The Economic Development in the CEE Countries since Eastern Opening

After the political upheaval in 1989, all Central and Eastern European countries have suffered a deep "transformation recession". The real gross domestic product shrank between 1990 and 1992 by approximately one fifth in the CEE states. The reasons for that production drop were the changes within the economic system, the consequences of economic disintegration following the dissolution of the CMEA, the adjustments necessary within the production structure, and partially also country-specific problems.