Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment

Algerian Journal of Legal and Political Sciences Vol : 63 , N°:02, Year:2026, pp : 287 - 303 A 287 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment السياسة المالية وإلاقتصادية كمدخل لتحقيق ألامن إلاقتصادي وتشجيع إلاستثمار ألاجنبي MENASRIA hanene* University of Tissemsilt- Digitization and Law Laboratory in Algeria [email protected] Date of Submission 19-10-2025 Date of Final Acceptance 05-04-2026 Date of Publication June 2026 ـــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــ ـــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــ ــــــ ـــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــ ـــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــ ــــــ ـــــــــــــــــــــــــ * Corresponding Author: MENASRIA Hanene Abstract: The concept of security is not limited to being a military issue, but is a comprehensive social issue that relates primarily to the extent to which states and societies are able to implement financial policies and economic, social, and cultural development programs. It also includes the security of the land and the security of society from dangers that threaten them from the outside, and the security of people’s lives from all manifestations of poverty, deprivation, and ignorance, in addition to its effects and repercussions on economic, financial, and investment policy. This topic has addressed the analytical descriptive approach. The analytical approach was followed by analyzing the legal texts related to the subject of the study, in addition to the descriptive approach, as the study of this topic requires reliance on it, by addressing the various concepts related to the subject of the study and highlighting their different aspects, as well as clarifying the theoretical aspect by presenting the various jurisprudential opinions that have been reported in this regard, as well as some of the problems raised by economic security. Therefore, more work must be done to achieve the desired goals of economic policy, because achieving them leads to encouraging economic development, which has an effect on achieving economic security and promoting investment. Keywords: financial policy, investment, economic development, stability, economic security. ملخص: إن مفهوم ألامن ال يقتصر عن كونه قضية عسكرية بل قضية اجتماعية شالمة تتعلق أساسا بمدى قدرة الدول والمجتمعات على تنفيذ السياسات المالية والبرامج التنموية الاقتصادية والاجتماعية والثقافية، كما يشمل أمن ألارض وأمن المجتمع من ألاخطار التي تهددهم من الخارج، وأمن حياة الناس من جميع مظاهر الفقر والحرمان والجهل، باإلضافة إلى آثاره وانعكاساته على السياسة إلاقتصادية والمالية وإلاستثمار، ولقد تم التطرق في هذا الموضوع إلى المنهج التحليلي والمنهج الوصفي، ح يث تم اتباع المنهج التحليلي وذلك بتحليل النصوص القانونية المتعلقة بموضوع الدراسة، إضافة إلى المنهج الوصفي كون أن دراسة هذا الموضوع تقتض ي إلاعتماد عليه، وذلك بالتطرق إلى مختلف المفاهيم المتعلقة بموضوع الدراسة وإلقاء الضوء على جوانبها المختلفة، وكذا توضيح ال جانب النظري له من خالل عرض مختلف آلاراء الفقهية التي وردت في هذا الشأن، وكذا بعض إلاشكاالت التي طرحها ألامن إلاقتصادي، وعليه ال بد العمل أكثر على تحقيق ألاهداف المرجوة من السياسة إلاقتصادية، ألن تحقيقها يؤدي إلى تشجيع التنمية الاقتصادي التي لها لها أثر في تحقيق ألامن الاقتصادي وترقية إلاستثمار. الكلمات المفتاحية: السياسة المالية، إلاستثمار، التنمية إلاقتصادية، إلاستقرار، ألامن إلاقتصادي.

