 Sustainable Development Goal number 16, why is peace crucial for economic development? A country in peace can undertake policy for a healthy economy through its supporting institutions. This leads to economic development. These institutions can be harmed in the event of a war, which harms the economy. But how exactly does this work? For example, a country undergoing a war suffers from death, disability, disease, displacement of population, and poverty. Wars also destroy infrastructure as well as financial and human capital. Thus, wars and armed conflicts hinder a country's institutions from contributing to economic progress. Additionally, slow economic development increases the risk of armed conflict. This is because poverty and economic stagnation can marginalize people who could turn to violent activities. On the other hand, a country in peace can strengthen its institutions. This supports sustainable economic growth, which in turn reduces the chances of armed conflict. What we can observe is that peace and economic development are dependent on each other. The absence of peace weakens institutions, which in turn slows down economic development. And slow economic development decreases the likelihood of peace. Peace and economic development cannot exist without each other. This is why the Sustainable Development Goal No. 16 is so important. Peace, justice, and strong institutions are crucial for people's well-being and economic development. Want to learn more about the Sustainable Development Goals? Check out the link below.