Finance Minister Simcha Ehrlich presented on IL 304 billion budget for the fiscal year 1979-80 for Knesset approval yesterday. The new budget is about 45 percent higher that this year’s, which was IL 208 billion.
It anticipates a 38 percent rise in the cost of living during 1979. Food and public transportation subsidies will rise by 75-100 percent. Communications fees will go up 44 percent after April. The Cabinet Sunday reversed on earlier decision to increase the price of electricity, following an appeal by Commerce and Industry Minister Gideon Patt. Patt argued that the rise jeopardized manufacturers’ efforts to increase exports.
Following another appeal by Absorption Minister David Levy, the Cabinet reversed a decision to raise the price of frozen meat by 25 percent and decided to control the price of meat, limiting the rise to seven percent.
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