A delegation of the International Monetary Fund that recently visited Israel had high praise for the way the Government handled the country’s economic difficulties last year, it was learned today.
In a report to the Fund’s executive, the delegation stated that Israel’s economy remained stable last year despite the dislocations caused by the June war. The report attributed this to slow-down measures taken in 1966 which put a brake on a too rapidly expanding economy thereby reducing the dangers of inflation. The report said that the suffering caused by reduced production and increased unemployment was offset by the foundations laid for renewed growth. It stated that very few countries had succeeded to the same extent in achieving economic stability.
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