Public procurement contract value rises 29% in 2024

The value of public procurements in Hungary rose 29% to HUF 3.692 trillion in 2024, news wire MTI writes, citing a report published by the Public Procurement Authority.

The number of public procurement procedures fell 5% to 7,592.

Construction contracts accounted for 34% of the value of public procurements and orders of goods for 27%.

Services made up 39% of the total.

The value of construction contracts rose to HUF 1.25 tln from HUF 910 bln in the base period. Microbusinesses and SMEs won 43% of contracts in terms of value and 77% in terms of numbers, the report shows.

The share of single-bid procedures was 12% for contracts with values under the threshold for inclusion in the EU’s tender system and 27% for contracts with values over the threshold.

The number of negotiated procedures stood at 217 in 2024.

The number of bids per public procurement contract averaged 3.2 during the year.

Source: Budapest Business Journal