A Different View on the Country’s Sustainable Development Indicators – Latvia’s Example

Abstract

Abstract The contemporary scientific and technical community claims that the new development paradigm will be based on the priority of the universal laws of nature, the principles of ecological economics and the widespread use of digital transformation. The analysis of the sustainable development strategy Latvia 2030 and the presented changes in the value of indicators showed that, it is quite difficult to put together a common unified picture of Latvia’s movement towards sustainable development. The main goal of the article is to present a new approach to the assessment of sustainable development and to monitoring system, using a system’s power changes analysis method. In the context of a Latvian sustainable development strategy, the authors presented the results of the formalisation of new approach to the sustainable development monitoring, using an invariant coordinate system in units of power (energy flow) in compare with calculated data in monetary terms. Calculations and the initial interpretation of the results of Latvia as well as of the five EU countries from the Baltic Sea region – Denmark, Sweden, Finland, Estonia and Lithuania – were carried out for the period 1990.-2019. The presented indicators of sustainable development show that achieving the strategic goals of Latvia 2030 would be very difficult without any serious internal and external incentives. The results can provide a basis for creation of the development strategy both the country as a whole and each region separately.