Word: israel
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Dates: during 1960-1969
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Thanks to De Gaulle. A prime factor in the resurgence has been the government's decision to build up defense industries in order to spend more of the military budget inside Israel's own borders. Says Moshe Kashti, Director General of the Defense Ministry and author of the plowshares-into-swords program: "We were buying planes in France and making shirts at home. It seemed logical to make the planes at home and buy the shirts in France...
...country's biggest employer, state-owned Israel Aircraft Industries, has doubled its work force to 7,000 and wants still more people. Besides assembling French jet trainers under license, the company will soon start building North American Rockwell executive planes and an inexpensive ($400,000), Israeli-designed, 22-passenger transport for which it has 100 orders, many from abroad...
...year, exports are still far short of covering expected imports of $1.7 billion. This year's payments deficit will reach $600 million, compared with $425 million last year. Finance Minister Sharef figures that his treasury's healthy $900 million in reserves will tide the country over until Israel...
...Today, Israel's biggest import is people. Partly because last year's military victory made the country more secure and stirred feelings of pride, immigration will double this year to 30,000. One-third will come from Western countries, bringing welcome skills that will help to propel the economy...
...left-wing groups are already pushing for a general 10% wage increase. Even so, the country displays a confidence that borders on cockiness. This month Sharef declared a 15% cut in tariffs, except for autos, and he has scheduled further reductions for January. By rather boldly opening its borders, Israel expects to fight inflation at home and at the same time test its industry against international competition...