The socialist countries of Eastern Europe

The socialist countries of Eastern Europe have taken a development path that is distinctly different from those of developed market-economy or developing countries. The distinctive feature of the economic mechanism of the socialist countries of Eastern Europe is central planning with emphasis on industry. In the post-war period as a whole, the economic growth of the region has been rapid indeed, and the growth of industry has been particularly impressive. Between 1950 and 1979 the national income of the Council for Mutual Economic Assistance (CMEA) member countries grew 7.8 times, and gross industrial output 12.4 times (the corresponding world totals were 4.1 and 6.1).

Sustainable Development Goals:

Decent Work and Economic Growth

Partnerships for the Goals