I NEWS I
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•
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limited time we're waiving your
initiation fee.
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club designed with you in
mind...
Or
Uffy)-
27877 Orchard Lake Rd., in the Orchard 12 Plaza ♦ (313) 489-1811
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FOR A FUR
WHEN THERE'S
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50% OFF
ENTIRE COLLECTION
Valentino—Calvin Klein
Bob Mackie—Ann Klein
Basile—Geoffrey Beane
Donna Karan—Guiliana Teso
Robert Gil/farm ablif.4
6-
Applegate Square • Northwestern Hwy. at Inkster Road
Fourth Generation Jewelers
Ku
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755 West Big Beaver at 1.75
Main Floor Top of Troy Tower, Troy, Michigan 48084
362-4500
62
FRIDAY, FEBRUARY 9, 1990
COATS
UNLIMITED
Sterling Heights
Sterling Place
37680 Van Dyke at 16 1/2 Mile
939-0700
Oak Park
Lincoln Center, Greenfield at 10 1h Mile
968-2060
West Bloomfield
Orchard Mall, Orchard Lake
at Maple (15 Mile) • 855 9955
-
Olim's Needs Not Met
In Israel's State Budget
Jerusalem (JTA) — The
Treasury submitted a $32
billion state budget for fiscal
1990 to the Knesset last
week that underestimates
by more than half the
number of immigrants from
the Soviet Union expected in
Israel this year.
The $900 million ear-
marked for immigration
provides for 40,000
newcomers. By the time the
budget was completed, esti-
mates had been revised up-
ward to 100,000.
Finance Minister Shimon
Peres said the budget short-
fall in absorption costs
would have to be made up
through overseas loans and
the sale of state-owned
corporations and commercial
bank shares.
Treasury experts said
large-scale aliyah has its
good and bad sides, as far as
the economy is concerned. It
is expected to contribute to
the surging inflationary
trends and mounting
unemployment. And absorp-
tion costs are likely to in-
crease the foreign debt.
On the positive side,
however, the influx of im-
migrants will boost con-
sumption and nudge the
economy back to renewed
growth, one of Peres' major
goals.
In fact, the finance min-
ister described the budget
Monday as "a bridge from
the period of economic
slowdown to one of economic
growth."
But it spells some new
hardships for Israelis, estab-
lished citizens and im-
migrants alike. The value-
added tax will go up, as will
the costs of subsidized goods
and services, including fuel,
water, milk, cigarettes and
public transportation.
Parents will have to pay
for an extended school day,
whereas elementary edu-
cation until now has been
virtually free. Child- support
allowances will be reduced,
as well.
The Treasury will abolish
tax exemptions for students,
working women, residents of
development towns and
workers employed on late-
night shifts.
The marginal income-tax
rate, now 51 percent, will be
reduced. The sales tax will
be cut and the Defense Min-
istry will reduce the number
of days of active duty re-
quired of reservists.
Peres told the Knesset that
the fate of the economy in
the next decade would be de-
termined by peace or its
absence, the intifada, securi-
ty needs and the scope of
aliyah.
He said the four main
goals of the new budget are
creating conditions for econ-
omic growth, minimizing the
government's role in the
economy, correcting the im-
balance in the distribution of
income and absorbing im-
migrants.
In the past year, the gross
national product rose at a
per capita rate of 2..5 per-
cent. Industrial production
increased by 5.5 percent.
The foreign debt went down
and tourism picked up.
But the annual inflation
rate exceeded 20 percent,
foreign investments con-
tinued to lag behind needs
and unemployment soared to
9 percent.
U.S. Opposes
PLO's U.N. Ties
Geneva (JTA) — The
United States will continue
to oppose efforts by the
Palestine Liberation Organ-
ization to gain admission
into specialized agencies of
the United Nations, the U.S.
Ambassador to the United
Nations in Geneva, Morris
Abram, said recently.
Abram spoke in response
to questions about the World
Health Organization's Gen-
eral Assembly, which will
convene here in May.
A PLO petition for mem-
bership with the status of
"State of Palestine" was
submitted in 1989. Action on
it was deferred to this year.
Abram observed that "the
specialized agencies af-
filiated with the United
Nations in Geneva are of
strictly humanitarian
character and not political"
He added that "the right
place for the PLO to appeal
is the (U.N.) General
Assembly, which is a polit-
ical organ. But they failed
there, so they shamefully br-
ing it to the specialized
agencies in Geneva.
"We will continue to op-
pose their demands. It is in
the interests of everyone to
drop it," Abram said.
The American envoy also
stressed that the United
States will continue to block
one-sided resolutions aimed
against Israel at the con-
ference of the U.N. Human
Rights Commission opened
here Jan. 29.