,431 14,194 1.473 17.43 a 18,597 30 564w 24.a1B 1s. Credits to 02 seto 1. 9 s, 10 1050 10,517 15m 13,015 14.4Z7O 02 2 0 2n179 337.2 O4dits to "61re Secto Sow0 5.3 .6 ,1 ,4 .617 6.159 7.6M 4,1$,1do.3 .3 S,39 J.? 0ter (1.41) 1,) .1901) ,m1 1,47 46) (1.83) (1) I2)91) (13) (2M (237 (53) (5M.9 b. 1wttltia Aecmmt 3.170 2n,866 n7,m7 26,O1 2,73 76 2t19 27,01 28329.04 30 32,423 23.9 UAUILUTI 0.,1 0a85 a.55 ",129 ws52 71.53 15.214 6.m 7 80,194 55 e,v97 92.6 6.591 5.9 1. ttot mt tIaietlte 37.34 36,3 36,915 36,471 320 39,93 41.5U M,1 4,445 ,44 47.4 53W 371 4.0 *. Fw*tw, t1*bl4tt11 26.363 409 SA2W 2356 200 23068 V291W 29,14 , 3t386 3 . 39,20, 46.3 b. geetl 1iuhiIttlm 10.9M 0. 11.23 1050 1.790 11,50 11.88 low 12107 2.6 1,3 158 1434 32.4 uut" I*_ to Mixn 4 432 5,110 4.76 5.42 5.341 5.193 5,20 4.15 5090 5, 6.513 5.3 16.7 M lep. of S= _t St 2 no ,2 6,5 as 6 7 6 9 it. oesetraEtM NM" Sto 4 27 3 2 2 30,1 3 1t 2 4 a. I c Za 14 16 15,4 1 1 20,707 45.2 Resee k l t a le S.32 87 7,02 7,4 0 7,52 6,04 6 t,39t 9,02 9,736 1,145 0,899 1,3a 53.4 Al,, I19 ,5 6M25 40 C. Other Omlel Satr Nowy5 6 ,5 ,9 ,87 454 505 i53 ~ *s s.m6 9 a,a a ,4u.s 9*4 A.caete 31? 37 I66 51 W3I 0 41 62 53 90 .8 1 1.15 248. DepOStS of Itu,.3a. Secto 410 513 411 336 S6 SW M5 Sol 7 2? 36 9 (6.5) LI*41. is to GP MaN ItIeOs. (1764) (19) (482 1,o10 1,264 M Ws s,M 1n Som0 2.7 4,951 533 412. 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U- w ULidti4 1 43.411 44,0 sA 4 3,9 4S 5. m.sIs &1*4UtIin 91.53 40 111 5,4W 1746 5,4 .1 3,6 680 524 37,133 so"1 2965 954 0. _pstt g_s to on S#. 5.#a low 6.1 6.ox SIM 1 9.30 11,411 9,00 9,10 124 1.9 Su. d ofIN etw 9,15 9 t0,1f0 10.446 11w n.n 15," 14A9 13,374 n6,14A "Om 17,6 112 It* -ot _ f"t *0 , . ",s os j7t" " ,a^sf m,i a. t_.w Jem 3.107 3,61 3,45 3.41 26,117 ,5.5 53 9,446 30,2 311 1,6 34.36 3.3 49.2 t " _no _IAm"""t,s.ns,"1 t" E""|t2, IU ,ZlF " 6. Mm 4WA "J awr "# to voo MA2Z 1 2zmtZ _ _t of 00wit M r MSs W n so (To0 rS rn Lkbatrn Se ft 1, 8fl 4 15154 WIS" 1'S803 15 3,197 a 4. a o .i .. , W 1 . 41 3 15,A2 T1 6 ,1 ,1 1 9 6*Fe inf*1t1 Dl 26 .1 ,7 .3 33 .6 .6 .3 164 55 345 550 46 3 a. 66s mv46 WA 687? 12,6 12,91* 16,413 1,713 1068 19,993 #3,23 5115 3,46 87,146 7.21* 29931 51. 91.8 *uau~u 1,15 1.66 1,110 1.15 1.512 9,33? 1,120 2,113 3.196 961 3.25 3,643 1,796 43. 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