Deputy Finance Minister Zvi Dinstein rejected today any suggestion that the Israeli pound should be devalued again, asserting that such a move would have no practical value and would not improve the situation. He stressed that a devaluation move was not under consideration in official Israeli quarters.
Mr. Dinstein declared that devaluation of the Israeli currency or an increase in taxes would have a greater deterrent effect on investment in Israel than fears about the security situation. He said what should be done to narrow the trade gap and cut Israel’s adverse foreign trade balance would be to reduce imports, increase exports and diminish the increase in private consumption in Israel.
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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.
