Israel is in a “much stronger position” economically today than it was a year ago, the Senate Foreign Relations Committee was told today by Harold E. Stassen, director of the Foreign Operations Administration. Mr. Stassen testified in support of the Administration’s Foreign Operations program for the coming fiscal year.
“During the past year,” Mr. Stassen said, “we have worked very closely with the Government of Israel in establishing improved techniques of assistance and greater stability in debt management and balance of payments arrangements. The economy of Israel is in a much better position today than it was a year ago.
“Israel,” he continued, “had acute economic problems inherent in the establishment of a homeland for hundreds of thousands of displaced, oppressed, and exiled peoples from Eastern Europe and other parts of the world.”
In the Near East, he reported, the continued tension between the Arab states and Israel has thus far prevented the carrying out of plans for coordinated economic development of water resources during the past year. The program in the Arab states, he reported, has placed “high priority upon water development including irrigation, well drilling and water spreading. Arab leaders have visited the United States to observe water conservation and water use methods.”
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.
