The backbone of any national economy is its stock of infrastructure. Sound transport networks and modern ports reduce transportation costs. High-capacity telecommunication networks facilitate fast communication and efficient flow of information. Pipelines for oil and gas ensure constant energy supply and export, while ample generation capacity and functioning transmission and distribution networks secure disruption-free production of goods and provision of services. All these components of infrastructure also contribute significantly to the well-being of the population, the productivity of the workforce, and facilitate broader access to education and health services.
According to international benchmarks, more developed countries typically have ‘core infrastructure’ stock (roads, rail, ports, airports, power, water, ICT) equal in value to about 70 per cent of GDP, with power and transportation infrastructure usually accounting for at least half of the total value.