KYIV, May 28 – The government plan to stimulate the economy to overcome the consequences of COVID-19 contains a number of clearly protectionist measures that are unlikely to lead the economy out of the crisis, said Professor at Columbia University Willem Buiter.

“I have great doubts about how your western neighbors in the EU will respond to explicit mechanisms to support domestic producers and protectionism, which is gaining momentum and stimulating unwillingness to purchase import goods. I am skeptical that this set of measures and incentive initiatives can really reduce unemployment, boost the economy and remove all markets from the situation in which they feel cold sweat,” he said during a meeting of the Council on Economic Development on Wednesday.