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Current Challenges in Allocating Financial Resources for Public Investment

Abstract Public investment projects must be linked to the priorities of Cohesion Policy and the Sustainable Development Strategy, highlighting the importance of the investment process and the allocation of funding sources. Therefore, steps such as the evaluation, selection and prioritization of public investment projects are key elements in the public investment process, in order to create a stronger and more sustainable future in the face of crises. This paper aims to clarify some issues related to the current challenges of allocating financial resources for public investment in the context of global economic crises. Public investment management makes the difference in making quality public investment and progress in achieving sustainable development goals. However, the present reality shows that ensuring the efficient management of public investment projects will always encounter difficulties, of which the most threatening are considered to be represented by global economic crises and more recently by the COVID 19 pandemic crisis, through their widespread effects on economies. Therefore, strengthening public investment management must be a priority in public investment policies to maximize the impact of available public resources.