Finance Minister Yitzhak Modai presented a $21.6 billion budget to the Knesset Monday for the next fiscal year. It is about $550 million under the budget for the current fiscal year and is aimed at stabilizing the economy. There are no provisions for renewed economic growth. In presenting the proposed budget, Modai hailed the rapid decline of inflation which he said had no precedent anywhere in the world. The government intends to keep inflation at its present rate, a maximum of two percent per month, Modai said. He said this was the achievement of the entire people.
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