News In Brief
Israeli prime minister wins OD on austerity budget
Prime Minister Yitzhak Shamir's Cabinet, faced with a parliamentary challenge to topple it from power over Israel's severe economic crisis, unanimously approved an austerity budget of $20 billion. The decision Sunday was a crucial victory for Mr. Shamir, who reportedly threatened to resign unless Cabinet members agreed to steep cutbacks in government spending.
Finance Minister Yigal Cohen-Orgad pushed for the austerity budget, saying government expenditures must be cut as a first step in reducing record 190.7 percent inflation and a staggering $5.1 billion balance-of-payments deficit.