التمويل غير التقليدي كآلية لتغطية عجز الميزانية العمومية

Abstract EN

This study aims to introduce the unconventional financing mechanism represented in the cash issue, Pursued by the government, For the purpose of financing the public treasury deficit.

In order to avoid foreign borrowing and to preserve national sovereignty, the only option for the government was to sell treasury bonds to the central bank in exchange for a cash issuance.

It is a creation of free liquidity from goods and services, and it is one of the unconventional financing mechanisms that countries resort to in exceptional cases such as financial crises.

We relied in our study on the descriptive analytical approach, relying on the statistics of the annual reports of the Bank of Algeria, to know all the data that enable us to list the financial position of Algeria from 2014 to 2018 that led to the deficit of the public treasury.

In our study, we concluded that unconventional financing was not the appropriate mechanism to cover the deficit two years after its implementation, as it did not achieve the desired goals, which are rebalancing the public treasury and the balance of payments.