give reason why public sector play an indispensable tool for development of the country
Answers
The striving for sustainable development has become the goal of actions undertaken
not only by representatives of public authorities and institutions representing this sector, but also
representatives of private entities who are increasingly recognizing the benefits and sources
of long-term development based on the principles and objectives of sustainable development.
These are mainly based on the pursuit of synergy in the three basic areas of activities, i.e., in the
economic, social, and environmental dimensions as well as in the maintenance of natural resources.
The implementation of these activities is connected with the necessity of incurring financial
expenditures, which the government (public sector) does not have in the required value. Therefore,
in the process of sustainable development for which the government is responsible, the active
participation of the financial sector (banks) is necessary. Achieving results within the alliance
of the concept of sustainable development requires the setting of a kind of contract, the parties
of which are the government, society, and financial institutions. The purpose of the conducted
research is to indicate by which means the government can stimulate economic growth towards its
sustainable development.