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Croatia already a de facto member of Eurozone - comments Prime Minister

By  May 14, 2019

Croatian Prime Minister, Andrej Plenkovic, said on Tuesday that entry into the Eurozone is one of the goals to be achieved because it is in Croatia's interest, that it is good for the economy, financial system and international position, and that Croatia would ultimately be a successful member of the European Union.

Plenkovic argued that Croatia's accession to the European Union is one of the major political, economic, and financial issues for the next five years. He recalled the strategy for introducing the Euro as the official currency is ongoing with the government and the Croatian National Bank (HNB).

Plenkovic said that the members of the euro area are the most important trade partners of Croatia, and that as much as 77 percent of Croatian citizens' savings is in euros and 54 percent of all loans. He also pointed out that 70 percent of the total tourism revenues came in Euros, 60 percent of total overnight stays come from European citizens, as well as 66 percent of foreign tourists spending. Finally, 75 per cent of Croatia's foreign debt is also in Euros. "That means we are de facto there," added Plenkovic.