lewis hamilton is under pressure to make a title challenge after a poor 2022 season spanish sensation colors. alcaraz took the tennis world by storm when he won the us open in september. it was a breakthrough year for the 19 year old who defeated some of the games best in rafa on the dull and world number one. novak joker, which if he keeps it up, alcaraz could be the new young superstar. the tennis world has been waiting for you're watching g w. news live from berlin, coming up next daniel windsor as d w of business. stay tuned for that's what secrets my behind these will discover new adventures in 360 degrees and explore fascinating world heritage sites

d w world heritage is 360. get the out. now. the only way i can be on top is to create my own empire, discover stories with just a click away. the journey, the destination, right. find out this document trees with the full fly. now it's okay ma'am tree. ah, croatia is making a big change for the new year, adopting the euro. the government believes is a big opportunity for the country will speak to croatia, finance minister to find out why. also coming up turkey notches up recalled exports but there's more economic trouble. beneath the surface will have the analysis and

forget vanilla rural strawberry customers in cape town, chatting to some rather unique ice cream flavors to cool off this summer. at that time again dw business welcome croatia has kicked off the new year with 2 major moves towards integration into the european union as well as adopting the euro. it's also joined the passport free shannon zone. for the next 2 weeks, croatians will be able to use their old coon, our bank notes alongside the euro, then it's a final good bye to the old currency. the moves are expected to provide a big boost to their country's tourism industry, which accounts for a 5th of its economic output and was badly hit by the pandemic. our reporters stephen beardsley spoke to the croatian finance minister, mako primrose in zachary minister, primrose. thank you for joining us. today. marks the 1st full day that businesses are open fully. they're using the euro now they should be giving back change in

euro up. you've overseen this implementation. how do you expect the introduction of the euro to really have an effect on ungracious economy? thank you very much for the whole for inviting me. well, the benefits will be multiple. oh, 1st of all, i would stress the importance of eliminating the currency risk of primarily from the public debt portfolio since more than 70 percent of our republic that was euro denominated. so with the reduction or elimination of this currency risk. ah, we will be also more attractive and we have also witnessed the benefits in terms of the credit ratings. whichever significantly increased. so the 3 relevant rating agencies, smoothies, thunder, and pores and feature ratings have already in july increased the crating of cray show, which is now historically high. also with the accession to the european stability mechanism, we expect though,

or boring costs to decrease. not only for the government but also for other sectors, for the households and for entrepreneurs. and so we expect to really multiple benefits for him from your introduction, all st from. so for transactions, the transfer costs will be reduced. seen some, their estimated at around $1200000000.00 kona and so increase are currently and the costs related to the conversion of currencies on which are significantly high will be a completely eliminated with the introduction of europe. we also expect the benefit syndrome. so firm being more attractive, not only for a jury since we are a well known to his destination, but also for businesses. we expect the also benefits in terms of attracting before in investments and the other benefits when it comes to the more integrated and connected and approached words. the countries that we mostly do

business with about also to the most developed countries of the resume. at the same time, krisha is a very small economy compared to some of the other big economies in the euro zone. should there be any concerns about what that means for an economy that no longer has total control over its own currency? while not really whipping that the benefits will be a multiple not only for crecia, but we think that the introducing the euro annexation to the euro's on of the country. as gratian is really a benefit for the euro zone as well. and since when it comes to our public finances are our public that to g d p ratio a has been constantly decreasing and also our budget deficit is within the master criteria limits. so we're also a joining the euro's own will. not only may crecia, but eurozone general stronger. and it will be hard when assy briefly will be hard for creations to give up. that old currency has so much symbolic value,

of course of the currency of independence. what do you think? i don't think there will be some challenges in this regard terms. of course, the question of national identity is important, especially for certain segments of the population. however, a, with the in creation side of the, your kill your european union coins. so the euro coins, ah, with gratian national side, we will also be able to promote our symbols. and we are actually happy that the euro coins with gratian nationals side with will certainly. um, what? join the european union's a financial system. and i would say, a financial circulation of bureaus own. so we see benefits in this regard. we think it will also promote creation will use and gratian identity, recreation, finance minister, marco premera,

