Israel spent some 165,000,000 pounds ($91,500,000) for defense purposes in the last six months as a direct result of the Soviet-Egyptian arms deal. Treasury figures released today indicated.
The figures revealed that more than 116,000,000 pounds of the total was a deficit covered chiefly by loans from the state bank and by foreign currency receipts. Nearly 49,000,000 pounds was covered by voluntary contributions and special defense taxes. The deft, it spending had no important inflationary effect on the Israel economy because most of the purchase orders were placed abroad and paid for in foreign currency.
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