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MENASRIA Hanene 288 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment Introduction: The concept of security has moved from being merely a military issue to being a comprehensive societal issue that is essentially related to the extent of the ability of states and societies to implement financial policies and economic, social and cultural development programmers. Without security, a decent livelihood for the individual is impossible and there is a lack of stability in all areas of human life. In this context, Robert McNamara says: - Mc Namara, former US Secretary of Defense and former President of the World Bank, in his book entitled “The Essence of Security”: “Security is not military equipment, even if it includes it, not military force, even if it includes it, and not military activity, even if it includes it. Security is development, without development There is no security, and countries that do not develop simply cannot remain safe.” Hence, it is clear that the concept of security has expanded to become a comprehensive concept with a broad interpretation, after it previously had a narrow concept limited to the security of the Earth from external aggression, as it now includes the security of the Earth and the security of... It protects society from the dangers that threaten it from outside, and protects people’s lives from all manifestations of poverty, deprivation, ignorance, diseases, epidemics, etc. Therefore, economic security has become one of the priorities that countries seek to achieve, especially in light of the transformations and crises that most countries are witnessing, which have affected their financial policy within a framework. The features of this phenomenon become clear in the form of a specific financial system through which public needs are united, as are the means of satisfying them, and from here it differs. The role of financial policy from one country to another depending on the differences in the economic, social and political system existing in each country separately, in order to encourage and promote investment. Hence, the problem of the study crystallized in the following fundamental question: To what extent can economic security affect the financial and economic policy of countries, leading to the encouragement and promotion of investment? The nature of modern topics requires us to resort to adopting the analytical descriptive approach, as the analytical approach was addressed by analyzing the legal texts related to the subject of the study, in addition to the descriptive approach since the study of this subject requires relying on it, by addressing the various concepts related to the subject of the study and presenting Shedding light on its various aspects, as well as clarifying its theoretical aspect by presenting the various jurisprudential opinions contained in this regard, as well as some of the problems posed by economic security. This study was divided into: Section I: The concept of economic security Section II: The effects of economic security on financial and economic policy to encourage investment Section III: Repercussions of economic security on financial and economic policy to encourage investment

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MENASRIA Hanene 289 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment Section I: The concept of economic security We will highlight the concept of economic security, as well as financial and investment policy, their relationship to each other, as well as indicators of economic security, through the following elements: A: Defining the terms related to economic security The definition of economic security and the synonymous terms that fall within it will be discussed in the following. 1- Definition of economic security The definition of security linguistically and jurisprudentially, as well as economic security, as well as financial, economic and investment policy, will be addressed through the following points. a- The linguistic definition of security Security is a language of safety and trustworthiness, meaning I believed, so I am safe, and I believed others in terms of safety and security, and security against fear1, and among the meanings of security in the Qur’an and Sunnah are lack of fear, belief, preservation, reassurance, non- betrayal, trust and peace2. b- The jurisprudential definition of economic security * Security is defined according to Henry Kissinger as any action through which a society seeks to achieve its right to survival3. Boutros Ghali defines it as security is not limited to freedom from the external military threat and does not only affect the safety, sovereignty and territorial unity of the state, but rather extends to include political, economic and social stability, because Security is related to internal stability as much as it is related to external aggression4. There are multiple security terms that work under one title, which is human security, affecting various aspects of humanity. The following are the elements of human security5: * Economic security: which is achieved by providing job opportunities for individuals that provide them with a basic income. * Food security: by securing basic food needs and ensuring what guarantees this, whether in terms of money or in terms of access to food sources. * Health security: by ensuring protection from diseases and ensuring an effective health care system. * Environmental security: which is achieved by protecting against all types of environmental risks. * Personal security: It includes protection from threats of violence, whether resulting from behavior issued by the state or individuals themselves, especially if it is directed against groups most vulnerable to risks, such as women and children. * Social security: It aims to confront threats to social life, such as risks that threaten the social fabric in a country, and it can also include ensuring the cultural security of society. * Political security: by ensuring that governments adopt wise policies towards their citizens. Economic security has also been defined by international organizations, including:

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MENASRIA Hanene 290 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment * The definition of economic security according to the United Nations ONU: “It is that a person possesses the material means that enable him to live a stable and fulfilling life by possessing enough money to satisfy basic needs, which are food, adequate shelter, basic health care, and education.” * The International Committee of the Red Cross (ICRC) defines economic security: the condition in which individuals, families or communities are able to meet their basic needs and cover obligatory expenses in a sustainable manner that respects their dignity. Basic needs include food, water, shelter, clothing, and personal hygiene tools, in addition to the ability to cover health care and education expenses. That is, economic security includes protection and guarantee measures that qualify a person to obtain his basic needs and guarantee a minimum standard of living6. Based on what was said above, economic security has been defined by several definitions, each of which focuses on a specific aspect. Indeed, part of jurisprudence defines it as development, as the two phenomena of economic security and development are interconnected in such a way that it is difficult to distinguish between them. The more development advances, the more security advances, and the more society organizes its economic affairs to meet His needs, the degree of his resistance to external threats will increase significantly7. In this context, we find that Algeria is striving to achieve security for all segments of society through social protection and what it spends on the individual to ensure access to his basic needs. This is what the following table shows: Social protection increased from 2015 to 2018 2015 2016 2017 2018 Social Security For the earners Expenses 395 395 400 553 435 227 467 988 Retirees Expenses 909,51 1 036,91 1 185,41 1 270,30 Social security For non-earners Expenses 428 031 503 461 551 111 59 463 Unemployment Insurance Expenses 1 034 861 64 989 89 541 11 120

