Government will not set date for Euro adoption

(CIANEWS) - The government has accepted the joint recommendation of the Czech Ministry of Finance and the Czech National Bank not to set a date for the adoption of the euro. In the aftermath of the COVID-19 pandemic and the consequences of the conflict in Ukraine, the Czech Republic is unlikely to meet any of the Maastricht convergence criteria in 2023. The government considers the unfinished process of economic convergence of the Czech economy, especially in the area of price and wage levels, to be an obstacle to joining the monetary union. The structure of the Czech economy also remains significantly diverging from the euro area. Given the ageing population, the long-term sustainability of public finances is also not yet settled. The information was published by the MF.



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