GAO: Federal Government Recorded $637B in FY 2021 Contract Obligations

A Government Accountability Office report shows that the federal government spent approximately $637.1 billion on contracts in fiscal year 2021 with defense agencies accounting for about $386.9 billion in FY 2021 contract obligations.

Federal spending on contracts in FY 2021 reflects a drop of $54 billion from the previous fiscal year and civilian agencies recorded a total of $250.2 billion in FY 2021 contract obligations, GAO said Thursday.

Defense agencies reported $193.9 billion in total spending on products in FY 2021 with drugs and biologicals representing $35.4 billion in agencies’ contract obligations.

These agencies competed $199.1 million worth of contracts in the last fiscal year, recording a competition rate of about 52 percent, according to the report.

Defense agencies spent $24.1 billion on fixed-wing aircraft, followed by combat ships and landing vessels at $15.9 billion and guided missiles at $8.9 billion.

Civilian agencies logged $250.2 billion in total FY 2021 contract obligations, including $199.1 billion spent on services.

According to GAO, federal spending related to the COVID-19 pandemic rose from $35 billion to $52 billion in the last fiscal year.

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