Jewish Agency to Assess Effect of New Economic Policy on Fundraising and Investments in Israel

The Jewish Agency is expected to begin discussions shortly assessing the effects the new economic order might have on fund-raising campaigns and investments in Israel. An Agency spokesman told the Jewish Telegraphic Agency, however, that no discussion will take place until the Agency’s treasurer, Leon Dulzin, returns from abroad.

According to various reports and estimates, the new economic policy might encourage more investments in Israel because the economy is no longer strictly regulated. It is also assumed that the new economic policy will have a beneficial effect on many potential immigrants in the West.

Absorption Ministry sources said they were not sure how the new policy will effect immigrants from the Soviet Union and Eastern Europe. Absorption Ministry officials held long sessions with Finance Ministry officials yesterday and today to study the new system and its repercussions on the Absorption Ministry.

Immigrants from the West who receive social security pensions in dollars will benefit considerably from the better exchange rate. Absorption Ministry sources said that the removal of controls on foreign currency accounts will decrease nervousness among potential immigrants about coming here with their accumulated dollars.

In any event, it seems that both in the Jewish Agency and Absorption Ministry, officials will “wait and see” how the new system works in order to have a better idea of its effects on immigrants, fund-raising campaigns and other Agency and world Jewish affairs.

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