Pinhas Sapir, Israel’s Minister of Finance, Commerce and Industry, expressed optimism this weekend that by the end of this decade, Israel will substantially overcome its “most burdening economic problem,” the trade gap between imports and exports. His observations were made during a luncheon meeting of the American-Israel Chamber of Commerce and Industry.
He indicated that the solution to the trade gap lies in the rapid development of Israel’s industrial capacity, and the expansion of its exports. He outlined a five-year industrial forecast which calls for doubling of industrial production and tripling of exports by 1970. In describing the industrial forecast for the years 1965-1970, Minister Sapir indicated that this was the second such projection, with the first one running through 1965.
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