Question

How does financial resource affect the development of a country​

Answer 1

Answer below

Step-by-step explanation:

The development of a country is affected by financial resourses as the financial resources help grow a country thorugh different ways such as providing jobs which reduces poverty. Financial resources can also help reduce the debt a country has in such a way that countries will be able to pay for its debt using money it gets from that resource take for example tourism. We can use money from tourism to pay debts and toursim can also provide jobs.

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Answer 2

Developing countries must mobilize domestic resources for development. National budgets contain potential for savings and redistribution. Governments can make additional resources available for sustainable development by reforming their tax systems and eliminating harmful subsidies and unproductive expenses. Of course, when dictators send billions to secret bank accounts, and when wealthy citizens send their savings overseas, they drain domestic financial resources, undermining the basis for development. This page posts articles on the challenges and opportunities of mobilizing domestic resources for development.