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No Deficit in Israeli Trade Balance for Eleven Month Period, Finance Aide Announces

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There was no deficit in the Israeli trade balance for the eleven months between July, 1948, and June, 1949, David Horowitz, director-general of the Israeli Finance Ministry, told a press conference.

He revealed that while Israel imported $159,000,000 worth of products and exported only $25,000,000 in goods, the difference was made up by the importation of foreign capital. He listed the United States as Israel’s chief supplier, with Britain second. Mr. Horowitz also said that food imports accounted for 30 per cent of the total, with-manufactured items totalling 55 per cent and raw materials 14 per cent.

He stated that only 50 per cent of the U.S. $100,000,000 loan has been allocated to date, and expressed the hope that a total of two-thirds of the loan will be made available before the end of the Israeli fiscal year, next April.

The Nazi destruction of $9,000,000 worth of Jewish property will be the subject of one of the main discussion at the forthcoming meeting of the World Jewish Congress which opens in Paris Thursday, W.J.C. leaders Dr. Arieh Kubowitski, Dr. Arieh Tratakower and I. Heftman today told newsmen here. The protection of Jews in Arab countries will also be discussed at the parley, they said.

About 55,000 immigrants will receive homes constructed by the national building corporation, Amidar, Dr. Israel Goldstein said today at Haifa. He is resigning as president of Amidar and will leave for the United States Tuesday. He discussed the construction by Amidar of 11,500 solid housing units and 6,000 wooden units near towns, villages and agricultural settlements all over the country.

A new children’s village named for Dr. Goldstein was dedicated today in the Jerusalem suburb of Katamon among a block of houses near Saint Simon Monastery. The village is being built with the help of the General Zionist “Constructive Fund.” Dr. Goldstein attended the ceremony.

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