16:44 / 10.12.2021.

Author: Domagoj Ferenčić

Marić: entry into the Eurozone will benefit both the economy and citizens

Finance Minister Zdravko Marić in Rovinj

Finance Minister Zdravko Marić in Rovinj

Foto: Srečko Niketić / PIXSELL

The Croatian Deputy Prime Minister and Finance Minister was speaking at a conference titled: "The Croatia We Need - Croatia as a Member of the Eurozone", held in the Istrian resort town of Rovinj.

Speaking to reporters in Rovinj on Friday Deputy Prime Minister and Minister of Finance Zdravko Marić said that there is a strong consensus that Croatia's accession and its path to membership of the Eurozone, are beneficial to the Croatian economy and Croatian citizens. Marić added that Croatia must now do everything necessary to minimize the potential negative risks, such as inflation, and emphasize the positive effects, of which there are many more.

Marić went on to say that recent inflation in Croatia is not connected to its bid to join the Euro, but rather is part of a global trend of higher inflation linked to supply chain disruptions and rising costs for energy, resources and raw materials. The finance minister conceded however, that inflation is the biggest danger facing the country on its path to the Eurozone. He noted however, that Croatia has been seeing an inflation rate of about four percent in recent months, and that on an annual basis, inflation stands at around 2.5 percent, which is slightly below the European Union average.

For his part the Governor of the Croatian National Bank, Boris Vujčić, said that of all EU member states, Croatia will benefit the most from joining the Eurozone. He noted that the benefits of joining the European Monetary Union include a reduction of foreign exchange risk, which is especially important to Croatia given that 75 percent of Croatian debt is either in Euros or indexed in Euros. Vujčić concluded that joining the Eurozone will also lower interest rates, increase the country's credit rating and make Croatia a more attractive country for tourism and investment.

Source: HRT

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