natgillin/translations-raw huggingface dataset:
The EUSR shall closely cooperate with the authorities of the countries involved, the UN, the AU, IGAD, other national regional and international stakeholders, and also with civil society in the region.
PPEU tesno sodeluje z oblastmi zadevnih držav, z ZN, AU, IGAD, drugimi zainteresiranimi stranmi na nacionalni, regionalni in mednarodni ravni ter civilno družbo v regiji.
The EUSR shall present to the Council, the HR and the Commission a progress report by the end of April 2014 and a comprehensive mandate implementation report at the end of the mandate.
PPEU do konca aprila 2014 predloži Svetu, VP in Komisiji poročilo o napredku, ob izteku mandata pa celovito poročilo o izvajanju nalog.
Done at Brussels, 24 October 2013.
V Bruslju, 24. oktobra 2013
Council Decision 2011/819/CFSP of 8 December 2011 appointing the European Union Special Representative for the Horn of Africa (OJ L 327, 9.12.2011, p. 62.).
Sklep Sveta 2011/819/SZVP z dne 8. decembra 2011 o imenovanju posebnega predstavnika Evropske unije za Afriški rog (UL L 327, 9.12.2011, str. 62).
Council Decision 2010/450/CFSP of 11 August 2010 appointing the European Union Special Representative for Sudan (OJ L 211, 12.8.2010, p. 42.).
Sklep Sveta 2010/450/SZVP z dne 11. avgusta 2010 o imenovanju posebnega predstavnika Evropske unije za Sudan (UL L 211, 12.8.2010, str. 42).
Council Decision 2011/168/CFSP of 21 March 2011 on the International Criminal Court and repealing Common Position 2003/444/CFSP (OJ L 76, 22.3.2011, p. 56.).
Sklep Sveta 2011/168/SZVP z dne 21. marca 2011 o Mednarodnem kazenskem sodišču in razveljavitvi Skupnega stališča 2003/444/SZVP (UL L 76, 22.3.2011, str. 56).
Council Decision 2011/292/EU of 31 March 2011 on the security rules for protecting EU classified information (OJ L 141, 27.5.2011, p. 17.).
Sklep Sveta 2011/292/EU z dne 31. marca 2011 o varnostnih predpisih za varovanje tajnih podatkov EU (UL L 141, 27.5.2011, str. 17).
on State aid measure SA.
o ukrepu državne pomoči št. SA.
33113 (2012/C) (ex 2011/NN, 2011/CP) awarded by Poland for Nauta S.A.
33113 (2012/C) (ex 2011/NN, 2011/CP) Poljske za družbo Nauta S.A.
(notified under document C(2013) 1522)
(notificirano pod dokumentarno številko C(2013) 1522)
On 6 November 2008 the Commission adopted two recovery decisions [2] concerning unlawful state aid to the shipyards in Gdynia and Szczecin (‘Gdynia Shipyard’ and ‘Szczecin Shipyard’) allowing a special sales procedure.
Komisija je 6. novembra 2008 sprejela dve odločbi o vračilu pomoči [2] v zvezi z nezakonito državno pomočjo, dodeljeno ladjedelnicama Gdynia in Szczecin (v nadaljnjem besedilu: ladjedelnica Gdynia oziroma ladjedelnica Szczecin).
The Polish authorities were given an opportunity to sell the yards' assets in packages in open, transparent, unconditional and non-discriminatory tenders.
Ta pomoč je dopuščala poseben postopek prodaje, kar pomeni, da so imeli poljski organi možnost prodaje sredstev ladjedelnic v več delih prek odprtega, preglednega, brezpogojnega in nediskriminacijskega javnega razpisa.
The Commission, when following up the recovery process, requested clarifications on the tender procedures.
Komisija je med spremljanjem postopka vračila pomoči zahtevala pojasnila o razpisnih postopkih.
A request for information was sent by the Commission on 10 June 2010 to which the Polish authorities replied on 9 July 2010 with subsequent information being sent on 30 July 2010, 3 September 2010, 4 October 2010 and 16 December 2011.
Komisija je 10. junija 2010 poslala zahtevo po informacijah, na katero so poljski organi odgovorili 9. julija 2010, nadaljnje informacije pa so bile poslane 30. julija 2010, 3. septembra 2010, 4. oktobra 2010 in 16. decembra 2011.
