Algeria to rely on “aid” and “taxes” to fund housing projects

The government created new funding resources for the Housing Fund. Complementary incomes will be added to the budget intended for the Fund.

Prime Minister Abdelmalek Sellal signed an executive decree to determine management procedures of the Fund.

According to the decree, the Fund’s income resources will be expanded to include taxes on properties, aid from the Solidarity and Social Insurance Fund, the State’s budget and foreign aid.

The decree will also enable the Fund to get funding from taxes on sand extraction.

Concerning expenses, the decree says the minister in charge of housing will supervises expenses by virtue of a common decision between finance and housing ministers.