Funding of the priority areas of sustainable development: state and trends of mobilization of domestic public resources in developing countries

Kozhukhova, Tetiana and Кожухова, Тетяна Валеріївна and Кожухова, Татьяна Валерьевна (2016) Funding of the priority areas of sustainable development: state and trends of mobilization of domestic public resources in developing countries. Економіка та держава (12). pp. 27-31. ISSN 2306-6806

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Abstract

In the article the current state of the priority areas of national public funding of sustainable development has been investigated. It has been determined that during the period between 2012 and 2014 the largest share of public spending in developing countries was directed to the education sector (14.6%). It has been found out that the share of public funds allocated to the health sector was 7.6%, to the agricultural sector was allocated 2.8%, to the social security — 1,9%, to water supply, sanitation and hygiene — 1.2%, to environmental protection — 0,5%. The tendencies of growth of public spending in all priority areas of sustainable development in the least developed countries have been found out. The implementation by the governments in developing countries of the national allocation targets set at international and regional levels has been analyzed. The greatest gap between targets and actual allocation of public funds is observed in the sector of social protection (89%), agriculture (72%) and water supply, sanitation and hygiene (70%). The necessity of activation of mobilization of both domestic and international financial resources to achieve sustainable development goals has been identified.

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