Government endorses a law to lend money for the rich

The long awaited loans on real properties’ law endorsed by the government didn’t live up to the citizens’ expectations, though it gave the go ahead for the public treasury to start the treatment of their requests.

• The requirements included in the executive decree benefit the government’s senior officials rather than the plain citizens because of the discouraging conditions set up by the Finance Ministry, knowing that the people who benefit from the loan are automatically denied the right to receive the government’s help which estimated at 700 thousand Algerian Dinars. Moreover, estimates reveal that less that a million civil servants are eligible for this operation.
• Echourok has learnt that the 1% rate loans are allocated to the beneficiaries whose wages are less or equal six fold the minimum guaranteed salary, which means something like 90 thousand Algerian Dinars per month.
• In case where the beneficiary has salary which varies from 60 to 180 Thousand Algerian Dinars, the loan rate should be calculated at a level of 3%. On the other hand, top government officials can benefit from a loan at a level of 4 million Algerian Dinars to undertake expansion works in their houses but the loan is halved for the other category of beneficiaries.
• These requirements prompt us to raise questions concerning the bulk of the beneficiaries that meet the conditions while the Finance Ministry kept the matter vague as concerns the rest of the social categories that express the will to benefit from this operation.