Forecasting economic growth is critical for formulating national economic development policies. Neural Networks are a type of artificial intelligence that may be used to model complex target functions. ANN (Artificial Neural Networks) are one of the most effective learning approaches now available for specific sorts of tasks, such as learning to understand complex real-world sensor data. This paper proposes the regional economic prediction model based on neural networks techniques. Bayesian vector neural network (BVNN) is integrated with backpropagation (BP) model. The database has been collected based on the economics of particular region which has been extracted and classified using knowledge-based computer analysis by neural networks. Discretization, reduction, importance ranking, and prediction rule are attributes considered here. Then, as the input training sample, feed extracted important components into the NN. This strategy enhanced the training speed and prediction accuracy by reducing structure of NN. WEO, APDREO, and AFRREO are the dataset and FWA-SVR and LSTM are the existing method taken for comparison. For the WEO dataset, 97% of GDP and 98% of accuracy are produced. For APDREO dataset, 92% of accuracy and GDP of 97% are obtained. For AFRREO dataset, 98% of accuracy is produced. The neural network can tackle nonlinear problems, according to experimental data, and the technology has been proven to be successful and viable with high accuracy. For practical application, the model has a good reference value. The proposed model reduces error by increasing the convergence rate and accuracy for each dataset.
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