By letter dated 25 January 2012, the Commission informed Poland that it had decided to initiate the procedure laid down in Article 108(2) of the Treaty on the Functioning of the European Union (‘the Treaty’ or ‘TFEU’) in relation to the acquisition of some of the assets of Gdynia Shipyard by Nauta S.A. Repair Shipyard (‘Nauta’ or ‘the company’).
Komisija je z dopisom z dne 25. januarja 2012 Poljski sporočila, da bo začela postopek v skladu s členom 108(2) Pogodbe o delovanju Evropske unije (v nadaljnjem besedilu: Pogodba ali PDEU) glede nakupa nekaterih sredstev ladjedelnice Gdynia s strani ladjedelnice Nauta S.A. Repair Shipyard (v nadaljnjem besedilu: družba Nauta ali družba).
The opening decision was published in the Official Journal of the European Union [3].
Sklep o začetku postopka je bil objavljen v Uradnem listu Evropske unije [3].
The Commission did not receive any comments from third parties on the measures.
Komisija o ukrepih ni prejela nobenih pripomb tretjih oseb.
Nauta, which was created in 1926, is one of the oldest Polish shipyards.
Družba Nauta, ki je bila ustanovljena leta 1926, je ena od najstarejših poljskih ladjedelnic.
Between 1945 and 2010, Nauta was fully and directly owned by the Treasury.
Med letoma 1945 in 2010 je bila v popolni in neposredni lasti ministrstva za finance.
On 28 October 2009 a notarial deed was signed by which the State-owned Industrial Development Agency (‘the IDA’) purchased 93,15 % of shares in Nauta for PLN [80-140] [4] million [5] (ca. EUR [20-35] million [6]).
Državna Agencija za industrijski razvoj (v nadaljnjem besedilu: AIR) je 28. oktobra 2009 podpisala notarsko listino, s katero je kupila 93,15 % delnic v družbi Nauta v vrednosti [80–140] [4] milijonov PLN [5] (približno [20–35] milijonov EUR [6]).
The transaction was completed on 12 January 2010, when the Treasury handed over the shares in Nauta to the IDA, after which the IDA became the majority shareholder of Nauta [7].
Transakcija se je zaključila 12. januarja 2010, ko je ministrstvo za finance delnice v družbi Nauta predalo AIR, s čimer je slednja postala večinski delničar v družbi Nauta [7].
The main activity of the company is the repair and rebuilding of small and medium-sized ships.
Glavni dejavnosti družbe sta popravilo in obnova malih in srednje velikih ladij.
It also builds small specialist vessels and manufactures steel structures.
Poleg tega se družba ukvarja tudi z izdelavo malih specializiranih plovil in jeklenih struktur.
Nauta is the parent company of a group comprising 13 subsidiaries and associates.
Družba Nauta je matična družba skupine, ki jo sestavlja 13 hčerinskih in povezanih družb.
The activities of the subsidiaries and associates relate mainly to the shipyard business.
Njihove dejavnosti se nanašajo predvsem na ladjedelništvo.
Nauta operates within the group as administrative centre in the following areas: marketing, acquisition of orders, maintenance of energy systems and other resources, project management.
Družba Nauta znotraj skupine deluje kot upravno središče na naslednjih področjih: trženje, pridobivanje naročil, vzdrževanje energetskih sistemov in drugih virov ter vodenje projektov.
Selected financial data for Nauta before and after the bond issue (see recital 19; ‘pre-transaction’ and ‘post-transaction’) are presented in Table 1 below.
Izbrani finančni podatki za družbo Nauta pred izdajo obveznic in po njej (glej uvodno izjavo (19); v nadaljnjem besedilu: pred transakcijo in po transakciji) so prikazani v tabeli 1.
Selected financial data for Nauta in 2006-2011
Izbrani finančni podatki za družbo Nauta v obdobju 2006–2011
(PLN thousand)
(v tisočih PLN)
Pre-transaction results
Izidi pred transakcijo
Post-transaction results
Izidi po transakciji
Profit from sales
Dobiček od prodaje
Return on sales
Donosnost prodaje
Gross profit/loss
Bruto dobiček/izguba
Net profit/loss
Čisti dobiček/izguba
The company's financial situation deteriorated in 2009 and 2010 as a result of the global financial crisis and exchange rate fluctuations.
