{"id":346,"date":"2018-11-03T16:08:58","date_gmt":"2018-11-03T14:08:58","guid":{"rendered":""},"modified":"2019-04-04T17:35:14","modified_gmt":"2019-04-04T15:35:14","slug":"3-d3","status":"publish","type":"post","link":"https:\/\/www.jassemajaka.com\/?p=346","title":{"rendered":"\u0627\u0644\u0644\u064a\u0631\u0629 \u0648\u0645\u064f\u0639\u062c\u0632\u0629 \u0627\u0644\u062b\u0628\u0627\u062a"},"content":{"rendered":"<p><span style=\"font-weight: bold;\">&#8220;\u0627\u0644\u0639\u0645\u0644\u0629 \u062a\u0639\u0643\u0633 \u062b\u0631\u0648\u0629 \u0627\u0644\u0628\u0644\u062f&#8221;\u060c \u0647\u0630\u0627 \u0645\u0627 \u062a\u0642\u0648\u0644\u0647 \u0627\u0644\u0646\u0638\u0631\u064a\u0629 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a\u0629. \u0639\u0644\u0649 \u0647\u0630\u0627 \u0627\u0644\u0623\u0633\u0627\u0633 \u062a\u0639\u0645\u062f \u0627\u0644\u062f\u0648\u0644 \u0625\u0644\u0649 \u0627\u0639\u062a\u0645\u0627\u062f \u0633\u0639\u0631 \u0635\u0631\u0641 \u0639\u0645\u0644\u0629 \u062d\u0631\u0651\u060c \u0639\u0627\u0645\u0644\u0629\u064b \u0648\u062c\u0627\u0647\u062f\u0629\u064b \u0623\u0646 \u064a\u0643\u0648\u0646 \u0627\u0642\u062a\u0635\u0627\u062f\u064f\u0647\u0627 \u0642\u0648\u064a\u0651\u0627\u064b \u0648\u0628\u0627\u0644\u062a\u0627\u0644\u064a \u064a\u0646\u0639\u0643\u0633 \u0641\u064a \u0639\u0645\u0644\u062a\u0647\u0627. \u0623\u0645\u0651\u0627 \u0641\u064a \u0644\u0628\u0646\u0627\u0646 \u0641\u0625\u0646\u0651 \u0636\u0639\u0641 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f \u0648\u062a\u0631\u062f\u0651\u064a \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u0639\u0627\u0645\u0651\u0629 \u0643\u0627\u062f\u0627 \u0623\u0646 \u064a\u0624\u062f\u0651\u064a\u0627 \u0625\u0644\u0649 \u0627\u0646\u0647\u064a\u0627\u0631 \u0627\u0644\u0644\u064a\u0631\u0629 \u0644\u0648 \u0644\u0645 \u064a\u0639\u0645\u062f \u062d\u0627\u0643\u0645 \u0645\u0635\u0631\u0641 \u0644\u0628\u0646\u0627\u0646 \u0631\u064a\u0627\u0636 \u0633\u0644\u0627\u0645\u0629 \u0625\u0644\u0649 \u0639\u0632\u0644 \u0627\u0644\u0644\u064a\u0631\u0629 \u0639\u0646 \u0627\u0644\u0645\u064f\u062a\u063a\u064a\u0651\u0631\u0627\u062a \u0627\u0644\u0633\u064a\u0627\u0633\u064a\u0629 \u0648\u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a\u0629 \u0648\u0627\u0644\u0645\u0627\u0644\u064a\u0629. \u0641\u0643\u064a\u0641 \u062a\u0645\u0651\u062a \u0645\u064f\u0639\u062c\u0632\u0629 \u0627\u0644\u062b\u0628\u0627\u062a\u061f<\/span>\u0625\u0631\u062a\u0641\u0639\u062a \u0646\u0633\u0628\u0629 \u0627\u0644\u062f\u064a\u0646 \u0627\u0644\u0639\u0627\u0645 \u0625\u0644\u0649 \u0627\u0644\u0646\u0627\u062a\u062c \u0627\u0644\u0645\u062d\u0644\u0651\u064a \u0627\u0644\u0625\u062c\u0645\u0627\u0644\u064a \u0645\u0646 45% \u0641\u064a \u0627\u0644\u0639\u0627\u0645 1993 \u0625\u0644\u0649 155% \u062d\u0627\u0644\u064a\u0627\u064b. \u0647\u0630\u0627 \u0627\u0644\u0631\u0642\u0645 \u0648\u062d\u062f\u0647 \u0643\u0641\u064a\u0644 \u0628\u0647\u0632\u0651 \u0623\u0643\u0628\u0631 \u0639\u0645\u0644\u0629 \u0646\u0638\u0631\u0627\u064b \u0625\u0644\u0649 \u0627\u0644\u062a\u062f\u0627\u0639\u064a\u0627\u062a \u0627\u0644\u0633\u0644\u0628\u064a\u0629 \u0644\u062a\u0631\u062f\u0651\u064a \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u0639\u0627\u0645\u0651\u0629 \u0639\u0644\u0649 \u0627\u0644\u0639\u0645\u0644\u0629 \u0648\u062a\u0631\u0627\u062c\u0639 \u0627\u0644\u062a\u0635\u0646\u064a\u0641 \u0627\u0644\u0625\u0626\u062a\u0645\u0627\u0646\u064a \u0648\u0645\u0627 \u0644\u0647 \u0645\u0646 \u062a\u062f\u0627\u0639\u064a\u0627\u062a \u0639\u0644\u0649 \u0645\u064a\u0632\u0627\u0646 \u0627\u0644\u0645\u062f\u0641\u0648\u0639\u0627\u062a.