Croatia has received final confirmation of its entry into the euro area, and the final exchange rate at which kuna will be exchanged for euro is known.
The exchange rate will be 7.53450 kuna for 1 euro.
– A great day for Croatia, I would dare say a historic one – said Finance Minister Zdravko Marić upon arriving at the meeting of the Council for Economic and Financial Affairs.
The Council for Economic and Financial Affairs of the EU (Ecofin) has adopted three final legal acts necessary for Croatia to introduce the euro on January 1, 2023, including the decision on the conversion rate of kuna to euro at the central parity of 1 euro = 7.53450 kuna.
The definitive exchange rate is the same as that at which the kuna was included in the European Exchange Rate Mechanism (ERM II) two years ago.
Along with the regulation establishing the definitive conversion rate of kuna to euro, Ecofin adopted two more legal acts – the decision on the acceptance of euro in Croatia and the amendment to the regulation in which Croatia will be added as the 20th member to the list of 19 euro area member states.
With today’s decisions, the decision-making process in the Council has been completed, and Croatia will become the 20th member of the euro area on January 1, 2023.
– I would like to congratulate my colleague Zdravko Marić and all of Croatia on becoming the 20th country to join the euro area. The introduction of the euro is not a race, but a responsible political decision. Croatia has successfully met all necessary economic criteria and will pay in euros from January 1, 2023 – stated Czech Finance Minister Zbynek Stanjura, who presides over Ecofin.
