Jewish Agency Treasurer Stresses Impact of Peak Immigration on Budget
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Jewish Agency Treasurer Stresses Impact of Peak Immigration on Budget

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Arye Pincus, treasurer of the Jewish Agency, told the World Zionist Actions Committee today that the 1963-64 Agency budget totaling 375,000,000 pounds ($125,000,000), reflected the impact of peak immigration now in its third year.

Ten percent of the budget, he said, would be allocated for production in Israel. “I make this point so you and the entire Jewish people should know how important we consider this problem,” he declared. He expressed the hope that, during the coming year, special means be devised to obtain more funds for this specific purpose.

According to anticipated income figures in the new budget, there will be a substantial deficit which, Mr. Pincus said, will largely be covered by long-term loans. During the past 14 years, the Agency spent $1,500,000,000 which at the beginning of the next fiscal year will leave the Agency with a $180,000,000 debt.

Twenty-four percent of the 1963-64 budget will be spent on agricultural settlement, 30 percent on immigration and absorption, including Youth Aliyah, 22 percent on housing, seven and a half percent on activities in the Diaspora, and eight percent on education.

Mr. Pincus noted that in the 1962-63 budget, real income, excluding loans, fell short by $10,000,000 of initial estimates. Campaign increases were registered in England and Canada, which, however, did not offset losses in South America and South Africa. In the United States, he said, the campaign did not come up to expectations and the Keren Hayesod in the rest of the world was finding it difficult to hold ground.

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