<\/p>\n<p>\u0644\u0643\u0646 \u0647\u0630\u0627 \u0644\u0645 \u064a\u062d\u0635\u0644 \u0644\u0644\u064a\u0631\u0629 \u0627\u0644\u0644\u0628\u0646\u0627\u0646\u064a\u0629 \u0627\u0644\u062a\u064a \u062a\u064f\u0638\u0647\u0631 \u0627\u0644\u0628\u064a\u0627\u0646\u0627\u062a \u0627\u0644\u062a\u0627\u0631\u064a\u062e\u064a\u0629 \u0623\u0646\u0647\u0627 \u0648\u0645\u0646\u0630 \u0627\u0644\u0639\u0627\u0645 1997 (\u062a\u0627\u0631\u064a\u062e \u062a\u062b\u0628\u064a\u062a\u0647\u0627) \u0628\u0642\u064a\u062a \u0635\u0627\u0645\u062f\u0629 \u0623\u0645\u0627\u0645 \u0627\u0644\u0623\u062d\u062f\u0627\u062b \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a\u0629 \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0648\u0627\u0644\u0633\u064a\u0627\u0633\u064a\u0629 \u0627\u0644\u062a\u064a \u0639\u0635\u0641\u062a \u0628\u0627\u0644\u0628\u0644\u0627\u062f. \u0647\u0630\u0627 \u0627\u0644\u0623\u0645\u0631 \u0647\u0648 \u0646\u062a\u0627\u062c \u0633\u064a\u0627\u0633\u0629 \u0627\u0644\u062b\u0628\u0627\u062a \u0627\u0644\u0646\u0642\u062f\u064a \u0627\u0644\u062a\u064a \u0627\u062a\u0651\u0628\u0639\u0647\u0627 \u0631\u064a\u0627\u0636 \u0633\u0644\u0627\u0645\u0629 \u0645\u0646\u0630 \u062a\u0628\u0648\u0651\u064f\u0626\u0647 \u0633\u062f\u0651\u0629 \u0627\u0644\u062d\u0627\u0643\u0645\u064a\u0629 \u0641\u064a \u0627\u0644\u0639\u0627\u0645 1993.<\/p>\n<p>\u0633\u064a\u0627\u0633\u0629 \u0627\u0644\u062b\u0628\u0627\u062a \u0627\u0644\u0646\u0642\u062f\u064a \u062a\u0639\u062a\u0645\u062f \u0639\u0644\u0649 \u062b\u0644\u0627\u062b\u0629 \u0623\u0633\u0633: \u062b\u0628\u0627\u062a \u0633\u0639\u0631 \u0635\u0631\u0641 \u0627\u0644\u0644\u064a\u0631\u0629\u060c \u062b\u0628\u0627\u062a \u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0641\u0627\u0626\u062f\u0629\u060c \u0648\u0642\u0637\u0627\u0639 \u0645\u0635\u0631\u0641\u064a \u0642\u0648\u064a.<\/p>\n<p><span style=\"font-weight: bold;\">\u062b\u0628\u0627\u062a \u0633\u0639\u0631 \u0635\u0631\u0641 \u0627\u0644\u0644\u064a\u0631\u0629<\/span><\/p>\n<p>\u0639\u0646\u062f \u0627\u0646\u062a\u0647\u0627\u0621 \u0627\u0644\u062d\u0631\u0628 \u0627\u0644\u0623\u0647\u0644\u064a\u0629 \u0643\u0627\u0646 \u0627\u0644\u062f\u0648\u0644\u0627\u0631 \u0627\u0644\u0623\u0645\u064a\u0631\u0643\u064a \u064a\u0648\u0627\u0632\u064a 3000 \u0644\u064a\u0631\u0629 \u0644\u0628\u0646\u0627\u0646\u064a\u0629. \u0648\u0643\u0627\u0646\u062a \u0646\u0633\u0628\u0629 \u0627\u0644\u062a\u063a\u064a\u0651\u0631\u0627\u062a (Volatility of Log) \u062a\u0641\u0648\u0642 \u0627\u0644\u0640 300% \u0648\u0647\u0630\u0627 \u064a\u0639\u0646\u064a \u0625\u0646\u0639\u062f\u0627\u0645 \u0627\u0644\u062b\u0642\u0629 \u0628\u0627\u0644\u0644\u064a\u0631\u0629 \u0627\u0644\u0644\u0628\u0646\u0627\u0646\u064a\u0629. \u0644\u0630\u0627 \u0623\u0631\u0627\u062f \u0631\u064a\u0627\u0636 \u0633\u0644\u0627\u0645\u0629 \u0625\u0639\u0627\u062f\u0629 \u0627\u0644\u062b\u0642\u0629 \u0644\u0644\u064a\u0631\u0629 \u0627\u0644\u0644\u0628\u0646\u0627\u0646\u064a\u0629 \u0648\u062c\u0639\u0644\u0647\u0627 \u0645\u0644\u0627\u0630\u0627\u064b \u0648\u0639\u0645\u0644\u0629 \u0631\u0626\u064a\u0633\u0629 \u0641\u064a \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u0644\u0628\u0646\u0627\u0646\u064a \u0648\u0628\u0627\u0644\u062a\u0627\u0644\u064a \u0644\u062c\u0623 \u0625\u0644\u0649 \u0645\u0628\u062f\u0623 \u0625\u0642\u062a\u0635\u0627\u062f\u064a \u0623\u0644\u0627 \u0648\u0647\u0648 \u062e\u0644\u0642 \u0625\u062d\u062a\u064a\u0627\u0637 \u0645\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0623\u062c\u0646\u0628\u064a\u0629 \u0643\u0627\u0641\u064d \u0644\u062f\u0639\u0645 \u0627\u0644\u0644\u064a\u0631\u0629 \u0648\u0627\u0644\u062d\u0641\u0627\u0638 \u0639\u0644\u0649 \u0633\u0639\u0631 \u0635\u0631\u0641 \u062b\u0627\u0628\u062a.<\/p>\n<p>\u0627\u0644\u0625\u062d\u062a\u064a\u0627\u0637 \u0645\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0623\u062c\u0646\u0628\u064a\u0629 \u0644\u0647 \u0641\u0648\u0627\u0626\u062f \u0639\u062f\u0629: (1) \u062f\u0639\u0645 \u0633\u0639\u0631 \u0635\u0631\u0641 \u0627\u0644\u0639\u0645\u0644\u0629 \u0627\u0644\u0648\u0637\u0646\u064a\u0629 \u0648\u0627\u0644\u062d\u0641\u0627\u0638 \u0639\u0644\u0649 \u0627\u0633\u062a\u0642\u0631\u0627\u0631\u0627\u0647\u0627 \u0641\u064a \u062d\u0627\u0644 \u0633\u0639\u0631 \u0635\u0631\u0641 \u062b\u0627\u0628\u062a (\u062d\u0627\u0644 \u0627\u0644\u0635\u064a\u0646)\u060c \u0648\u0627\u0644\u062d\u0641\u0627\u0638 \u0639\u0644\u0649 \u0633\u0639\u0631 \u0635\u0631\u0641 \u0636\u0639\u064a\u0641 \u0645\u0642\u0627\u0628\u0644 \u0627\u0644\u062f\u0648\u0644\u0627\u0631 \u0627\u0644\u0623\u0645\u064a\u0631\u0643\u064a \u0641\u064a \u062d\u0627\u0644 \u0633\u0639\u0631 \u0635\u0631\u0641 \u062d\u0631\u0651 \u0644\u062f\u0639\u0645 \u0627\u0644\u0635\u0627\u062f\u0631\u0627\u062a (\u062d\u0627\u0644 \u0627\u0644\u064a\u0627\u0628\u0627\u0646)\u061b (2) \u0627\u0644\u062d\u0641\u0627\u0638 \u0639\u0644\u0649 \u0645\u0633\u062a\u0648\u0649 \u0639\u0627\u0644\u064d \u0645\u0646 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0641\u064a \u062d\u0627\u0644 \u0646\u0634\u0648\u0628 \u0623\u0632\u0645\u0629 \u0625\u0642\u062a\u0635\u0627\u062f\u064a\u0629 \u0623\u0648 \u0645\u0627\u0644\u064a\u0629 \u0623\u0648 \u062d\u062a\u0649 \u0623\u0645\u0646\u064a\u0629 \u0645\u0627 \u064a\u0633\u0645\u062d \u0628\u0627\u0644\u0631\u062f\u0651 \u0627\u0644\u0633\u0631\u064a\u0639 \u0639\u0644\u0649 \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0648\u062a\u0647\u062f\u0626\u062a\u0647\u0627 \u062e\u0635\u0648\u0635\u0627\u064b \u0623\u0646\u0647 \u0641\u064a \u0647\u0630\u0647 \u0627\u0644\u062d\u0627\u0644\u0627\u062a \u064a\u0639\u0645\u062f \u0627\u0644\u0645\u0648\u0627\u0637\u0646\u0648\u0646 \u0625\u0644\u0649 \u0633\u062d\u0628 \u0623\u0645\u0648\u0627\u0644\u0647\u0645 \u0623\u0648 \u062a\u062d\u0648\u064a\u0644\u0647\u0627 \u0625\u0644\u0649 \u0639\u0645\u0644\u0627\u062a \u0623\u062c\u0646\u0628\u064a\u0629 \u0644\u0644\u062d\u0641\u0627\u0638 \u0639\u0644\u0649 \u0642\u064a\u0645\u0629 \u0645\u0645\u062a\u0644\u0643\u0627\u062a\u0647\u0645 \u0627\u0644\u0645\u0627\u0644\u064a\u0629.<\/p>\n<p>\u0648\u0628\u0627\u0644\u062a\u0627\u0644\u064a \u0641\u0625\u0646\u0651 \u0627\u0644\u062d\u0641\u0627\u0638 \u0639\u0644\u0649 \u0645\u0633\u062a\u0648\u0649 \u0639\u0627\u0644\u064d \u0645\u0646 \u0627\u0644\u0625\u062d\u062a\u064a\u0627\u0637 \u064a\u0633\u0645\u062d\u0651 \u0628\u0644\u062c\u0645 \u0627\u0644\u062a\u0636\u062e\u0651\u0645 \u0648\u0627\u0644\u062d\u0641\u0627\u0638 \u0639\u0644\u0649 \u0642\u064a\u0645\u0629 \u0627\u0644\u0639\u0645\u0644\u0629 \u0645\u0627 \u064a\u064f\u0631\u064a\u062d \u0627\u0644\u0645\u064f\u0633\u062a\u062b\u0645\u0631\u064a\u0646 \u0648\u064a\u064f\u0639\u064a\u062f\u0647\u0645 \u0625\u0644\u0649 \u0627\u0644\u0623\u0633\u0648\u0627\u0642\u061b (3) \u0625\u0639\u0637\u0627\u0621 \u0627\u0644\u062b\u0642\u0629 \u0644\u0644\u0623\u0633\u0648\u0627\u0642 \u0648\u0627\u0644\u0645\u064f\u0633\u062a\u062b\u0645\u0631\u064a\u0646 \u0645\u0646 \u062e\u0644\u0627\u0644 \u062c\u0647\u0648\u0632\u064a\u0629 \u0643\u0627\u0645\u0644\u0629 \u0648\u0641\u064a \u0643\u0644 \u0627\u0644\u0623\u0648\u0642\u0627\u062a \u0648\u0627\u0644\u0638\u0631\u0648\u0641 \u0644\u0644\u062a\u062f\u062e\u0651\u0644 \u0648\u0628\u0627\u0644\u062a\u0627\u0644\u064a \u062d\u0645\u0627\u064a\u0629 \u0627\u0644\u0625\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a.<\/p>\n<p>\u0623\u0636\u0641 \u0625\u0644\u0649 \u0630\u0644\u0643 \u0623\u0646\u0651 \u0647\u0630\u0627 \u0627\u0644\u0625\u062d\u062a\u064a\u0627\u0637 \u0643\u0641\u064a\u0644 \u0628\u0645\u0646\u0639 \u0631\u0624\u0648\u0633 \u0627\u0644\u0623\u0645\u0648\u0627\u0644 \u0645\u0646 \u0627\u0644\u0647\u0631\u0648\u0628 \u0645\u0646 \u0627\u0644\u0628\u0644\u062f\u061b (4) \u062a\u0644\u0639\u0628 \u0627\u0644\u0625\u062d\u062a\u064a\u0627\u0637\u0627\u062a \u0645\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0623\u062c\u0646\u0628\u064a\u0629 \u062f\u0648\u0631\u0627\u064b \u0631\u0626\u064a\u0633\u0627\u064b \u0641\u064a \u062a\u062b\u0628\u064a\u062a \u0642\u062f\u0631\u0629 \u0627\u0644\u0628\u0644\u062f \u0639\u0644\u0649 \u0633\u062f\u0651 \u0625\u0633\u062a\u062d\u0642\u0627\u0642\u0627\u062a\u0647 \u0627\u0644\u062e\u0627\u0631\u062c\u064a\u0629 \u0628\u0645\u0627 \u0641\u064a\u0647\u0627 \u0633\u0646\u062f\u0627\u062a \u0627\u0644\u062e\u0632\u064a\u0646\u0629 \u0641\u064a \u062d\u0627\u0644 \u0643\u0627\u0646 \u0627\u0644\u0628\u0644\u062f \u0641\u064a \u0648\u0636\u0639\u064d \u0645\u0627\u0644\u064a\u0651\u064d \u0645\u064f\u0630\u0631\u064d.