Question

What challenges did former Soviet republics face as a result of the collapse of the Soviet Union?

Answer 1

The Soviet Union did not industrialize these States as such they were very far behind in the industrial economy

Answer 2

The transition from the Soviet Union to liberal countries was not easy. Those countries face the loss of GDP, inflation and the decline of their disposable incomes. With the disintegration of the Soviet Union, many independent states were created like Ukraine, Belarus, Georgia, the Baltic States, Estonia, Latvia, and Lithuania.

The main challenges of the former Soviet Republics were economical. First, a series of economic changes had to be done, such as mass privatizations and price liberalizations.