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MENASRIA Hanene 291 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment Insurance for holidays Unemployment bad weather public construction and water Expenses 26 414 28 906 28 665 28 978 Source: Ministry of Labour, Employment and Social Security * The National Retirement Fund: including all retirement benefits * The National Social Security Fund for Non-Employees * The National Social Security Fund for non-earners What is observed from these data is a decrease in spending, and this is related to several factors, including an increase in the employment rate and a decrease in the unemployment rate, as shown below. Between 2013 and 2022, Algeria witnessed an increase in the employment rate, an improvement in the social situation, and an increase in the development rate, as shown:

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MENASRIA Hanene 292 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment Source: See the website: https://ar.tradingeconomics.com/ Date of visit: 5/23/2023 at 9:00 am. Accordingly, economic security is considered one of the most important pillars of human security, given the importance of the economic factor and its interference in various areas of life. It is not possible to talk about human development, such as health, food, and education, except in light of a sound economy, and in light of the globalization of the economy, the economies of countries have become closely interconnected with each other. At all levels, this is what makes any imbalance affecting the economy of one country necessarily affect the economy of another country. On the other hand, economic security is based on taking necessary measures to protect the national economy from the dangers of economic globalization, and thus working to secure stability in the economy at the national and regional levels. And global, because instability will negatively reflect on human security and put it in a constant state of threat. 2- The concept of financial and economic policy In this section, we should explain this concept of financial policy on the one hand, and look at this concept of economic policy on the other hand, and how these two variables are affected by the presence of the pillars and foundations of economic security, both negatively and positively. a- Definition of fiscal policy The various concepts of financial policy will be addressed through the following elements. * Theoretical definitions of fiscal policy Due to the role that the state plays in contemporary economies, there are many concepts for fiscal policy, and here are some of them, for example8: - Fiscal policy is a process aimed at organizing spending and revenues in the national economy for the purpose of achieving the objectives of economic policy represented in achieving economic development. - Fiscal policy is a set of procedures and measures related to organizing various revenues and expenditures and achieving balance in the state budget. From the aforementioned definitions, we conclude that fiscal policy is an important mechanism used by contemporary economies to control revenues and expenditures in a way that can achieve

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MENASRIA Hanene 293 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment the objectives of economic policy, such as increasing the volume of production, reducing unemployment levels to the lowest possible extent, and achieving economic stability by ensuring the stability of the general level of prices at reasonable levels. For all segments of society, and hence monetary policy stands as a barrier to all economic fluctuations. It also aims to achieve certain objectives, the most important of which are the following: 1- Promoting the economy and advancing development. 2- Promoting stability throughout the country. 3- Achieving social justice. 4- Providing equal opportunities for the majority of citizens, by bringing the classes of society closer together and eliminating the gap between individuals with regard to income and wealth. In fact, fiscal policy, while seeking to achieve these main goals, affects various basic economic relationships * Financial policy in developed and developing countries The concept of fiscal policy differs, and its importance for the goals it seeks to achieve varies in economically advanced societies than in developing countries9. - Fiscal policy in developed countries: These are countries with societies that have completed the causes of their economic growth, and the main concern of fiscal policy is to work to achieve economic stability and allow the state’s budget to fluctuate according to the various economic aspects of the state. If it happens that the total spending on output is less than what is necessary to maintain the level of Employment It has become necessary for the government to adjust its level of spending with the taxes it collects and other revenues it obtains, and to resort to financing in order to fill the gap between the internal level of employment and the level of total spending. - Fiscal policy in developing countries: These are countries whose economic development has not yet been completed, and they are countries that barely provide the average population with a degree of the needs and means of luxury. In these countries, the fiscal policy is based on financing economic development programs, and the government devotes most of its attention to raising the real income of the individual as well as Creating investments and employing them to increase community resources. From this it is clear to us that while financial policy in developed countries strives to spread stability throughout the economy, in developing countries it harnesses all its capabilities to provide the necessary resources to accelerate economic development. This does not mean that financial policy does not pay any attention to the goal of achieving economic stability. Part of the success in the battle to build society economically is due, first and foremost, to the extent to which financial policy effectively contributes to overcoming any inflationary wave if it appears, in order to build on sound, stable foundations. This is what Algeria seeks to achieve, as it turns out that the percentage of GDP at market prices is constantly increasing from 2011 to 2016, according to the table below:

