The forecast is based on the assessment of the domestic economy's real possibilities, and Kozaric told reporters that in 2014 GDP growth would have been even higher than the 0.7% achieved if it had not been for the disastrous floods that hit the country in May last year.
"Our forecasts are lower than those of the International Monetary Fund (IMF), for instance, which projects a growth of 3%. All the resources that exist in BiH, from the electricity power sector to food and tourism should boost economic growth," Kozaric said.
He added that forecast for 2014 had been around +1.6%
This year, the country expects a significant growth in industrial production of around 4.5% to 5%.
"The biggest problem facing BiH is the continuing high unemployment rate which was 27.5% in 2014 and in 2015 could be around 27%," Kozaric said.
According to central bank figures, BiH's foreign debt is around 8.12 billion convertible marks (4.15 billion euro) or 31% of GDP.
Kozaric underscored a positive aspect with the continuous growth in foreign currency reserves which currently amounts to 7.8 billion KM (3.98 billion euro) at the end of 2014 or 11% higher than at the end of 2013. "We have the highest foreign currency reserves since the establishment of the Central Bank," Kozaric said.
He added that the total value of the central bank's portfolio amounted to 139.9 million KM (around 71 million euro) and that the bank had made a profit of 35.4 million KM (17.9 million euro).
Kozaric said that commercial banks in the country continued to make a profit and in 2014 recorded a profit of 167 million KM (85.4 million euro).
"The banking sector in BiH is well capitalised and solvent, however there is around 14% of bad loans which is the greatest problems facing the banking sector," Kozaric added.