Czech defense spending made 1.37% of GDP in 2023, says ministry

Czech defense spending in 2023 amounted to 1.37% of GDP, which corresponds to approximately 101 billion crowns (about $4.8 billion), the Defense Ministry of the Czech Republic said, Report informs via ČTK news agency.

Last year's defense spending was lower than expected by about 10 billion crowns. It was expected to reach 1.5% of the GDP. Unused funds, according to the agency, went into the current budget, and thus in 2024, defense spending should increase to 2% of GDP.

The leaders of NATO member states agreed in 2014 that defense spending in each member country should reach at least 2% of GDP in 2024. The Czech Republic intends to fulfill this commitment. The Parliament of the Republic has enshrined this provision in a law.