What were the main challenges faced by the Russian economy during the period of transition to a market economy?

What were the main challenges faced by the Russian economy during the period of transition to a market economy?

During the period of transition to a market economy, the Russian economy faced several main challenges. These challenges included the collapse of state-owned industries, widespread corruption, inadequate legal framework, lack of infrastructure, high inflation rates, unemployment, and a decline in living standards for many Russians. Additionally, the transition process led to income inequality and social unrest, as well as difficulties in adapting to new economic policies and practices.