The Czech Republic said on Wednesday that it is open to spending more on defence, as demanded by US President-elect Donald Trump. "We are open to this debate," Prime Minister Petr Fiala said, emphasizing that money invested in defence was money well spent.

U.S. President-elect Donald Trump said on Jan. 7 that NATO should raise its defense spending benchmark from 2% of GDP to 5%, echoing his earlier calls for Europe to spend more on its security.

European NATO members would struggle to increase defense spending to 5% considering the high social welfare bill in the continent. But analysts say Trump's demand could be a negotiating tactic to reach a compromise.

US President-elect Donald Trump said that NATO countries should be spending 5% of gross domestic product (GDP) on defence, up from the current 2% target. "They can all afford it, but they should be at 5% not 2%,