Editing Economy of Armenia (section)

== 2020 recession ==
The Armenian economy performed poorly in 2020, and contracted by 7.2% after years of consecutive growth. The two biggest contributing factors were the [[COVID-19 recession]] and the [[Second Nagorno-Karabakh War]].<ref name=":18">{{Cite journal |title=IMF Staff Country Reports |url=https://www.elibrary.imf.org/view/journals/002/002-overview.xml |access-date=2024-05-03 |website=IMF eLibrary |language=en |doi=10.5089/9798400262463.002|doi-access=free }}</ref> In the first half of 2020, the Armenian economy was negatively impacted by the economic restrictions that were implemented in response to the [[COVID-19 pandemic in Armenia|COVID-19 pandemic]]. These restrictions included a [[stay-at-home order]], an indoor [[social distancing measures related to the COVID-19 pandemic|social distancing]] requirement, and a [[face masks during the COVID-19 pandemic|mask mandate]]. These restrictions had a negative impact on businesses; according to the [[World Bank]], individual consumption dropped by 9% in the first six months of 2020 due to the stay-at-home order.<ref>{{Cite web |title=COVID-19 leaves a legacy of rising poverty and widening inequality |url=https://blogs.worldbank.org/en/developmenttalk/covid-19-leaves-legacy-rising-poverty-and-widening-inequality |access-date=2024-05-03 |website=World Bank Blogs |language=en}}</ref>

The economy was further impacted by the war against Azerbaijan later in the year.<ref name=":18" />