Report: Federal IT Spending Projected to Exceed $93B in Fiscal 2020

Bloomberg Government analysts forecast that the federal government will invest more than $93B in information technology programs if current spending trends continue across agencies, Nextgov reported Tuesday.

“Based on historical spending trends, we’re looking at between $93 and $94B in an IT budget, about half of which will go to civilian agencies and the other half will go to the Pentagon,” Chris Cornillie, a BGOV federal market analyst, was quoted as saying.

Cornillie said during a webcast held Tuesday that federal IT contract awards jumped from $59B to $64.7B over the past two fiscal years.

He added the government may continue to increase spending on artificial intelligence, cloud computing and digital services in the current fiscal year as part of modernization efforts.

The report noted the Trump administration could issue its FY 2020 budget proposal in mid-March.

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