Croatia on track to adopt euro in 2023: EU's Economy Commissioner

Dombrovskis said that Croatia would be able to introduce the currency only after meeting all convergence requirements.

The European Union's Economy Commissioner Valdis Dombrovskis has said that Croatia was on track to adopt the single European currency, Euro by 2023, considering the criteria set out by the European Commission.

 

EU's Economy Commissioner took to Twitter on Monday and wrote, "Euro will be a great asset for Croatia as it is now for Europe, but nobody should use euro adoption to hike prices."

 

He said, "This should be monitored and managed closely."

 

Xinhua, the news agency had reported that Dombrovskis made the comment on Twitter shortly after addressing a conference in Zagreb on Croatia's path to the euro, the single European currency.

 

In his speech at the conference, Dombrovskis warned that the country had to be cautious of the effects of the Covid-19 pandemic on the economy.

 

He said that especially when country’s low vaccination roll-out that may set off further restrictive measures, although economic recovery of Croatia was doing well.

 

Dombrovskis said that Croatia would be able to introduce the currency only after meeting all convergence requirements.

 

Valdis Dombrovskis further said that if these requirements were met in 2022, the Council of the European Union will decide whether to allow the single currency, euro to be introduced in Croatia on January 1, 2023.

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