Analysis of the Contract System Functioning Effectiveness

–The article deals with the relevant topic of economic research of the contract system functioning effectiveness in the field of procurement (on the example of Oryol region). The study of the contract system effectiveness is of interest within determining the effectiveness of both enterprises and their associations (clusters, in particular) functioning. Currently, the issues of public procurement discussed by the authors in the article are important for the region’s socioeconomic development, since the state order covers all spheres of the economy and provides society with the necessary goods, works and services. In the article, the authors have analyzed information collected from publicly available official sources. The structure of procurement to meet the needs of the region in 2019 by procurement methods was considered, information on government contracts concluded based on the results of procurement to meet the needs of the region was studied, the value of concluded contracts and budget savings following the bidding results, as well as the value of procurement and budget savings according to the product range were analyzed. The authors pay special attention to the analysis of the amount of savings on food products. The results obtained are of practical importance and contribute to the development of economic relations in the area of procurement in the region. Keywords––public procurement, contract, electronic auction, procurement monitoring, budget savings, contract system efficiency