What were the main challenges faced by the Russian economy during the period of perestroika?

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What were the main challenges faced by the Russian economy during the period of perestroika?

During the period of perestroika, the main challenges faced by the Russian economy were widespread corruption, inefficiency in state-owned enterprises, a lack of market-oriented reforms, a decline in industrial production, and a severe shortage of consumer goods. Additionally, there was a significant decrease in foreign trade due to the collapse of the Soviet Union and the loss of traditional trading partners. The transition from a centrally planned economy to a market-based system also led to high inflation, unemployment, and social unrest.