Some people believe that a countries economy will improve if people spend money,where as others believe that it will only improve if people save money. Discuss both veiws and give your openion.

It is believed by some that the economy of a nation will grow if people expend money, while there are others who think that it will progress only by saving money. In my opinion, I believe that spending money by people is important for the development of a country, but saving money is more beneficial and sustainable. On the one hand, citizens who are wealthy businessmen can spend money for development of a nation by means of, investments for new projects. Moreover, the taxes paid by them, generate massive revenue for the government and this money subsequently can be utilised for the development of infrastructures. For example, Middle East countries were developed owing to the money they earnt by petroleum mines. On the other hand, when people deposit money in banks, it will invariably increase revenue for the authorities. The money in the banks can be utilised for development projects and to establish infrastructures and can be distributed among citizens as low-interest loans in order to start new businesses. In addition to this, the attitude of saving money and resources, will empower the population and this indirectly leads to minimizing the wastage, which would be beneficial in long run. For instances, in countries with large bank deposits resource wastage seems to be less in contrast to the others. In conclusion, although, it is evident that spending money is important for the development of a country, saving money is much more beneficial and sustainable method.