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MENASRIA Hanene 294 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment Percentage of GDP at market prices from 2011 to 2016 Statement 2000-2011 2012 2013 2014 2015 2016 GDP at current market prices (million dollars) 198.8 204.3 206.1 219.4 227.6 248.5 Real GDP growth (percent) 5.3 4.6 2.2 2.8 3.3 3.9 Source: Asma Bentrad, Evaluating the Algerian Economy’s Performance in Enhancing the Investment Climate, 4/25/2020, website https://caus.org.lb/%D8%AA%D9%: , browsing date 7/19/2023 on 9:30 am. b- The concept of economic policy The total means used to achieve a certain economic state of progress and prosperity within the characteristics and characteristics of a political system (capitalism or socialism, for example) require the government to take preliminary economic measures to create the necessary framework for development, and this is by developing a simplified model that truly depicts the economic structure of society with the help of a table of outputs and inputs, which is followed by A comprehensive study of all alternative means of financing the plan and putting it into effect, and finally preparing a comprehensive oversight and implementation device. * Economic policy in Algeria: The Algerian economy has witnessed a number of changes. There is an economic policy before the reforms carried out by the state, and there is an economic policy after it. Before the reforms, it was socialist, meaning that the state was dominant by establishing agricultural cooperatives and its interest in the national market. After that, Algeria restored the structure, which took place in stages until it moved to a market economy10. c- Definition of investment The word investment is derived from the word “fruit,” meaning the tree’s bearing, and the child’s child is the fruit of the heart. Fruit is a type of money, and the fruit of one’s money means its growth11. As for terminology, the Organization for Economic Cooperation and Development has provided a definition of investment as every natural person12, every public or private institution, every government, every group of natural persons who have a relationship with each other, every group of institutions that have a legal personality linked to each other is a foreign investor if he has an investment institution, which also means a branch or company that carries out operations in a country other than the one in which the investor resides.

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MENASRIA Hanene 295 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment The word investment in its economic sense also means using money in production, either directly by purchasing machinery and raw materials, or indirectly, such as purchasing stocks and bonds13. The Algerian legislator defined investment in Ordinance 01-03 relating to the development of amended and supplemented investment as14 “every acquisition of assets that falls within the framework of creating an institution’s capital, which may be in cash or in kind, and restoring activities within the framework of partial or total privatization.” Law 16-0915 amending the above order also defined investment in Article 2 as “the acquisition of assets that fall within the framework of developing new activities, expanding production capabilities or rehabilitation, and contributions to the capital of a company.” However, after Law No. 22-18 16was issued, we find that the legislator implicitly defined this term through Article 4 of this law, which reads: “Investments made through the acquisition of tangible and intangible assets that fall directly within the activities of producing goods and services within the framework of new activities are subject to the provisions of this law.” Expanding production capabilities and/or rehabilitating production tools - contributing to the capital of an institution in the form of cash or in-kind shares - transferring activities from abroad. Accordingly, what is noted about these definitions is that the Algerian legislator reduced the content of investment, as we find that the definition contained in Order No. 01-03 was broad, and in contrast, we find it brief in the definition contained in Law No. 16-09, and Law No. 22-18 abolished the restoration of activities in Full or partial privatization framework. The Algerian-Tunisian Agreement defined investment in Article 1 of it as “all types of assets that are invested by an investor of one contracting party in the territory of the other contracting party in accordance with its laws and include, in particular but not limited to17: - Movable and real estate properties, as well as other real rights such as mortgages, liens, mortgages, usufruct rights, and other similar rights. - Shares, partners’ shares, and other forms of participation in the internal affairs of companies. - Bonds, debts and rights related to services that have economic value. - Concessions granted by law or contract, especially concessions related to exploration, extraction and exploitation of natural materials. Accordingly, the agreements related to encouraging investments ratified by Algeria, whether bilateral or multilateral, did not provide a comprehensive and prohibitive definition, as the concept of investment is carefully controlled, and Tunisia is also like other countries that are on the path to development. The new investment law in Algeria has opened the appetite of economic traders at home and abroad, as employers’ organizations recently confirmed to the local press that there are more than 100 foreign investment applications on the table of the Algerian authorities, in exchange for 1,200 foreign traders expressing their intention to enter the Algerian market. For its part, the Algerian agency revealed In its latest report, the Investment Promotion Agency announced the registration of more than 1,694 investment projects, with a value exceeding 845 billion Algerian dinars ($6.3 billion), since the new law entered into force, in the period from early November to last March 31. The director of the agency explained that the number There were 48 files registered in the “Single

