ZAGREB, November 11, 2020 — Croatia Prime Minister Andrej Plenković revealed that Croatia plans to adopt the Euro on January 1, 2023. He spoke to the reporters after discussions regarding the National Plan for the Exchange of the Kuna into the Euro.
He also shared details about the conversion after the end of the 7th session of the Croatia National Council for the Adoption of the Euro.
“The Council accepted the National Plan. Therefore, we will submit that document for public consultation today. Then, after hearing feedback from all interested parties, the Croatian Government intends to adopt this plan by the end of the year. Then, we can take steps in accordance with the strategy on the introduction of the Euro,” Plenković explained. In addition, he pointed out that the goal is for Croatia to adopt the Euro as a currency on January 1, 2023.
Croatia Prime Minister Plenković also responded to questions about possible challenges along the way. He indicated that he intends to keep the deficit below 3 percent according to HRT.
Finance Minister Zdravko Maric Reveals Details on Euro Introduction
- “We released a document for public consultation which is an important document. It also lays out the steps ahead for approaching the European Monetary Union (EURO introduction),” revealed Croatia Finance Minister Zdravko Maric.
- “Following what we have already done — Croatia has been in the exchange rate mechanism 2 since the middle of 2020. Now we are beginning a public consultation which will be finished about 30 days,” added Marić.
- “The document should define in more detail, for both the public and private sectors, the legislative and implementation adjustments. It lays out the preparation and implementation of everything which is important at the national level,” Maric explained.
- “It is vital for our citizens that the principle of consumer protection is fundamental to the introduction of the Euro. This includes the conversion of deposits, loans, or the exchange of cash,” emphasized Minister Marić.
Croatia National Bank Governor: Plan Defines Legal System Adjustments, Preparations
CNB Governor Boris Vujčić also spoke about the plan to introduce the Euro as a replacement for the Kuna.
- “The National Plan which, is going into e-counseling, defines all of the adjustments of the legal system. It also covers the logistics which we need to address and other preparations in the public sector and economy. Most importantly, this plan will enable us to successfully adopt the Euro. And our goal is to be ready in two years. Therefore, we must start implementing the National Plan at the beginning of next year. That involves working with six coordination committees which will prepare the national conversion,” explained Vujčić.
Follow our Politics page to keep track of Croatia’s preparations to adopt the Euro. For details on the Euro adoption process, check out the Croatian National Bank website here (in English).
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