Analysis 23 Oct 17

Croatian Top Economists Back Move to Join Euro

Two leading experts have welcomed the government’s plans to join the euro-zone, claiming the switch in currency will bring more benefits than costs.

Relja Dusek
Croatia is expected to enter the euro-zone in 2022/23. Photo: Pixabat

Croatia’s National Bank, HNB, is expected to present its strategy for the introduction of the euro by the end of this month, after the Zagreb government said the country would join the European single currency in a few years’ time.

Financial experts support the plan to join the euro-zone, noting benefits such as cheaper interest rates, while adding that Croatia is unlikely to witness the big price rises that hit other countries that joined the single currency.

However, they also that before it switches its currency, Croatia has a way to go until it fulfills all the criteria – including making a significant cut in the public debt.

Economy Minister Martina Dalic said on October 11 that both the government and the HNB supported Croatia entry into the euro-zone.

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