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MENASRIA Hanene 296 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment Window for Major Projects and Foreign Investments,” including 38 direct foreign investment projects, 24 projects in partnership with foreigners, and 14 large projects for national investors. The “Single Window” ensures simplification of procedures for the investor, by bringing together all departments. Those related to investment activity, such as tax and customs representatives and the National Center for Commercial Registry. The government agency itself also announced advanced negotiations with foreign investors, including major institutions, which communicated through Algerian diplomatic representations in many countries. Regarding the sectors most attractive to investments, the director of the Algerian agency always explained that the industrial sector comes in the lead with 862 projects, followed by the construction and works sectors. Public affairs with 233 projects, transportation with 223 projects, then services with 95 projects, agriculture, fishing and aquaculture with 95 projects, in addition to tourism projects with 52 projects, with 45 projects in health. B: Economic security indicators Among the indicators that show that countries are seeking to achieve economic security that benefits the individual and society, at the level of financial and economic policy, and on the development side, are the following18: 1- Economic growth means a continuous increase in society’s production and individual productivity. 2- Structural transformations affecting all aspects of economic, social, political, administrative and cultural backwardness with the aim of creating infrastructure, developing capabilities and unleashing good energies at the individual and collective levels. 3- Sustainable improvement in the material quality of life, through a steady increase in the average real income per capita over a long period of time, and the moral value of members of society. 4-Implementing a social system that aims to expand the options available to citizens throughout their successive generations C: The relationship between economic security, economic policy and investment Economic security is considered one of the most important topics that contribute to directing economic policy, achieving economic development, and encouraging investment, and they may be combined or unique in one country without another, with regard to the increase or decrease in national income. Lack of security leads to the lack of correct use of resources or their neglect, and also leads to... Poor distribution of income and increased poverty and unemployment, which affects the achievement of economic development, which plays an essential role in achieving security by raising the standard of living, developing sectors, and justice in distribution. Therefore, it is not possible to separate economic security from economic development due to the close interrelation between them, as there cannot be Economic security without economic development and vice versa19. There is a direct relationship between economic security and the economic development that economic policy aspires to achieve, which helps encourage and promote investment. This is because when economic security is available, the contribution to achieving economic development increases, which helps in the presence of security and stability. There is also an inverse relationship between corruption and economic security. Among economic development, the greater the

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MENASRIA Hanene 297 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment corruption, the lower the rate of development, and the less corruption, the greater the rate of development and the availability of security and stability. Economic development has an impact on achieving economic security and promoting investment in order to improve and increase the standard of living, provide job opportunities, ensure equality, develop the skills of the workforce and information and communications technology, and efficiently use and protect economic resources20. Section II:The effects of economic security on financial and economic policy to encourage investment The financial and economic policy of countries is affected by the availability of elements and components of economic security, as this leads to the encouragement and promotion of investment, as there is a direct relationship between them, and this will be presented through the following: A:Fiscal policy and income distribution When the previously mentioned elements of economic security are available, their impact on the distribution of income appears, which is considered one of the most important goals of financial policy, and perhaps even surpasses them all. This is because the distribution of income is of great importance in determining the groups or classes that have control over the national economy, especially under the capitalist system, wherever it may be. Economic activity is confined to the hands of the organizers of major projects and those who, with their high incomes, were able to invest in various fields. For this reason, the government works to adapt the pattern of income distribution by making changes in the types and rates of spending, as well as the taxes it collects from various income brackets. For example, it can work to increase the percentage of income that goes to individuals with the lowest incomes, by reducing the percentage of taxes imposed. It can also work the government seeks to reduce the relative income of individuals with higher incomes, by increasing the tax burden and reducing direct expenditures that work directly with their income position, as the average monthly per capita income in Algeria reached about 256 dollars, ranking it 13th in the Arab world, according to the classification of the number website, which included 104 Arab and foreign countries. The first place in the world went to Switzerland, and in the Arab world, Qatar topped the group21. Average monthly per capita income for some Arab countries Source: See the website: https://www.numbeo.com/ Date of visit: 5/24/2023 at 15:00 pm.

