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The European Commission says that Croatia is ready to join the eurozone and introduce the euro as its official currency on January 1 next year.
This, according to the Commission, would strengthen the country’s economy and bring benefits to citizens, businesses and society as a whole.
“We welcomed Croatia into the union in 2013. Now, we have come to the conclusion that it is ready to use our common currency from January 1, 2023.”– said Paolo Gentiloni, European Commissioner for Economy
The EC assessments are that Croatia generally meets all the criteria in terms of price and exchange rate stability, budget management and long-term interest rates.
It can now become the 20th member of the eurozone, but on the recommendation of the Commission, the heads of state and government of other bloc countries must also agree. Once this step is taken, expected in June, EU finance ministers are expected to set around July the exchange rate at which the Croatian currency – the kuna – will be converted on 1 January 2023.
The strong tourism sector in Croatia is eagerly awaiting the introduction of the euro and has high expectations. But at the same time many Croats fear that the cost of living could rise significantly as a result of converting to the euro.
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