Swedish Economy and World War II

Basic information about the country Area: 449,964 km. State system: Constitutional monarchy. Capital: Stockholm.

Interwar period ( ) In the 1920s, the situation improved not only in Sweden. In many parts of the world, the economy has strengthened and many positive changes have taken place.

. In 1933, the Nazis came to power in Germany. The Nazis deprived Jews and Roma of their civil rights, and many of them were imprisoned and killed. Sweden also suffered from the economic crisis. At that time, a third of Swedish workers were unemployed. Many wanted change, and change came after the 1932 elections.

The Social Democratic Workers' Party became the largest in the country, and together with another party, the Farmers' Union, it embarked on numerous transformations. One of them was unemployment insurance.

Military preparations In 1936, as the international situation deteriorated, the Swedish government began to increase its military readiness. Sweden's military spending rose from $ 37 million in 1936 to $ 50 million in 1937 and $ 58.6 million in 1938, and then quadrupled to $ million in During the war itself, military spending peaked at $ million in 1942.

World War II Sweden did not take part in World War II. The Swedish government did not want the country's participation in the war, and at the beginning of the war, Sweden complied with numerous demands from Nazi Germany.

Post-war period Since Sweden did not participate in the war, Swedish companies were able to quickly resume the production and sale of their goods and services.

Economic growth in Sweden In the late 1980s and early 1990s, the Swedish economy suffered from low growth and high inflation, and the national currency, the Swedish krona, repeatedly depreciated. During a severe financial crisis in the early 1990s, the stability of Swedish banks shook, two of them were nationalized, unemployment soared, and public spending and public debt increased. The return to stability was not easy. But by reformingand staying committedSweden has transformed its economy, paving the way for sustainable growth amid global economic uncertainty.