Finance Minister Levi Eshkol today presented to the Cabinet the Government’s budget for the next fiscal year, beginning April 1, calling for expenditures totaling 1,850,000,000 Israeli pounds ($1,036,000,000). This is an increase of about 150,000,000 pounds ($84,000,000) over the current budget.
According to Mr. Eshkol’s figures, 40 percent of the total increase would be expended on the expansion of exports and the encouragement of foreign investments. The remainder of the increase would be devoted to various public services, particularly in the fields of education, health and general administration.
A total of 46,000,000 Israeli pounds ($25,760,000) will be allocated in next year’s budget for the Jordan irrigation project, it was reported here today. The sum, the largest amount ever allocated for the project, will finance the first stage of the plan, which will carry the Jordan River waters to the northern Negev and will be completed by the end of 1963. The allocation is 10,000,000 Israeli pounds ($5,600,000) more than the amount provided in the current budget and will make possible an acceleration of the project’s implementation.
Help ensure Jewish news remains accessible to all. Your donation to the Jewish Telegraphic Agency powers the trusted journalism that has connected Jewish communities worldwide for more than 100 years. With your help, JTA can continue to deliver vital news and insights. Donate today.
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.
