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July 08, 1994 - Image 33

Resource type:
Text
Publication:
The Detroit Jewish News, 1994-07-08

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

Buchman does not maintain
a home in Tel Aviv. For the past
30 years, he has spent three to
four months a year living at the
Tel Aviv Hilton. Both his former
longtime live-in companion and
his current girlfriend are Israelis.
One of his two sisters lives in Is-
rael, the other in Australia.
Mr. Buchman says he is per-
fectly comfortable taking the mil-
lions he has made in Frankfurt
and investing them or giving
them away in Israel, though he
admits that his German neigh-
bors are not necessarily pleased
with his choice.
"Yes, it bothers some of them,
but that's the reality," he said-. "I
act on how I feel, and the truth
is that I feel attached to Israel
and not to Germany. I'm not say-
ing I don't feel anything for Ger-
many, but I feel more for Israel."
He says when his dream pro-
ject, on the Dolphinarium prop-
erty, becomes a reality, he will
move to Israel.
"As soon as I build the hotel, I
will build an apartment for my-
self at the top and I will stay
there," he said. "Eventually, it
will happen." El

Economic Growth
Slows Down

The Israeli economy continued
expanding during the first five
months of the year, although
growth moderated somewhat
over the past two months, the
Bank of Israel's research division
reported.
The central bank's "S," or state
of the economy indicator, re-
flected the slowdown, register-
ing only a 0.2 percent rise in
May. The Bank of Israel also ad-
justed April's index upward to
0.1 percent after originally re-
porting a drop of 0.2 percent.
Since the beginning of the
year, the index has increased by
3.8 percent compared with 0.8
percent during the same period
last year.

Treasury Wants
Lower Deficit

Education, infrastructure invest-
ment and lower taxes will play
second fiddle in next year's Israeli
budget to the financial rescue of
the defense industries, Kupat
Holim Clalit, the kibbutzim, the
pension system, the municipali-
ties and to higher wages in the
public sector, Treasury director-
general Aharon Fogel said.
The Treasury will be pushing
for a lower budget deficit next
year to lower government bor-
rowing and thereby ease infla-
tionary pressures. Budget
director David Brodet said the
deficit will have to drop more
than a symbolic amount in order
to help lower inflation.



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