EU set to approve Croatia joining euro zone

On July 12, the Council of the European Union formally approved the accession of Croatia to the euro area on January 1, 2023, and determined a Croatian kuna conversion rate of 7.53450 per euro – this coincides with the level of the current central rate of the kuna in the exchange rate mechanism (ERM II), Report informs, citing EU Council.

The Council adopted the final three legal acts that are required to enable Croatia to become the 20th member of the eurozone.