'The USSR experienced it's most significant economic decline under Brezhnev'

In a number of ways, the USSR did experience it's most significant decline during Brezhnev's time in power. Currency inflation, combined with economic stagnation, led to the infamous 'stagflation' of the period. As well as this, many of the economic weaknesses in existence under Khrushchev continued under Brezhnev's leadership. Whilst there were attempts to invest in and make gains in new areas, there were few positive results, an example of this being the BAM railway project to open up the resources of Siberia. Other attempts to reform or explore new economic projects also failed, notably the Kosygin reforms, to produce less bureaucracy and encourage more initiative and accountability in economic management.

However, there were some aspects of the period which suggest the economic decline was not as significant as it was under other leaders. For example, there was substantial investment in agriculture, a sector which had previously often been ignored. As well as this, the heavy focus upon heavy industry and central planning did produce some positive results. Evidence of poor economic performance under Khrushchev also suggests Brezhnev's rule may not have represented the most significant decline. For example, the failure of the Virgin Lands initiative led to a depression within the agricultural sector, and attempts to re-organise the nation's economic structure were eventually abandoned.