Yosef Almogi, chairman of the Jewish Agency and World Zionist Organization Executives, declared this afternoon that Israel’s economic problems and financial needs must receive top priority, adding that “an economic crisis is no less dangerous than a political or military crisis.”
Addressing a special luncheon meeting of more than 100 New York leaders of the Israel Bond Organization at the Plaza Hotel, Almogi warned that a lack of investment funds to promote Israel’s recovery from the economic problems resulting from the Yom Kippur War would lead to unemployment.
“A country that depends on aliya cannot afford unemployment,” he said. “A country that must bridge an enormous gap of close to $4 billion in its balance of payments cannot afford unemployment. For these reasons, our economic problems and our financial needs must be our chief concern and number one priority.”
Almogi expressed the hope that American Jewry would extend increased support to the Israel Bond Organization, which is the major source of funds for economic development, and to the United Jewish Appeal, which provides for the reception and the absorption of immigrants and other social needs. He emphasized that “this is a time when our economic and social needs have reached an unprecedented peak.”
Jack D. Weiler, secretary-treasurer of the Israel Bond Organization and national president of its Prime Minister’s Club, presided at the luncheon. Other speakers were Michael Arnon, president; Stephen Shalom, general chairman of the New York campaign; and David H. Zysman, its director.
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