The Determinants of Sustainable Development Issues and Their Interrelationships (A Study from an Emerging Country)

Objectives: This study tries to explore the factors influencing sustainable development and their interrelationships. Theoretical framework: The conceptualization of economic policy has a complex description, and in middle-income countries, the participation of government and other public institutions is necessary in the formulation of strategies to overcome development sustainability issues. Methods: A multivariate regression model was used to analyse data from 2005–2022, focusing on the relationships between the factors and development sustainability. Results: Significant relationships were found between the factors such as tax ratios, deficits, economic growth, and human development indices among their interrelationships, respectively. While other factors like the debt ratio to economic growth, and the others had no significant impact. Research implication: The implication is that the government prefers certain discretion to enhance debt policy and maintain sustainable economic development, for which the most prudent mitigation and solution at every step to solve the problems. Originality/Value: The research results can serve as a basis and use for future research to identify some factors that can be determined by various elements of sustainable development, promoting and disseminating knowledge for adequate solutions.