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MENASRIA Hanene 298 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment B :Fiscal policy and price levels Prices play a vital role in the economy in determining the types of activities that individuals accept, as well as the total amount of economic activity in society. The price system was not important in socialist countries because economic activity was subordinate to central planning committees - this was previously -, but now financial activity works on... Changing the relationship between purchasing power and the quantity of goods and services, which has an impact on the level of prices. It can also change the relative prices of various goods and services, which affects the quantity of production. C:Financial policy and the level of public consumption Many economists consider that consumption is the goal of all economic activity. Another difference believes that it is the motive or engine of every economic activity. Whether we support the first or the second idea, and they are closely related to each other, it is no wonder that consumption occupies a prominent place in our economic system. Therefore, Fiscal policy works to adapt the spending and revenue policy. The latter leads to adapting the consumption pattern, and therefore the goal of fiscal policy is to increase the degree of total satisfaction. Hence, the government can, for example, reduce sales taxes and production fees on necessary goods, which leads to expanding the total consumption base. And vice versa, the government can improve the consumption pattern by granting subsidies to producers of some goods, and providing low-income people with cash subsidies22. There is no doubt that monetary policy, while working to distribute income, contributes to solving an economic problem, which is raising the level of public consumption in societies. D:Financial policy and employment level Full employment of human resources and all productive resources is considered one of the most important factors determining the standard of living in advanced societies. Here we notice a clear paradox. In capitalist societies, private investment dominates, and therefore the role of financial policy is limited to creating an environment conducive to the prosperity and growth of private investment. However, in socialist societies Previously, public investment dominated as a factor in balancing the economy, and therefore fiscal policy became obligated to provide the necessary financial resources for public investments. Section III: repercussions of economic security on financial and economic policy to encourage investment Economic security is reflected in economic policy by controlling its financial policy to finance economic policy, relying on several sources, the most prominent of which are: A :Increase resources Which is, working to increase revenues to cover expenses regardless of their quantity and type, which are often tax revenues in various ways: * Improving collection methods: There is no doubt that improving collection methods, reducing tax evasion, and collecting tax arrears all lead to a significant increase in the outcome. * Raising the tax rate: The government can achieve revenue by raising the tax rate, provided that the increase is acceptable and does not lead to direct harm or serious impact on members of society and the goal to be achieved, which is economic development and security.

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MENASRIA Hanene 299 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment * Public expenditure pressure: The government can generate revenues by avoiding wasteful spending of public funds. * New tax resources: The government may seek to impose new taxes that take into account the reduction in collection costs and the lack of harm to economic activity. * Avoiding double taxation, evasion and tax fraud: International tax agreements have been concluded with Arab, African, European, Asian and American countries. * Establishing facilities: A payment schedule has been created for people who are unable to pay their tax debts. As for people whose debts have accumulated, the government has granted facilities in the Finance Law of 2017 and 2021, especially Articles 90 of the Finance Law of 2017, and Article 75 of the Finance Law of 2021. B: Internal loans The state issues loans to individuals with the aim of enabling them to contribute effectively to the advancement of their economy and facilitating safe investment for them. The state can also resort to bank credit to contribute to financing economic policy by urging the bank to provide facilities to various sectors of the economy. The Algerian Development Bank was restructured and the National Investment Fund was established to fulfill many requirements that suit development that are not covered or covered in an unsatisfactory manner. It may be mentioned here: * The lack of investment financing supply, especially at the long-term level * Lack of banking and financial intermediation. * Absence of assistance services, especially for project promoters and investors. In this context, a project was activated to restructure and transfer BGT to the National Investment Fund in order to allow it to assume a share of these needs and finance economic investment projects. C :External financing That is, the state works to increase diversification in its exports as much as possible, or by encouraging foreign investments in the event that it is impossible to create strong local investment, as well as the loans that the state contracts from other countries or the International Monetary Fund, which are urgent options, that is, as we say, which is easy and impossible, because the International Monetary Fund is in our time. The current and clearly synonymous with the gallows box, and the goal of economic policy and its close connection with financial policy is to reach the process of economic integration, which is an absolutely necessary process, and its absence causes the economy to become dysfunctional and turbulent because this process achieves for us the following23: 1- Self-sufficiency. 2- The independent, non-dependent economy. 3- Solve the market problem. 4- Stay away from economic diseases. 5- Achieving progress, diligent development and leadership in technology. 6- Achieving integration in expertise, minds, and capital as well.

