1972, the figure was $800 n~illion. Military expendi- tures hit $2 billion in 1975. In the fall of 1977, the new Begin govern- ment "floated" the Israeli pound to make exports cheaper, removed or reduced export subsidies, and eliminated certain currency controls to attract foreign investors. This "New Econon~ic Policy" was a moderate success. Exports rose 25 percent in 1978, and foreign investment in- creased more than 50 percent. But Begin failed to accompany these measures...