Croatia adopted the Euro as its currency

Officials say the development will be remembered as a historic step for the country, which emerged as an independent country from the breakup of Yugoslavia 31 years ago. The population of Croatia is only 40 million people.

Experts say that adopting the euro will bring many economic benefits to Croatia, as 19 other EU countries and the European Central Bank use the same currency. Another advantage would be that the 340 million people currently living in the Eurozone would not need to exchange Euros for the Croatian currency kuna and would be able to travel directly to Balaruk, Croatia, famous for its stunning and enchanting beaches. will

Croatian Prime Minister Andrej Plenkovic said in a ceremony the past few days, “After ten years of membership in the European Union, we are going to be the only country in history to be a member of the Schengen and Eurozone at the same time.” The day itself is joining.”

“Some countries have achieved these two goals one after the other after a short break, but there is no country that has achieved both at the same time,” the Croatian prime minister said. “This will bring positive changes in our economy,” he added.

However, not all Croatians are happy with these changes. They are particularly unhappy about the phasing out of the country’s current currency. Some people have an emotional attachment to the Croatian currency, the kuna. The currency was launched to break away from the former Yugoslavia and ensure the country’s fiscal independence after the 1991-95 war.

“Kona is a symbol of Croatian independence. We all love it, so it’s a symbol of independence,” says Vladislav Stodar, who fought in the war between Croatian government forces and those loyal to the Serb-controlled Yugoslav army. It’s a painful thing to see end.” However, he said, “What can we do. This is life and life goes on anyway.”

Stella Rojo, a resident of Zagreb, agrees. “It’s a bit disappointing that we won’t be able to use Kona anymore. It was something unique to our country. But in practical terms (the currency change) won’t make much of a difference to me,” she says.

Croatia joined the European Union in 2013 and was added to the Union as the newest member. Adoption of the euro requires Croatia to adhere to strict economic conditions, including a stable exchange rate, inflation control and solid public spending.

Ever since EU finance ministers gave Croatia the green light to join the eurozone in July, the country’s central bank has begun wide-ranging preparations. “We have ensured (euro) banknotes for the current need and next year’s needs, and we have minted 600 million of the necessary coins,” said Tehomir Muric, executive director of the Croatian National Bank’s cash department. About 93 percent of the minting work has been completed.”

“From mid-August to late November there was a 12 billion drop in Kona transactions, which is about 1.7 billion euros. So now we only have about two-thirds or about 22 billion Kona of the phase,” he added. All that remains is to finish the war.” For the next 14 days only, the Croatian kuna and euro will be dual-use for cash payments. But later they have to transact only in Euros.

We understand that adopting a new national currency is a “major fiscal adjustment and a large-scale logistical process,” Meurek said. “We are also aware that we are going to adopt a new currency and obviously due to this there may be some problems in cash payments during the first two to three weeks but things should be back to normal soon,” he added. will.”

In the context of adopting the Euro as the currency instead of the Kona, the government has launched a massive public awareness campaign. All Croatian citizens have been provided with a guide in this regard.

“I think the transition will be easy because we’ve been using euros before. We’ve been exchanging kuna for euros and our savings accounts are in euros,” said Ivanika Boljukovic, a Croatian opera singer. ” “We will soon get used to the euro as we have got used to other changes,” he said.