There is growing interest in governance

frameworks in general, including multi-level

economic governance in particular and the

related international standards, indicators and

classifications associated with it, particularly

in 2023. In fact, the global and regional scene

is characterized by ambiguity due to political

events (including the conflict between great

powers over the areas of influence and global

resources), which resulted in complicated

effects, particularly in the aftermath of health

crises and global pandemics, which produced

the current socio-economic challenges. These

are represented in the occurrence of enormous

inflationary waves, increase in the prices of

raw materials, commodities, products, fuel

and energy, as well as increase in the freight

and transport prices, the lending cost, debts

together with the surges in foreign exchange

rates, accompanied by the fear of entering into

an economic recession and low growth and

employment rates. There are also the severe

climatic-environmental fluctuations, which have

caused economic and societal losses and other

factors that affect economic stability and social

cohesion globally and locally.