"Czech Republic Defence & Security Report 2016" now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Fri Feb 19 2016

We expect the Czech Republic's defence budget to start increasing again in absolute terms in the next five years. This is in large part a result of the healthy growth the country has been experiencing since the beginning of 2015. It will be driven in the coming years by the increasing threat represented by Russia in the region, and the Czech government's desire to be able to respond to the security and defence challenges of the region in accordance with its membership with EU and NATO. As such, defence spending will in turn increase the number of procurements as well as investment in the domestic defence sector, thus expanding opportunities for both international and national companies operating in the defence sector.

Full Report Details at
- http://www.fastmr.com/prod/1118976_czech_republic_defence.aspx?afid=301

The Czech Republic's defence budget has severely suffered, since 2008, from the global financial crisis. In steep decline between 2009 and 2010, and then in constant, smaller, decrease between 2011 and 2014, the budget had reached 1% share of the GDP and USD1.8bn. The year 2015 has, however, seen a very healthy growth of the Czech economy, with a real GDP growth of 4.1%, and we expect that this will continue in the coming years. As such, the Czech government has decided to significantly increase its defence budget in 2015, an increase that we expect will be constant over the medium term.

The increase in the defence budget will be mainly driven by the threat currently posed by Russia in the region. Involved in the Ukraine conflict, and after having annexed the Crimean peninsula, Russia is currently at the receiving end of a number of EU sanctions, and is seeking allies amongst ex-communist countries. The Czech Republic, however, is firmly committed to its membership with the EU and NATO, which includes that the country not only be in support of political decisions such as the sanctions imposed on Russia, but also that it be capable to efficiently respond to security and defence challenges in the region.

To this end, in spring 2015 the Czech Republic has announced that it will be increasing the number of its troops. These had actually been decreasing in the past two decades, and had drastically done so since conscription was abolished in 2005. Facing a decreasing number of manpower available for military service, the Czech government remains unsure if it will be able to increase the number of troops as it wishes, from the current 16,600 to 27,000 by 2025; as such the Defence Ministry is currently drafting a bill that would reinstate conscription, and should this bill pass, the first call for conscripts would take place in 2017, concerning all men and women above the age of 18.

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