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Jewish Agency to cut $45 million from its budget

The Jewish Agency for Israel will slash its budget by $45 million for 2009.

The group already has slashed 20 percent of its workforce since 2003, but more staff layoffs are in the offing.

The agency’s budget deficit was the result of the drop in the dollar’s value vis-a-vis the shekel — a trend that has reversed itself in recent weeks — and inflation.

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