Croatia is ready to join the Eurozone from January 1, 2023, the European Commission (EC) said in a statement distributed on Wednesday in Brussels.

Today, the European Commission concluded that Croatia is ready to adopt the euro from 1 January 2023, bringing the number of eurozone member states to 20, it says.

As stated in the report, Croatia has met all the conditions for the transition to the euro.

In the light of the Commission's assessment and taking into account additional factors relevant to economic integration and convergence, including the development of the balance of payments and the integration of product, labor and financial markets, the Commission considers that Croatia meets the conditions for the transition to the euro, explains the EC.

The report explains that the EU Council will make a final decision on Croatia's entry into the eurozone in the first half of July.

The Council will take a final decision on Croatia's transition to the euro in the first half of July, after discussions in the Eurogroup and the European Council, and after the European Parliament and the ECB express their opinion, the EC concluded.