Israel’s Finance Minister Pinhas Sapir, met here today with William Gaud, administrator of the U.S. Agency for International Development. The meeting was described as a courtesy call, but it is believed that Israeli-American economic relations in the area of development were reviewed. Mr. Sapir this morning took part in the opening session of the World Bank conference here.
In an interview yesterday, Mr. Sapir predicted that Israel’s new austerity program would bring an increase in exports next year, rising to $600,000,000 from this year’s $465,000,000.
The Finance Minister, who is in the United States primarily to attend meetings of the International Monetary Fund and the World Bank, said the export gains would come from a rise in productivity of from 7 to 8 percent in industry, and from an expansion of output in chemicals, phosphates, potash, high-quality textiles, diamond and farm products.
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