THE DETROIT JEWISH NEWS
Friday, October 21, 1983 39
Finance Minister Named in Midst of Economic Turmoil •
the Herut youth move-
ment. He was elected to
the Knesset in 1977. In re-
cent months he has been
an outspoken critic of the
economic policies of
Aridor, a Herut col-
league, and was rebuked
at a meeting of the Herut
Central Committee for
the sharpness of his lan-
guage.
Cohen-Orgad added the
name Orgad when he ran
for the Knesset because an-
other MK had the name Co-
hen. Orgad is an acronym
for the names of his chil-
dren: Orli, Ronen, Gilat and
Dror.
In a recent radio inter-
view, Cohen-Organ called
for a "social contract" be-
tween the government, His-
tadrut and private em-
ployers. He said if such a
pact did not materialize, it
was the government's duty
to go ahead with the process
of economic recovery.
The main economic goal
of the government, accord-
ing to Cohen-Orgad, is re-
newed economic growth "on
the basis of a healthy eco-
nomic infrastructure." He
proposed that people with
the highest incomes bear
JERUSALEM (JTA) —
Yigal Cohen-Orgad, a 46-
year-old Herut Knesset
member, was named Is-
rael's new Minister of Fi-
nance on Monday, replacing
Yoram Aridor who resigned
last Thursday.
Cohen-Orgad, who holds
a bachelor degree in eco-
nomics and heads the Likud
caucus in the Knesset Fi-
nance Committee, is a polit-
ical hawk, an admirer of the
Gush Emunim and has a
home and business interests
in the West Bank. Like
Shamir and Defense Minis-
ter Moshe Arens, he op-
posed the peace treaty with
Egypt and was one of the 18
Knesset members who
voted against it in 1979.
His appointment to the
Cabinet raised a political
storm in Likud's Liberal
Party wing which had its
own candidates for the
Treasury post — Energy
Minister Yitzhak Modai or
Commerce and Industry
Minister Gideon Patt.
Cohen-Orgad was born
in Tel Aviv in 1937, the
son of immigrants from
Poland. His father was in
the lumber business. He
was a member of Betar,
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the heaviest tax burden and
should receive reduced
cost-of-living increments.
But he opposed any cuts
in Dollar and C.o.1.-linked
savings accounts, shelters
for the more affluent sec-
tors.
With the appointment
of Cohen-Orgad appar-
ently final, Shamir may
try to appease his Liberal
coalition partners with
another senior Cabinet
post, such as the Foreign
Ministry which he re-
tained after becoming
Prime Minister. Energy
Minister Yitzhak Modai
is known to want that
portfolio. But it is also
sought by his Liberal col-
league, Deputy Premier
David Levy.
Shamir admitted this
week that he had
threatened to resign if
Cohen-Orgad's appoint-
ment was not supported.
About one million wage-
earners and salaried work-
ers, virtually the entire
labor force of Israel, staged
a two-hour strike Sunday to
protest the government's
economic policies. The
strike, called by Histadrut,
was 100 percent effective,
inasmuch as it was observed
by all branches of labor and
professionals regardless of
party affiliation.
The consumer price index
for September, published
Friday, showed a nine -per-
cent increase, a record high
for that month. During the
first two weeks of October,
the price of government
subsidized food products,
fuel and other consumer
items rose by 50 percent and
the cost of imported goods
by 23 percent, equal to last
week's devaluation of the
Shekel.
Inflation in October is
expected to soar to a rate
of 16-20 percent, an un-
precedented high for a
single month. The next
cost-of-living increments
will not be paid until
January. Economists ex-
pect the inflation rate for
all of 1983 to be as high as
190 percent or even
higher. Prices rose by
86.8 percent during the
first nine months of the
year.
Based on Israel's pre-
devaluation inflation rate of
131 percent, the Interna-
tional Labor Organization
in Geneva said Israel had
the third highest inflation
rate in the Western world,
behind Bolivia's 296.5 per-
cent and Argentina's 209.7.
The wildly soaring infla-
tion and the absence, at this
time, of any firm govern-
ment plan to deal with it, set
the stage for Sunday's
strike and gave the trade
union federation a chance to
show its muscle.
Histadrut Secretary Gen-
eral Yeruham Meshel
stressed that the strike was
not against Aridor himself
but against the Likud gov-
ernment's policies which, he
charged. eroded workers'
incomes while protecting
the interests of the well-
do-do who were able to buy
foreign currencies with cash
raised by the sale of their
bank shares.
Civil servants, most
factory workers and
others struck from 2-4
p.m. Teachers, electrical,
workers and profession-
als stopped work for two
hours at other times of
the day. The railroads,
parts and airports, postal
services, radio and tele-
vision were paralyzed for
the duration of the
walk-out.
The small National
Trades Union, founded by
Herut, appealed to its mem-
bers not to strike against
the government but its call
was largely unheeded.
Workers at the port of
Ashdod, a stronghold of
Likud voters in the last two
national elections, struck
for the full work day and
were joined by the work
forces at factories in the
Ashdod area who felt that a
two-hour stoppage was not
sufficient to reflect their
protest and anger.
Aridor resigned his office
after his plan to link Israel's
currency exclusively to the
U.S. Dollar created a storm
of protests when it was
leaked by an aide to the
newspaper Yediot Ahronot
last Thursday morning. The
aide, Ezra Sadan, director
general of the Finance
Ministry, was castigated by
Likud for leaking the pro-
posal, apparently before it,
was brought before Shamir.
The new premier, who
has been trying to cope with
the economic crisis almost
from the moment he was
sworn in last week, appar-
ently hoped to persuade De-
puty Premier David Levy to
take the Treasury portfolio.
Levy flatly refused and in-
sisted that his decision was
final.
The continued shutdown
of the Tel Aviv Stock Ex-
change, now in its second
week, is having a ripple ef-
fect on business. Investors,
unable to liquidate shares,
are finding themselves
short of cash. Their cre-
ditors, with bills due, refuse
to accept checks that may
bounce.
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