Israeli Finance Chief Taking Case to U.S.
Israeli Finance Minister Yitzhak Modai left Tuesday for a 10-day visit to Washington, where he is expected to press for increased U.S. financial aid to Israel.
Modai told reporters before departing that he intends to tell American officials about Israel’s economic austerity measures, including a proposed $1.5-billion cut in government spending for the 1985 fiscal year, which starts in April.
He also said he expects to sign a free-trade agreement with the United States, an arrangement that Israel hopes will expand its export market enough to overcome its staggering foreign debt.
Israel is seeking $800 million in emergency aid from the United States in addition to an unprecedented $2.6-billion grant. The Reagan Administration has conditioned such assistance on Israel taking more stringent measures to improve its economy and curb inflation, which stood at 445% last year.
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