How did the Great Depression affect Estonia in the early 1930s?

The Great Depression of the early 1930s significantly impacted Estonia by causing widespread unemployment and a sharp decline in agricultural prices.12

These economic hardships exposed the limitations of the 1920 constitution, which hindered the strong government action required to address the crisis. Consequently, the political landscape shifted: a new constitution was adopted in 1933 that granted sweeping powers to the president. In March 1934, Konstantin Päts proclaimed a state of emergency, banned the political activities of all parties, and assumed dictatorial powers to stabilize the country.12