️️️️️️️️️️️️️️️️️️️️️️️️️️️ <unk> <unk> <unk> <unk> <unk>
1948 Arab-Israeli War, it also had to absorb hundreds of thousands of Jewish refugees from Europe and almost a million from the Arab world. Israel was financially overwhelmed and faced a deep economic crisis, which led to a policy of austerity from 1949 to 1959.<unk> Israel was financially overwhelmed and faced a deep economic crisis, which led to a policy of austerity from 1949 to 1959. Unemployment was high, and foreign currency reserves were scarce.