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4. 1.. 1) ) F Y198956.1 FY1999 265.610 16.6%. F Y1995IMF FY 1999 9.9%. FY1999 FY 1998 IMF F Y1998. FY1999, IMF 11.8%.

5 < - 1> 1989 1992 1995 1997 1999 560,712 ( 5.9) 858,632 (50.1) 294,874 (31.5) 1,267,047 (28.5) 1,979,762 (22.8) 879,306 (48.0) 2,509,232 (26.9) 4,289,728 (31.3) 1,497,746 (29.6) 2,811,021 (10.8) 5,663,820 (12.0) 2,214,744 (21.8) ( :, % ) 2,656,194 (-9.9) 7,019,327 (13.7) 1,785,770 (-29.0) : 1. ( ). : 2. FY1999. : 3. FY1995( 97. 4. 1 ). :,,., 1999, 2000, 6. 16.6 23.4 19.8 ) FY198985.9 FY1999 701.910 23.4%. F Y1997 IMF (FY 1989FY 1996 28.8% ). FY 1999701.913.7%.. ) FY 198929.5 FY1999 178.510 19.7%.

6, IMF F Y1998FY 1999,., F Y199925.5% 149.4, 44.3% 29.1.. 2) ) (1) 10 14.7%, 13.3%, 27.5%. F Y198911.9FY 1999 46.8, FY 1989 11.2 FY 1999 38.9, F Y1989 6,895 FY 1999 78,358. F Y1997. IMF FY 1998 38 F Y1999 0.8%.

F Y1999., IMF, F Y1998. < - 2> 1989 1992 1995 1997 1999 111,760 (94.2) 6,895 (5.8) 118,656 (26.5) 185,288 (81.8) 41,125 (18.2) 226,414 (16.8) 258,066 (73.1) 94,815 (26.9) 352,881 (27.2) 371,270 (75.8) 118,289 (24.2) 489,559 (28.3) ( :, % ) 389,198 (83.2) 78,358 (16.8) 467,554 (0.8) 13.3 27.5 14.7 : 1. 1987 (). 2. ( ), ( ). :,,. :,, 19995. < - 1>

8 (2) 10 F Y1989 1,534 FY 1999 10461 51.9%. 20.4%, 11.0%, 6.5%., IMF 19977 3 F Y1999 21.5% 19946 FY 199462.4%., F Y199920.9%. 10, 199610 1997 FY 1997. F Y1992 FY 1992 F Y1993 F Y1998.

< - 3> ( :, % ) 1989 1992 1995 1997 1999 51,886 (43.7) 1,534 (1.3) 41,550 (35.0) 94,970 (80.0) 23,686 (20.0) 118,656 (26.5) 121,114 (53.5) 8,214 (3.6) 54,857 (24.2) 184,185 (81.3) 42,229 (18.7) 226.414 (16.8) 193,310 (54.8) 32,426 (9.2) 49,200 (13.9) 274,937 (77.9) 77,944 (22.1) 352,881 (27.2) : ( ). :,,. :,, 19995. 145,264 (29.7) 66,733 (13.6) 120,651 (24.6) 332,648 (67.9) 156,911 (32.1) 489,559 (28.3) 97,808 (20.9) 100,461 (21.5) 117,813 (25.2) 316,082 (67.6) 151,473 (32.4) 467,554 (0.8) < - 2>

10 (3). 1990, IMF. F Y1999 24.0%, 5. < - 4> ( :, % ) 1989 1992 1995 1997 1999 115,090 (97.0) 3,566 (3.0) 211,800 (93.5) 14,614 (6.5) 307,044 (87.0) 45,837 (13.0) 412,859 (84.3) 76,700 (15.7) 355,424 (76.0) 112,130 (24.0) 118,656 226,414 352,881 489,559 467,554 : ( ). :,,. :,, 19995. ) 1990 IMF 1998 FY 199767.8%. F Y1998F Y1999 IMF 15.7% 384,899.

