Search JTA's historical archive dating back to 1923

The Israeli Scene

September 30, 1975
See Original Daily Bulletin From This Date

New York’s financial problems have their counter-part in Israel. Amikan Shapira, spokesman for the municipality of Tel Aviv has reported that the city is constantly in the red and currently lacks IL 15 million each month to come out even. These deficits, he noted, can only grow as the city’s financial situation goes steadily from bad to worse. The chief problem is the mounting price of goods and services. The city has already had to take out commercial bank loans each month in order to pay its employes, Ironically, Shapira added, the government owes Tel Aviv more than IL 40 million and “has failed to turn over those sums promised many months ago.”

Recommended from JTA