Ukraine wants fixed percentage of EU’s GDP
Ukraine has proposed that EU member states allocate a fixed portion of their GDP to fund the country’s armed forces. The bloc’s leaders have pledged continued military support for Kiev despite a policy change by US President Donald Trump, who aims to mediate a truce. Finance Minister Sergey Marchenko outlined the proposal during this week’s G7 finance ministers meeting in Canada, according to a Facebook post published on Thursday. “What we are proposing is partner participation in funding Ukraine’s Armed Forces, which would effectively integrate them into Europe’s defense structure,” he wrote. Marchenko added that the cost “would represent only a small share of the EU’s GDP” and could be distributed among countries willing to join the initiative. Kiev wants to launch the new scheme in 2026, with contributions counted toward NATO defense spending targets. Marchenko’s appeal comes as Ukraine struggles with rising fiscal pressure and an uncertain outlook on foreign assistance. On Tuesday, MP Yaroslav Zheleznyak said the country’s 2025 budget includes a shortfall of 400–500 billion hryvnias ($9.6–12 billion) for financing its armed forces. Fellow lawmaker Nina Yuzhanina warned that military support was at a critical level and called for sweeping domestic budget cuts to redirect resources. Ukraine’s mounting debt has also raised alarm. Total state debt is approaching $171 billion, with public debt nearing 100% of GDP. Earlier this month, Marchenko said the country would be unable to repay foreign creditors for the next 30 years but intends to continue borrowing. Since the escalation of the conflict with Russia in 2022, Ukraine has received billions in military, financial, and humanitarian aid and loans from the US, the EU, and other donors. Brussels’ approach has drawn criticism from some EU member states, including Hungary and Slovakia. The US, Ukraine’s largest donor, has moved to recoup its financial aid to Ukraine by signing a natural resources deal with Kiev. The agreement, pushed by Trump, grants the US preferential access to Ukrainian mineral resources without providing security guarantees. Trump, who has repeatedly called for a swift resolution to the conflict, has pledged to mediate a truce rather than expand military support. Ukrainian lawmakers have warned that the military aid package approved under former President Joe Biden will run out by summer, and no talks on further US deliveries are currently underway. Russia has consistently condemned Western arms shipments to Ukraine, declaring that they will only prolong the conflict without changing its outcome, while also being an additional economic burden for ordinary taxpayers.
Admin | 2025-05-23 08:22:01