The Economic Ministers Committee approved last night a foreign currency budget of $795,000,000 for 1961-62. The new budget was $110,000,000 higher than the 1960-61 budget but it was only $55,000,000 higher than actual income and expenditures in foreign currency during the 1960-61 period.
Foreign currency income had been greater in several areas than had been anticipated when the 1960-61 foreign currency budget was prepared. A total of $250,000,000 was received in export earnings, compared with an anticipated return of $215,000,000. “Invisible” exports brought in $115,000,000 instead of the anticipated $100,000,000. Investments yielded $75,000,000 instead of the anticipated $65,000,000.
The 1961-62 budget indicated that a decrease was expected from the United States Development Loan fund income and in food surplus aid. A slight increase in expenditures also was forecast. Services and Government needs will require $207,000,000 instead of $195,000,000; and $115,000,000, rather than $100,000, will be required for the import of raw materials to be used in manufacture of finished products for export.
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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.
