Nourredine Moussa: “State subsidized housing incentives through the CNL are still in force”

The Algerian Housing Minister, Nourredine Moussa, has made it clear that the public authorities have not at all frozen the much-needed financial support granted by the National Housing Fund (CNL) for the purchase by citizens of new housing units. 

• In a statement to “Echorouk”, Nourredine Moussa indicated that the state’s financial backing would remain in force, stressing that the implementation of the measures for the granting of mortgage with a 1% interest rate for the benefit of those medium – income earners, would in no way rule out the CNL’s long-standing aid.
• The housing Minister also said that the implementation texts related to the granting of state subsidized credits with an interest rate not exceeding 1% for the acquisition of new housing units by citizens would come into force shortly.
• He further explained that the CNL’s action program would be reviewed only for certain conditions and mechanisms setting the granting modalities of this financial assistance ranging between 400 and 700 thousand dinars.
• The amount of such an assistance is determined in keeping with the monthly income of the recipient as well as in line with the national minimum guaranteed wage SNMG.
• The SNMG was altered at the beginning of this year jumping from 12 to 15 thousand dinars following a decision by the tripartite meeting bringing together the government, the employers’ confederation and the General Workers’ Trade Union (UGTA).
• It’s should be noted that the selling price of a new flat has been officially set at 30 thousand dinars per square meter.