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December 27, 1985 - Image 60

Resource type:
Text
Publication:
The Detroit Jewish News, 1985-12-27

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

V006%
•6 3, 1 4 1. \ 5, 1 40 \ '4 %

60

Friday, December 27, 1985 THE DETROIT JEWISH NEWS

F13:27

SALE
DAYS

1112 11 INESURS.

LOCAL NEWS

DEC. 26th thru DEC. 31st.

WORDING STUDIOS

INVITES YOU TO SING
at

OUR STUDIOS

in

TALLY HALL

Orchard Lake Rd. at 14 Mile
Farmington Hills

OR
AT YOUR NEXT PARTY
"OUR ENGINEEERS WILL
RECORD YOUR GUESTS"

*FREE

Pedometer
MILEAGE SYSTEV
purchase - Supply
Limited

NOW ACCEPTING BOOKINGS

93

Pairs
in Stock

EXCALIB

851-9099

ORCHARD MALL
ORCHARD LAKE RD.
N. OF MAPLE

• OVER 1,000 SOUND TRACKS
AVAILABLE
• THE SINGING MACHINE IS ALSO
AVAILABLE FOR PURCHASE

W. BLOOMFIELD • 851 5122

-

SHOESior•MEN

4

CALL FOR DETAILS

MON-FRI 10-9
SAT. 10-6
SUN. 12-5

% OFF

ENTIRE STOCK -
DRESSES, COATS, SUITS
BLOUSES, SWEATERS, SLAX

.3

FOR THE WELL DRESSED WOMAN
WHO DOESN'T WANT TO SEE HERSELF
COMING AND GOING

Dr. Mark Goldberg and his family examine some Chanukah art work
prepared by Hillel Day School students for the Sinai Hospital lobby
areas. The exhibit was jointly sponsored by the hospital and the Sinai
Guild.

Economy Turning Around,
Treasury Report Asserts

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#458

EXPIRES 1-31-86

1

Jerusalem (JTA) — The gov-
ernment's economic recovery plan
is beginning to show results. It
has already had a strong impact
on inflation, exports are up, im-
ports are down and there is re-
newed public confidence in the
economy overall according to a
background report released by the
Treasury last week.
The inflation rate is declining
for the first time in recent years,
the report noted. The monthly
rate is down from a 15 percent av-
erage to an average of three-four
percent. Last month the inflation
rate increased by just one-half of
one percent.
Private consumption is down by
1.1 percent for the first half of
1985, the Treasury says, and is
expected to drop by three percent
when the year ends. The govern-
ment has pared its budget. Sub-
sidies for basic foods and services
have been cut. Vacant jobs have
not been filled. Fuel and electric-
ity prices have gone down for the
first time in 20 years. The four
percent reduction in the cost of
fuel may lead to a $60 million in-
crease in the gross national pro-
duct as a result of lower produc-
tion costs.
Imports have declined six per-
cent, mainly appliances and lux-
1.ry goods, the Treasury reported.
Exports are up by seven percent
this year. In October industrial
exports were 31.7 percent higher
than in October of the previous
year.
The controversial $300 per
capita travel tax imposed during

the summer months has had spec-
tacular results, leading to sub-
stantial savings of foreign cur-
rency. According to the Treasury
report, 48 percent fewer Israelis
went abroad last July than in
July, 1984. This translates into an
annual figure of 288,400 fewer Is-
raelis spending badly needed dol-
lars overseas this year.

The report, entitled "The
Economic Turnaround," main-
tains that public confidence has
been bouyed as a result of the gov-
ernment's economic policies. The
private sector no longer sees a
need to invest in foreign currency
as a hedge against inflation. The
black-market rate is low and
foreign currency reserves are on
the rise after months of decline.
Meanwhile, the European
commissioner for Mediterranean
affairs in the EEC, former French
Foreign Minister Claude Cheys-
son, has praised Israel's economic
austerity plan.
Cheysson, visiting Israel Fri-
day, told reporters he did not
know of any other example of citi-
zens showing such a degree of sac-
rifice in time of peace.
In other economic news, Ep-
hriam Reiner, chairman of the
Board of Directors of Ampal-
American Israel Corporation an-
nounced that Michael Jaffee,
president of the Corporation, has
submitted his resignation, effec-
tive early in 1986, to pursue other
opportunities. Jaffe will remain
as a member of the Board of Direc-
tors of the Corporation.

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