Since 18 April 2016, new EU rules on Public Procurement and Concessions are in effect. Public procurement is of great economic importance, accounting for around 18% of EU GDP. The new rules will impact the way more than 250,000 public authorities in the EU countries spend a large part of the €1.9 trillion spent on public procurement every year in Europe. The EU Directives establish rules on the procedures for procurement by contracting authorities with respect to public contracts as well as design contests, whose value is estimated to be not less than certain thresholds (i.e. €5,186,000 in the case of public works contracts).