{"id":259342,"date":"2025-06-05T12:10:27","date_gmt":"2025-06-05T11:10:27","guid":{"rendered":"https:\/\/www.memo.mk\/?p=259342"},"modified":"2025-06-05T12:10:30","modified_gmt":"2025-06-05T11:10:30","slug":"%d0%bc%d0%b5%d0%bc%d0%be-%d0%bd%d0%b0-30-%d0%b0%d1%82%d0%b8%d0%bd%d1%81%d0%ba%d0%b8-%d1%84%d0%be%d1%80%d1%83%d0%bc-%d0%b7%d0%b0-%d0%b5%d0%bb%d0%b5%d0%ba%d1%82%d1%80%d0%b8%d1%87%d0%bd%d0%b0-%d0%b5","status":"publish","type":"post","link":"https:\/\/www.memo.mk\/?p=259342","title":{"rendered":"\u041c\u0415\u041c\u041e \u043d\u0430 30. \u0410\u0442\u0438\u043d\u0441\u043a\u0438 \u0444\u043e\u0440\u0443\u043c \u0437\u0430 \u0435\u043b\u0435\u043a\u0442\u0440\u0438\u0447\u043d\u0430 \u0435\u043d\u0435\u0440\u0433\u0438\u0458\u0430"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u0414\u0438\u043d\u0430\u043c\u0438\u0447\u043d\u0438 \u0438 \u0441\u0443\u0448\u0442\u0438\u043d\u0441\u043a\u0438 \u0434\u0438\u0441\u043a\u0443\u0441\u0438\u0438 \u043d\u0430 30. \u0410\u0442\u0438\u043d\u0441\u043a\u0438 \u0444\u043e\u0440\u0443\u043c \u0437\u0430 \u0435\u043b\u0435\u043a\u0442\u0440\u0438\u0447\u043d\u0430 \u0435\u043d\u0435\u0440\u0433\u0438\u0458\u0430, \u043e\u0440\u0433\u0430\u043d\u0438\u0437\u0438\u0440\u0430\u043d \u043e\u0434 \u0421\u0435\u043a\u0440\u0435\u0442\u0430\u0440\u0438\u0458\u0430\u0442\u043e\u0442 \u043d\u0430 \u0415\u043d\u0435\u0440\u0433\u0435\u0442\u0441\u043a\u0430\u0442\u0430 \u0437\u0430\u0435\u0434\u043d\u0438\u0446\u0430. \u041d\u0430 \u043d\u0430\u0441\u0442\u0430\u043d\u043e\u0442 \u0430\u043a\u0442\u0438\u0432\u043d\u043e \u0443\u0447\u0435\u0441\u0442\u0432\u0443\u0432\u0430\u0448\u0435 \u0434\u0435\u043b\u0435\u0433\u0430\u0446\u0438\u0458\u0430 \u043d\u0430 \u041c\u0415\u041c\u041e \u043f\u0440\u0435\u0434\u0432\u043e\u0434\u0435\u043d\u0430 \u043e\u0434 \u0443\u043f\u0440\u0430\u0432\u0438\u0442\u0435\u043b\u043e\u0442 \u0417\u043e\u0440\u0430\u043d \u0403\u043e\u0440\u0453\u0438\u0435\u0432\u0441\u043a\u0438, \u043a\u043e\u0458 \u0437\u0431\u043e\u0440\u0443\u0432\u0430\u0448\u0435 \u043d\u0430 \u043f\u0430\u043d\u0435\u043b \u043f\u043e\u0441\u0432\u0435\u0442\u0435\u043d \u043d\u0430 \u0432\u0430\u0436\u043d\u043e\u0441\u0442\u0430 \u043e\u0434 \u0440\u0435\u0433\u0438\u043e\u043d\u0430\u043b\u043d\u043e\u0442\u043e \u043f\u043e\u0432\u0440\u0437\u0443\u0432\u0430\u045a\u0435 \u043d\u0430 \u043f\u0430\u0437\u0430\u0440\u0438\u0442\u0435 (market coupling).<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"996\" height=\"1024\" src=\"https:\/\/www.memo.mk\/wp-content\/uploads\/2025\/06\/1749121111437-996x1024.jpg\" alt=\"\" class=\"wp-image-259344\" srcset=\"https:\/\/www.memo.mk\/wp-content\/uploads\/2025\/06\/1749121111437-996x1024.jpg 996w, https:\/\/www.memo.mk\/wp-content\/uploads\/2025\/06\/1749121111437-980x1008.jpg 980w, https:\/\/www.memo.mk\/wp-content\/uploads\/2025\/06\/1749121111437-480x494.jpg 480w\" sizes=\"auto, (min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 