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Croatia seeks to adopt euro in 7-8 yrs

Croatia seeks to adopt euro in 7-8 yrs
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Mubasher: Croatia's prime minister Andrej Plenkovic said on Monday that his country aims to become a eurozone member within the next seven to eight years, according to Reuters.

“We don’t want to specify the exact dates, but we want Croatia to become a eurozone member within two government terms in office,” the news agency quoted Plenkovic’s remarks during a conference devoted to the introduction of the euro in Croatia.

The prime minister also said that Croatia wanted to enter the European exchange rate mechanism II (ERM-2) within the next three years, before the country takes the presidency of the European Union (EU) in 2020.

Plenkovic also added that the goal is to reduce the public debt to 72% of GDP by 2020, as part of the country’s commitment to meet the EU requirements for the single currency.

Croatia took an obligation to adopt the EUR when it joined the EU in 2013, but without a defined timetable, Reuters noted.