The budget of the State of Israel will pass the one billion pound mark for the first time in the country’s history next year, it was learned here today when Levi Eshkol, Finance Minister, presented the draft of the 1957-58 document to the Cabinet.
The budget, which is predicated on an expenditure of 1,160,000,000 pounds in the next fiscal year, provides for new taxes on services–taxi fares, restaurant meals, electricity, etc. It also extends the coverage of sales tax.
The budget, which is about 190,000,000 pounds higher than last year’s, provides for a five percent increase to most ministries to meet the rise in the cost of living.
JTA has documented Jewish history in real-time for over a century. Keep our journalism strong by joining us in supporting independent, award-winning reporting.
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.
