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Housing Budget Cut May Cost 11,000 Jobs

June 13, 1980
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An agreement has been reached between the Treasury and the Housing Ministry calling for a 12 percent cut in the ministry’s budget. An official announcement said that the cuts would not affect new housing construction. However, analysts predicted that the reduction of the housing budget by more than IL 3 billion would result in the dismissals of over 11,000 construction workers and would set off a chain reaction in other trades. The cost of housing can be expected to rise because there will be fewer construction starts, the analysts said. (By Yitzhak Shargil)

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