11 < - 5> 1989 1992 1995 1997 1999 71,502 (25.1) 710 (1299.0) 72,212 (26.2) 155,371 (30.9) 20,510 (111.7) 175,881 (37.0) 168,625 (5.2) 55,417 (41.7) 224,042 (12.3) 300,633 (64.3) 111,127 (77.9) 411,760 (67.8) : ( ). :,,. :,,. 308,290 (-13.2) 74,759 (-26.3) 384,899 (-15.7) ( :, % ) 15.7 59.3 18.2 < - 3> ) 1015.9%

12, 14.2% F Y1989 (12 ) 44.6%. FY 1999 106,073 4.9%p 5.6%. ( ) 1.7%,. < - 6> 1989 1992 1995 1997 1999 23,801 (10.4) 413 (438.6) 24,215 (11.9) 41,949 (16.2) 5,255 (48.3) 47,204 (19.1) 54,784 (15.7) 10,518 (25.2) 65,301 (17.1) 74,983 (19.5) 15,976 (21.9) 90,959 (19.9) : ( ). :,,.,,. ( :, % ) 89,555 (1.7) 16,518 (33.1) 106,073 (5.6) 14.2 44.6 15.9 ) 10 IMF (- ). F Y1999-2.9%F Y1997-1.0%

13. < - 7> ( :, % ) 1989 1992 1995 1997 1999 (A) 13,572 24,944 46,834 60,277 62,228 (B) 13,528 24,048 45,155 53,670 50,864 (B-A) -44-896 -1,679-6,607-11,364 0.0-0.5-0.7-1.8-2.9 (C) 377 5,916 14,834 16,321 12,646 (D) 554 6,643 19,036 18,083 11,847 (D-C) 177 727 4,202 1,762-799 2.6 1.8 4.4 1.5-1.0 (E) 13,949 30,860 61,668 76,598 74,874 (F) 14,082 30,691 64,190 71,753 62,711 (F-E) 133-169 2,522-4,845-12,163 0.1-0.1 0.7-1.0-2.6 : 1) /. 2). :,,. :,,. ),, 3. FY 1989 F Y1995 84.3% FY 1999 79.4%,.

14.,.,. < - 8> ( : ) 1989 1992 1995 1997 1999 118,749 226,834 353,856 491,424 419,426 24,215 47,204 65,301 90,959 106,073 29 391 431 16,941 2,625 142,993 274,429 419,588 599,324 528,124 140.306 269,124 417,454 581,557 478,296 1,830 3,372 7,236 19,731 45,874 272 701 3,395 6,234 121.117 142,408 273,197 428,085 607,522 536,287-21,557-42,290-63,598-90,133-58,870 22,385 43,832 58,065 71,228 60,199-243 -310-2,964 10,707-9,492 585 1,232-8,497-8,198-8,163 119 355 6 256 1,646 466 876-8,503-8,454-9,809 :,,., 1999, 2000, 6.,, FY 1989 F Y1994. IMF

15 FY 19984. ( ).. < - 7> IMF 1997 ((+)).,.,. 3) ) FY1989 7,657 F Y1995 1.914,819 FY 1999 7,789 FY 1995. 1990, IMF F Y1998 24%. FY 1999 7537,789, IMF.

16., F Y19994,764 241,429, 1.6%. < - 9> ( :,, % ) 1989 1992 1995 1997 1999 6,742 7,258 7,878 7,352 6,304 (9.1) (1.8) (5.5) (-2.5) (-3.1) 915 3,330 6,941 4,027 1,485 (185.9) (41.7) (37.2) (-33.1) (-31.3) 7,657 10,588 14,819 11,379 7,789 (17.8) (11.7) (18.3) (-16.1) (-10.1) 181,848 190.346 224,328 218,356 200,686 (6.1) (-0.1) (6.4) (-1.2) (1.6) 28,436 101,382 124,878 75,042 40,743 (573.0) (29.0) (-2.5) (-27.2) (-16.2) 210,284 291,728 349,206 293,398 241,429 (19.8) (8.4) (3.1) (-9.4) (-1.9) : ( ). :,,. :,, 19995. < - 4>

17 ) 10FY1989155 FY1999 3.8603. FY 1999 6174, 528, 12.1%. 194, 192 2.8%. FY1998 FY1999.,. < - 10> ( :, % )

18 1989 1992 1995 1997 1999 1,658 2,552 3,276 5,050 6,174 (10.6) (9.8) (19.3) (33.3) (6.0) 754 1,236 1,366 2,937 5,277 (107.7) (3.8) (-5.3) (84.0) (34.3) 1,550 2,138 2,381 4,302 6,003 (7.4) (4.6) (7.5) (52.9) (12.1) 61 97 115 170 194 (13.7) (11.9) (18.5) (31.6) (1.1) 25 41 76 158 192 (-11.7) (13.9) (33.3) (68.9) (10.1) 56 78 101 167 194 (5.6) (7.8) (23.4) (41.6) (2.8) : ( ). :,,. :,, 19995. 4) ) 10 FY 198922.6 F Y1999 4.9110.3 17.2% 32.8%(15.9% ). FY 1999 100 19.5%110.2.. 5. < - 11> ( :, % )

