Croatia Soon to Send Letter of Intent to Join ERM II

Total Croatia News

ZAGREB, July 3, 2019 – Finance Minister Zdravko Marić said on Wednesday that Croatia would soon send in a letter of intent to join the Exchange Rate Mechanism (ERM II), a sort of waiting room for eurozone entry.

“In the letter we will specify things that we plan to fulfil in the next 12 to 18 months and then we will see what comes next,” Marić told reporters ahead of a meeting of the National Council for the adoption of the euro as legal tender in Croatia.

“The better we do our homework, the better the effects for all Croatian citizens,” he added.

Maric recalled that the government had recently sent a letter to the European Central Bank seeking close cooperation, and that the next move was a letter of intent to join ERM II.

Asked if there would be enough money in the budget for the purchase of new aircraft for the Croatian Air Force, he said: “This matter is not disputed, but everything has to be in accordance with the country’s priorities and financial means.”

Commenting on demands by restaurant owners for a lower VAT and higher wages, Marić said that the tax system would be thoroughly analysed and any tax changes would come into force on January 1.

He did not specify whether the account of the troubled 3. Maj shipyard would be unblocked, saying only that it was one of the issues that would be discussed further.

More news about the introduction of euro can be found in the Business section.


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