Croatia’s plan to become the 20th country to join Europe’s single currency cleared an important hurdle on Wednesday after EU officials said it met the economic criteria to adopt the euro in January.
The European Central Bank said in a report that Croatia’s economy had remained sufficiently in sync with the rest of the eurozone, despite its inflation and public debt soaring because of the fallout from the pandemic and Russia’s invasion of Ukraine.
The thumbs-up from the ECB for Croatia’s economic convergence mirrors similar conclusions from the European Commission and is expected to prompt EU leaders next month to approve the Adriatic country’s plan to join the euro at the start of next year.
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