Finance Minister Yoram Aridor was scheduled to leave for the United States and a number of South American countries. In the U.S., he will meet with Jewish community leaders to discuss ways to help defray the cost of Israel’s “Peace in Galilee” operation. In South America, he will also meet with leaders of large Jewish communities.
Before leaving,. Aridor presented the Cabinet with proposals to cut state expenditures by 2.5 billion Shekels this year. The proposals called for reductions in the budgets of all the ministries, amounting to three percent, and an equivalent sum of cuts in subsidies for consumer goods.
The Knesset Finance Committee was expected to approve a 25 percent hike in postal and telephone rates, a 15 percent hike in electricity, and an increase of 10 to 15 percent in compulsory vehicle insurance.
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