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Macedonian gov't subsidizes youth for real estate credits

Xinhua, February 1, 2016 Adjust font size:

The Macedonian youth, who could not afford to buy their own houses, may get subsidies from the government for their real estate credits, Finance Minister Zoran Stavreski said Sunday.

According to a government initiative Youth Housing Project launched last month, citizens under the age of 35 with monthly income under 900 euros (975.5 U.S. dollars) can submit for subsidies for their real estate credits, Zoran Stavreski said.

Young people will be subsidized with 80 percent of their monthly installment for a period of eight years, and with 50 percent for the remaining years, whereby a maximum amount of the loan is 50,000 euro (54,200 dollars).

In case that a person has no sufficient funds, he or she will be 100 percent subsidized by the government for his or her monthly installment.

The Macedonian government has opened offices across the country for offering detailed information on the project, Stavreski added. Endi