44
Friday, March 29, 1985
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Israel Revises Economic
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Jerusalem (JTA) — The gov-
ernment scrapped the second eco-
nomic package deal that took ef-
fect last January and plans to re-
vert to an earlier strategy giving
it tighter control over prices.
The change of course was pre-
cipitated by the 13.5 percent rise
in the February price index, corn-
pared to only five percent the
previous month, an indication
that the package was not work-
ing.
The second phase had come
under sharp attack from Labor,
management and even Treasury
officials. Deputy Finance Minis-
ter Adi Amorai affirmed last week
that the original package deal
which imposed a total freeze on
prices, wages and taxes was much
more effective.
The original freeze was insti-
tuted for a three-month period,
November-January. It was re-
placed by the second package
which was to have been of eight
months' duration, allowing eased
up prices.
Now the government says it
will restore elements of the first
package. A total price freeze will
be introduced for five-six limited
periods and prices will be adjusted
at the end of each period to reflect
real costs. At present, prices in-
crease almost daily, consumers
are confused and inflation shows
signs once again of running out of
control.
Yisrael Kessar, a Labor MK
who is Secretary General of His-
tadrut, demanded last Wednes-
day that the Knesset force the
government to honor its commit-
ments to wage-earners under the
second package deal. He charged
that the Treasury was holding
back cost-of-living increments
which are overdue and said the
workers feel cheated.
It was in response to Kessar
that Amorai conceded that the
original freeze package had
worked better than the second
plan. The economic ministers,
meeting with Premier Shimon
Peres last week, also decided to
re-introduce speedy court action
against businessmen who inflate
their prices.
Peres also said that he is deter-
mined to avoid unemployment as
a means of curing the economy.
He told a Labor Party meeting
here that experts from the United
States and a team from the Inter-
national Monetary Fund (IMF),
which concluded its own study
here earlier this month, were im-
pressed by the fact that Israel is
the first country in the world to
fight inflation without resorting
to mass unemployment.
The jobless rate at present is
about seven percent, which many
Israeli leaders say is unacceptable
by Israel's standards.
In Washington, the Reagan
Administration said last week
that it plans to recommend addi-
tional aid to Israel over a two-year
period to help the Jewish state
carry out economic reforms, but
still has not decided what the
additional amount will total.
"Some transitional assistance
will be required," Richard Mur-
phy, Assistant Secretary of State
for Near Eastern and South Asian
Affairs, told the Senate Foreign
Relation committee's subcommit-
tee on the Near East and South
Asia.
"The amount, the rate by which
it will be dispersed, is the subject
of our continuing discussion with
the Israeli government."
Murphy's remarks came as he
was pressed by Sen. Paul Sar-
banes (D-Md.) on when the Ad-
ministration will make the deci-
sion on the economic aid for Israel
for the 1986 fiscal year.
The Administration has
recommended that military aid to
Israel be increased from the $1.4
billion it is getting in 1985 to $1.8
billion. But it has made no deci-
The jobless rate is
about seven percent,
which many Israeli
leaders say is
unacceptable.
sion on Israel's request that eco-
nomic aid be raised from $1.2 bil-
lion to $1.8 billion in 1986 and
that Isral get an $800 million
supplementary appropriation this
year.
At the outset of last Thursday's
hearing, Murphy stressed that Is-
rael will receive at least the same
$1.2 billion it is getting this year.
But he repeated the Administra-
tion's contention that Israel has
not made enough economic re-
forms to justify additional aid
from the U.S. He added that if Is-
rael does not now make decisions
that it considers "painful" it will
in the future have to take "dracon-
ion measures."
However, Murphy stressed that
the U.S. is not in "an adversary"
relationship with Israel but is
consulting with it. He noted the
recent meeting between the Ad-
ministration and Israel's Finance
Minister, Yitzhak Modai, and
that two American economists,
Herbert Stein and Stanley Fisher,
who are consultants to Secretary
of State George Shultz, have re-
cently returned from a visit to Is-
rael.
The House Foreign Affairs
Committee's Subcommittee on
Europe and the Middle East ap-
proved the Administration's
recommendations last week, al-
though Sen. Rudy Boschwitz (R-
Minn.), the subcommittee chair-
man, and Sen. Christopher Dodd
(D-Conn.) pointed to Congres-
sional concern about Egypt's con-
tinued refusal to send its Ambas-
sador back to Israel. They also
noted that it will be difficult to
justify the large amount of aid to
Egypt when the government of
President Hosni Mubarak ap-
pears unwilling to cooperate with
the U.S.
Criticism of Israel's handling of
its economic crisis also came from
Stuart Eizenstat, former assis-
tant to the President for Domestic
Affairs and Policy under the Car-