Poor compatibility of Eastern European economic data with the Western statistics. Problems pertinent to all economies that undergo fundamental structural transformations. Compilation of internally consistent time series data for these economies is extremely difficult, if at all feasible. Incomplete information, its low quality and reliability. As a rule, the official statistics do not account for the activities of this sector, despite its substantial effect on the economy.
Official statistics suffer also from a number of other omissions and distortions.
Discrepancies among the figures provided by different sources are very significant. For example, when t he official exchange rates are replaced by market exchange rates, the economic status of a country changes dramatically and this change may have little to do with real output. Measurement problems caused by price distortions and inflation. An accurate calculation of any economic indicator in an economy with four digit inflation becomes an impossible task. In light of these corrections, the economies of East-Central Europe look much brighter.