Finančno stanje družbe se je leta 2009 in 2010 zaradi svetovne finančne krize in nihanj menjalnih tečajev poslabšalo.
Additionally, in 2010 the company set aside a provision for the modernisation of the assets acquired in 2009 (see recital 17 below) which contributed to an increase in other operating costs.
Poleg tega je družba leta 2010 del kapitala namenila posodobitvi sredstev, kupljenih leta 2009 (glej uvodno izjavo (17)), kar je prispevalo k povečanju drugih stroškov poslovanja.
BENEFICIARY'S BUSINESS STRATEGY FOR 2009-2012
POSLOVNA STRATEGIJA UPRAVIČENCA ZA OBDOBJE 2009–2012
SUMMARY OF THE BENEFICIARY'S BUSINESS STRATEGY
POVZETEK POSLOVNE STRATEGIJE UPRAVIČENCA
According to the Polish authorities, Nauta’s business strategy for 2009-2012 can be broken down into the following steps:
Po navedbah poljskih organov je poslovno strategijo družbe Nauta za obdobje 2009–2012 mogoče razčleniti na naslednji način:
Nauta issues bonds to a value of PLN 120 million (EUR 30 million approx.), subscribed by the IDA;
družba Nauta izda obveznice v vrednosti 120 milijonov PLN (približno 30 milijonov EUR), ki jih vpiše AIR;
Nauta purchases assets of Gdynia Shipyard;
družba Nauta kupi sredstva ladjedelnice Gdynia;
Nauta's place of business is transferred to the area where the purchased assets are located;
družba Nauta sedež prenese na območje, na katerem so kupljena sredstva;
the land on which Nauta currently operates is sold;
zemljišče, na katerem družba Nauta trenutno posluje, se proda;
the bonds are redeemed from the IDA in November 2011 at the latest.
obveznice se izplačajo iz AIR najpozneje novembra 2011.
VALUATIONS OF THE LAND ON WHICH NAUTA CURRENTLY OPERATES
OCENE ZEMLJIŠČA, NA KATEREM DRUŽBA NAUTA TRENUTNO POSLUJE
The company owns the land on which it currently operates.
Družba je lastnik zemljišča, na katerem trenutno posluje.
The land is located in the centre of Gdynia and covers 84497 square metres.
Zemljišče je v središču Gdynie in zajema 84497 kvadratnih metrov.
According to the Polish authorities, the business rationale for acquiring Gdynia Shipyard’s assets was based on the assumption that the area where Nauta is currently located would be redefined as a business and services (‘non-industrial’ or ‘commercial’) area instead of an industrial one pursuant to Gdynia City Council Resolution No XVII/400/08 dated 27 February 2008 approving the urban development study for Gdynia (‘the study’).
Po navedbah poljskih organov je poslovna logika za nakup sredstev ladjedelnice Gdynia temeljila na predpostavki, da bo območje, na katerem ima družba Nauta trenutno sedež, ponovno opredeljeno kot poslovno in storitveno („neindustrijsko“ ali „komercialno“) območje in ne kot industrijsko, kot je bilo določeno v resoluciji mestnega sveta Gdynie št. XVII/400/08 z dne 27. februarja 2008 o odobritvi urbanistične študije za Gdynio (v nadaljnjem besedilu: študija).
According to the Polish authorities, in the light of the study and in view of the ongoing process of changing the urban development plan for Gdynia, the estimated market value of the land in 2011 amounted to PLN [> 2000] (EUR [> 500]) per square metre, i.e. PLN [> 168] million (EUR [> 42] million).
Po navedbah poljskih organov je glede na študijo in postopek spremembe urbanističnega načrta za Gdynio, ki še poteka, ocenjena tržna vrednost zemljišča leta 2011 znašala [> 2000] PLN ([> 500] EUR) na kvadratni meter, tj. [> 168] milijonov PLN ([> 42] milijonov EUR).
The only pre-transaction valuation of this land was performed on 21 October 2009 by […], a certified surveyor.
Edino oceno tega zemljišča pred transakcijo je 21. oktobra 2009 izvedel pooblaščeni cenilec […].
It estimated the value at PLN [> 168] million (EUR [> 42] million), which corresponds to a value of PLN [> 1900] (EUR [> 475]) per square metre.
Vrednost zemljišča je ocenil na [> 168] milijonov PLN ([> 42] milijonov EUR), kar ustreza vrednosti [> 1900] PLN ([> 475] EUR) na kvadratni meter.
