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.
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.
