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Croatia adopts the euro

Author

Listed:
  • Falagiarda, Matteo
  • Gartner, Christine

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

Suggested Citation

  • Falagiarda, Matteo & Gartner, Christine, 2023. "Croatia adopts the euro," Economic Bulletin Boxes, European Central Bank, vol. 8.
    • Handle: RePEc:ecb:ecbbox:2023:0008:2
    Note: 2438814
    as

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    More about this item

    Keywords

    Convergence; Economic and Monetary Union; Euro adoption;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F15 - International Economics - - Trade - - - Economic Integration
    • F45 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Macroeconomic Issues of Monetary Unions
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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