ECONOMIC PERFORMANCE OF THE ECONOMY OF BOSNIA AND HERZEGOVINA

Radojko Lukić ()
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Radojko Lukić: University of Belgrade

BH Ekonomski forum, 2023, vol. 18, issue 1, 11-31

Abstract: The issue of analyzing factors of the dynamics of the economic performance of every economy, which means Bosnia and Herzegovina as well, is continuously very current, challenging, significant, and complex. Adequate control of key factors can significantly influence the achievement of the target economic performance of the economy of Bosnia and Herzegovina. The application of multi-criteria decisionmaking methods enables adequate control of the key factors of the economic performance of the economy of Bosnia and Herzegovina. Bearing that in mind, this paper analyzes the dynamics of the economic performance of the economy of Bosnia and Herzegovina in the period 2013 - 2022 based on the LMAW-DNMA method. The top five years according to the economic performance of the economy of Bosnia and Herzegovina according to the LMAW-DNMA method are in order: 2018, 2019, 2017, 2016, and 2015. The worst economic performance of the economy of Bosnia and Herzegovina was achieved in 2020. Lately, in general, it has significantly improved the economic performance of the economy of Bosnia and Herzegovina. This was influenced by adequate management of the analyzed statistical variables (gross domestic product, inflation, agriculture, industry, export, import, capital, income, taxes, time required to start business - days, and domestic loans provided by the financial sector). Likewise, the geopolitical situation, the economic climate, foreign direct investments, the COVID-19 pandemic, the energy crisis, the digitalization of the company's entire operations, and other factors. In any case, their adequate control can greatly influence the achievement of the target economic performance of the economy of Bosnia and Herzegovina.

Keywords: performance; economy; Bosnia and Herzegovina; LMAW-DNMA method (search for similar items in EconPapers)
Date: 2023-12-22
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