Israel’s 145,000,000 pound development ### was introduced in Parliament today by Finance Minister Levi Eshkol who out ### the country’s economic achievements and emphasized the progress made dur### year in industry and agriculture.
“We have already passed half way to our economic independence,” he said ### the second half of the way is more difficult and we will have to tighten our b### make headway.”
The economic policy of the Israel government aimed at liquidating inflat### stabilizing the economy of the state, the minister declared. “We achieved t### objectives to a great extent by easing new emissions, limiting credits, bala### budget, and introducing a dollar-rate nearer to the market’s reality. Also ### decrease in imports, increase in exports and stabilization of prices.”
Pointing out that the investments made “are already beginning to show re### Mr. Eshkol said: “The tent has already disappeared from Israel’s horizon. ### building schemes are providing dwellings for tens of thousands of old reside### well as for newcomers. However, because of lack of foreign currency, buil### activities in the country will have to be curtailed. On the other hand, the go### ment will increase expenditure on enterprises which bring immediate result ### the first line are agriculture and irrigation.”
Mr. Eshkol reported that as a result of the progress made in agriculture ### has become virtually self-sufficient in vegetables and other agricultural pro### except wheat. It has also reached a point of “modest self-supply,” in eggs ### milk. At the same time, he said, the export of citrus has increased.
“No less striking is our industrial development,” Mr. Eshkol continued. ### industrial output last year reached 200,000,000 pounds, which is one-fourth ### national income. A total of 288 new enterprises has been established during ### with an investment of 20,000,000 pounds and 31,000,000 dollars. Neverthe### are still in the first stages of our industrial development. Our industrial e### amounted to 10,000,000 pounds in 1952.”
The minister expressed hope that foreign investors would be interested ### the government is now developing for establishment of a chain of chemical in### which, he said, will bring millions of dollars profit annually. He also reve### oil drilling “has entered its practical stage,” in Israel, and that the first d### will be started next month.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
