Croatia's Finance Minister Marko Primorac and President of European Central Bank Christine Lagarde.
photo: Yves Herman/Reuters
The single euro currency will be adopted on January 1, 2023.
On Tuesday, European Union finance ministers gave Croatia the final green light to adopt the single euro currency on January 1, 2023.
"I am happy to congratulate the whole of Croatia, because it has become the 20th country to join the eurozone," said the Finance Minister of the Czech Republic, Szbenik Stanjura, which holds the rotating presidency of the European Union.
Croatia's transition from the Kuna to the euro as of 2023 comes after less than a decade after joining the European Union.
Upon adopting the necessary legal texts for the historic step, the ministers set the official price of the euro at 7,53450 kuna per euro.
The decision comes after the Russian war in Ukraine the European Union's efforts to further unify the organization.