Theoretical aspects of macroeconomic forecasting

Forecasting of macroeconomic indicators is one of the main elements of macroeconomic policy and performs a number of important economic and political functions. When making economic and political decisions need to be aware of the future to limit the possible variants of economic policy, and also to get some criteria, enabling to evaluate the quality of these decisions later. From this point of view we can say that the macroeconomic forecasting plays an important monitoring function.