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MENASRIA Hanene 300 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment 7- Achieving food security. In this context, Algeria ranked fifth in the Arab world in the World Food Security Index for the second quarter of 2022, according to the Deep Knowledge Analytics report. Algeria is working on preparing a plan to reorganize the agricultural sector within several initiatives aimed at intensifying its efforts to ensure food security, especially in the field of grains, in light of the international changes that have occurred. This file is witnessing a plan to expand agricultural lands to produce fodder while adopting the use of modern technical means and fertilizers to increase agricultural areas. Agriculture contributes 12.3 percent of the gross domestic product in Algeria in 2021, according to the World Bank. The Minister of Agriculture, Abdel Hafeez Hani, mentioned in previous statements that the value of agricultural production It increased during the year 2022 by 38 percent compared to 2021. He said that Algeria is able to achieve self-sufficiency in grain production and thus reduce the import bill, which has already been recorded. Conclusion In response to the problem at hand, it becomes clear to us the extent of the overlap between economic security, financial and economic policy, and investment. They both influence and are affected, forming a direct relationship between them. This is because the lack of economic security leads to the lack of optimal exploitation of countries’ financial and economic programs and policies and prevents access to the foundations of economic security, which is reflected in groups. And individuals alike. The opposite is true. The availability of economic security, with all its previously mentioned elements, is positively reflected in the various financial and development programs and policies governed by countries, which leads to the promotion and encouragement of investment. This will not be achieved except after the combined efforts of three parties: the government, economic and social institutions, and individuals. Through this topic, the following most important results were reached: - Economic security is considered one of the most important pillars of human security, given the importance of the economic factor and its interference in various areas of life. It is not possible to talk about human development in terms of health, food, and education except in light of a sound economy. - Economic security is based on taking necessary measures to protect the national economy from the dangers of economic globalization, and thus working to secure stability in the economy at the national, regional and global levels, because instability will negatively reflect on human security and put it in a constant state of threat. - Fiscal policy is a process aimed at organizing spending and revenues in the national economy for the purpose of achieving the objectives of economic policy represented in achieving economic development. - Fiscal policy is an important mechanism used by contemporary economies to monitor revenues and expenditures in a way that can achieve the goals of economic policy. - Economic security is considered one of the most important topics that contribute to directing economic policy, achieving economic development, and encouraging investment, and they may come together or be unique in one country but not another, with regard to the increase or decrease in national income. - Economic development has an impact on achieving economic security and promoting investment in order to improve and increase the standard of living, provide job

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MENASRIA Hanene 301 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment opportunities, ensure equality, develop the skills of the workforce and information and communications technology, and efficiently use and protect economic resources. Through this topic, the following most important suggestions were reached: - The necessity of working more to achieve the desired goals of economic policy, as achieving them leads to encouraging economic development, which has an impact in achieving economic security and promoting investment in order to improve and increase the standard of living. - Taking measures to protect against the risks of economic globalization, and thus working to ensure stability in the economy at the national, regional and global levels. - The necessity of enacting laws that clarify the concept of economic security and the concepts associated with it and their relationship to each other. Citations: 1 - Ibn Manzur, Lisan al-Arab, first edition, Cairo Publishing House, Egypt, 2003, p. 164. 2 - Mustafa Mahmoud Manjoud, Political Dimensions of the Concept of Islamic Security, International Institute for Islamic Thought, Cairo, Egypt, 1996, p. 37. 3 - Tabani Wahiba, Mediterranean security in NATO’s strategy, a case study of the phenomenon of terrorism, Master’s thesis in political science, specializing in Mediterranean and Maghreb studies, security and cooperation, Faculty of Law and Political Science, Mouloud Mammeri University, Tizi Ouzou, Algeria, 2017, p. 20. 4 - Moussoua Ahmed, Barkno Nasira, Arab Economic Security, Reality and Challenges, Al- Riyadah Journal of Business Economics, Volume 02, Issue 02, June 2016, p. 70. 5 - Ibid., p. 71. 6 - Idris Attia, Challenges of Algerian economic security in light of globalization, Journal of Social and Human Sciences, University of Batna, Algeria, Volume 20, Issue 02, December 2019, p. 134. 7 - Ibid., p. 135. 8 - Khababa Abdullah, Financial Economics between Theory and Practice, New University Publishing House, Alexandria, Egypt, 2016 edition, p. 26. 9 - Ibid., p. 27. 10 - Ibid., p. 31. 11 - Muhammad Ali Sweilem, Investment Tools in the Stock Exchange (A Comparative Study), University Press House, Alexandria, 2013, p. 11. 12 - Ibid., p. 12. 13 - Ibid., p. 13. 14- Order No. 01-03 of August 20, 2001, relating to investment development, Official Gazette No. 47, issued on August 22, 2001, amended and supplemented.