19 1989 1992 1995 1997 1999 217,730 (28.7) 8,705 (470.7) 226,435 (32.7) 388,357 (13.0) 63,193 (42.0) 451,551 (16.3) 564,510 (19.8) 132,257 (25.5) 696,767 (20.8) 753,240 (11.4) 155,969 (-0.6) 909,209 (9.2) : ( ). :,,., 1999, 2000, 6. 954,635 (22.9) 148,318 (1.5) 1,102,953 (19.5) 15.9 32.8 17.2 < - 5> ) 10 IMF. F Y1997 IMF

20. FY 1999 40.8%,. F Y1998 5.8%p, 6.4%p. 7%p., FY 1999 4.3%, FY 1998 F Y1999 FY 1998. < - 12> ( : % ) 1989 1992 1995 1997 1999 9.9 13.4 13.8 14.9 4.7 - - - - 26.1 18.0 8.0 - - 25.8 10.8 13.8-1.1 27.6 13.6 12.8-0.9 25.8 10.1 10.9 4.1 0.6 40.8 8.1 15.3 13.8 3.5 52.8 47.2 45.3 45.9 32.0 7.5 7.3 7.3 8.1 8.7 96.3 93.7 94.0 94.8 86.3 3.7 6.3 6.0 5.2 9.5 0.0 0.0 0.0 0.0 4.3 100.0 100.0 100.0 100.0 100.0 :,,. :,, 19995.

21 3) ) 10 FY198960.9% FY1999 82.3% 10 21.4%p., F Y1997. FY1999 FY1997., FY1999 (29.9%p )89.4% FY1997. < - 13> ( : % ) 1989 1992 1995 1997 1999 60.9 77.7 63.5 84.1 82.3 27.0 32.5 25.9 28.1 20.5 11.8 13.6 17.5 15.6 16.0 11.9 13.5 18.2 14.7 13.4 0.1-0.1 0.7-0.9-2.6 96.3 93.7 94.0 94.8 86.3 13.0 11.9 10.8 11.0 11.1 : 1. = /. 2. = (+ ). : 3..

22 4. = -. :,,.,,.,,., 1999/ 20006. ) FY 1989 26.0% F Y1999 20.5%. F Y1992 30.5%F Y1998 29.4% F Y1999 20.5%., F Y1998.,,. ). 1990., FY 1994 F Y1996 3 18.2% FY 1997., FY 1999 13.4%F Y1992 7. (F Y1992) F Y1997 (+) F Y1998

23, F Y1999-2.6%. ) 10 11.3%. IMF F Y1998. F Y1999 11.2% 0.4%p 1.1%p 11.1%, 3.6%p 12.2%.. 1) ) 10, 18.5%, 199581, 19946. 199712IMF,,

24. < - 6> IMF,, F Y1998 IMF,. FY 1999 144,5241.4% () 38.8%, 45.9%84.7%. (1) 10FY 1997 IMF F Y1998. FY 1989,

25, FY 199130%, IMF. IMF IMF 1997, IMF. FY 1999 144,524 1.4%. < - 14> 1989 1992 1995 1997 1999 ( :, % ) 24,416 54,025 102,229 150,224 138,759 19.0 (38.9) (23.0) (33.4) (17.2) (1.7) 1,966 3,777 7,009 12,951 5,752 (40.3) (11.5) (7.9) (99.1) (-6.1) 11.3 6 5 6 8 13 (27.3) (-1.4) (10.4) (20.9) (-3.1) 8.3 26,388 57,807 109,244 163,183 144,524 (39.0) (22.2) (31.4) (21.2) (1.4) 18.5 : ( ). :,,.,,. (2)

26 F Y1989 F Y1993 200, 1990 FY 1997 IMF. (, ). F Y1990 F Y1994 FY 1999., 1997, (cross- border ). IMF F Y1989F Y1995, 19958, FY 1994FY 1996 199712 IMF

27 FY 1998 14.5% F Y1999. 11.3% 1997. F Y1997 IMF,,,,. 1997. 1990 FY 1994FY 1996 FY 1998FY 1999. 10 1995 31.7%,

28,. FY 19984.1%, 1999. < - 15> ( :, % )

