Photo: Kateřina Cibulka, Czech Radio
The Czech government has approved a budget with a high deficit, and President Petr Pavel says he will sign it—despite reservations that more should go to defense. Helena Horská, chief economist at Reiffeisenbank, argues the key question is not just how much is spent, but how. She told Radio Prague International that defense spending can make economic sense—if it is treated as investment.
The Czech debate about public finances often avoids uncomfortable truths—whether about so-called “free” public services or the need to invest more in defense:.
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Author: Vít Pohanka