January 10 (SeeNews) - Croatia's euro changeover has progressed well in its initial phase, the European Commission said.
As many as 51% of cash payments in shops were already made in euro only on January 5, and in 93% of transactions consumers received their change in euro only, the Commission said in a press release last week, summarizing the findings of a survey it conducted several days after Croatia's entry into the euro area.
Some 35% of Croatian citizens polled said they already carry only euro banknotes, with 36% saying they only carry euro coins. The withdrawal of kuna banknotes and coins from circulation began in December 2022. By the end of December 2022, 55% of kuna banknotes and a third of kuna coins had already been withdrawn.
Croatia's retail sector has been coping well with the changeover process and parallel handling of two currencies, according to the survey. No major problems regarding queues or problems at the cash registers have been reported, the Commission said. The dual display of prices in kuna and euro became compulsory on September 5 last year and will apply until end-December 2023.
The conversion of ATMs has also proceeded smoothly, with 70% of all ATMs already distributing euro banknotes as from the first hour of January 1. The number and volume of withdrawals have remained at comparable levels to before the euro changeover, according to the Commission.
To protect consumers and address concerns about abusive price increases in the changeover period, the Croatian authorities are taking active measures in line with the rules on introducing the euro, the Commission noted, adding that a national inspection body is tasked to monitor and control prices and can take appropriate measures in case of infringements.