ECONOMIC BRIEFS

Parliament adopts law on public procurement

Parliament approved a new law on public procurement on September 14. The law specifies methods of procurement and calls for a Public Procurement Office (UVO) that will open its doors on January 1, 2000, the day the law takes effect. The office will oversee the public procurement process and fine violators of the law up to one million crowns.

In comparison with the previous 1993 law, the new law sets rules for the awarding of contracts not only for organizations and companies spending public money, but for other entities as well.

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