Israel Cabinet Approves $305,000,000 Foreign Currency Budget

The Israel Cabinet today approved a foreign currency budget from the fiscal year July 1, 1952, to June 30, 1953, for $305,000,000.

The main sources of income of the foreign currency budget are: $72,000,000 from American grants-in-aid; $65,000,000 from German reparations; $48,000,000 from the Israel bond issue in the United States; $41,000,000 from the United Jewish Appeal and ### from exports and re-exports.

The major item of expenditure is foreseen as $62,000,000 for the importation of fund. An additional $19,300,000 will be set aside for further food purchases in the even they resume necessary to maintain the present level of food rationing. A net profit of ### is expected from exports and re-exports of partly finished goods which are ### into the country for further processing.

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