29 1989 1992 1995 1997 1999 1,897 2,918 3,782 3,216 2,646 3.4 (7.2) (5.0) (3.5) (2.0) (1.8) 2,271 3,191 4,532 3,986 4,571 7.2 (8.6) (5.5) (4.1) (2.4) (3.2) 14,811 27,460 50,103 61,765 55,368 14.1 (56.1) (47.5) (45.9) (37.8) (38.3) 1,960 3,769 7,002 12,939 5,738 11.3 (7.4) (6.5) (6.4) (7.9) (4.0) 1,547 2,928 5,662 8,425 9,179 19.5 (5.9) (5.1) (5.2) (5.2) (6.4) 69 249 408 789 673 25.5 (0.3) (0.4) (0.4) (0.5) (0.5) 3,832 17,293 30,592 63,018 60,307 (14.5) (29.9) (28.0) (38.6) (41.7) 31.7 - - 7,163 9,046 6,041 - - (6.6) (5.5) (4.2) 10.7 26,388 57,807 109,244 163,183 144,524 (100.0) (100.0) (100.0) (100.0) (100.0) 18.5 : ( ). :,,.,,. F Y1995 FY 1989FY 1995 FY 1997, () F Y199847.2%, FY 1999 45.9%.. < - 7>

30 :,. ) 1024.4% 5.9%p. IMF FY 1998. FY 1999 109%44,600. FY 1998. F Y199911.9%. 2000 8.

31 < - 16> ( :, % ) 1989 1992 1995 1997 1999 543 868 1,318 1,852 1,270 8.9 447 679 1,049 1,196 927 7.6 10,971 23,142 35,331 37,735 36,456 12.8 900 5,716 5,514 18,822 44,598 47.7 689 1,418 2,299 3,576 3,615 18.0 23 93 111 241 272 28.0 281 300 179 521 399 3.6 3,113 14,678 28,625 58,251 55,717 33.4 - - 5,147 9,249 6,873 22.0 16,968 46,895 79,571 131,445 150,126 24.4 :,,.,,. < - 8>

32 ) IMF FY 1997, IMF F Y199812.0% F Y1999. < - 17> ( :, % ) 1989 1992 1995 1997 1999 558 974 1,399 1,545 1,142 (18.9) (15.2) (21.6) (8.9) (-11.5) 7.4 502 625 901 1,173 882 (10.5) (9.2) (22.5) (19.4) (-8.1) 5.8 3,355 5,946 11,404 18,460 17,766 (51.0) (15.7) (34.4) (9.5) (3.3) 18.1 402 740 1,098 1,186 685 (47.9) (3.0) (13.0) (-7.7) (-37.4) 5.5 469 760 1,270 2,107 1,558 (30.3) (11.8) (36.6) (21.5) (-30.0) 12.7 26 75 89 124 161 (-4.1) (31.1) (-20.0) (55.3) (-4.5) 19.9 86 129 111 153 229 (10.5) (12.7) (-0.9) (48.8) (4.2) 10.3 928 3,070 5,563 12,348 12,405 (42.5) (34.8) (27.7) (27.7) (21.8) 29.6 - - 1,578 1,426 891 - - (60.8) (-19.1) (56.0) -1.9 6,326 12,319 23,413 38,523 35,720 (39.5) (18.4) (31.3) (13.6) (5.3) 18.9 : ( ). :,,.,,. 19982 F Y199937.4%

33. FY 1998. ) 1021.7%. FY1999 25,187 32.7%p 26.8%. F Y1998 154% 4.2%. < - 18> 1989 1992 1995 1997 1999 ( :, % ) 2,747 4,868 7,832 14,609 22,195 23.2 343 485 539 526 2,052 19.6 449 339 537 873 940 7.7 3,540 5,691 8,908 16,008 25,187 21.7 :,,.,,. ) 10,. IMF.

34. F Y1997F Y1998 FY 1999. < - 19> ( : ) 1989 1992 1995 1997 1999 262 70-14 -693-361 606 717 972 12 304-2,228-3,159-2,240 2636-4,292-26 -3,134-841 -13,028-35,504 25 214 575 510 1,177-8 -21 26 35-5 -159-88 27-233 183-446 -1,875-3,514-7,002-7,982 - - 387-1,611-1,719-1,974-7,276-4,623-19,375-48,201 :. :,,.,,. ) 10 90%. 102%.

