Well yes, most former Soviet satellite states went into recession because companies where no longer state funded and had to be profitable and compete on the global market (do you know any good cars, computers or electronics from eastern European countries?), government funding went down in all sectors and taxes went up to get the budget back on track which caused mass unemployment. This happened because the previous government was running a huge deficit, and no other states would agree on any trade deals or credits until the finances where back in order.
Sincerely, someone who was born there long before the 90s.
Well yes, most former Soviet satellite states went into recession because companies where no longer state funded and had to be profitable and compete on the global market (do you know any good cars, computers or electronics from eastern European countries?), government funding went down in all sectors and taxes went up to get the budget back on track which caused mass unemployment. This happened because the previous government was running a huge deficit, and no other states would agree on any trade deals or credits until the finances where back in order.
Sincerely, someone who was born there long before the 90s.