Why is transparency important in government economic decisions?
Answer (1)
Transparency means that government actions, especially about money and economic policy, are open to the public and can be clearly explained. It’s important because it builds trust between the government and the people. When citizens know where their taxes go and how money is spent, they are more likely to support policies and follow laws.Without transparency, corruption can grow. Funds might be misused, and projects may not be completed. For instance, in the past, some infrastructure projects were started but not finished because funds were stolen. This wastes time and resources that could have helped poor communities.Transparency also helps investors. When foreign and local businesses see that a country is honest with its finances, they are more willing to invest. That creates jobs and strengthens the economy. Transparency is not just a good value, it’s a practical tool for better economic performance.
