Finance Minister Pinhas Sapir today explained the need for a new voluntary security loan to permit Israel to keep pace with Arab rearmament. In an interview published in the evening newspaper, Yediot Achronot, Mr. Sapir said “our people must recognize the fact that the war is not yet over and it costs a lot of money. Israel cannot permit itself to lag behind.” He said the security budget for the current fiscal year has been set at IL 2,2 billion ($628.5 million). Last June’s Six-Day War cost Israel IL 3 billion ($857 million) which must be paid up within three years. Mr. Sapir said.
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