The Czech Republic will not fulfill its pledge to the North Atlantic Treaty Organization (NATO) to spend 2% of its gross domestic product (GDP) on defense by the year 2024, Finance Minister Alena Schillerová said after discussions of the Defense Ministry’s budget, reports the Czech Radio.
The Czech Republic has repeatedly committed itself to reaching that level of military spending by 2024, with both Prime Minister Andrej Babiš and President Miloš Zeman promising that it would happen.
In 2018, U.S. President Donald Trump urged NATO allies to commit 4% of their annual GDP to military spending, double the current target of 2%.
In last November, NATO raised its projection of extra defense expenditure by European Union member countries and Canada in 2016-2020 to USD 130 billion in total, up from USD 100 bln.
The alliance also produced its first forecast of these countries’ combined increase for the period through 2024: USD 400 bln, Czech Radio and wire service Bloomberg report.