Cheraw Chronicle

Complete News World

Croatia could introduce the euro next year

Croatia could introduce the euro next year

The European Commission says Croatia is ready to adopt the euro from January 1 next year.

In a report released yesterday, the European Commission ruled that Croatia meets all the criteria for joining the eurozone. Zagreb has government debt and budget deficit under control and also respects all conditions regarding inflation, stable exchange rate and long-term interest rates. The report was compiled on the basis of data that largely preceded the Russian invasion of Ukraine.

Pressure builds on the European Central Bank after new inflation records

Croatia became the last new member state of the European Union in July 2013. Less than a decade after accession, Croatia is preparing to join the eurozone on January 1. European Commission President Ursula von der Leyen said this will boost the Croatian economy and bring benefits to its citizens, businesses and society as a whole.” She believes that twenty years after the introduction of the single European currency, the Balkan nation’s bond will make the entire eurozone stronger.

With the exception of Denmark, which has negotiated a legal withdrawal, all EU member states are obligated in principle to adopt the euro sooner or later. After Croatia joins, the eurozone will count on 20 of the 27 EU member states. Next year, the national currency will be used only in Sweden, the Czech Republic, Romania, Bulgaria, Poland, Hungary and Denmark.

Member states will make a final decision on Croatia’s entry into the eurozone in the first half of July.