Small Grocery Stores Drive Bulgaria's GDP Despite Hypermarket Competition
Small grocery stores contribute approximately 10% to Bulgaria's GDP
The supermarket chain Billa opened on Thursday its 25th store in Bulgaria's capital Sofia, the company announced.
Billa, which is owned by German concern REWE Group, currently operates 84 outlets in Bulgaria.
The new store is located in the very heart of the capital's downtown, on 9 "Pirotska" street.
Despite being smaller than the Billa supermarkets in the suburbs, of the so-called compact type, the store will offer a variety of merchandise, including produce, meat, and freshly baked bread and pastries, as well as grilled meat and salads prepared on the spot.
Billa is considered one of the most successful foreign investors in Bulgaria, and a large-scale employer, providing work for over 3 300 Bulgarians.
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According to a study presented to MPs by Prof. Emilia Chengelova, from the Institute of Philosophy and Sociology at the Bulgarian Academy of Sciences, the shadow (grey/informal) economy in Bulgaria remains high at 33%
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the last quarter of 2024, the proportion of properties purchased with mortgage loans in Bulgaria grew to 27%, or roughly every third property
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