New Methodology allows inflation adjustment of public procurement costs

The Bulgarian government adopted a Methodology for changing the price of a public procurement contract as a result of inflation. It follows from the Public Procurement Act.

The methodology regulates the terms and conditions for indexation execution costs of public construction contracts and framework agreements for construction, concluded in accordance with the law, in which, as a result of inflation, the prices of basic goods and materials forming the cost of construction have been significantly increased.

The main goal of the methodology is to account for the inflation risk through an objective and fair indexation of the value of completed and upcoming activities.