Sustainable development or Balanced development is a concept of the development which meets the needs of current generations without compromising the ability of future generations to meet their own needs. Concept is based on principles of:

• powerful development of economies and societies
• protection of natural resource base and enviroment.

These principles are the basis for the sustainable (balanced) development of the world economy in order to diminish the gap between developed and underdeveloped economies and societies, without or with minimal damage to the environment and maximize the preservation of natural resources.