Ukraine demands secure percentage of EU’s GDP
(MENAFN) Ukraine has asked European Union member states to contribute a fixed percentage of their GDP to support the Ukrainian military, aiming to formalize long-term defense financing amid uncertain international aid.
Ukrainian Finance Minister Sergey Marchenko made the proposal during this week's G7 finance ministers meeting in Canada. In a Facebook post, he explained that the plan would involve partner nations directly in funding Ukraine’s armed forces, effectively integrating them into Europe’s broader defense strategy.
Marchenko emphasized that the proposed contributions would only represent a small portion of each country’s GDP and could be shared among willing participants. Ukraine hopes to launch the initiative in 2026, with funds potentially counting toward NATO defense spending goals.
The appeal comes as Ukraine faces increasing fiscal stress. MP Yaroslav Zheleznyak recently revealed that Ukraine’s 2025 military budget has a funding gap of 400–500 billion hryvnias ($9.6–12 billion). Another lawmaker, Nina Yuzhanina, warned that support for the military is reaching a crisis point and called for deep cuts to domestic spending.
Ukraine’s public debt has surged to nearly 100% of GDP, with total national debt nearing $171 billion. Marchenko admitted earlier this month that Ukraine won’t be able to repay its international creditors for the next 30 years but still plans to continue borrowing.
Since Russia’s large-scale invasion in 2022, Ukraine has received significant military, economic, and humanitarian assistance from the EU, US, and other partners. However, that support has started to waver. Some EU members, including Hungary and Slovakia, have criticized Brussels’ ongoing aid strategy.
In the U.S., President Donald Trump has signaled a shift in policy, favoring peace negotiations over continued military assistance. Instead of new aid packages, Washington recently signed a deal securing priority access to Ukraine’s mineral resources—an agreement that includes no security commitments.
Ukrainian lawmakers warn that the final tranche of U.S. aid approved under former President Joe Biden is set to run out by summer, with no current plans for renewed shipments.
Meanwhile, Russia continues to condemn Western military support for Ukraine, arguing that it extends the conflict unnecessarily while burdening Western taxpayers without altering the war’s ultimate outcome.
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