The Israel Government has invested some 20, 000,000 pounds in housing projects, part of which will be returned to the government when the new owners move in and put down a large down payment, it was reported here today by Barclay’s Bank’s monthly review of foreign trade.
The review noted that it cost an average of 5, 250 pounds to build a housing unit in Israel. The purchasers are granted 15-year mortgages, averaging 2,350 pounds, the review said.
Commenting on Israel’s local cigarette industry, the same issue of the review reported that in the last year local cigarette production had doubled to a total of 2, 013 metric tons, nearly all of which was sold in the local market. A large proportion of the Turkish tobacco and about one-third of the Virginia tobacco used in Israeli cigarettes is grown locally, the report added.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
