Kozarić and Ferguson Held a Meeting: Reform of the Business Environment in BiH is Necessary

Governor of the Central Bank of Bosnia and Herzegovina, Dr. Kemal Kozarić, met today with his associates and the Ambassador of the United Kingdom to Bosnia and Herzegovina, H.E. Edward Ferguson, with whom they discussed economic trends in Bosnia and Herzegovina, reports the BiH news agency Patria.

It was concluded in the discussion that all levels of government in Bosnia and Herzegovina must make their full contribution to reducing the unemployment rate of 27.5%, which is one of the highest in the region and currently the biggest problem of the BiH economy.

- Comprehensive reforms of the business environment are necessary to stimulate investments, which bring new jobs, and investors must have security, political security, and business environment security, because without that, there will be no investment - said the governor.

The British Ambassador confirmed that a comprehensive reform of the business environment must be a priority for the authorities, but that the implementation process must be carried out thoughtfully and carefully in order to maintain a balance between revenue and expenditure.

- The public must be adequately informed about all steps and their meanings, because reform processes often touch upon socially sensitive issues, and we must be sure that the public understands the meaning of each undertaken activity and its goal - added Ambassador Ferguson, who once again confirmed that the government of the United Kingdom will continue to provide support to Bosnia and Herzegovina on its European path.

Ambassador Ferguson and Governor Kozarić also exchanged views on macroeconomic indicators for 2014.

- We have had an extremely difficult year behind us, which is why we have significantly reduced our initial forecasts, but the mere fact that we still ended the year with a GDP growth of 0.7%, and that in 2015 we expect a GDP growth rate of 2.5% and an industrial production growth rate of 5.0%, gives reason for mild optimism - said the governor.