Page 63 - Eastern Europe Outlook 2020

domestic demand – supported by consumer lending, higher wages and large mostly state-funded investment projects.
Supermarket chain ​Eurotorg​ (aka Euroopt) earns over $1bn in revenues and is already one of the country’s biggest employers. As ​bne IntelliNews h​ as reported, a middle class is beginning to emerge as incomes rise and that has created a consumer-driven growth driver. Retail sales have expanded since the start of 2017 but have slowed noticeably since the second quarter of 2019.
However, overall industry has been dragged down by the slowing economy and economic and political headwinds that have been buffeting the country in 2019.
63​ EASTERN EUROPE Outlook 2020​ ​ ​www.intellinews.com