Hungarian minister predicts financial crisis for EU if Ukraine becomes member

Hungary's Minister of EU Affairs János Bóka has issued a stark warning about the financial implications of Ukraine joining the European Union, stating that the organization would risk “bankruptcy” if it accepts Ukraine as a member.

Bóka’s remarks come in the context of a referendum underway in Hungary regarding Ukraine's potential accession to the EU, Caliber.Az reports citing Russian media.

According to Bóka, the EU is already struggling financially, with no available funds to accommodate Ukraine's membership. He highlighted the disparity between Ukraine’s economic situation and that of other EU countries. "Ukraine is one of the poorest countries in Europe. In 2020, before the war, Ukraine's GDP per capita was just €3,285, while Hungary’s was €14,370, almost four times higher," Bóka pointed out in a post on Facebook.

The Hungarian minister also noted that the EU has already provided significant financial aid to Ukraine, with at least €138 billion in support since the beginning of the war. "This is nearly equivalent to the annual budget of the European Union," Boka stated, stressing the strain this has already placed on EU resources.

Looking ahead, Boka warned that up to an additional €600 billion may be required for Ukraine's reconstruction, a cost that, he argued, would further stretch the EU’s finances. "But the EU budget is not growing," he said, emphasizing that a significant portion of the aid meant for Hungary’s citizens could end up funding Ukraine’s recovery instead.

By Vafa Guliyeva