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Israel’s Top Priority Said to Be Reduction of Foreign Trade Deficit

March 2, 1984
See Original Daily Bulletin From This Date

Moshe Mandelbaum, Governor of the Bank of Israel, said today that Israel’s top economic priority was to reduce its foreign trade deficit. The fight against inflation also must not be neglected, he told a delegation of the International Monetary Fund.

The IMF delegation is on its regular annual visit to prepare a report on Israel’s economy. Mandelbaum said that reduced public demand and the general slowdown of the economy stemmed from the fact that the public has lost about 30 percent of its monetary assets in recent months. It is time for the government to implement its planned budget cuts, he said.

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