Israel’s gross national product increased by more than 11 per cent in 1962, according to figures released here today by the Government’s Central Bureau of Statistics. In view of a population rise during the year of four and one-half per cent, however, the per capita increase in the gross national product was about seven per cent. Personal consumption also increased at the same rate.
The figures showed that the purchase of durable goods such as automobiles and refrigerators increased by 26 per cent while general food consumption rose eight per cent. Industrial production recorded a 15 per cent rise, construction 18 per cent and agriculture 11 per cent.
Investments, according to the figures, increased by 11 per cent. During the year, the Government Investment Center gave approved status to 315 enterprises with total capitalization of $173, 000, 000 and 85, 000, 000 pounds ($23, 300, 000). This compares with 453 approved enterprises in 1961 with total capitalization of $158, 000, 000 and 156, 000, 000 pounds ($52, 000, 000). Approved enterprises are given tax concessions and other special benefits.
(An economic outlook for 1963 for Israel somewhat less bright than it was for 1962 was reported today in a survey compiled by the McGraw-Hill Publishing Company’s Department of Economics, based on reports from abroad. Major problems, according to the forecast, would continue to be inflation and balancing international payments.)
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