CEE
Croatia set to join Eurozone in 2023
Croatian lawmakers have voted to allow the introduction of the euro currency in 2023.
Lawmakers voted 117-13 to replace the Croatian kuna with the euro on Jan. 1, 2023. Croatia became part of the European Union in 2013, but continues to have among the weakest economies in the bloc. Right-wing parties in the Croatian parliament opposed the introduction of the euro. Meanwhile, it was announced that both the kuna and euro will be accepted as currency during the initial months of the change-over. Advocates for changing over to the Euro noted that Croatia is dependent upon tourism and acceptance of the Euro will make visiting Croatia easier. The President of the European Central Bank (ECB) Christine Lagarde said in an interview with Slovenian Television that Croatia's accession to the Eurozone is currently going according to plan. Asked by Slovenian broadcaster Igor Bergant whether rising inflation in Europe, the war in Ukraine and the general crisis could delay Croatia's accession to the European Monetary Union, Lagarde said Croatia was still "very committed to its goal" of joining the Eurozone. “If we have learned anything so far, it is that such commitment and adaptability are the main principles that lead to progress. Slovenia also adhered to that and constantly confirmed it, and I think that Croatia is also working hard on the introduction of the euro,” said Lagarde. "It is wonderful that we will probably accept (Croatia) as the 20th member very soon. We will have to calculate the data and facts and review everything. We will do this together with the European Commission, and the ECB will be involved in this process. For now, we see that everything is going according to plan," Lagarde said. RELATED
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