(VOVworld) - Croatia's first woman President, Kolinda Grabar-Kitarovic, was sworn in Monday and vowed to help kick-start the EU member's ailing economy.

Kolinda Grabar-Kitarovic is sworn in as president of Croatia in Zagreb on February 15, 2015 (AFP Photo/)

The 46-year-old conservative former foreign minister and NATO official narrowly defeated her left-wing predecessor Ivo Josipovic in an election run-off in January.

In her speech immediately after the swearing-in ceremony at Saint Marc's square in the old quarter of Zagreb, she vowed to do her utmost "to make Croatia a wealthy nation" and expressed her wish that Croatian people will eventually start to live the life of a European Union member.

The leading member of the main opposition HDZ party will serve a five-year term.

Apart from hundreds of Croatians and top local officials the inauguration was also attended by the presidents of Albania, Bosnia-Herzegovina, Hungary, Kosovo, Macedonia, Montenegro, Slovakia, and Slovenia.