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COMPARATIVE ANALYSIS OF CAPITAL EXPENDITURES IN SOUTHEAST EUROPE
Abstract
Capital spending is the most productive part of public spending. Investment in electricity, water supply, roads and telecommunications have played a significant role in economic growth in developed countries, and also in developing countries. The lag in infrastructure development, especially road infrastructure can not be explained only by the lack of capital to support the development and financing of infrastructure, but the reason is the lack of government strategy in the insufficient care for the lost opportunities and priorities that imposes development infrastructure in internal and international relations. Sponsored by the lack of domestic sources could be offset by foreign borrowing, providing funds through co-financing by private investors or by issuing concessions for certain priority infrastructure projects. Infrastructure development in the country enables timely, efficient, and a functioning use of public good from the old economic entities and the population, improving the volume, quality and availability to the users of public goods, and at the same time provides the necessary prerequisites for successful realization of commitments set policies for general social and economic development of the country. The role and importance of developing public infrastructure, in terms of economic development is significant and multiple. Infrastructure development affects directly and indirectly on economic development, manifesting by improving communication links, timely access to information, timely and quality supply of needed energy and water, affecting the improvement of competitiveness, the economy, the profitability of domestic economy etc.
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