The State Bank of Israel reported today that the $152,000,000 worth of farm products which Israel received during the past six years from the United States under its agricultural surplus program had a deflationary effect on Israel’s economy.
The report said that the American products were sold for pounds of which 160,000,000 ($89,600,000) were invested in development programs. The bank said that Israel could close its foreign trade gap in ten years if certain conditions were achieved.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
