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.
