▁economic ▁crisis ▁in ▁the ▁early ▁days ▁of ▁state hood . ▁ ▁History ▁So on ▁after ▁establishment ▁in ▁ 1 9 4 8 , ▁the ▁emer ging ▁state ▁of ▁Israel ▁found ▁itself ▁lack ing ▁in ▁both ▁food ▁and ▁foreign ▁currency . ▁In ▁just ▁three ▁and ▁a ▁half ▁years , ▁the ▁Jewish ▁population ▁of ▁Israel ▁had ▁double d , ▁increased ▁by ▁nearly ▁ 7 0 0 , 0 0 0 ▁imm igr ants . ▁( See ▁also ▁Jewish ▁ex od us ▁from ▁Arab ▁and ▁Muslim ▁countries ). ▁Con sequently , ▁the ▁Isra eli ▁government ▁inst ig ated ▁measures ▁to ▁control ▁and ▁over see ▁distribution ▁of ▁necessary ▁resources ▁to ▁ensure ▁equal ▁and ▁am ple ▁r ations ▁for ▁all ▁Isra eli ▁citizens . ▁ ▁In ▁addition ▁to ▁the ▁problems ▁with ▁the ▁provision ▁of ▁food , ▁national ▁a uster ity ▁was ▁also ▁required ▁because ▁the ▁state ▁was ▁lack ing ▁in ▁foreign ▁currency ▁res erves . ▁Ex port ▁reven ues ▁covered ▁less ▁than ▁a ▁third ▁of ▁the ▁cost ▁of ▁imports , ▁and ▁less ▁than ▁half ▁of ▁the ▁consequ ent ▁def ic it ▁was ▁covered ▁by ▁the ▁Jewish ▁loan ▁system ▁known ▁as ▁Mag bi y ot ▁( , ▁lit . ▁Col lections ). ▁Most ▁finan cing ▁was ▁obtained ▁from ▁foreign ▁banks ▁and ▁gas ▁companies , ▁which , ▁as ▁ 1 9 5 1 ▁drew ▁to ▁an ▁end , ▁refused ▁to ▁expand ▁the ▁available ▁credit . ▁In ▁order ▁to ▁super v ise ▁a uster ity , ▁the ▁prime ▁minister , ▁David ▁Ben - G ur ion , ▁ordered ▁the ▁establishment ▁of