Israel is in economic difficulty today because she has attempted to telescope a half century’s economic development into a decade, without limitation, David Horowitz director of the Israel National Bank, told the Anglo-Israel Chamber of Commerce here today.
There is a reasonable expectation that Israel will yet win its race against time. Mr. Horowitz asserted. He noted that in 1949 Israel only covered 12 percent of its imports with exports, while now the figure is close to 25 percent. By 1963, Mr. Horowitz predicted, Israel will have doubled her citrus exports and be self-sufficient in cotton.
Passover may be over, but your chance to support independent Jewish journalism isn't. Help JTA keep reporting the stories that define our era.
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.