<\/p>\n<p>\u0643\u0645\u0627 \u062a\u0644\u0639\u0628 \u062f\u0648\u0631\u0627\u064b \u0641\u064a \u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0625\u0633\u062a\u064a\u0631\u0627\u062f \u0648\u0627\u0633\u062a\u064a\u0639\u0627\u0628 \u0623\u064a\u0651 \u062d\u0631\u0643\u0629 \u0647\u0631\u0648\u0628 \u0644\u0631\u0624\u0648\u0633 \u0627\u0644\u0623\u0645\u0648\u0627\u0644\u061b (5) \u0641\u064a \u0628\u0639\u0636 \u0627\u0644\u0628\u0644\u062f\u0627\u0646 \u064a\u062a\u0645\u0651 \u0625\u0633\u062a\u062e\u062f\u0627\u0645 \u0647\u0630\u0647 \u0627\u0644\u0625\u062d\u062a\u064a\u0627\u0637\u0627\u062a \u0644\u062f\u0639\u0645 \u0627\u0644\u0642\u0637\u0627\u0639\u0627\u062a \u0627\u0644\u0625\u0646\u062a\u0627\u062c\u064a\u0629 (\u062d\u0627\u0644 \u0644\u0628\u0646\u0627\u0646 \u0648\u0623\u0641\u0631\u064a\u0642\u064a\u0627 \u0648\u0627\u0644\u0635\u064a\u0646) \u0648\u0623\u062d\u064a\u0627\u0646\u0627\u064b \u0634\u0631\u0627\u0621 \u0645\u0635\u0627\u0631\u0641 \u062a\u0642\u0639\u0651 \u0641\u064a \u0645\u0634\u0643\u0644\u0627\u062a \u0645\u0627\u0644\u064a\u0629 (\u0627\u0644\u0648\u0644\u0627\u064a\u0627\u062a \u0627\u0644\u0645\u064f\u062a\u062d\u062f\u0629 \u0627\u0644\u0623\u0645\u064a\u0631\u0643\u064a\u0629)\u061b (6) \u062f\u0648\u0644 \u0639\u062f\u0629 \u062a\u0639\u0645\u062f \u0625\u0644\u0649 \u062f\u0639\u0645 \u0639\u0627\u0626\u062f\u0627\u062a \u0625\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a\u0647\u0627 \u0648\u0628\u0627\u0644\u062a\u0627\u0644\u064a \u0641\u0625\u0646\u0651 \u0627\u0644\u0625\u062d\u062a\u064a\u0627\u0637\u0627\u062a \u0645\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0623\u062c\u0646\u0628\u064a\u0629 \u0648\u0627\u0644\u0630\u0647\u0628 \u062a\u064f\u0634\u0643\u0651\u0644 \u062a\u0646\u0648\u064a\u0639\u0627\u064b \u0641\u064a \u0627\u0644\u0625\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a.<\/p>\n<p>\u0641\u064a \u0627\u0644\u0648\u0627\u0642\u0639 \u0625\u0633\u062a\u0637\u0627\u0639 \u0633\u0644\u0627\u0645\u0629 \u0631\u0641\u0639 \u0627\u0644\u0625\u062d\u062a\u064a\u0627\u0637 \u0645\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0623\u062c\u0646\u0628\u064a\u0629 \u0645\u0646 \u0628\u0636\u0639 \u0645\u0626\u0627\u062a \u0627\u0644\u0645\u0644\u0627\u064a\u064a\u0646 \u0645\u0646 \u0627\u0644\u062f\u0648\u0644\u0627\u0631\u0627\u062a \u0641\u064a \u0627\u0644\u0639\u0627\u0645 1993 \u0625\u0644\u0649 \u0623\u0643\u062b\u0631 \u0645\u0646 45 \u0645\u0644\u064a\u0627\u0631 \u062f\u0648\u0644\u0627\u0631 \u062d\u0627\u0644\u064a\u0627\u064b.<\/p>\n<p>\u0648\u0641\u064a \u062d\u064a\u0646 \u0644\u0645 \u064a\u0643\u0646 \u0627\u0644\u0645\u0635\u0631\u0641 \u0627\u0644\u0645\u0631\u0643\u0632\u064a \u0642\u0627\u062f\u0631\u0627\u064b \u0639\u0644\u0649 \u0627\u0644\u062a\u062f\u062e\u0644 \u0644\u0644\u062f\u0641\u0627\u0639 \u0639\u0646 \u0627\u0644\u0644\u064a\u0631\u0629 \u0641\u064a \u0623\u0648\u0627\u062e\u0631 \u062b\u0645\u0627\u0646\u064a\u0646\u0627\u062a \u0648\u0623\u0648\u0627\u0626\u0644 \u062a\u0633\u0639\u064a\u0646\u0627\u062a \u0627\u0644\u0642\u0631\u0646 \u0627\u0644\u0645\u0627\u0636\u064a\u060c \u0623\u0635\u0628\u062d \u0627\u0644\u0645\u0635\u0631\u0641 \u0627\u0644\u0645\u0631\u0643\u0632\u064a \u0627\u0644\u064a\u0648\u0645 \u064a\u064f\u0634\u0643\u0651\u0644 \u0639\u0627\u0645\u0644\u064e \u0631\u0639\u0628 \u0644\u0623\u064a\u0651\u0650 \u0645\u0636\u0627\u0631\u0628 \u0639\u0644\u0649 \u0627\u0644\u0644\u064a\u0631\u0629 \u0627\u0644\u0644\u0628\u0646\u0627\u0646\u064a\u0629 \u0645\u0647\u0645\u0627 \u0628\u0644\u063a \u062d\u062c\u0645\u0647. \u0648\u0628\u0627\u0644\u062a\u0627\u0644\u064a \u0623\u0635\u0628\u062d\u062a \u0627\u0644\u0646\u062a\u064a\u062c\u0629 \u0623\u0646\u0651 \u0642\u062f\u0631\u0629 \u0627\u0644\u0645\u0635\u0631\u0641 \u0627\u0644\u0645\u0631\u0643\u0632\u064a \u0639\u0644\u0649 \u062a\u0623\u0645\u064a\u0646 \u062f\u0648\u0644\u0627\u0631\u0627\u062a \u0648\u0630\u0647\u0628 \u062a\u0641\u0648\u0642 \u0627\u0644\u0640 69 \u0645\u0644\u064a\u0627\u0631 \u062f.\u0623 \u0623\u064a \u0645\u0627 \u064a\u0648\u0627\u0632\u064a 138% \u0645\u0646 \u0627\u0644\u0646\u0627\u062a\u062c \u0627\u0644\u0645\u062d\u0644\u0651\u064a \u0627\u0644\u0625\u062c\u0645\u0627\u0644\u064a \u0648\u0647\u064a \u0646\u0633\u0628\u0629 \u0644\u0627 \u064a\u0648\u062c\u062f \u0645\u062b\u064a\u0644 \u0644\u0647\u0627 \u0641\u064a \u0627\u0644\u062f\u0648\u0644 \u0627\u0644\u0645\u064f\u062a\u0637\u0648\u0651\u0631\u0629.