Finance Minister Levi Eskil will present the 1960-61 budget estimates to the Keenest (Parliament) tomorrow, calling for estimated expenditures, during the next fiscal year, of 1,600,000,000 Israeli pounds ($893,000,000).
Good news was seen here for Israelis in the Finance Ministry’s plans to call for no increase in taxes next year. Instead, more efficient methods of collecting taxes is expected to show, during the coming fiscal year, an increase in revenue, totaling about 120,000,000 pounds ($67,200,000).
The budget will call for smaller expenditures than in the past for development projects, due to the fact that higher sums will have to be spent during 1960-61 for security, education and social welfare.
Receipts from German reparations are expected to remain at the same level as last year. Income from other foreign sources, including United States agricultural surplus and counterpart funds, are expected to decrease.
A supplementary budget will be presented by the Finance Ministry during the year. The added budget will draw on funds expected to be obtained from a World Bank loan, now pending, as well as from flotation of foreign loans for housing and shipping.
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