The valuation assumed that the urban development plan for Gdynia would be changed so that the land could be sold as commercial land.
Ocena je temeljila na predpostavki, da bo urbanistični načrt za Gdynio spremenjen in da bo zato zemljišče mogoče prodati kot komercialno zemljišče.
Other valuations were performed ex post in 2010 and 2011.
Druge ocene so bile izvedene naknadno, in sicer leta 2010 in 2011.
A summary of all the valuations conducted by independent surveyors (ex ante and ex post) is set out in Table 2 below.
V tabeli 2 so povzete vse (predhodne in naknadne) ocene, ki so jih izvedli neodvisni cenilci.
Value of Nauta's land estimated by independent surveyors
Ocena vrednosti zemljišča družbe Nauta, ki so jo izvedli neodvisni cenilci
Appraisal date
Datum ocene
Assumption regarding land use
Predvidena raba zemljišča
Estimated total value, PLN
Ocenjena skupna vrednost v PLN
Estimated value per square metre, PLN
Ocenjena vrednost na kvadratni meter v PLN
Pre-transaction
pred transakcijo
Non-industrial
za neindustrijske namene
Post-transaction
po transakciji
Industrial
za industrijske namene
PURCHASE OF THE ASSETS OF GDYNIA SHIPYARD
NAKUP SREDSTEV LADJEDELNICE GDYNIA
In order to implement the Commission’s recovery decision of November 2008 concerning unlawful state aid to Gdynia Shipyard, which allowed for a special sale procedure, the Polish authorities organised open tenders to sell the assets of that shipyard.
Da bi poljski organi izvedli odločbo Komisije iz novembra 2008 o vračilu pomoči v zvezi z nezakonito državno pomočjo, dodeljeno ladjedelnici Gdynia, ki je dopuščala poseben postopek prodaje, so organizirali javne razpise za prodajo sredstev navedene ladjedelnice.
In November 2009 Nauta acquired some of these assets (‘acquired assets’) by way of an open tender for PLN 57,7 million (EUR 14 million), including:
Družba Nauta je novembra 2009 na enem od javnih razpisov kupila nekatera od teh sredstev (v nadaljnjem besedilu: kupljena sredstva), in sicer za 57,7 milijona PLN (14 milijonov EUR), pri čemer so ta sredstva vključevala:
an outfitting area (2 quays with infrastructure, prefabrication hall, cranes, social facilities for workers including a canteen) for which it paid PLN 34,6 million;
območje za opremljanje (dva pomola, vključno z infrastrukturo, delavnico za predhodno izdelavo, žerjavi, družbenimi objekti za delavce, vključno z menzo), za katero je plačala 34,6 milijona PLN;
an outside area (with cranes to produce three-dimensional sections) for PLN 5 million;
zunanje območje (vključno z žerjavi za izdelavo tridimenzionalnih struktur) za 5 milijonov PLN;
a section of a building and outfitting facilities with cranes, including two production halls for PLN 18,1 million.
del enega objekta in strukture za opremljanje z žerjavi, vključno z dvema proizvodnima halama, za 18,1 milijona PLN.
The purchase was financed through a 2-year bond issue subscribed by the IDA at an actual interest rate of 5,28 %.
Nakup se je financiral z izdajo dveletnih obveznic, ki jih je AIR vpisala po dejanski obrestni meri 5,28 %.
The purchase of assets was financed through a 2-year bond issue acquired by the IDA for PLN 120 million (EUR 30 million) [8], at an actual annual interest rate of 5,28 % (5,15 % in the 1st year and 5,42 % in the 2nd year) with a maturity date of 30 November 2011 (‘the first measure’ or ‘the transaction’).
Nakup se je financiral z izdajo dveletnih obveznic, ki jih je AIR kupila za 120 milijonov PLN (30 milijonov EUR) [8], in sicer po dejanski letni obrestni meri 5,28 % (5,15 % prvo leto in 5,42 % drugo) in z rokom zapadlosti 30. novembra 2011 (v nadaljnjem besedilu: prvi ukrep ali transakcija).
The issue was secured by a mortgage on the land on which the company operated (see Section 2.2 above).
Izdaja je bila zavarovana s hipoteko na zemljišče, na katerem je družba poslovala (glej oddelek 2.2).
