Croatia soon joining Eurozone

After a regular summer EU summit on Friday, Prime Minister Andrej Plenković expressed great satisfaction with the achievements that Croatia has achieved in the first nine years of membership and the steps towards joining the euro area and Schengen passport-free area.

On Friday, the European Council supported a recommendation for Croatia's entry into the euro area, and next week the French presidency will begin the decision-making process on its accession to the Schengen area. A decision in that regard is expected in the autumn.

On 1 January next year, Croatia would simultaneously enter the euro area and Schengen area.

"I can just express my great satisfaction. This visit to Brussels was extremely favourable and successful for Croatia and gives us encouragement to continue in that direction," said Plenković.

He said that membership in the euro area would have a positive effect on Croatia's overall rating, especially in economic and financial circles, and that the country would be more attractive to investors.

During his government's term, two of the three agencies upgraded Croatia's credit rating to investment grade, he recalled.

"Our resilience as a state, society, economy and citizens to all possible crises will be stronger with membership in the euro area," Plenković added.

The second day of the EU summit was dedicated to the economic situation in Europe, which raises concerns about the consequences of the Russian aggression on Ukraine.

"We all have the same questions and concerns that need to be addressed: rising prices of energy, food, commodities, construction material, inflationary pressures," Plenković said.

He said he wanted the growth of energy prices to be addressed and limited at the EU level through joint procurement and mechanisms in order to avoid speculation on the markets and ensure enough energy at affordable prices.

Text: Hina

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