Benefits of the introduction of the euro are numerous

Croatian Chamber of Economy organized the Day of Croatian Financial Institutions Conference – Impact of the introduction of the euro on economic developments. The organizers of the conference stressed that skepticism about the euro mainly comes from ignorance and that businessmen, and especially exporters, overwhelmingly support the introduction of the euro. It was reported that about two-thirds of Croatia’s trade in goods takes place in the euro area, which is where the vast majority of total foreign direct investments in Croatia comes from.

Prime Minister Andrej Plenković emphasized the numerous benefits of the introduction of the euro, from the permanent elimination of currency risk, through the reduction of borrowing costs to the strengthening of international trade. He announced that as early as next year we are entering the European Exchange Rate Mechanism II and that after two and a half to three years we should meet all the requirements for the introduction of the euro. This means that we would enter the Eurozone early in 2023 or 2024.

Marinko Došen, President of the Management Board of AD Plastik, participated in panel discussion as part of the conference, where discussion was held regarding the impact of the introduction of the euro on economic developments. “As president of the Management Board of a company that is a 100% exporter, it is clear that I am a big proponent of the introduction of the euro. The implemented exchange rate policy is not in us exporters’ favor and it is one of the biggest obstacles in increasing profitability. In these circumstances, it is very difficult to remain competitive in the demanding global market, especially in the industry in which we operate,” said Marinko Došen on this occasion.