21:26 / 13.09.2021.

Author: Nikola Badovinac

Croatia on track to adopt euro single currency

Valdis Dombrovskis and Andrej Plenković

Valdis Dombrovskis and Andrej Plenković

Foto: Marko Lukunic / PIXSELL

Croatia is on the right track for introducing the euro in 2023, European Commission Executive Vice President for an Economy that Works for People Valdis Dombrovskis said in Zagreb on Monday.

Dombrovskis was speaking at a conference on Croatia's path to the euro organized by the Lider business weekly and the EC Representation in Croatia.

Dombrovskis said Croatia's economic recovery was going well and that it was doing an extraordinary job given that last year's earthquakes made the problems caused by the pandemic more difficult.

Investment and jobs are rising but Croatia must recover from the crisis, as do all EU member states, he said, estimating that Croatia would reach the pre-crisis economic level next year.

The introduction of the euro will send a positive signal to investors, he said, estimating that the standard of living will increase.

Nobody must use the introduction of the euro as an excuse for price hikes. People worry that shops will start cheating them, Dombrovskis said, adding that before and after the euro changeover, prices would be declared in both kuna and euro.

If all requirements are met in 2022, the Council of the EU will decide whether to allow the euro to be introduced in Croatia on 1 January 2023, he added.

He concluded by saying that reforms were imperative for a lasting recovery.

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