People can fund State’s companies with 10,000 DZ

The government will open loans starting from April in return for 5 percent interests is a “new manoeuvre” to refresh banks and the State’s Treasury. Money will be attracted from the black market out of official canals, according to economy experts.

Abdelmalek Mebarek Serrai, an international economist, believes that the loans are no more than a new financial technique meant to recover money as previous measures failed. Of them, fiscal declaration which came into force in August 2nd.

“The 7 percent fine of money at banks pushed many traders, farmers, importers and foreign trade operators to avoid the fiscal declaration as it had no financial interest,” he said.

He added that loans represent a financial procedure adopted in all the countries to avoid foreign debts. People and private companies will be involved in funding projects. 

Expert Fares Messdour called for “halal” services so that people will not reject the procedure. “Algerians are conservative and do not like interest loans.”