While “substantial progress” has been achieved in agricultural production and exports in Israel, “it cannot yet be ascertained to what extent the basic difficulties facing the economy of Israel have been solved,” a United Nations report on the economy of Israel declared today.
The study, a “Summary of Recent Economic Progress in the Middle East,” listed as the “most acute” of these problems the inflationary pressure, the deficit in the balance of payments, and the requirements for development in agriculture and industry. The report also noted that there was an improvement in the balance of trade but the situation in this respect “remained serious.”
There was an easing of the powerful inflationary pressures which made themselves felt in 1951 and at the beginning of 1952, the report found. Prices, however, continued to increase, though more slowly, and the exchange value of the Israeli pound was again reduced in 1953.
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.
