Morocco Considers Financial Aid for Newlyweds to Boost Housing Access

Drawing inspiration from the Turkish experience applied since 2016, the majority parties have introduced among their proposals to amend the 2021 finance bill a measure aimed at granting financial support to young people, especially the married, in order to access housing, explains the newspaper Assabah.

This will be a subsidy of the interest rate on mortgage loans granted to employees, civil servants, small traders covered by the single professional contribution and newlyweds, up to a limit of 1.5 million dirhams.

To make such a measure official, the state must imperatively cover the difference between this rate and the actual interest rate prevailing on the market. According to the daily, this decision, which will be discussed and put to a vote in the upcoming meetings of the finance committee and plenary sessions of parliament, is an amended version of the measure applied by the Turkish government for four years, through the PJD (Turkish) initiative in order to support young people and motivate them to leave celibacy, the newspaper pointed out.

For the record, Turkey has set up a measure allowing young people to open "marriage accounts" throughout the country’s banking network. Through the program, the government offers newlyweds under the age of 27 the equivalent of 20% of the total amount of their savings.