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> Where have you read it?
That's just follows what you wrote here based on Tooze's work. Tho yes I could have thought about spending the money differently since Hungary was in similar shoes. She was isolated with very few trade partners, but we spent mostly on not profit producing investments, because we mostly kept the military restrictions we were sanctioned (well at least we colored out of the lines less boldly than the Germans), only later in the 30's we started to invest in the military more heavily.
Also the situation also similar what we are in the EU. What the moneyz EU gives, we can't support local companies (we aren't allowed to produce competing goods) we can only spend it on logistics and niceties.