thank you very much for your time. thank you very much. and that was steven bitterly reporting there now to some other global business stories making news. the international monetary fund is expecting a 3rd of the world to enter recession this year. the downward trend is primarily being driven by a slow down in 3 major economies. china, the us, china, and europe. to buy has suspended it's 30 percent tax on alcohol sales for a year. it also cut the price traders must pay to sell alcohol. the city has cut back on regulation lightly with the aim of boosting, tourism and attracting more foreign workers to the reaching and thirties. trade deficit reached a 110000000000 dollars last year, the highest and nearly 3 decades, according to data released by the ministry of trade on monday. or tuesdays exports rose by almost 13 percent to a record high. imports increased by a whopping 34 percent and our reporter ex,

from edgy has more on this exam. so course ada one's going to want to emphasize or record exports, but there's a massive trade deficit that importing more than it's exporting. so what's the main reason for this massive trade deficit? well, 1st for turkey has never been a country that him that exported more than it's important since 1946. but it's such a high deficit has never been seen since almost 3 decades since 1996. and maybe this is not the main reason, but this is for the most part due to the unconventional monetary policy ado on government has been following since a year and a half. and which is basically lowering the value of turkish lira and letting foreign currency continue competitive. and this reflects on such a high trade deficit. because as i said earlier, the tokyo is always importing more than it exports. and weak mirror is not happening at all. okay,

and these figures appeared to show as well that russian turkish economic ties have strength. and despite the war that's going on in ukraine, why is that? this is extra precisely because of the war that's going on in ukraine. as you know, turkey has never taken part in the sanction regime, which is imposed by european union and united states on russia. so we see, especially in the december and last month, the trade william between russia and turkey as increased significantly, turkeys, exports to russia, increase 122 percent and import imports from russia also increase 56 percent. and this is primarily due to turkey's some sort of on bias roll and intermediary position between the west and russia. so since russia is sanctions almost everywhere in the west, it turns to turkey for purchases and $0.04. ok. and of course, big elections coming up. this year, and we don't know exactly when yet,

but what does this development in the tax economy? what is the situation that you're going to meet the election? surely, something big. what? short answer. somebody has got to pay. yeah, but this is going to be off to be election because what you see now in turkey or do on the on government is ramping up to public spending, reducing to retirement, age, and laws are getting cheaper and cheaper. as you know, the interest rates are going lower and lower and we are months away from the election. so there's a time to spend money for, for any government in turkey actually. and this will most likely end up in a huge recession higher than ha, should've expected already. so and who will pay this price, of course, turkish people and turkish working classes and. and there will be no way back from this because combined with 84 percent inflation, this really doesn't look good. ok. so it's going to be

a difficult election for either one by the sounds of it due to the economy. a committee. thank you very much for joining me here in the studio. now something completely different. what's your favorite flavor of ice cream? what about cost? cost flavor or even fish? that's right. well, an ice cream shop in cape town is treating its customers to some rather unique flavors this summer. but behind some of the older flavors is a serious point about connecting africans to food from their own continent. when tap you are goose. i 1st started making ice cream 12 years ago. he never imagined he'd be working with ingredients like robo said, pumpkin puree, but his promise is a taste of africa in every scoop. and that means using ingredients and flavors that are indigenous to the continent. at some point it became an aspirational thing to say, i don't eat african foods, i needs italian food and eat blah, blah, blah. you know, and at some point i realized actually wanted to correct this narrative,

that's thing from africa. a 2nd rate or the not as important as valuable, or they're not as delicious accessible. so i started to try to address that problem or seeing in the world where we have africans on value ourselves. and consequently, we don't get to change your own foods as much as wishing me. his little creamery is located in cape town and is called toffee toppy. which in ban 2 means, yum, yum people often bring him ingredients from other parts of the continent allowing him to make ice cream with amaran's seed. biscuits and coconut or a bough bout with ginger. customers are always surprised to some or touched many se there's struck by the familiarity of the flavors are growing up when you that ask him can be vanilla. something that is, is not from here. now if you eat something like sam to something that you know, we grew up eating at same time it's it's, it's, it just mixed. connect it connect to with your child to tap you are gazelle says

he's concocted over 800 ice cream flavor. so far, no flavor is ever repeated, he says, and he believes there are many yet to be discovered, not just for africans, but for tourists looking for a taste of the continent. and before we go, a quick reminder, our top business story croatia has become the 20th country to join, the euro is being seen as a major milestone in the countries integration into the european union and job to date with dw business. if you are more check out our website, d, w dot com slash business, thank you very much for watching 3 to one of their job, making austria's slopes safe. their task controlled explosions. that triggers

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