Sweden is the largest donor of foreign aid in relation to the size of its economy. It has continuously committed to donating around 1% of gross national income to its official development assistance, making it one of the few countries to actually exceed the United Nations aid target of 0.7%.
Despite mounting pressure from far-right parties to reduce ODA, Sweden maintains its longstanding commitment to international development. Currently, the parties in government emphasize democratic governance and human rights, which could lead to an increase in the budget.
However, the European economic forecast for Sweden for 2020 predicts a slowdown in economic growth from 1.7% to 1.5%, which could impact the overall ODA budget. Sweden's budget for 2020 proposed an increase in spending in Swedish krona, but an overall decrease in U.S. dollars due to the fluctuation rate.