35 < - 20> ( : ) 1989 1992 1995 1997 1999 21,321 51,932 98,392 150,579 137,645 3,540 5,691 8,908 16,008 25,187 174 835 800 2,463 5,300 25,035 58,458 108,100 169,050 168,132 23,695 59,238 105,293 173,393 186,328 240 481 1,144 3,824 8,777 212 144 270 1,499 6,187 24,147 59,863 106,707 178,716 201,292-2,374-7,306-6,901-22,814-48,683 3,300 5,210 7,764 12,184 16,410-38 691 530 964-887 888-1,405 1,393-9,666-33,160 215 102 65 250 1,164 673-1,507 1,328-9,916-34,324 :,,.,,.,. 1990 10% 1990 IMF FY 1997 23.9%, F Y1998 30.4%..,, FY 1989 674 FY 1992 1,506.

36 F Y1995F Y1996 F Y1997 IMF., F Y1999 59%898 FY 1999 7. < - 21> ( : ) 1989 1992 1995 1997 1999 366-302 1,666 557 898 164-1,175-432 -10,453-35,514 144-29 93-20 294 674-1,506 1,327-9,916-34,323 :,,.,,. 2) ) 1990, FY 1999 13.5% 3,505, IMF. F Y1996. F Y1998.

37 < - 22> 1989 1992 1995 1997 1999 18,659 (15.7) 2,209 (20.4) 34,010 (46.3) 21,025 (30.5) 21,082 (1.6) 2,699 (6.3) 72,196 (22.2) 33,077 (10.0) 26,749 (16.1) 3,686 (24.0) 91,942 (26.3) 38,252 (0.5) : ( ). :,,.,,. 30,617 (-1.5) 4,465 (-2.0) 102,732 (-11.3) 51,823 (11.7) ( :, % ) 24,524 (-3.6) 3,505 (-13.5) 83,466 (-4.9) 52,432 (2.7) 2.8 4.7 9.4 9.6 < - 9> ). FY 1999

38 7,9805.3%. IMF., F Y199712,790 FY 1998F Y1999. 1997 2.53, 1997 1.51.7. < - 23> 1989 1992 1995 1997 1999 24.8 (-6.9) 17.9 (3.7) 71.4 (11.0) 35.6 (5.4) 18.8 (3.4) 98.0 (10.0) 52.3 (2.1) 40.0 (15.1) 119.6 (23.4) 70.3 (52.0) 70.5 (47.6) 127.9 (5.2) : 1. ( ). 2. = /. 3. = /. 4. = /. :,,.,,. ( :, % ) 53.2 (-7.9) 79.8 (5.3) 122.6 (3.3) 7.9 16.1 5.6 ) 80%., 1990

39, 40%., F Y1999 (,, ).,,. 4,., 19994. < - 24> ( : % ) 1989 1992 1995 1997 1999 17.5 13.0 12.8 13.2 9.0 23.0 23.5 33.7 44.4 46.1 56.9 56.1 41.9 40.6 44.5 2.6 7.5 11.6 1.8 0.4 :,,.,,. ) 16.0%F Y1997 F Y1999 1.5 2

40. < - 25> 1989 1992 1995 1997 1999 32.0 (5.8) 9.6 (-2.1) 12.5 (-3.7) 32.5 (6.0) 9.3 (-3.2) 10.6 (-18.5) 58.6 (10.3) 6.8 (-4.6) 9.3 (3.2) 121.6 (56.0) 6.9 (15.8) 8.7 (2.4) ( :, % ) 141.1 (8.5) 7.5 (-4.7) 8.4 (-5.5) : 1. ( ). 2. = /. 3. = /. 4. = /. :,,.,,. 16.0-2.4-3.9 3) ) 1021.9%. 1990 FY 1995 2030% IMF 10%. F Y1999 264,708 5.5%p 18.0%..

