Boom of the USSR (10h 37min, jan 1, 1928 y – jan 1, 1980)
Description:
Impressive growth rates during the first three Five-Year Plans (1928–40) are particularly notable given that this period is nearly congruent with the Great Depression. During this period the Soviet Union encountered a rapid industrial growth while other regions were suffering from a crisis.
The major strength of the Soviet economy was its enormous supply of oil and gas, which became much more valuable as exports after the world price of oil skyrocketed in the 1970s. As Daniel Yergin notes, the Soviet economy in its final decades was "heavily dependent on vast natural resources–oil and gas in particular." However, Yergin goes on, world oil prices collapsed in 1986, putting very heavy pressure on the economy.
Added to timeline:
Economy of the USSR
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