Finance Minister Levi Eshkol today introduced in Parliament the new Development Budget, calling for a total expenditure of 196,000,000 Israeli pounds. He called it a “very realistic” budget, emphasizing that the funds are needed because “we are racing against time, and urgently need to develop as speedily as possible all of the country’s resources, in order to achieve fullest economic independence.”
One third of the budget is allocated for agricultural development. Another third is earmarked for development of more trade and industry. “Trade and industry,” Mr. Eshkol told Parliament in presenting the budget, “have developed recently and have begun to occupy a central position in our economy. Nevertheless, considerable sums are still needed for adequate achievements, giving Israel the necessary competitive position in foreign markets.”
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