Proceedings of The 14th International Conference on Modern Research in Management, Economics and Accounting
Assessment of the Economic Readiness of Bulgaria, Croatia and Romania to Adopt the Euro
Iulian Nicolae Vasiloiu
The economic problems faced by the European Union in the aftermath of the pandemic crisis of 2020 have led Czechia, Hungary and Poland to no longer propose any timetable for their Eurozone membership. They were joined in 2022 by Romania, who no longer set a target date for joining the Eurozone in its national convergence program, citing the negative economic effects of the pandemic crisis and the war that began in Ukraine, in February 2022. In contrast, Croatia and Bulgaria have reconfirmed their intentions to join the Eurozone on January 1, 2023 and on January 1, 2024 respectively.
This paper presents the steps taken by Bulgaria and Croatia towards the adoption of the euro, the economic situation of Romania, Bulgaria and Croatia over the last 5 years, by analyzing the fulfilment of the nominal convergence criteria and the evolution of real convergence through its most representative indicator, the gross domestic product per capita, calculated at purchasing power parity (PPP).
keywords: Convergence criteria, ERM II, Eurozone, GDP, Inflation ta-19925180.