In response to the coronavirus crisis, governments across the globe unveil significant fiscal and monetary stimulus to support economies. For example, the U.S. government is about to approve a $2 trillion (approximately 10% of GDP) fiscal package, its largest countercyclical response in post-WWII history. This package has a variety of measures ranging from direct cash transfers to short-term loans to bailouts. This diversity underscores that what matters is not only the size of the stimulus but also how it is spent. Much of the design is informed by the experience of the Great Recession in the U.S. but Ukraine can learn some lessons too.
Coronavirus
OP-ED
Yuriy Gorodnichenko: How to spend public money in a crisis?
An elderly woman shops at a supermarket in Kyiv on March 23, 2020.
