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...e on different stages of development. Most of the Black Sea countries are oriented to the high economic development level of the European Union, some (Romania and Bulgaria) have achieved the membership of the union, Turkey is undergoing negotiations and many of the other countries are striving to reach EU-like economic standards.
In the aftermath of the USSR’s dissolution, one can establish clear patterns of economic development of the Black Sea countries: all of them are oriented towards a market economy with varying level of success. Many of these countries are pacing in the transition process, facing mainly the same challenges, that they should address with common efforts in order to achieve the best results. After the global economic and financial crisis, most of the countries of the region have received financial help from the International Monetary Fund (IMF).
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