0XQLFtSLRGH/DJRDGR2XUR
,PSULPLUD0DWpULD

(67$'2'(3(51$0%8&2
081,&3,2'(/$*2$'22852

*$%,1(7('235()(,72
3257$5,$'(&2192&$d2'2&21&856238%/,&2

3257$5,$1

(0(17$ 'LVS}H VREUH D &RQYRFDomR GRV
FDQGLGDWRV DSURYDGRV QR FRQFXUVR S~EOLFR 0XQLFLSDO
GH/DJRDGR2XURUHDOL]DGRHPGHPDLRGHH
GiRXWUDVSURYLGrQFLDV

2 081,&,3,2 '( /$*2$ '2 2852 (67$'2 '(
3(51$0%892 QR XVR GH VXDV DWULEXLo}HV OHJDLV DWUDYpV GD 6UD
6HFUHWDULD0XQLFLSDOGH$GPLQLVWUDomR

&216,'(5$1'2 R UHVXOWDGR GR &RQFXUVR 3~EOLFR 0XQLFLSDO GH
SURYDV  UHDOL]DGR QR GLD  GH PDLR GH  KRPRORJDGR
DWUDYpVGD3RUWDULDGHGHGH]HPEURGH

5(62/9(

$UW   $UW   &2192&$5 SDUD HIHLWR GH QRPHDomR D SDUWLU
GHVWD GDWD RV FDQGLGDWRV FODVVLILFDGRV DEDL[R UHODFLRQDGRV D
FRPSDUHFHUHP LPSUHWHULYHOPHQWH DWp R GLD  GH MDQHLUR GH  GDV
jVQD5XDGR3URJUHVVRQ6DODFHQWUR/DJRDGR
2XUR3(SDUDUHDOL]DURDJHQGDPHQWRGDGDWDGHDSUHVHQWDomRGRV
H[DPHVH[LJLGRVD-817$0e',&$(63(&,$/GR0XQLFtSLR

,  2V FDQGLGDWRV DEDL[R UHODFLRQDGRV GHYHUmR FRPSDUHFHU QR GLD
DJHQGDGRQD-817$0e',&$(63(&,$/GR0XQLFtSLRQRSUpGLR
GD 6HFUHWDULD GH 6D~GH VLWR j 3UDoD GD &RQFHLomR Q  PXQLGR GRV
([DPHV +HPRJUDPD &ODVVLILFDomR VDQJXtQHD $%2 H JUXSR GH IDWRU
5+ *OLFHPLD MHMXP &ROHVWHURO WRWDO /'/ FROHVWHURO H +'/
FROHVWHURO7ULJOLFHUtGHRV7*27*3*DPD*78UHLD&UHDWLQLQD3VD
WRWDO H OLYUH SDUD KRPHQV FRP LGDGH DFLPD GH  DQRV %HWD +&* 
0XOKHU 5DGLRJUDILD VLPSOHV GR WyUD[ 3$ H SHUILO HVTXHUGR
(OHWURFDUGLRJUDPD SDUD FDQGLGDWRV FRP LGDGH DFLPD GH  DQRV
0DPRJUDILDELODWHUDOSDUDPXOKHUHVFRPLGDGHDFLPDGHDQRV

,,  2V H[DPHV H[LJLGRV SDUD DSUHFLDomR GD -817$ 0e',&$
(63(&,$/ GR 0XQLFtSLR DSHQDV VHUmR DFHLWRV VH WLYHUHP VLGR
UHDOL]DGRV HP XP SHUtRGR Pi[LPR GH  GLDV DQWHULRUHV D GDWD GH
DSUHVHQWDomR H[FHWR SDUD R H[DPH %HWD +&*  0XOKHU TXH WHUi
YDOLGDGHGHGLDV

,,,  2V &DQGLGDWRV 'HFODUDGRV 3HVVRD FRP 'HILFLrQFLD GHYHUDP
DSUHVHQWDU ODXGR PpGLFR HVSHFLDOL]DGR GH DFRUGR FRP D GHILFLrQFLD
GHFODUDGDPRGHORFRQVWDQWHGR(GLWDOQFRQIRUPHSUHYrR
DUW  LQF ,9 GR 'HFUHWR Q  GH  GH GH]HPEUR GH 
DWHVWDQGR D HVSpFLH H R JUDX RX QtYHO GD GHILFLrQFLD FRP H[SUHVVD
UHIHUrQFLD DR FyGLJR FRUUHVSRQGHQWH GD &ODVVLILFDomR ,QWHUQDFLRQDO GH
'RHQoD&,'EHPFRPRDSURYiYHOFDXVDGDGHILFLrQFLD

,92VFDQGLGDWRVDEDL[RUHODFLRQDGRVGHYHUmRFRPSDUHFHUDSDUWLU
GRGHMDQHLURGHGDVjVQD5XDGR3URJUHVVRQ
VDODFHQWUR/DJRDGR2XUR3(SRUWDQGRFySLDVHRULJLQDLV
GRVVHJXLQWHVGRFXPHQWRV5*&3)7tWXORGH(OHLWRUHFRPSURYDomR
GR FXPSULPHQWR GDV REULJDo}HV HOHLWRUDLV &HUWLGmR GH 1DVFLPHQWR RX
GH &DVDPHQWR &DUWHLUD GH 7UDEDOKR H 3UHYLGrQFLD 6RFLDO  &736
&RPSURYDomR GH 5HJLVWUR H[SHGLGR SHOR 0LQLVWpULR GR 7UDEDOKR
TXDQGR H[LJLGR QHVWH (GLWDO 5HJLVWUR &LYLO GRV )LOKRV VH KRXYHU
5HVHUYLVWDSDUDKRPHQV&RPSURYDQWHGDHVFRODULGDGHPtQLPDH[LJLGD
QR (GLWDO &RPSURYDQWH GH 5HVLGrQFLD DWXDOL]DGR 'RFXPHQWR GH
,QVFULomRGR3,63$6(3IRWRVFRORULGDV[UHFHQWHVGHIUHQWHH
LJXDLV $WHVWDGR RX &HUWLGmR 1HJDWLYD GH $QWHFHGHQWHV &ULPLQDLV
HVWDGXDOHQDFLRQDO'HFODUDomRGHEHQVHYDORUHVQRVWHUPRVGD/HL
Q  'HFODUDomR GH DFXPXODomR GH FDUJR RX IXQomR S~EOLFD
TXDQGRIRURFDVRRXVXDQHJDWLYD'HFODUDomRGHTXHHVWiFLHQWHGDV
DWULEXLo}HV GR &DUJR  (VSHFLDOLGDGH SDUD R TXDO IRL QRPHDGR H VHUi
HPSRVVDGRHVHFRPSURPHWHDH[HUFrODV

