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Croatia enters the Eurozone and Schengen

2023-01-01 11:13:53Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Croatia enters the Eurozone and Schengen

Croatia on January 1 changed its currency to the euro and officially entered Europe's Schengen visa-free zone – two important events for the country that joined the European Union almost a decade ago.

At midnight, this Balkan state changed its currency from the kuna to the euro and became the 20th member of the Eurozone.

Also, Croatia became the 27th country to enter the passport-free travel area, Schengen, an area that enables free movement between member states of over 400 million inhabitants.

The President of the European Commission, Ursula von der Leyen, will visit Croatia later on Sunday to mark these achievements.

Experts said the use of the euro would help Croatia maintain its economy at a time when inflation has risen worldwide following Russia's invasion of Ukraine, which has driven up food and fuel prices.

The level of inflation in Croatia in November reached 13.5 percent, which is a higher level compared to the 10 percent inflation in the Eurozone.

However, Croatians have mixed feelings about the transition to the euro. While they welcome entry into the Schengen area, many others are concerned that the switch to the euro will lead to higher prices.

"We will cry for our kuna, prices will increase," Drazen Golemac, a pensioner from Zagreb, told AFP.

However, the use of the euro is already widespread in Croatia, as around 80 percent of bank deposits are in euros.

Officials have defended the decision to join the Eurozone and Schengen, with Croatian Prime Minister Andrej Pllenkovic saying earlier this week that these are "two strategic goals for deeper European integration".

Croatia, a former Yugoslav republic with a population of 3.9 million, joined the EU in 2013.


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