Erhard
111:11W

Nearly 650,000
Live in Poverty

Some 648,000 Israelis, about 12
percent of the country's popula-
tion, lived below the poverty line
last year even though the econ-
omy boomed and the consumer
society flourished as never before,
a report by the National Insur-
ance Institute disclosed.
The report said the number of
poor in 1993 rose by 5.4 percent
over 1992. But the number of el-
derly poor rose by 16 percent and
the number of large families that
fell below the poverty line was
higher by 13 percent.
By contrast, the number of im-
migrants living below the line
dropped drastically - by more
than 30 percent.
Poor people were defined as
households living on less than
half of the average national wage
of NIS 3,985 a month, a figure
provided by the Central Bureau
of Statistics.
At a press conference marking
the release of the report, Social

Affairs Minister Ora Namir said
the drop in unemployment from
11.2 to 10 percent in 1993 slowed
the increase in poverty, as did the
real rise in the average wage.
But the government's anti-
poverty plan approved this year
to try to push 50,000 families
back over the poverty line obvi-
ously had no effect on 1993 fig-
ures, she said.
In response to the report, His-
tadrut Chairman Haim Ramon
said he would attempt to update
the minimum wage to maintain
it at 45 percent of the average
wage.
Coalition chairman MK Eli
Dayann called on the prime minis-
ter to initiate an immediate Cab-
inet session on the poverty issue.
He also called on the govern-
ment to adopt the recommenda-
tions of experts and the Knesset
social caucus, which, he said, of-
fered effective methods of reduc-
ing poverty.

'94 BMW 325i
Convertible

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'94 BMW 325i
Sedan

Early Transfer
Is Requested

Palestinian Authority Econom-
ics Minister Ahmed Qreia (Abu
Ala) has requested that Israel
transfer economic responsibili-
ties for the West Bank to the
Palestinians at the early em-
powerment stage, instead of wait-
ing for final status negotiations
as required under the Declara-
tion of Principles (DOP).
Mr. Qreia raised the issue with

Stk# 436900

Israel Finance Minister Avraham
Shohat at a Jerusalem meeting
called to discuss problems that
have arisen in implementing the
economic agreement between Is-
rael and the Palestinians.
Mr. Qreia explained that with-
out control over the economy of
the West Bank, it will be difficult
to plan the economic development
of Jericho and the West Bank.

'94 BMW 325is
Coupe

Stk# 442100

LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES

Change

Symbol

Name

Exchange

Nov. 4

Nov. 11

SCIXF

Scitex

NASDAQ

'21.25

'20.38

ECILF

ECI Telecom

NASDAQ

'18.75

'17.88

TEVIY

Teva Pharm

NASDAQ

'25.13

'27.50

IEC

PEC Israel

NYSE

'28.00

'28.50

+$0.50

'0.00

+s0.13

Elbit Computers

NASDAQ

'22.50

'22.50

ELT

Elscint LTD

NYSE

'2.00

'2.13

ELRNF

Elron Electronics NASDAQ

'8.63

'8.38

TAD

Tadiran

NYSE

'20.38

'22.38

CMVT

Comverse

NASDAQ

'13.75

'12.25

ELBTF

NASDAQ

LANTF

Lannet Data

ISL

First Israel Fund NYSE

•

• • • • • •

: : : : : :

* Plus sales tax, lic. fee and plates. Subject to pre-sale as of 11/7/94.

rn

C)

+s2.00

LU

CO

'12.13

'13.63

+s1.50

'13.38

'12.63

-$0.75

Source: Allen Olender, Prudential Securities,
West Bloomfield.

4065 Maple
Just E. of Telegraph
Bloomfield Hills

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