NEW YORK (May. 27)
Increased agricultural production, industrial expansion and the discovery of natural resources in the Negev are helping Israel to round the corner of economic security, although many difficult days still lie ahead, Mrs. Rose Halprin, acting chairman of the Jewish Agency, stated today on her return from Israel.
Mrs. Halprin, who heads the Jewish Agency’s economic department in the United States, reported that the general economic picture in Israel is improving. Agriculture and agricultural output is expanding due to U.J.A. dollars, bond sales and also to the Export-Import Bank loans. There has been a notable rise in the production of industry where many Americans have invested both manpower and money, she said. Valuable natural resources, particularly phosphates, have been discovered and are being exploited.
She warned, however, that Israel’s economic problems are still far from solved. Within the next few months a difficult period may arise due to a shortage of dollars for which Israel depends largely upon the U.J.A. bond sales and private investments. Mrs. Halprin added that “American know-how is already making itself felt in the industrial development of Israel.”