: :inin Kyiv (EET)

Post-Soviet Russian economic collapse

Was the post-Soviet transition the greatest ‘man-made’ economic disaster ever?. Credit: IPSBy Vladimir Popov and Jomo Kwame SundaramMOSCOW and KUALA LUMPUR, Jun 6 2017 (IPS)Wide-ranging economic reforms following the demise of the Soviet Union at the end of December 1991 mainly resulted in economic collapse in most successor states. By the mid-1990s, output had fallen by about half compared to 1989.Meanwhile, income inequalities rose sharply as real incomes declined dramatically for most, while death rates increased by over half as life expectancy declined dramatically.In Russia, output fell by 45% during 1989-1998, as death rates increased from 1% in the …read more

Source: Inter Press Service

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