<\/p>\n<p><span style=\"font-weight: bold;\">\u062b\u0628\u0627\u062a \u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0641\u0627\u0626\u062f\u0629<\/span><\/p>\n<p>\u0641\u064a \u0623\u0648\u0627\u062e\u0631 \u0627\u0644\u062a\u0633\u0639\u064a\u0646\u0627\u062a \u0628\u0644\u063a\u062a \u0627\u0644\u0641\u0627\u0626\u062f\u0629 \u0639\u0644\u0649 \u0628\u0639\u0636 \u0633\u0646\u062f\u0627\u062a \u0627\u0644\u062e\u0632\u064a\u0646\u0629 \u0623\u0631\u0642\u0627\u0645\u0627\u064b \u062e\u064a\u0627\u0644\u064a\u0629 \u0648\u0643\u0627\u0646\u062a \u0647\u0630\u0647 \u0627\u0644\u0641\u0627\u0626\u062f\u0629 \u062a\u062a\u0623\u0631\u062c\u062d \u0645\u064f\u062f\u062e\u0644\u0629 \u0639\u0627\u0645\u0644 \u063a\u0645\u0648\u0636 \u0644\u0644\u0634\u0631\u0643\u0627\u062a \u0648\u0627\u0644\u0645\u064f\u0633\u062a\u062b\u0645\u0631\u064a\u0646\u060c \u0625\u0644\u0651\u0627 \u0623\u0646\u0651 \u0645\u0627 \u0641\u0639\u0644\u0647 \u0633\u0644\u0627\u0645\u0629 \u0647\u0648 \u0627\u0644\u0639\u0645\u0644 \u0639\u0644\u0649 \u062a\u0623\u0645\u064a\u0646 \u062a\u0645\u0648\u064a\u0644 \u0645\u064f\u0633\u062a\u0645\u0631 \u0644\u0644\u0623\u0633\u0648\u0627\u0642 \u0625\u0646 \u062f\u0627\u062e\u0644\u064a\u0627\u064b \u0623\u0648 \u062e\u0627\u0631\u062c\u064a\u0627\u064b.<\/p>\n<p>\u0648\u0642\u062f \u0646\u062c\u062d \u0645\u0639 \u062b\u0628\u0627\u062a \u0627\u0644\u0644\u064a\u0631\u0629 \u0648\u062a\u0623\u0645\u064a\u0646 \u0645\u0635\u0627\u062f\u0631 \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0628\u062a\u062b\u0628\u064a\u062a \u0633\u0639\u0631 \u0627\u0644\u0641\u0627\u0626\u062f\u0629. \u0627\u0644\u0648\u0627\u062c\u0628 \u0630\u0643\u0631\u0647 \u0623\u0646\u0651 \u0627\u0644\u0645\u0635\u0631\u0641 \u0627\u0644\u0645\u0631\u0643\u0632\u064a \u0644\u0647 \u0627\u0644\u0642\u062f\u0631\u0629 \u0639\u0644\u0649 \u062a\u062b\u0628\u064a\u062a \u0633\u0639\u0631 \u0627\u0644\u0641\u0627\u0626\u062f\u0629 \u0639\u0644\u0649 \u0627\u0644\u0623\u0645\u062f \u0627\u0644\u0642\u0635\u064a\u0631 \u0648\u0644\u064a\u0633 \u0627\u0644\u0628\u0639\u064a\u062f\u060c \u0644\u0643\u0646 \u0633\u0644\u0627\u0645\u0629 \u0625\u0633\u062a\u0637\u0627\u0639 \u0645\u0646 \u062e\u0644\u0627\u0644 \u0627\u0644\u062b\u0642\u0629 \u0627\u0644\u062a\u064a \u0636\u062e\u0651\u0647\u0627 \u0641\u064a \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u062a\u0623\u062b\u064a\u0631 \u0639\u0644\u0649 \u0627\u0644\u0641\u0627\u0626\u062f\u0629 \u0639\u0644\u0649 \u0627\u0644\u0623\u0645\u062f \u0627\u0644\u0628\u0639\u064a\u062f \u0645\u0646 \u0646\u0627\u062d\u064a\u0629 \u0623\u0646\u0651 \u0627\u0644\u0625\u062d\u062a\u064a\u0627\u0637 \u0627\u0644\u0647\u0627\u0626\u0644 \u0644\u0639\u0628 \u062f\u0648\u0631\u0627\u064b \u0623\u0633\u0627\u0633\u0627\u064b \u0641\u064a \u0632\u064a\u0627\u062f\u0629 \u062b\u0642\u0629 \u0627\u0644\u0645\u064f\u0633\u062a\u062b\u0645\u0631\u064a\u0646 \u0648\u0627\u0644\u0645\u064f\u0645\u0648\u0651\u0644\u064a\u0646 \u0644\u0644\u0625\u0642\u062a\u0635\u0627\u062f \u0648\u0627\u0644\u062f\u0648\u0644\u0629 \u0627\u0644\u0644\u0628\u0646\u0627\u0646\u064a\u0629.<\/p>\n<p><span style=\"font-weight: bold;\">\u0642\u0637\u0627\u0639\u064c \u0645\u0635\u0631\u0641\u064a\u0651\u064c \u0642\u0648\u064a<\/span><\/p>\n<p>\u0623\u062e\u0630 \u0633\u0644\u0627\u0645\u0629 \u0639\u0644\u0649 \u0639\u0627\u062a\u0642\u0647 \u0645\u0647\u0645\u0651\u0629 \u0643\u0628\u064a\u0631\u0629 \u0648\u0647\u064a \u062a\u0646\u0638\u064a\u0645 \u0627\u0644\u0642\u0637\u0627\u0639 \u0627\u0644\u0645\u0635\u0631\u0641\u064a \u0627\u0644\u0644\u0628\u0646\u0627\u0646\u064a \u0627\u0644\u0630\u064a \u0627\u0633\u062a\u0644\u0645\u0647 \u0645\u064f\u0634\u0631\u0630\u0645\u0627\u064b \u0648\u0636\u0639\u064a\u0641\u0627\u064b \u0648\u0630\u0644\u0643 \u0645\u0646 \u062e\u0644\u0627\u0644 \u0645\u0626\u0627\u062a \u0627\u0644\u062a\u0639\u0627\u0645\u064a\u0645 \u0627\u0644\u062a\u064a \u0623\u0635\u062f\u0631\u0647\u0627 \u0648\u0643\u0627\u0646 \u0644\u0647\u0627 \u0627\u0644\u0641\u0636\u0644 \u0641\u064a \u062d\u0645\u0627\u064a\u0629 \u0623\u0645\u0648\u0627\u0644 \u0627\u0644\u0645\u064f\u0648\u062f\u0639\u064a\u0646\u060c \u0625\u0644\u0632\u0627\u0645 \u0627\u0644\u0645\u0635\u0627\u0631\u0641 \u0628\u062a\u0646\u0638\u064a\u0645 \u0645\u064f\u0639\u064a\u0651\u0646 \u0648\u0627\u062d\u062a\u0631\u0627\u0645 \u0627\u0644\u0645\u0639\u0627\u064a\u064a\u0631 \u0648\u0627\u0644\u0642\u0648\u0627\u0646\u064a\u0646 \u0627\u0644\u062f\u0648\u0644\u064a\u0629 \u0625\u0644\u0649 \u062f\u0631\u062c\u0629 \u0623\u0635\u0628\u062d \u0645\u0639\u0647\u0627 \u0644\u0628\u0646\u0627\u0646 \u0645\u0631\u0643\u0632\u0627\u064b \u0645\u0627\u0644\u064a\u0651\u0627\u064b \u0644\u0627 \u0628\u0644 \u0645\u0646 \u0623\u0647\u0645 \u0627\u0644\u0645\u0631\u0627\u0643\u0632 \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u0639\u0627\u0644\u0645\u064a\u0629.<\/p>\n<p>\u0648\u0642\u062f \u0623\u062b\u0628\u062a\u062a \u0627\u0644\u062a\u0635\u0646\u064a\u0641\u0627\u062a \u0623\u0646\u0651 \u0645\u0635\u0627\u0631\u0641 \u0644\u0628\u0646\u0627\u0646\u064a\u0629 \u0639\u062f\u0629 \u062a\u0623\u062a\u064a \u0641\u064a \u0645\u0631\u0627\u062a\u0628 \u0645\u064f\u062a\u0642\u062f\u0651\u0645\u0629 \u0641\u064a \u0644\u0627\u0626\u062d\u0629 \u0627\u0644\u0645\u0635\u0627\u0631\u0641 \u0627\u0644\u0639\u0627\u0644\u0645\u064a\u0629 \u0643\u0645\u0627 \u0623\u0646\u0651 \u0625\u0645\u062a\u062b\u0627\u0644 \u0647\u0630\u0627 \u0627\u0644\u0642\u0637\u0627\u0639 \u062c\u0639\u0644\u0647 \u064a\u062c\u0630\u0628 \u0631\u0624\u0648\u0633 \u0627\u0644\u0623\u0645\u0648\u0627\u0644 \u0645\u0646 \u0623\u0646\u062d\u0627\u0621 \u0627\u0644\u0639\u0627\u0644\u0645 \u0639\u0644\u0649 \u0627\u0644\u0631\u063a\u0645 \u0645\u0646 \u0643\u0644 \u0627\u0644\u062a\u0639\u0642\u064a\u062f\u0627\u062a \u0627\u0644\u0633\u064a\u0627\u0633\u064a\u0629 \u0648\u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a\u0629.<\/p>\n<p><span style=\"font-weight: bold;\">\u0627\u0644\u0644\u064a\u0631\u0629 \u0648\u0645\u064f\u0639\u062c\u0632\u0629 \u0627\u0644\u062b\u0628\u0627\u062a<\/span><\/p>\n<p>\u0627\u0644\u0646\u0638\u0631 \u0625\u0644\u0649 \u0633\u0639\u0631 \u0635\u0631\u0641 \u0627\u0644\u0644\u064a\u0631\u0629 \u064a\u0624\u062f\u0651\u064a \u0625\u0644\u0649 \u0627\u0633\u062a\u0646\u062a\u0627\u062c\u064d \u0623\u0643\u062b\u0631 \u0645\u0646 \u0635\u0627\u062f\u0645 \u0641\u064a \u0627\u0644\u0639\u0627\u0644\u0645 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a: \u0644\u0645 \u062a\u0633\u062a\u0637\u0639 \u0627\u0644\u0623\u062d\u062f\u0627\u062b \u0627\u0644\u0623\u0645\u0646\u064a\u0629 \u0648\u0627\u0644\u0633\u064a\u0627\u0633\u064a\u0629 \u0648\u0644\u0627 \u0627\u0644\u0648\u0636\u0639 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a \u0648\u0627\u0644\u0645\u0627\u0644\u064a \u0645\u0646 \u0627\u0644\u062a\u0623\u062b\u064a\u0631 \u0639\u0644\u0649 \u0633\u0639\u0631 \u0635\u0631\u0641 \u0627\u0644\u0644\u064a\u0631\u0629.<\/p>\n<p>\u0648\u0628\u0627\u0644\u062a\u0627\u0644\u064a \u0641\u0625\u0646\u0651 \u0642\u062f\u0631\u0629 \u0627\u0644\u0645\u0635\u0631\u0641 \u0627\u0644\u0645\u0631\u0643\u0632\u064a \u0639\u0644\u0649 \u0639\u0632\u0644 \u0627\u0644\u0644\u064a\u0631\u0629 \u0639\u0646 \u0627\u0644\u0639\u0648\u0627\u0645\u0644 \u0627\u0644\u062a\u064a \u062a\u0624\u062b\u0651\u0631 \u0639\u0644\u064a\u0647\u0627 \u0633\u0644\u0628\u0627\u064b \u0623\u0635\u0628\u062d \u0648\u0627\u0642\u0639\u0627\u064b\u060c \u0623\u064a \u0623\u0646\u0651 \u0627\u0644\u0645\u0635\u0631\u0641 \u0627\u0644\u0645\u0631\u0643\u0632\u064a \u0627\u0633\u062a\u0637\u0627\u0639 \u0641\u0635\u0644 \u0645\u064a\u0643\u0627\u0646\u064a\u0643\u064a\u0629 \u0627\u0644\u062a\u0623\u062b\u064a\u0631 \u0648\u0639\u0632\u0644 \u062a\u0623\u062b\u064a\u0631\u0647\u0627 \u0639\u0646 \u0627\u0644\u0644\u064a\u0631\u0629.<\/p>\n<p>\u0647\u0630\u0627 \u0627\u0644\u0623\u0645\u0631 \u0644\u064a\u0633 \u0628\u0633\u0647\u0644 \u0627\u0644\u062a\u0637\u0628\u064a\u0642 \u0648\u0642\u062f \u0627\u0633\u062a\u062d\u0635\u0644 \u0633\u0644\u0627\u0645\u0629 \u0628\u0633\u0628\u0628\u0647 \u0639\u0644\u0649 \u0644\u0642\u0628 \u0623\u0641\u0636\u0644 \u062d\u0627\u0643\u0645 \u0645\u0631\u0643\u0632\u064a \u0641\u064a \u0627\u0644\u0639\u0627\u0644\u0645 \u0645\u0631\u0627\u062a \u0639\u062f\u0629 \u0645\u0646 \u0642\u0628\u0644 \u0645\u0624\u0633\u0633\u0627\u062a \u062a\u0635\u0646\u064a\u0641 \u0625\u0636\u0627\u0641\u0629 \u0625\u0644\u0649 \u062a\u0643\u0631\u064a\u0645\u0647 \u0645\u0646 \u0642\u0628\u0644 \u062c\u064a \u0628\u064a \u0645\u0648\u0631\u063a\u0627\u0646 (\u0631\u0623\u0633\u0645\u0627\u0644 3 \u062a\u0631\u064a\u0644\u064a\u0648\u0646 \u062f.