The Israel Cabinet approved today a foreign currency budget of $577,000,000 for the fiscal year of 1957. The increase over last year of $55,000,000 in foreign currency expenditures, has been necessitated by security purchases and a rise in world prices.
The Treasury expects to cover the foreign currency budget through exports of goods and services totalling $200,000,000, receipts of $85,000,000 from the United Jewish Appeal and other institutions; $55,000,000 in Israel bond proceeds, $75,000,000 from German reparations, $50,000,000 in private transfers and individual compensation payments from West Germany, $25,000,000 in grants in aid from the United States and some $60,000,000 in French credits. The remainder will be made up by a large variety of small receipts.
Major expenditures of hard currency are expected to be: $294,000,000 for consumer goods; $100,000,000 for investment in development projects; $90,000,000 for raw materials to be turned into finished exports, and $38,000,000 in debt payments.
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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.
