Israeli officials here today deflated as “gross exaggerations” an Arab League report, issued yesterday, claiming that the Arab boycott had inflicted very severe damage on the Israeli economy during 1960.
The League report claimed that, as a result of the boycott, 300 companies and 270 ships ceased trading with Israel in 1960, alleging that, as a result, 150 Israeli factories had “closed down. ” The report further stated that Israel spent $20, 000, 000 fighting the boycott and suffered losses amounting to $70, 000, 000.
Terming the League report “a pipe-dream, ” officials here said today that Israel’s expenditures on fighting the boycott were actually one-tenth of one percent of the amount claimed by the Arab League. “The veracity of the entire report, ” the Israelis said, “may be evaluated at the same ratio. ” However, the Israelis said, the boycott is indeed harmful and must be fought vigorously.
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