\u0623).<\/p>\n<p>\u0648\u0628\u0627\u0644\u0639\u0648\u062f\u0629 \u0625\u0644\u0649 \u0633\u0639\u0631 \u0635\u0631\u0641 \u0627\u0644\u0644\u064a\u0631\u0629 \u0627\u0644\u0644\u0628\u0646\u0627\u0646\u064a\u0629\u060c \u062a\u064f\u0634\u064a\u0631 \u0627\u0644\u0623\u0631\u0642\u0627\u0645\u064f \u0648\u0627\u0644\u062d\u0633\u0627\u0628\u0627\u062a \u0627\u0644\u062a\u064a \u0642\u0645\u0646\u0627 \u0628\u0647\u0627 \u0623\u0646\u0651 \u0627\u0644\u0644\u064a\u0631\u0629 \u062a\u062a\u0623\u0631\u062c\u062d \u062f\u0627\u062e\u0644 \u0627\u0644\u0647\u0627\u0645\u0634 \u0627\u0644\u0631\u0633\u0645\u064a \u0645\u0639 \u062a\u062e\u0637\u0651\u064a \u0647\u0630\u0627 \u0627\u0644\u0647\u0627\u0645\u0634 \u0641\u064a \u0628\u0639\u0636 \u0627\u0644\u0623\u062d\u064a\u0627\u0646 \u0645\u0627 \u0643\u0627\u0646 \u064a\u062f\u0641\u0639 \u0645\u0635\u0631\u0641 \u0644\u0628\u0646\u0627\u0646 \u0625\u0644\u0649 \u0627\u0644\u062a\u062f\u062e\u0651\u0644 \u0641\u064a \u0643\u0644 \u0645\u0631\u0651\u0629 \u0648\u0644\u062c\u0645 \u0627\u0644\u0633\u0648\u0642.<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.jassemajaka.com\/wp-content\/uploads\/2019\/01\/8c33b7_1e5dec890ceb43e39a806564f42ba791~mv2.png\" alt=\"\" width=\"590.4000244140625\" height=\"207.69208406012513\" \/>\u0623\u0645\u064b\u0627 \u0625\u062d\u0635\u0627\u0626\u064a\u0627\u064b\u060c \u0641\u062a\u064f\u0634\u064a\u0631 \u0627\u0644\u062d\u0633\u0627\u0628\u0627\u062a \u0627\u0644\u062a\u064a \u0642\u0645\u0651\u0646\u0627 \u0628\u0647\u0627 \u0623\u0646\u0651 \u062f\u064a\u0646\u0627\u0645\u064a\u0629 \u062a\u0637\u0648\u0651\u064f\u0631 \u0633\u0639\u0631 \u0635\u0631\u0641 \u0627\u0644\u0644\u064a\u0631\u0629 (Stochastic Process) \u0644\u0645 \u062a\u0633\u0645\u062d \u0628\u0627\u0631\u062a\u0641\u0627\u0639 \u0627\u0644\u0623\u0633\u0639\u0627\u0631. \u0641\u0645\u0648\u062c\u0627\u062a \u0627\u0644\u0645\u0639\u0644\u0648\u0645\u0627\u062a \u0627\u0644\u0645\u064f\u062a\u0636\u0627\u0631\u0628\u0629 (Information Choc) \u0648\u0627\u0644\u062a\u064a \u062a\u064f\u0634\u0643\u0651\u0644 \u0627\u0644\u0633\u0639\u0631\u060c \u0643\u0627\u0646\u062a \u062a\u0645\u064a\u0644 \u0625\u0644\u0649 \u0645\u0635\u0644\u062d\u0629 \u0645\u0635\u0631\u0641 \u0644\u0628\u0646\u0627\u0646 \u0643\u0645\u0627 \u0623\u0646\u0651 \u0627\u0644\u062a\u0648\u0642\u0651\u0639\u0627\u062a \u0644\u0646\u0633\u0628\u0629 \u062a\u063a\u064a\u0651\u0631\u0627\u062a \u0644\u0644\u064a\u0631\u0629 \u0627\u0644\u0644\u0628\u0646\u0627\u0646\u064a\u0629 (Volatility Term Structure using Garch (1,1)) \u0642\u0644\u0651\u062a \u0646\u0633\u0628\u0629\u064b \u0644\u0645\u0627 \u0643\u0627\u0646\u062a \u0639\u0644\u064a\u0647 \u0633\u0627\u0628\u0642\u0627\u064b \u0648\u062a\u062a\u0648\u0627\u062c\u062f \u0627\u0644\u064a\u0648\u0645 \u0641\u064a \u0646\u0637\u0627\u0642 \u0644\u0627 \u064a\u0632\u064a\u062f \u0639\u0646 3.3% \u0644\u062a\u0631\u062a\u0641\u0639 \u0625\u0644\u0649 \u0646\u0633\u0628\u0629 \u0623\u0642\u0644\u0651 \u0645\u0646 7% \u0644\u0627\u0633\u062a\u062d\u0642\u0627\u0642\u0627\u062a \u062b\u0644\u0627\u062b \u0633\u0646\u0648\u0627\u062a. \u0648\u0647\u0630\u0647 \u0627\u0644\u0646\u0633\u0628 \u0646\u062c\u062f\u0647\u0627 \u0641\u064a \u0645\u064f\u062c\u0645\u0644 \u0639\u0645\u0644\u0627\u062a \u0627\u0644\u062f\u0648\u0644 \u0627\u0644\u0645\u064f\u062a\u0637\u0648\u0651\u0631\u0629.