Nauta planned to redeem the bonds using the proceeds from the sale of the land.
Družba Nauta je obveznice nameravala izplačati z iztržkom od prodaje zemljišča.
Since the new location to which Nauta's place of business was to be transferred following adaptation and modernisation of the acquired assets was not ready by the date initially envisaged, Nauta did not sell the land, and did not redeem the bonds purchased by the IDA.
Ker nova lokacija, na katero naj bi se po prilagoditvi in posodobitvi kupljenih sredstev prenesel sedež družbe Nauta, do prvotno predvidenega datuma še ni bila pripravljena, družba Nauta ni prodala zemljišča in ni izplačala obveznic, ki jih je kupila AIR.
DECISION TO OPEN THE FORMAL INVESTIGATION PROCEDURE
SKLEP O ZAČETKU FORMALNEGA POSTOPKA PREISKAVE
In the opening decision the Commission expressed doubts as to whether Nauta would have been able to obtain such financing on similar terms on the market.
Komisija je v sklepu o začetku postopka izrazila dvome glede tega, ali bi družba Nauta pod podobnimi pogoji na trgu lahko pridobila taka finančna sredstva.
Particular reference was made to:
Pri tem se je sklicevala zlasti na:
optimistic assumptions regarding an increase in revenues;
optimistične predpostavke glede povečanja prihodkov;
optimistic assumptions regarding the future sale of land;
optimistične predpostavke glede prodaje zemljišča v prihodnosti;
the rate at which the bonds were issued.
obrestno mero, po kateri so bile izdane obveznice.
Based on the information available at the time, the Commission viewed the revenue growth forecasts as over-optimistic, given competition on the ship repair market (the company's core business), potential overcapacity and the economic crisis.
Komisija je na podlagi takrat razpoložljivih informacij menila, da so napovedi o povečanju prihodkov preveč optimistične glede na konkurenco na trgu popravila ladij (ki je glavna dejavnost družbe), možnost prekomerne zmogljivosti in gospodarsko krizo.
The Commission had doubts as to whether the risk associated with the sale of the land on which Nauta operated had been properly assessed by the IDA.
Komisija je dvomila, da je AIR pravilno ocenila tveganje v zvezi s prodajo zemljišča, na katerem je družba Nauta posluje.
The urban development plan which classified the land as ‘industrial’ or ‘commercial’ had not been adopted and the duration of the adoption process had not been duly taken into account.
Urbanistični načrt, v katerem je bilo zemljišče opredeljeno kot „industrijsko“ ali „komercialno“, ni bil sprejet in trajanje postopka sprejetja se ni ustrezno upoštevalo.
Therefore the Commission questioned whether the assumed ‘commercial’ value of the land (PLN [> 168] million) was justified.
Zato je Komisija dvomila, da je domnevna „komercialna“ vrednost zemljišča (v višini [> 168] milijonov PLN) utemeljena.
As the process of adopting the urban development plan was not complete, a private investor would probably be more conservative in assessing the value of the land.
Ker postopek sprejetja urbanističnega načrta ni bil zaključen, bi bil zasebni vlagatelj pri oceni vrednosti zemljišča verjetno bolj zadržan.
The Commission was also concerned that the IDA had accepted rather optimistic assumptions concerning the value of Nauta’s assets used as collateral for the bonds.
Komisija je bila zaskrbljena tudi zaradi tega, ker je AIR sprejela precej optimistične predpostavke glede vrednosti sredstev družbe Nauta, ki so bila uporabljena kot zavarovanje za obveznice.
Although the only pre-transaction valuation amounted to [PLN > 168 million], post-transaction valuations (in 2010 and 2011) had estimated the value to be within the range of PLN [70-90] million to PLN [140-160] million, depending on land use.
Na podlagi edine ocene pred transakcijo je vrednost zemljišča znašala [> 168 milijonov PLN], medtem ko je na podlagi ocen po transakciji (leta 2010 in 2011) znašala med [70–90] milijoni PLN in [140–160] milijoni PLN, odvisno od njegove rabe.
The actual annual interest rate of 5,28 % offered for the bonds appeared to be low.
Zdelo se je, da je bila dejanska letna obrestna mera 5,28 %, ki je bila ponujena za obveznice, nizka.
The Polish authorities did not provide a credit rating for Nauta and did not specify the level of collateral within the meaning of the Communication from the Commission on the revision of the method for setting the reference and discount rates [10] (‘the reference rate Communication’).
