The Israel Government announced today a series of subsidies, retroactive to last February, for Israeli exporters who earn foreign currency. The subsidies were first granted last Summer when the government decided to withdraw price supports.
The basic subsidy came in the form of a 150 pruta increase for every dollar earned, bringing the rate to 2.65 pounds per dollar. Exporters who ship from Elath the new southern port, will receive a five percent premium to cover higher transportation costs, while manufacturers who ship to West Africa will receive an additional payment of 350 pruta, bringing their rate to three Israeli pounds per dollar.
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