THE Croatian intends to become its 20th member eurozone About six months after the country’s parliament today approved the bill to introduce the single currency from January 1, 2023, the state-run Hina news agency reported.
The law replacing the Croatian kuna with the euro was passed by a large majority in the 151-member parliament, with 117 votes in favor, 13 against and an abstention.
The amendments tabled by the right-wing parties, arguing that this is not the right time to adopt the euro because it will increase poverty and inflation, were rejectedbroadcasts the APE BPE, which, in turn, cites the Reuters agency.
Under the new law, prices will be displayed on both currencies from September.
The euro and the swing will be used alongside from next year.
The government points out that with the introduction of the euro interest rates will be reduced, the country’s creditworthiness will be improved and the way will be opened for more investments.
The key challenge for the government and the central bank is to contain the inflation and the budgetary expenditure in order for the country to meet the macroeconomic criteria of the euro area.
Source: News Beast
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