ECONOMY

Farewell to the Kuna. Holidaying in Croatia With Euro This Year

As of 1 January 2023, Croatia has joined the other nineteen Economic and Currency Union EU members. While the eurozone keeps expanding to the east and south, its centre of gravity is not necessarily following suit.

Accepting Croatia as part of the currency union changes little in terms of the eurozone’s economic potential. The number of people using euro banknotes and coins has now increased by approximately 4 million to 346.7 million. Croatia’s annual Gross Domestic Product totals around EUR 60 billion. The eurozone’s economy has the capacity to grow by that amount within under one month. While the Governing Council of the European Central Bank - the body responsible for making decisions concerning interest rates in the eurozone - has just gained an additional vote, under the current voting principles the importance of a new member state is limited.