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Macro economic parameters

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  • In this study eight macroeconomic indicators including gross domestic product (volume, NGDPD), gross national savings (NGSD_NGDP), inflation (average consumer prices, PCPI), population (LP), total investment (NID_NGDP), unemployment rate (LUR), volume of exports of goods and services (TX_RPCH), volume of imports of goods and services (TM_RPCH) were used for forecasting.

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  • Economic performance evaluation problem consists many criteria and sub criteria. Therefore it is a kind of multi-criteria decision making (MCDM) problem. It is very important for a country to monitor performance parameters in order to ensure that appropriate and timely decisions and plans can be made. Suitable performance measures can ensure that governments adopt a long-term perspective and allocate the country’s resources to the most effective activities. Fragile five (F5) countries namely Brazil, Turkey, India, Indonesia and South Africa have large and fast growing economies.

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