The Ministerial Economic Committee submitted to the Israel Cabinet today a draft budget for 1956-57 totalling 850 million pounds (about $472 million), as compared to 790 million pounds for the past year. The budget will be submitted to the Knesset, probably next month, after it receives Cabinet approval.
Actually, the new draft budget calls for less than the current total, since the current budget was increased, by an undisclosed amount, through additional expenditures for defense purposes. The proposed budget includes development expenditures, the financing of which is partially dependent on the availability of funds from abroad.
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