REGIONAL DEVELOPMENT AND ECONOMIC GROWTH APPROACH IN EUROPE AND GCC COUNTRIES

The research paper starts from the reality that each country faces challenges in the balanced economic development of its territory. Inequalities in the levels of development of the regions of a country have arisen either as a result of changing economic conditions, the development of economic areas, and the entry of others into decline, either as a result of the concentration of economic growth in certain regions or economic sectors or by the existence of regions sparsely populated or with resources largely derived from primary sectors that have not been able to maintain economic development or social infrastructure at a satisfactory level. The issue of creating a regional development policy started in European structures and spread around the world. The research has shown that economic development is being approached differently in Europe and Middle East. The author concluded that the difference in the solution of the regional differences is related to the state economic sovereignty and to the state's involvement in the economy, as well as to the facilitation of the interregional financing or to the provisions of the economic development agreements concluded.