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Cabinet Approves 1981-82 Budget

February 10, 1981
See Original Daily Bulletin From This Date

— The Cabinet yesterday approved a 206 billion Shekel budget for fiscal year 1981-2. There was only a brief discussion, and only Interior Minister Yosef Burg voted against the budget on the grounds that the local authorities were inadequately provided for. The budget was the first presented by Finance Minister Yoram Aridor. Basically the work on it was done under his predecessor Yigal Hurwitz, but Aridor did introduce some changes–such as a slight increase in defense spending.

Aridor said the budget was based on predictions of 120 percent inflation in the 1981 calendar year and a 98 percent inflation in fiscal 1981-2–a steady drop in inflation so as to hit the double-digit line by the end of the calendar year.

The 206 billion Shekel figure breaks down as follows: 60.9 billion for debt service; 63 billion for defense; 37.9 billion for subsidies, national insurance payments; 20.6 billion for civilian consumption; and 23.4 billion for investment. The Cabinet also approved an 8.6 billion Shekel supplementary budget for the current fiscal year, the third budget of the year.

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