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September 16, 1977 - Image 16

Resource type:
Text
Publication:
The Detroit Jewish News, 1977-09-16

Disclaimer: Computer generated plain text may have errors. Read more about this.

16 Friday, September 16, 1977 THE DETROIT JEWISH NEWS

Caricatures

for your arty

By

SAM FIELD

Calf

399-1320

Ehrlich Reports Begin Will Stress Free Market Economy

ATLANTA (JTA) — The
economic policies of the
government of Israel is to
place greater emphasis on
free enterprise and reduce
government of Israel are: to
major economic activites.
according to Simha Ehrl-
ich. Israel's finance min-
ister.
One of the principle aims
of the new government is to
phase out government coa-
ti- 01 and ownership of cer-
tain leading economic enter-
prises and to expand -goy-

ZIONIST REVISIONISTS of DETROIT
presents their community wide

JABOTINSKY EVENING

In Memory Of The Greatest Jewish Leader of Our Time

Young Israel Center
24061 Coolidge. Oak Park
Sat. Sept. 17, 9 p.m.

Guest: Member of Knesset Chaim Landau head of Israeli
delegation to the United Nations will speak about The Premier
Manahem Begin and The New Middle East Situation. Full
length Israeli Movie. Food and Drinks served at your Table.
Donation $3 per person. Students Free.
Wishing You All A Happy New Year
For information call Steven Goldin 968-5575

ernment ‘ participation in
building up the in-
frastructure for our econo-
my."
The minister's view of Is-
rael's economic problems
and policy was spelled out
in an address he delivered
last Friday at the opening
session of the 1977 Inter-
national Fall Leadership
Conference spQnsored by
the Israel Bond' Organiza-
tion at the Hyatt Regency
Hotel. This marked his first
public appearance in the
United States since assum-
ing the post of finance min-
ister in the new govern-
ment of Israel.
Ehrlich asserted that his
government would seek "to
abolish as far as possible
all restrictions and controls
on the economy," adding
that it plans "to adopt our
economic structure to the
pattern of the American
economy in keeping with
the special circumstances
prevailing in Israel."
The finance minister
placed a high priority on
private initiative and the
need for a greater volume
of private investment. At
the same time he stressed
that Israel Bonds have been
a major financial in-

71,n1n

=TIMM tnn:ri

The Directors And Officers Of

The Crown Life Insurance Company

In Toronto, Canada

Join With

The Detroit Center Agency

And Their Many Agents And Associates

In The State of Michigan

To Wish

Policyholders, Clients And Other Friends

The Very Best Wishes

For A Healthful And Prosperous

Happy New Year

New Address:
21700 Northwestern Hwy. suite 850
New phone: 559-6660

I

SIMHA EHRLICH
strument in providing capi-
tal for development.
While a great deal has
been accomplished, the
basic problems have not
changed, Ehrlich declared.
Israel is still only a small
state, poor in natural re-
sources, fighting a boycott.
and carrying a heavy secu-
rity burden, he stated.
Major economic problems
are a huge balance of pay-
ments deficit and a high
rate of inflation. Last year
the deficit was reduced by
$800-million but that still
left a gap of more than $3-
1/4-billion.
A further reduction in the
deficit depends on a sub-
stantial rise in -exports,
which, he noted, increased
five-fold since 1968—from
$1.1 billion to an estimated
$5.3-billion in 1977. He
added that agreements Is-
rael signed with the Eu-
ropean Common Market
and the U.S. government
have opened up unusual op-
portunities for enlarging
the volume of Israel's ex-
port trade.
To reduce inflationary
pressures, Ehrlich reported
the government has made
cuts amounting to 7 billion
Israeli pounds in its current
budget. This was done by re-
ducing subsidies on basic
items of food, freezing the
civil service and cutting de-
fense spending.
Another problem is the
temporary halt in economic
growth. In the past the an-
nual rate of growth in the

national product was 8 per-
cent to 9 percent. Over the
past three years. this rate
has dropped to 1 percent to
2 percent a year. The slow-
down threatens Israel's abil-
ity to absorb immigrants,
reduces the ability to carry
a greater share of the secu-
rity burden. and makes it
more difficult to increase
exports and solve social
problems, Ehrlich declared.
These problems dictate
the main objectives of the
government's economic poli-
cies: to reduce economic de-
pendence by reducing the
current deficit in the bal-
ance of payments; to re-
duce inTlationary pressures
and the rise in prices; and
ro return as soon as pos-

— If thou art a mighty
man, here is the bear; get
up and kill him.
—The Talmud

SAM
BARNETT

AND HIS ORCHESTRA

968-2563

HAPPY NEW YEAR

From

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appointment preferred

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REGULARLY $33.95

Israeli Children
`Adopt' Elderly

NEW YORK—The stu-
dents at Beth Marpe Gram.
mar School have "adopted'
the elderly patients at the
neighboring Lichtenstaedter
Hospital for the Aged in Tel
Aviv.
The youngsters present
skits, plays and other enter-
tainment for the patients.
The Lichtenstaedter Hos-
pital, a Women's Social
Service for Israel (WSSI) in-
stitution, provides medical
care for aged patients suf-
fering from chronic dis-
eases, orthopedic problems
and other illnesses. The 150-
bed hospital has a modern
physiotherapy unit and pro-
vides a full program of oc-
cupational and speech
therpy.

sible to rapid economic
growth.
The three-day conference
assembled more than 700
Jewish leaders from the
•.S. and Canada for the pur-
pose of planning an in-
tensive effort to provide in-
creased economic aid to Is-
rael through the sale of
State of Israel Bonds. Since
1951, Israel Bonds have pro-
duced $3.7 billion for the
country's industrial and ag-
ricultural development pro-
gram.

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