engleski

Republic of Croatia and Economic-Monetary Union

The paper brings major macroeconomic aspects of Croatia's association to the EMU, the capability of Croatian economy to fulfil the requirements and some major challenges for economic policy in the process of integration. Croatia achieved certain advantages relating to macroeconomic stableness criteria (except for budgetary), investment efficiency and potential growth. However, Croatia falls behind in some structural reforms, especially in development of bonds market. The macroeconomic policy should aim towards increase of outer stableness and maintenance of favourable growth conditions. Readiness of Croatian government for the association to European economic integration is being evaluated through the analysis of competitive economic factors of Croatia, Central European countries and less developed EMU countries. The Republic of Croatia should fulfil three key goals: regulations on regional co-operation, Copenhagen criteria and Maastricht criteria. The fulfillment would create conditions for normal functioning of market economy and public management and create stable macroeconomic conditions for acceptance of mutual currency as a higher level of economic integration towards the mutual market.

Croatia; Economic and monetary union; macroeconomic policy; fulfilment of criteria

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