<\/p>\n<p>\u0641\u064a \u0627\u0644\u062e\u062a\u0627\u0645 \u0644\u0627 \u064a\u0633\u0639\u0646\u0627 \u0627\u0644\u0642\u0648\u0644 \u0625\u0644\u0651\u0627 \u0623\u0646\u0651 \u0627\u0644\u0639\u0645\u0644\u0629 \u062a\u0639\u0643\u0633 \u062b\u0631\u0648\u0629 \u0627\u0644\u0628\u0644\u062f \u0648\u0628\u0627\u0644\u062a\u0627\u0644\u064a \u064a\u062a\u0648\u062c\u0651\u0628 \u0639\u0644\u0649 \u0627\u0644\u062d\u0643\u0648\u0645\u0629 \u0623\u0646 \u062a\u0639\u0645\u062f \u0625\u0644\u0649 \u062f\u0639\u0645 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f \u0648\u062a\u0646\u062d\u064a\u0641 \u0645\u0627\u0644\u064a\u0651\u062a\u0647\u0627 \u0627\u0644\u0639\u0627\u0645\u0651\u0629 \u0644\u0643\u064a \u0644\u0627 \u062a\u0630\u0647\u0628 \u0645\u064f\u0639\u062c\u0632\u0629\u064f \u0627\u0644\u062b\u0628\u0627\u062a \u0627\u0644\u0646\u0642\u062f\u064a \u0633\u062f\u0649 \u0645\u0645\u0627\u0631\u0633\u0627\u062a \u0645\u0627\u0644\u064a\u0629 \u063a\u064a\u0631 \u0645\u0633\u0624\u0648\u0644\u0629.<\/p>\n<p><span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.aljoumhouria.com\/news\/index\/442736\">\u0631\u0627\u0628\u0637 \u0627\u0644\u062c\u0645\u0647\u0648\u0631\u064a\u0629<\/a><\/span><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.jassemajaka.com\/wp-content\/uploads\/2019\/01\/8c33b7_9e9a1651e00947b883924f7450d49d2b~mv2_d_1556_2372_s_2.gif\" alt=\"\" width=\"590.4000244140625\" height=\"900.0185462147533\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;\u0627\u0644\u0639\u0645\u0644\u0629 \u062a\u0639\u0643\u0633 \u062b\u0631\u0648\u0629 \u0627\u0644\u0628\u0644\u062f&#8221;\u060c \u0647\u0630\u0627 \u0645\u0627 \u062a\u0642\u0648\u0644\u0647 \u0627\u0644\u0646\u0638\u0631\u064a\u0629 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a\u0629. \u0639\u0644\u0649 \u0647\u0630\u0627 \u0627\u0644\u0623\u0633\u0627\u0633 \u062a\u0639\u0645\u062f \u0627\u0644\u062f\u0648\u0644 \u0625\u0644\u0649 \u0627\u0639\u062a\u0645\u0627\u062f \u0633\u0639\u0631 \u0635\u0631\u0641 \u0639\u0645\u0644\u0629 \u062d\u0631\u0651\u060c \u0639\u0627\u0645\u0644\u0629\u064b \u0648\u062c\u0627\u0647\u062f\u0629\u064b \u0623\u0646 \u064a\u0643\u0648\u0646 \u0627\u0642\u062a\u0635\u0627\u062f\u064f\u0647\u0627 \u0642\u0648\u064a\u0651\u0627\u064b \u0648\u0628\u0627\u0644\u062a\u0627\u0644\u064a \u064a\u0646\u0639\u0643\u0633 \u0641\u064a \u0639\u0645\u0644\u062a\u0647\u0627. \u0623\u0645\u0651\u0627 \u0641\u064a \u0644\u0628\u0646\u0627\u0646 \u0641\u0625\u0646\u0651 \u0636\u0639\u0641 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f \u0648\u062a\u0631\u062f\u0651\u064a \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u0639\u0627\u0645\u0651\u0629 \u0643\u0627\u062f\u0627 \u0623\u0646 \u064a\u0624\u062f\u0651\u064a\u0627 \u0625\u0644\u0649 \u0627\u0646\u0647\u064a\u0627\u0631 \u0627\u0644\u0644\u064a\u0631\u0629 \u0644\u0648 \u0644\u0645 \u064a\u0639\u0645\u062f \u062d\u0627\u0643\u0645 \u0645\u0635\u0631\u0641 \u0644\u0628\u0646\u0627\u0646 \u0631\u064a\u0627\u0636 \u0633\u0644\u0627\u0645\u0629 \u0625\u0644\u0649 \u0639\u0632\u0644 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[101,109,110,102,100,157,156,106],"class_list":["post-346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-45","tag-101","tag-109","tag-7-d1","tag-publicfinance","tag-100","tag-157","tag-bdl","tag-newspaperarticles"],"jetpack_featured_media_url":"https:\/\/www.jassemajaka.com\/wp-content\/uploads\/2019\/01\/8c33b7_786e2015cbc84ec4aeeecbab573e1bb6~mv2.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paTyQg-5A","_links":{"self":[{"href":"https:\/\/www.jassemajaka.com\/index.php?rest_route=\/wp\/v2\/posts\/346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jassemajaka.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jassemajaka.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jassemajaka.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jassemajaka.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=346"}],"version-history":[{"count":3,"href":"https:\/\/www.jassemajaka.com\/index.php?rest_route=\/wp\/v2\/posts\/346\/revisions"}],"predecessor-version":[{"id":8163,"href":"https:\/\/www.jassemajaka.com\/index.php?rest_route=\/wp\/v2\/posts\/346\/revisions\/8163"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.jassemajaka.com\/index.php?rest_route=\/wp\/v2\/media\/347"}],"wp:attachment":[{"href":"https:\/\/www.jassemajaka.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jassemajaka.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jassemajaka.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}