Last year the economy contracted for the sixth year in a row, by 0.4%, Vujcic said at the start of the two-day 18th Croatian monetary market conference in Opatija.
In 2014, investments decreased by 4% and state spending by 1.9%, primarily due to fiscal consolidation measures, Vujcic said, adding that economic recovery was anemic and occurring against the backdrop of high foreign indebtedness, pronounced macroeconomic imbalances and structural shortcomings of the national economy.
The end of last year saw the beginning of a mild recovery, which continued at the beginning of 2015, he said.
"Judging by the pace of the indicators, it seems that more favourable trends could prevail in the months ahead," Vujcic said, adding that the central bank expected GDP to grow 0.4% this year.
The European Commission on Tuesday increased the forecast of Croatia's economic growth this year from 0.2 to 0.3%, while on Wednesday the International Monetary Fund said it expected a growth of 0.5%.