Банкеръ Weekly

Briefs

EXCHANGE TRADE EXPECTED TO STIR UP IN 2002

The management of the Sofia Commodity Exchange AD forecasts growth in the exchange trade after the Amendments to the Public Procurement Act are passed. The new provisions were moved to the National Assembly in the last days of December 2001. The amended act, drafted by Council of Ministers experts, will allow the State institutions to buy many products from the commodity exchange instead of inviting tenders for them. Paradoxically, many of the institutions so far could not purchase the products at exchange prices and were picking up the suppliers themselves, Vassil Simov, Chief Executive Director of the Sofia Commodity Exchange AD, commented. This created conditions for corruption and payment 'under the table' in tenders for commodities with fixed exchange prices, Mr. Simov explained.

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