Croatia adopts the euro

Matteo Falagiarda and Christine Gartner

Economic Bulletin Boxes, 2023, vol. 8

Abstract: On 1 January 2023 Croatia adopted the euro and became the 20th member of the euro area. The Croatian economy is expected to benefit from the elimination of currency risk, as well as lower transaction and borrowing costs. After its accession to the EU in 2013, Croatia made significant progress in addressing macroeconomic imbalances and achieving convergence towards the euro area. It now needs to continue with those reform efforts in order to fully reap the benefits of the euro and to allow adjustment mechanisms to operate efficiently within the enlarged currency area. JEL Classification: E42, F15, F45, O47

Keywords: Convergence; Economic and Monetary Union; Euro adoption (search for similar items in EconPapers)
Date: 2023-01
Note: 2438814
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbbox:2023:0008:2

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