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Prague May Have to Push Defence Spending Past 2%/GDP

CZECHIA
  • Speaking on the Patria podcast, CNB’s Frait said that a possible Czech recession may not be too long, and that a strong CZK would be positive.
  • President-elect Pavel holds a press conference later today to de-brief on his attendance of the Munich security conference. Pravo reports that the President argued that Czech Republic may need to raise defence spending above the 2%/GDP minimum.
  • Trade minister Sikela confirmed that Czech imports of Russian natural gas have now dropped to zero, with January seeing Russian supply fully replaced by Norwegian, Belgian and Dutch resources.
  • Later today, the finance ministry publish their March T-bill and bond issuance calendar. The release is scheduled for 2pm local time, 1300GMT.
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