The American $100,000,000 loan to Israel has hampered the development of the country and has paralyzed the Israel Government’s initiative, Dr. Moshe Sneh, Mapam leader, today charged in Parliament.
Dr. Sneh demanded that the government nationalize all economic resources and large industry as well as enforce more vigorously measures which will give it “effective control over production, exports and imports.” Commenting on a statement last week by Finance Minister Eliezer Kaplan detailing government plans for spending an anticipated second American loan, the Mapam deputy said that American capital has “disappointed” Israel and will continue to “disappoint” the Jewish state.
Referring to the general economic condition of the country, he stated that the national debt has reached the sum of 60,000,000 pounds ($168,000,000) since the establishment of the state. In addition, the nation’s economic deficit is 170,000,000 pounds, he insisted.
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