Poljski organi niso zagotovili bonitetne ocene družbe Nauta in niso navedli stopnje zavarovanja v smislu Sporočila Komisije o spremembi metode določanja referenčnih obrestnih mer in diskontnih stopenj [10] (v nadaljnjem besedilu: sporočilo o referenčnih obrestnih merah).
According to that Communication, the margin applied to the bonds corresponded to a ‘high’ collateralisation and at least a ‘good’ (BBB) rating of the company.
Na podlagi navedenega sporočila je razlika, ki je bila uporabljena za obveznice, ustrezala „visokemu“ zavarovanju in vsaj „dobri“ bonitetni oceni (BBB) družbe.
The Commission questioned whether this was a faithful reflection of the situation.
Komisija je dvomila, da je to izražalo dejanske razmere.
While the opening decision noted the higher interest rate applied and the additional collateral provided under the new contract, the Commission did not have sufficient information on the business rationale for extending the maturity of the bonds by 2 years.
Medtem ko je bil v sklepu o začetku postopka poudarek na višji obrestni meri, ki je bila uporabljena, in dodatnem zavarovanju, ki je bilo zagotovljeno na podlagi nove pogodbe, Komisija ni imela zadostnih informacij o poslovni logiki za podaljšanje zapadlosti obveznic za dve leti.
Therefore the Commission doubted whether this extension would have been accepted by a private investor.
Zato je Komisija dvomila, da bi zasebni vlagatelj sprejel to podaljšanje.
In their comments the Polish authorities provided clarifications and additional contemporaneous evidence for both measures.
Poljski organi so v pripombe vključili pojasnila in dodatne aktualne dokaze o obeh ukrepih.
THE FIRST MEASURE
PRVI UKREP
As regards the doubts concerning the acquisition of the bonds by the IDA at an actual annual interest rate of 5,28 %, the Polish authorities provided additional information, including forecasts for Nauta’s financial results, the prospects for the ship repair market and the value of Nauta’s assets to be sold.
V zvezi z dvomi glede nakupa obveznic s strani AIR po dejanski letni obrestni meri 5,28 % so poljski organi zagotovili dodatne informacije, vključno z napovedmi za finančne izide družbe Nauta, možnostmi za trg popravila ladij in vrednostjo sredstev družbe Nauta, ki naj bi se prodala.
The Polish authorities also submitted an ex post private investor test conducted by […].
Poleg tega so predložili tudi naknadni preskus zasebnega vlagatelja, ki ga je opravil […].
Optimistic assumptions regarding an increase in revenues
Optimistične predpostavke glede povečanja prihodkov
The Polish authorities argued that the purchase of Gdynia Shipyard's assets was based upon the real business needs of Nauta and had been preceded by a proper business plan, prepared by Nauta's management board with the participation of an independent consultant.
Poljski organi so trdili, da je nakup sredstev ladjedelnice Gdynia temeljil na resničnih poslovnih potrebah družbe Nauta in sledil ustreznemu poslovnemu načrtu, ki ga je ob sodelovanju z neodvisnim svetovalcem pripravil upravni odbor družbe Nauta.
Poland claimed that the business plan submitted to the Commission clearly demonstrated the profitability of the investment.
Poljska je trdila, da je iz poslovnega načrta, ki je bil predložen Komisiji, jasno razvidna dobičkonosnost naložbe.
With regard to the optimistic forecasts of growth in Nauta’s sales revenue, the Polish authorities pointed out that despite the decreasing profitability of Nauta, it was still making a profit, had positive return on equity (ROE), return on sales (ROS) and return on assets (ROA) and significant cash reserves, and did not use interest-bearing debt.
V zvezi z optimističnimi napovedmi, da bo družba Nauta povečala svoje prihodke od prodaje, so poljski organi izpostavili, da je družba Nauta kljub manjši dobičkonosnosti še vedno ustvarjala dobiček, da je imela pozitivno donosnost lastniškega kapitala, donosnost prodaje in donosnost (celotnih) sredstev ter velike denarne rezerve in da ni imela dolgov z obrestmi.
Poland also provided more information on the ship repair market, for which the outlook was positive in its view.
Poljska je prav tako zagotovila več informacij o trgu popravila ladij, za katerega so bile možnosti po njenem mnenju pozitivne.