ZAGREB, 24 June 2022 - Support for Croatia's eurozone membership bid is an excellent sign for its highly euroized economy and will also boost its resilience to crises, Prime Minister Andrej Plenković said on Friday ahead of the start of the second day of the EU summit meeting.
One of the topics on the agenda of the two-day summit meeting is Croatia's entry into the euro area, and the leaders of the EU members states will support Croatia's accession, which is the penultimate step in the decision-making on receiving an aspirant in the euro area.
The last step is the adoption of three legislative proposals concerning Croatia's introduction of the euro, which will be made by the Council for Economy and Finance (EU Ecofin Council) on 12 July.
Thus, Croatia's changeover to the euro can start on 1 January 2023.
Today's summit meeting is very important for Croatia, which will become the 20th member of the euro area. This is a strategic goal of my cabinet, said Plenković while arriving at the summit meeting.
7 in 10 tourists in Croatia come from the euro area
Commenting on the highly euroized economy in Croatia, Plenković noted that 50-60% of loans and savings are tied to the euro, and 70% of travellers visiting Croatia are from the euro area, while two-thirds of the exchange is with the euro area.
The membership of the euro area will make Croatia better prepared to respond to crises such as energy and food crises or inflationary pressure, he said adding that the membership of the EU facilitated Croatia's efforts to address the COVID-19 pandemic.
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