Israel still has a balanceofpayments deficitbut exports have expanded at a rapid pace. from $29.7 million in 1948 to $343 million in 1963. thus reducing the deficit nearly $40 million from the 1962 figure. This year Israel is redeeming its development bonds which have been sold in this and other countries since 1952. Investors have been paid $54 million. There Is Israeli progress in every areain agricultural and Industrial production. in education and housing. in land development. cultural activities and the integration of new immigrants. Israel has worked hard but our U.S. fokeign aid programs have played a significant roleand Israel is grateful for it. Our Government has extended over $1 billion in economic assistance to Israel since 1948.
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immigrants