Israel is successfully combatting inflation, David Horowitz, director general of the Israel Ministry of Finance, last night told a public gathering here.
Listing the chief causes of inflation as immigration, security spending and housing expenditures, Mr. Horowitz said that the inflation was being brought under control by balancing the budget, controlling distribution, greater savings and the restricting of credit. He revealed that in the first quarter of 1951 exports yielded 3,700,000 pounds in foreign exchange as compared with 1,800,000 pounds for the corresponding period of last year.
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