996px, 100vw\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u0412\u043e \u0441\u0432\u043e\u0435\u0442\u043e \u0438\u0437\u043b\u0430\u0433\u0430\u045a\u0435, \u0403\u043e\u0440\u0453\u0438\u0435\u0432\u0441\u043a\u0438 \u043f\u043e\u0442\u0435\u043d\u0446\u0438\u0440\u0430\u0448\u0435 \u0434\u0435\u043a\u0430 <strong>\u0438\u043d\u0442\u0435\u0433\u0440\u0430\u0446\u0438\u0458\u0430\u0442\u0430 \u043d\u0430 \u043c\u0430\u043a\u0435\u0434\u043e\u043d\u0441\u043a\u0438\u043e\u0442 \u043e\u0440\u0433\u0430\u043d\u0438\u0437\u0438\u0440\u0430\u043d \u043f\u0430\u0437\u0430\u0440 \u043d\u0430 \u0435\u043b\u0435\u043a\u0442\u0440\u0438\u0447\u043d\u0430 \u0435\u043d\u0435\u0440\u0433\u0438\u0458\u0430 \u0432\u043e \u0415\u0434\u0438\u043d\u0441\u0442\u0432\u0435\u043d\u0438\u043e\u0442 \u0435\u0432\u0440\u043e\u043f\u0441\u043a\u0438 \u043f\u0430\u0437\u0430\u0440 \u0435 \u043e\u0434 \u0441\u0442\u0440\u0430\u0442\u0435\u0448\u043a\u0430 \u0432\u0430\u0436\u043d\u043e\u0441\u0442 \u0437\u0430 \u043d\u0430\u0448\u0430\u0442\u0430 \u0434\u0440\u0436\u0430\u0432\u0430<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"486\" src=\"https:\/\/www.memo.mk\/wp-content\/uploads\/2025\/06\/20250604_132526-1024x486.jpg\" alt=\"\" class=\"wp-image-259345\" srcset=\"https:\/\/www.memo.mk\/wp-content\/uploads\/2025\/06\/20250604_132526-980x466.jpg 980w, https:\/\/www.memo.mk\/wp-content\/uploads\/2025\/06\/20250604_132526-480x228.jpg 480w\" sizes=\"auto, (min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"> \u201e\u0418\u0430\u043a\u043e \u043f\u043e\u0432\u0440\u0437\u0443\u0432\u0430\u045a\u0435\u0442\u043e \u043f\u0440\u0435\u0434 2026 \u0432\u0435\u045c\u0435 \u043d\u0435 \u0435 \u043e\u043f\u0446\u0438\u0458\u0430, \u0444\u043e\u043a\u0443\u0441\u043e\u0442 \u043c\u043e\u0440\u0430 \u0434\u0430 \u0441\u0435 \u043f\u0440\u0435\u0444\u0440\u043b\u0438 \u043d\u0430 \u043e\u0431\u0435\u0437\u0431\u0435\u0434\u0443\u0432\u0430\u045a\u0435 \u043d\u0430 \u043a\u0432\u0430\u043b\u0438\u0442\u0435\u0442\u043d\u0430 \u0438 \u043a\u0440\u0435\u0434\u0438\u0431\u0438\u043b\u043d\u0430 \u0438\u043c\u043f\u043b\u0435\u043c\u0435\u043d\u0442\u0430\u0446\u0438\u0458\u0430 \u0432\u043e \u043f\u0435\u0440\u0438\u043e\u0434 <strong>\u043e\u0434 Q4 2026 \u0434\u043e Q1 2027<\/strong>,\u201c \u0438\u0441\u0442\u0430\u043a\u043d\u0430 \u0403\u043e\u0440\u0453\u0438\u0435\u0432\u0441\u043a\u0438.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u041e\u0432\u043e\u0458 \u043f\u0440\u043e\u0446\u0435\u0441 \u043d\u043e\u0441\u0438 \u043f\u043e\u0432\u0435\u045c\u0435\u043a\u0440\u0430\u0442\u043d\u0438 \u043f\u0440\u0438\u0434\u043e\u0431\u0438\u0432\u043a\u0438:<br>&#8211; \u0417\u0433\u043e\u043b\u0435\u043c\u0435\u043d\u0430 \u043b\u0438\u043a\u0432\u0438\u0434\u043d\u043e\u0441\u0442<br>&#8211; \u041f\u043e\u043a\u043e\u043d\u043a\u0443\u0440\u0435\u043d\u0442\u043d\u0438 \u0438 \u0442\u0440\u0430\u043d\u0441\u043f\u0430\u0440\u0435\u043d\u0442\u043d\u0438 \u0446\u0435\u043d\u0438<br>&#8211; \u0417\u0433\u043e\u043b\u0435\u043c\u0435\u043d\u0438 \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0438 \u0432\u043e \u0435\u043d\u0435\u0440\u0433\u0435\u0442\u0441\u043a\u0438\u043e\u0442 \u0441\u0435\u043a\u0442\u043e\u0440<br>&#8211; \u041c\u043e\u0436\u043d\u043e\u0441\u0442 \u0437\u0430 \u0438\u0437\u0437\u0435\u043c\u0430\u045a\u0435 \u043e\u0434 \u043c\u0435\u0445\u0430\u043d\u0438\u0437\u043c\u043e\u0442 CBAM \u0437\u0430 \u0435\u043b\u0435\u043a\u0442\u0440\u0438\u0447\u043d\u0430\u0442\u0430 \u0435\u043d\u0435\u0440\u0433\u0438\u0458\u0430<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"788\" src=\"https:\/\/www.memo.mk\/wp-content\/uploads\/2025\/06\/20250604_132543.jpg\" alt=\"\" class=\"wp-image-259346\" srcset=\"https:\/\/www.memo.mk\/wp-content\/uploads\/2025\/06\/20250604_132543.jpg 940w, https:\/\/www.memo.mk\/wp-content\/uploads\/2025\/06\/20250604_132543-480x402.jpg 480w\" sizes=\"auto, (min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 940px, 100vw\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u0424\u043e\u0440\u0443\u043c\u043e\u0442 \u043e\u0431\u0435\u0434\u0438\u043d\u0438 \u043d\u043e\u0441\u0438\u0442\u0435\u043b\u0438 \u043d\u0430 \u043f\u043e\u043b\u0438\u0442\u0438\u043a\u0438, \u0440\u0435\u0433\u0443\u043b\u0430\u0442\u043e\u0440\u0438, \u043f\u0440\u043e\u0444\u0435\u0441\u0438\u043e\u043d\u0430\u043b\u0446\u0438 \u043e\u0434 \u0438\u043d\u0434\u0443\u0441\u0442\u0440\u0438\u0458\u0430\u0442\u0430 \u0438 \u0435\u043a\u0441\u043f\u0435\u0440\u0442\u0438 \u043e\u0434 \u0446\u0435\u043b\u0438\u043e\u0442 \u0440\u0435\u0433\u0438\u043e\u043d, \u043a\u043e\u0438 \u043f\u043e\u043a\u0440\u0430\u0458 \u043f\u0430\u0437\u0430\u0440\u043d\u043e\u0442\u043e \u043f\u043e\u0432\u0440\u0437\u0443\u0432\u0430\u045a\u0435&nbsp; \u0434\u0438\u0441\u043a\u0443\u0442\u0438\u0440\u0430\u0430 \u0438&nbsp; \u0437\u0430 \u0435\u043d\u0435\u0440\u0433\u0435\u0442\u0441\u043a\u0430\u0442\u0430 \u0442\u0440\u0430\u043d\u0437\u0438\u0446\u0438\u0458\u0430 \u0438 \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0438\u0442\u0435 \u0432\u043e \u043e\u0431\u043d\u043e\u0432\u043b\u0438\u0432\u0438 \u0438\u0437\u0432\u043e\u0440\u0438 \u043d\u0430 \u0435\u043d\u0435\u0440\u0433\u0438\u0458\u0430.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u0414\u0438\u043d\u0430\u043c\u0438\u0447\u043d\u0438 \u0438 \u0441\u0443\u0448\u0442\u0438\u043d\u0441\u043a\u0438 \u0434\u0438\u0441\u043a\u0443\u0441\u0438\u0438 \u043d\u0430 30. \u0410\u0442\u0438\u043d\u0441\u043a\u0438 \u0444\u043e\u0440\u0443\u043c \u0437\u0430 \u0435\u043b\u0435\u043a\u0442\u0440\u0438\u0447\u043d\u0430 \u0435\u043d\u0435\u0440\u0433\u0438\u0458\u0430, \u043e\u0440\u0433\u0430\u043d\u0438\u0437\u0438\u0440\u0430\u043d \u043e\u0434 \u0421\u0435\u043a\u0440\u0435\u0442\u0430\u0440\u0438\u0458\u0430\u0442\u043e\u0442 \u043d\u0430 \u0415\u043d\u0435\u0440\u0433\u0435\u0442\u0441\u043a\u0430\u0442\u0430 \u0437\u0430\u0435\u0434\u043d\u0438\u0446\u0430. \u041d\u0430 \u043d\u0430\u0441\u0442\u0430\u043d\u043e\u0442 \u0430\u043a\u0442\u0438\u0432\u043d\u043e \u0443\u0447\u0435\u0441\u0442\u0432\u0443\u0432\u0430\u0448\u0435 \u0434\u0435\u043b\u0435\u0433\u0430\u0446\u0438\u0458\u0430 \u043d\u0430 \u041c\u0415\u041c\u041e \u043f\u0440\u0435\u0434\u0432\u043e\u0434\u0435\u043d\u0430 \u043e\u0434 \u0443\u043f\u0440\u0430\u0432\u0438\u0442\u0435\u043b\u043e\u0442 \u0417\u043e\u0440\u0430\u043d \u0403\u043e\u0440\u0453\u0438\u0435\u0432\u0441\u043a\u0438, \u043a\u043e\u0458 \u0437\u0431\u043e\u0440\u0443\u0432\u0430\u0448\u0435 \u043d\u0430 \u043f\u0430\u043d\u0435\u043b \u043f\u043e\u0441\u0432\u0435\u0442\u0435\u043d \u043d\u0430 \u0432\u0430\u0436\u043d\u043e\u0441\u0442\u0430 \u043e\u0434 \u0440\u0435\u0433\u0438\u043e\u043d\u0430\u043b\u043d\u043e\u0442\u043e \u043f\u043e\u0432\u0440\u0437\u0443\u0432\u0430\u045a\u0435 \u043d\u0430 \u043f\u0430\u0437\u0430\u0440\u0438\u0442\u0435 (market coupling). \u0412\u043e \u0441\u0432\u043e\u0435\u0442\u043e \u0438\u0437\u043b\u0430\u0433\u0430\u045a\u0435, \u0403\u043e\u0440\u0453\u0438\u0435\u0432\u0441\u043a\u0438 \u043f\u043e\u0442\u0435\u043d\u0446\u0438\u0440\u0430\u0448\u0435 \u0434\u0435\u043a\u0430 \u0438\u043d\u0442\u0435\u0433\u0440\u0430\u0446\u0438\u0458\u0430\u0442\u0430 \u043d\u0430 \u043c\u0430\u043a\u0435\u0434\u043e\u043d\u0441\u043a\u0438\u043e\u0442 \u043e\u0440\u0433\u0430\u043d\u0438\u0437\u0438\u0440\u0430\u043d \u043f\u0430\u0437\u0430\u0440 \u043d\u0430 [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":259343,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-259342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.memo.mk\/index.php?rest_route=\/wp\/v2\/posts\/259342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.memo.mk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.memo.mk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.memo.mk\/index.php?rest_route=\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.memo.mk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=259342"}],"version-history":[{"count":1,"href":"https:\/\/www.memo.mk\/index.php?rest_route=\/wp\/v2\/posts\/259342\/revisions"}],"predecessor-version":[{"id":259347,"href":"https:\/\/www.memo.mk\/index.php?rest_route=\/wp\/v2\/posts\/259342\/revisions\/259347"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.memo.mk\/index.php?rest_route=\/wp\/v2\/media\/259343"}],"wp:attachment":[{"href":"https:\/\/www.memo.mk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=259342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.memo.mk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=259342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.memo.mk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=259342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}