Israel Budget for 1960 Will Total $852,000,000; Same As in 1959
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Israel Budget for 1960 Will Total $852,000,000; Same As in 1959

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Israel’s next budget, for the fiscal year beginning April 1, 1960, is expected to total 1,550,000,000 pounds ($852,500,000), the same as this year, according to advance reports confirmed here today by the Treasury Department.

If the budget stays at the present level, it will be the first time since Israel’s establishment that there will be no increase, as has been the practice every year until now.

It is the government’s policy to keep the budget down as part of the effort to stabilize the country’s economy. However, pegging the budget at this year’s level is expected to require considerable reduction of plans for the construction of low-cost housing as replacements for the “maabarot” or transit camps. The new budget will also eliminate transport subsidies as well as milk and other farm subsidies.

Next year’s budget will include, however, a 15 percent increase for the Ministry of Education, as well as a rise of 100,000,000 pounds ($55,000,000) in government subsidies for exports.

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