What were some of the problems facing the economies of the former Communist nations? What economic challenges do the Eastern European nations face today?
These countries have many problem with high unemployment rate, short wages and salaries. They have weak markets, low level purchasing power and they suffer capital deficiency . After political system changing, these countries had to manage a long and painfull process of privatization which caused big differences between groups in the society. Because of formerly strong role of state in different fields, they are characterized by corruption and excessive power of elit. After the last economic crisis, they have to face with very strong populist movements and parties.