The finance ministers of the euro area member states have welcomed Croatia's accession to the euro area and the Schengen passport-free travel area as proof that further EU integration is possible in these challenging times, Croatian Finance Minister Marko Primorac said on Monday.

“Accession to the euro area and Schengen is a moment of optimism and sends a message of unity. It shows that in these challenging times further EU integration is possible,” Primorac said in Brussels.

On Monday, he attended a meeting of the Eurogroup for the first time since Croatia joined the euro area on 1 January. The meeting welcomed the expansion of the euro area to Croatia, and the finance ministers were presented with a special edition of Croatian euro coins as a gift.

“We are now a Euro family that has 20 family members, which is a sign not only of the continued resilience and strength of the euro – both now and in the years to come – but it is also a recognition of the exceptional work that has been carried out by Croatian authorities and the government of Croatia to implement this very complex transition so successfully,” Eurogroup President Paschal Donohoe said.

Primorac said that for now there was no empirical data on inflation and it was difficult to say to what extent the euro changeover had affected price increases.

“We at this point do not know what exactly is going on in Croatia. We do not have empirical data. We will be much better informed after the national statistical office soon publishes data on inflation for December,” the finance minister said.

He expressed hope that the data would show that inflation in Croatia had peaked and that prices would not continue to grow.

The Eurogroup, which consists of the finance ministers of the euro area member states, discussed progress in the digital euro project. A statement was adopted saying that the digital euro should complement rather than replace cash and should ensure the financial stability of the euro area.

The finance ministers welcomed the European Commission’s plan to present a legislative proposal to establish the digital euro in the first half of this year. The matter will be decided by the Council of the Europe, which represents the ministers of all EU member states, and the European Parliament.