You are viewing a single comment's thread from:

RE: LeoThread 2025-04-04 00:06

in LeoFinance6 months ago

Part 4/9:

Throughout the Soviet era, Narva was an important industrial hub, particularly in textiles and energy production. However, the collapse of the Soviet Union in 1991 marked the beginning of economic deterioration. As state-run enterprises transitioned to a competitive market, many industrial jobs vanished, contributing to a spiraling unemployment rate that, at points, soared above 30%. By 2003, a German newspaper described Narva as perhaps the most derelict city in new Europe—a moniker that still resonates as the population continues to decline due to economic challenges.

The Present-Day Reality