Abstract:

Innovation in countries promotes economic growth, competitiveness in the international market, improves living standards and develops society. The basic indicator used to support business innovation in a country is R&D expenditure. In this context, the paper uses data on the level of R&D expenditure and compares it internationally in terms of different funding sectors. The paper follows one of the 17 strategic objectives of the 2030 Agenda, which aims to build resilient infrastructure, promote industry and foster innovation. Overall, this agenda is concerned with sustainable development, improving living standards and overall prosperity in the world. The analysis is based on the indicators applied by Eurostat to monitor the implementation of Goal 9 of the 2030 Agenda. These indicators include the number of researchers and the share of R&D expenditure. Based on the data available between 2002-2021, a projection of each indicator until 2025 has been made. The results obtained through the forecast can be used in the coming years to examine the direction of the observed changes also from the perspective of individual EU Member States in the application of innovation in the implementation of sustainable development policy