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Cost of Living in Israel is Down 7(1/2) Percent, Ampal Official Says on Return to N.Y.

Abraham Dickenstein, managing director of AMPAL — American Palestine Trading Corporation — upon his return today from a visit to Israel reported that “the current austerity program has lowered the cost of living in the Jewish state by seven and a half percent while the black market has been completely eradicated.”

“The encouragement of new capital investments in the recently formed country is one of the most important aspects of the increasingly difficult problem of immigration,” he stated. “The absorption of immigrants into the economy of the country depends largely on the speed and extent of the development of new industries, limited consumption in the country as a whole with a corresponding increase in production.”