like assets and credit exposures almost doubled. Economic Downturn of 2020 The Armenian economy performed poorly in 2020, and contracted after years of consecutive growth. This downturn was due to a combination of different causes. The two biggest contributing factors were the Coronavirus pandemic and the Second Nagorno-Karabakh War. In the first half of 2020, the Armenian economy was negatively impacted by the economic restrictions that were implemented in order to combat the Coronavirus pandemic. These restrictions included a stay at home order, an indoor social distancing requirement, and a mask mandate. These restrictions impacted businesses negatively. According to the World Bank, individual consumption dropped by 9% in the first six months of 2020. This drop in consumer consumption was due to the stay at home order that was intended to combat the spread of COVID-19. However, without significant government support to offset lost wages, inflation climbed to over 4% during the 2020 calendar year. The economy was further impacted by the Second Nagorno-Karabakh War. Early in the war, the central government mobilized the country by converting private businesses into public ones, producing masks and military equipment. During this time, many factories were converted from private-use to public, which further negatively impacted the economic output of the nation. GDP growth is projected to recoup halfway in 2021 up to 3.4 percent and will increase up to 4.3 percent in 2022. The recovery will be moderate, as the economy is probably not going to get back to pre-COVID yield levels until 2023. Specialists won't authorize extra lockdowns and limitations in 2021. Albeit the speed of vaccinations progressively increases, specialists don't anticipate immunizing the majority of the population until 2022. Main sectors of economy Agricultural sector Armenia produced in 2018: 415 thousand tons of potato; 199 thousand tons of vegetable; 187 thousand tons of wheat; 179 thousand tons of grape; 138 thousand tons of tomato; 126 thousand tons of watermelon; 124 thousand tons of barley; 109 thousand tons of apple; 104 thousand tons of apricot (12th largest world producer);; 89 thousand tons of cabbage; 54 thousand tons of sugar beet; 52 thousand tons of peach; 50 thousand tons of cucumber; 39 thousand tons of onion; In addition to smaller productions of other agricultural products. As of 2010, the agricultural production comprises on average 25 percent of Armenia's GDP. In 2006, the agricultural sector accounted for about 20 percent of Armenia's GDP. Armenia's