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MENASRIA Hanene 302 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment 15 - Law No. 16-09 corresponding to August 3, 2016 relating to investment promotion, Gazette No. 46 corresponding to August 3, 2016. 16 - Law No. 22/18 of July 24, 2022, relating to investment, Official Gazette No. 50, dated July 28, 2022. 17 - Duraid Muhammad Al-Samarrai, Foreign Investment, “Obstacles and Legal Guarantees,” first edition, Center for Arab Unity Studies, Beirut, 2006, p. 120. 18 - Abu Qahf Abdel Salam, Policies and Different Forms of Foreign Investments, Youth University Foundation, Cairo, 2000, p. 50. 19 - Duraid Muhammad Al-Samarrai, op.cit , p. 122. 20 - Idris Attia, op.cit , p. 134. 21 - Abdel Hakim Sayed Ibrahim Salman, Mutual Influences between Economic Development and Economic and Social Security, “A Comparative Study of Islamic Thought”, Master’s Thesis, Institute of Islamic Studies, Egypt, 2005, without page. 22- The prevailing concept of tax is that it is a forced monetary deduction that falls on the responsibility of persons, whether natural or legal, that the public authority expects, once and for all, and without compensation, in order to cover the costs of the public benefit of the state and public groups, and the implementation of state policy.... Quoted by Mahfouz Barrahmani, Public Finance in Algerian legislation, New University House, Egypt, 2015, p. 77. 23- Khababa Abdullah, op.cit , p. 30. Bibliography: A. Legal texts: -Laws: 1- Ordinance No. 01-03 of August 20, 2001, relating to investment development, J. O. R. D. P No. 47, issued on August 22, 2001, amended and supplemented. 2 Act No. 16-09 corresponding to August 3, 2016 relating to investment promotion, , J. O. R. D. P No. 46 corresponding to August 3, 2016. 3- Act No. 22/18 of July 24, 2022, relating to investment, Official Gazette No. 50, dated July 28, 2022. B. The books: 1- Ibn, Manzur,2003, Lisan al-Arab, first edition, Cairo Publishing House, Egypt. 2- Abu Qahf, Abdel Salam,2000, Policies and Different Forms of Foreign Investments, Youth University Foundation, Cairo. 3- Khababa, Abdullah,2016, Financial Economics between Theory and Practice, New University House, Alexandria, Egypt. 4- Duraid Muhammad,2006, Al-Samarrai, Foreign Investment “Obstacles and Legal Guarantees,” first edition, Center for Arab Unity Studies, Beirut.

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MENASRIA Hanene 303 Fiscal and Economic Policy as a Framework for Achieving Economic Security and Promoting Foreign Investment 5- Mahfouz ,Barrahmani,2015, Public Finance in Algerian Legislation, New University House, Egypt, 2015. 6- Mustafa, Mahmoud Manjoud,1996, Political Dimensions of the Concept of Islamic Security, International Institute for Islamic Thought, Cairo. C. theses: 1- Idris, Attia,2019, Challenges of Algerian economic security in light of globalization, Journal of Social and Human Sciences, University of Batna, Algeria, Volume 20, Issue 02, December. 2- Tabani ,Wahiba,2017, Mediterranean security in NATO’s strategy, a case study of the phenomenon of terrorism, Master’s thesis in political science, specializing in Mediterranean and Maghreb studies, security and cooperation, Faculty of Law and Political Science, Mouloud Mammeri University, Tizi Ouzou, Algeria. 3- Abdel Hakim, Sayed Ibrahim Salman, 2005, the mutual influences between economic development and economic and social security, “A comparative study of Islamic thought”, Master’s thesis, Institute of Islamic Studies, Egypt. D - Newspaper articles: 1- Musa’a, Ahmed,2016, Barkno Nasira, Arab Economic Security, Reality and Challenges, Al- Riyadah Journal of Business Economics, Volume 02, Issue 02.

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