Evaluation of The Macroeconomıc Performance of Selected European and Central Asian Countries by CILOS Based AROMAN Method

Macroeconomic Performance

Abstract

In this study, it has been aimed to compare the macroeconomic performances of selected European and Central Asian countries (Ukraine, Turkey, Russia, Azerbaijan, Armenia, Germany, Uzbekistan and Greece) for the period 2019-2021. In the performance measurement, a total of 5 indicators have been used as GDP growth, GDP per capita, Imports of goods and services, Exports of goods and services, and unemployment. CILOS method has been used to calculate the weight values of the criteria. The calculation and ranking of the performance values of the countries according to the criteria has carried out with the AROMAN method. According to the results of the analysis, the countries of Germany, Turkey and Armenia have identified as the best performing countries in terms of macroeconomics for 2019, 2020 and 2021, respectively. On the other hand, Russia has the worst performance for 2019; It has been understood that the country with the worst performance for 2020 and 2021 is Germany. When a general evaluation is made in terms of macroeconomic performance by taking the geometric average of the performance rankings of the countries on a yearly basis, it is revealed that Russia has the best performance and Armenia the worst.