The governor of the central bank (HNB), Boris Vujcic, was re-appointed for another six-year term in Parliament on Friday, with 78 MPs voting in favour, 6 against, and 19 abstaining.

Vujcic had succeeded Zeljko Rohatinski in July 2012, and is often criticised by some sections of the public for continuing his predecessor’s policy of maintaining the local currency kuna in a narrow fluctuation band, set between approximately 7.4 and 7.6 to the euro, which they say makes the kuna over-appreciated and prevents development of exports.

He is also a vocal supporter of Croatia adopting the euro, which the country has agreed to do when joining the European Union in 2013. The central bank developed a strategy on how to achieve the criteria required, and latest estimates say that Croatia might join the euro zone by 2022-23, provided that it manages to reduce its public debt below 60 percent of its GDP.

According to latest data, in Q1 2018 the public debt-to-GDP ratio stood at 76.2 percent.

Vujcic is now set to serve until 2024. The Parliament also confirmed his deputy, the economist Sandra Svaljek, as well as three vice-governors – Slavko Tesija, Roman Subic and Martina Drvar.

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