Daily Management Review

Eurogroup approves Croatia's entry into the eurozone


Croatia's membership in the European Union will begin on January 1, 2023, according to the Eurogroup. This is the first stage in the EU Council's process of adopting legal measures that would allow Croatia to join the eurozone and profit from the euro's use.

Martin Vorel
Martin Vorel
"Ministers agreed with the European Commission's and European Central Bank's favorable assessments of Croatia's convergence criterion compliance. Croatia should adopt the euro on January 1, 2023, according to the recommendations," the Eurogroup stated.

Croatia will join the eurozone as the 20th member, according to Eurogroup President Pascal Donoghue. He stated that the government has satisfied all of the requirements for euro adoption. The Croatian kuna has been the country's currency since July 1, 1995.

source: ec.europa.eu