The Cabinet yesterday approved supplementary Government expenditures totaling 118,000,000 pounds ($66,080,000) over and above the 1961-62 budget. Finance Minister Levi Eshkol will ask the Knesset tomorrow to approve the additional expenditures which were made necessary in part by the Government’s accelerated program to house new immigrants.
Prime Minister David Ben-Gurion, who was scheduled to report to yesterday’s Cabinet meeting on his two-week visit to Burma, did not attend the meeting after doctors ordered him to remain in bed for several days because of a cold.
The formation of an Economic Planning Authority was approved today by the Ministerial Committee and will begin operating this week under the direction of David Kochav, former head of the research department of the Bank of Israel.
The Planning Authority, which will be responsible to the Minister of Finance in cooperation with other ministries concerned, will be charged with drafting Israel’s economic plan for the next four or five years, and will formulate each year a forecast of the gross national product and the national income for the coming 12 months.
The Authority will also advise the Finance Ministry and other Government departments on a wide range of problems, including foreign trade relations and Israel’s relations with the European Common Market.
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