دور القروض العامة في تمويل عجز الموازنة

Abstract

The public loan is an important non-tax financial resource of the state, but it is an exceptional source, and it may negatively affect the public treasury, because it burdens it through its services represented in the interests that are paid for the term of the loan, as well as in installments, and it is useful to take into account It is not possible to achieve real and sustainable development through permanent reliance on loans, whether these loans are local or foreign, so resort to local loans should be made within narrow limits, for short periods, and at relatively low interest rates, because high interest rates indicate On the unhealthy state of the situations in which borrowing takes place, it also indicates the lack of public confidence in the state's finances and treasury bills .Given that loans are considered a deferred tax, it affects the level of public spending and public investment by expanding at the expense of public and private investment spending. The impact of the loan as a financial burden appears through the purpose of the expenditures, as it constitutes a financial burden if used to cover consumer expenses, and is productive if used to cover investment expenses. .Whatever the case may be, the effectiveness of this revenue (public loans) of all kinds, and the important role it plays through its impact on the overall variables of economic activity, cannot be ignored. Given this importance and the decline in revenues, which negatively affects the development path, it is necessary to find mechanisms for the development and activation of financial resources to contribute to advancing the development wheel