9  $ UHDOL]DomR GRV H[DPHV H[LJLGRV SDUD DSUHFLDomR GD -817$
0e',&$ (63(&,$/ GR 0XQLFtSLR H D DSUHVHQWDomR GH WRGRV RV
GRFXPHQWRVH[LJLGRVSDUDDSRVVHGHYHPVHGDUGHQWURGRSUD]ROLPLWH
9,2VFDQGLGDWRGHYHUDPWRPDUSRVVHQRSUD]RPi[LPRGHWULQWD
GLDVDSDUWLUGDGDWDGHSXEOLFDomRGHVWDSRUWDULD

&$5*2$8;,/,$5'(6(59,d26*(5$,6('8&$&,21$,6
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



-26e&,&(52'$6,/9$

&/$66


&$5*2027248(,52
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



52%(5726,02'$6,/9$

&/$66


&$5*202725,67$,&$7(*25,$'
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



/($1'5252&+$6,/9$'(025$(6

&/$66




'$1,(/025$(6'$6,/9$

&$5*2$66,67(17($'0,1,675$7,92
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



$/,.$(//,3$8/,12'$325&,81&8/$

KWWSZZZGLDULRPXQLFLSDOFRPEUDPXSHPDWHULD((

&/$66






0XQLFtSLRGH/DJRDGR2XUR


%('621'+<2*2'(9$/(1d$

&$5*2$66,67(17(62&,$/
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



1(//<.$5,1$$5$-2'(6/(,72

&/$66


&$5*2%,20e',&2
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



-e66,&$9$6&21&(/26'(/$&(5'$

&/$66


&$5*2('8&$'25)6,&2
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



6,'1(</,0$)(55(,5$

&/$66


&$5*2(1)(50(,52
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



7+$<16$0,//$'266$1726

&/$66




5$48(/'266$17269,(,5$6,48(,5$



/($1'529,/$5'$6,/9$



3$8/2&$%5$/6,/9$-1,25



.$5/$&5,67,$1(9$/e5,26,/9$



0$*'$&5,67,$1('(6286$/$&(5'$0217(,52



$0$1'$628=$/23(6%$5526



,=$%(//<0,51$'$6,/9$3$,;$2

&$5*2)$50$&87,&2
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



-$'<$1<9$6&21&(/263$6626

&/$66


&$5*2),6,27(5$3(87$
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



6,17+,$*8,0$5(63$8)(552025$(6

&/$66




7+$<6()(51$1'$%5$*$/8&(1$

&$5*2)212$8',2/2*2
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



0$5,$'262&25520217(,520$548(6

&/$66


&$5*20e',&23/$1721,67$
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(

&/$66



5$48(/6$17$1$'()5(,7$6



('/$&$9$/&$17,$025,0



,6$%(/&5,67,1$$5$8-20(/2

&$5*21875,&,21,67$
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



-26e&$,48(9,&725&267$

&/$66


&$5*22'217/2*2
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&

120(



3$75,&,$/,16$=(9('2'21$6&,0(172

&/$66




$1$5$48(/52&+$&255(,$



.$5,1$6,021(&267$'(0(/26,/9$



3('523$8/20285$'()5(,7$6

&$5*236,&/2*29$*$63$5$3&'
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&


120(
,$5$'()5$1d$6$1726

&/$66


&$5*29(7(5,15,2
$RUGHPGHFODVVLILFDomRREHGHFHDRVFULWpULRVGHGHVHPSDWHGHVFULWRVQRLWHPGR(GLWDO
,16&


120(
7+,$*2-$66e'($1'5$'(

&/$66



$UW$SUHVHQWHSRUWDULDHQWUDHPYLJRUQDGDWDGHVXDSXEOLFDomR
$UW5HYRJDPVHDVGLVSRVLo}HVHPFRQWUDULR

5HJLVWUHVHH
3XEOLTXHVH

*DELQHWHGR3UHIHLWRHPGHMDQHLURGH

0$5,$68(/<$/9(6%(7(
6HFUHWiULDGH$GPLQLVWUDomR
3XEOLFDGRSRU

6LOYLDGH2OLYHLUD7RUUHV0DFKDGR
&yGLJR,GHQWLILFDGRU((
0DWpULDSXEOLFDGDQR'LiULR2ILFLDOGRV0XQLFtSLRVGR(VWDGR
GH3HUQDPEXFRQRGLD(GLomR
$YHULILFDomRGHDXWHQWLFLGDGHGDPDWpULDSRGHVHUIHLWD
LQIRUPDQGRRFyGLJRLGHQWLILFDGRUQRVLWH
KWWSZZZGLDULRPXQLFLSDOFRPEUDPXSH

KWWSZZZGLDULRPXQLFLSDOFRPEUDPXSHPDWHULD((