PRAGUE - The Czech parliament's upper house approved a bill on Wednesday that will set the state's minimum defence spending at 2% of gross domestic product (GDP) from next year, matching its commitment to the NATO military alliance. European countries have ramped up their defence expenditure since Russia's invasion of Ukraine, which had turned up pressure on member states that had not been meeting spending commitments. Czech defence spending is planned at 1.52% of GDP in 2023 but should rise to above 2% next year once the president signs the bill into law, expected in the coming weeks.
http://klse.i3investor.com/web/blog/detail/kianweiaritcles/2023-06-01-story-h-269508107-Czech_Senate_backs_setting_NATO_spending_target_of_2_GDP_as_law#i3investor
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