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  • Thursday, April 25, 2024

Report: Federal Contract Spending Rose by 6% Annually From FY 2014-2018


Federal contract spending has increased by 5.8 percent per year in the past five fiscal years driven by agencies’ rising use of simplified acquisition procedures and governmentwide procurement contracts, Bloomberg Government reported Wednesday.

Contract spending in FY 2018 reached $560B, according to the report.

Federal agencies obligated $15B on government acquisition contracts in FY 2018 to procure information technology products and services, up from $13B in FY 2017.

The report noted that agencies spent approximately $34B more on indefinite-delivery contracts than on definitive contracts in FY 2018.

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