41 < - 26> 1989 1992 1995 1997 1999 28,130 (38.8) 3,726 (39.0) 4,564 (24.8) 36,420 (36.9) 55,292 (17.0) 6,031 (8.4) 6,612 (13.7) 67,935 (15.8) 108,399 (37.6) 10,094 (6.1) 8,621 (13.7) 127,114 (32.6) : ( ). :,,. 170,044 (20.0) 17,362 (65.1) 12,034 (19.5) 199,440 (22.9) ( :, % ) 216,760 (15.7) 32,940 (40.7) 15,009 (10.4) 264,708 (18.0) 22.7 24.4 12.6 21.9 < - 10> )

42. IMF,. F Y1998. FY 1999 45.1%13.7%, 11.0%. F Y1998 2.8%p, 2.14%p. 6.3%p. FY 1999 1.3%, 19.2%.

43 < - 27> ( :, % ) 1989 1992 1995 1997 1999 - - - - 7,885 12,226 23,905 37,106 29,056 (21.7) (18.0) (18.8) (18.6) (11.0) 14,492 25,162 41,549 64,068 119,287 (39.8) (37.0) (32.7) (32.1) (45.1) 8,185 10,844 19,822 22,462 21,928 (22.5) (16.0) (15.6) (11.3) (8.3) 6,218 13,568 20,677 39,850 58,173 (17.1) (20.0) (16.3) (20.0) (22.0) - - - - 27,100 - - - - (10.2) 88 750 1,050 1,757 12,086 (0.2) (1.1) (0.8) (0.9) (4.6) 5,318 12,554 27,877 44,675 36,267 (14.6) (18.5) (21.9) (22.4) (13.7) 2,587 5,066 11,147 17,532 25,783 (7.1) (7.5) (8.8) (8.8) (9.7) 30,282 55,008 104,478 163,381 210,393 (83.1) (81.0) (82.2) (81.9) (79.5) 6,138 12,927 22,636 36,059 50,781 (16.9) (19.0) (17.8) (18.1) (19.2) - - - - 3,534 - - - - (1.3) 36,420 67,935 127,114 199,440 264,708 (100.0) (100.0) (100.0) (100.0) (100.0) : 1. ( ). 2. 19891997. :,,. 4) ). 10 F Y1992

44 F Y1995FY 1997, 25%.,. FY 1993 92.9% IMF F Y1997FY 1998. 27% 109%. 10%,. < - 28> ( : % ) 1989 1992 1995 1997 1999 80.8 86.8 80.4 78.8 83.9 24.9 22.1 22.4 24.7 27.0 105.6 108.9 102.8 103.6 110.9 74.5 130.2 96.8 267.2 462.4 20.2 21.0 20.2 21.2 15.0 94.7 151.3 117.0 288.4 477.4 70.9 104.9 72.1 89.5 75.2 35.6 29.5 29.3 28.7 23.4 106.5 134.4 101.5 118.2 98.6 79.6 90.3 80.9 87.3 109.1 25.4 22.4 22.6 24.8 26.4 105.0 112.7 103.5 112.1 135.5 :,,.,,.

45 80% F Y199286.8%, F Y1999 5.1%p. F Y1997. ) FY 1995 IMF, F Y1999 456%. F Y1990 F Y199911.3%p 8. < - 29> ( : % ) 1989 1992 1995 1997 1999 39.9 45.4 4.9 68.5 61.9 28.8 33.7 35.9 50.2 46.0 90.7 89.3 79.4 64.1 73.0 70.5 172.1 95.5 269.7 456.0 58.3 59.3 55.5 57.7 56.9 55.6 63.4 49.1 60.3 63.6 135.3 88.0 56.6 118.0 49.2 86.6 92.5 93.3 91.6 92.6 - - 72.0 102.2 113.7 79.6 90.3 64.8 87.3 109.1 :,,.,,.

46,,, 10 4 060%. ) 109.4%. 11.6% 2%. 20%. F Y1999 7%. FY 1999 7%.., F Y199910.9% 1.1%p..

47 < - 30> ( : % ) 1989 1992 1995 1997 1999 85.4 84.0 84.3 84.1 85.8 79.8 69.1 74.4 75.6 48.4 71.7 66.6 65.2 60.7 52.3 83.1 81.0 82.2 81.9 79.5 12.0 10.0 8.7 9.8 11.6 11.3 8.7 5.7 3.8 7.6 11.6 5.6 6.9 8.2 6.8 11.9 9.4 8.3 9.3 10.9 :,,.,,. < - 11>

48 2. 30 IMF.. FY 1998 46.3 6, 14.1 127 IMF. 1990 IMF,. IMF, IMF... 30Ca sh F low M anagem ent.,

49.,. IMF,.,. FY 1989 3.0%F Y1999 24.0%.. 3 F Y1997 10.2% F Y1999 19.9%,.,. IMF,.

50...,,.,,,. 1990 IMF,,. 90% /,. 1990T M,, (Direct M arketing ), /.

51.,,,... IMF..,,...,.