... economy, already providing the lowest standard of living in Europe, contracted sharply in 1991, with most industries producing at only a fraction of past levels and an unemployment rate estimated at 40%. For over 40 years, the Stalinist-type economy has operated on the principle of central planning and state ownership of the means of production. Albania began fitful economic reforms during 1991, including the liberalization of prices and trade, the privatization of shops and transport, and land reform. ... — The 1992 CIA World Factbook • United States. Central Intelligence Agency.
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