Pinhas Sapir, Minister of Commerce and Industry, unveiled today a six-year program for the industrial development of Israel which envisages doubling production, trebling industrial exports, and cutting the country’s trade deficit to under $150,000,000 by 1970.
Mr. Sapir said that the attainment of these goals depends on the prospects of the defense expenditures not exceeding the average for the past five years, and on cutting the increase in personal consumption to three per cent annually from the current annual rate of six per cent. The plan is based on a population increase of 500,000 and on a corresponding increase in the labor force to over 1,000,000 by 1970.
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