COHENORGAD, YIGAL

Cohen-Orgad, Yigal: translation

(1937- )

Born inTel Aviv, Yigal Cohen-Orgad is aneconomistwho was trained atHebrew University of Jerusalemand served as a member of theKnessetfrom theLikud. He served as finance minister from the fall of 1983 until theGovernment of National Unitycame to power in the fall of 1984. As finance minister, he introduced austerity measures and sought to strengthen Israel's balance of payments through export-led growth and a cut in imports.In order to promote this growth, public and private consumption had to be restricted, and he sought to promote those sectors focusing on production and export. He initiated a variety of budgetary cuts, including the slashing of subsidies, in order to reduce government expenditures. He also initiated new revenue-raising measures, includingeducationfees, taxes on early pensions, higher income tax in the higher brackets, and a cut in fringe benefits for civil servants and public-sector workers. A hard-liner onforeign policy, he opposed theCamp David Accordsand theEgypt-Israel Peace Treatyand promoted continued Jewishsettlementin theWest Bankand theGaza Strip.