Israel will resort to deficit financing to maintain the country’s economic growth while keeping prices stable even though it means an unbalanced budget. The Knesset gave a final reading last week to the budget for the next fiscal year which amounts to more than 2.30 billion. The sum was about $140 million higher than the budget originally proposed two months ago. The increase was attributed to rising defense costs and an increase in anticipated immigration. Administration of the occupied Arab territories will cost Israeli taxpayers about $40 million during the new fiscal year.
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