The Romanian economy was in a bad shape in the 80s mostly because we were forced to pay back IMF loans early, while under trade sanctions. The loans were taken

The Romanian economy was in a bad shape in the 80s mostly because we were forced to pay back IMF loans early, while under trade sanctions. The loans were taken to build up production in order to export goods, but we weren’t allowed to export much beyond food. It’s a common tactic used against socialist countries. The economy recovered eventually because the strangling eased, after one last massive robbery through the devaluation of our currency. Eventually the building of housing resumed as well, but so much of it is of extremely poor quality. Many friends that bought new builds complained they are of poorer quality than the flats they grew up in. Only in the past few years has it become possible to reliably find good quality new builds, but few can afford them. And even now, the vast majority of housing stock is still from before 89.