Coronavirus has boosted federal contract spending

Source: federalnewsnetwork.com

Tom Temin: Rob, good to have you back.

Rob Levinson: Great to be here Tom.

Tom Temin: So tell us first of all the top line how much has spending increased because of the pandemic?

Rob Levinson: Well, the top line Tom is $228 billion as of the end of the fiscal 2020, which ended on September 30. Now, again, that is only for civilian agencies, we don’t have the DoD data, because it’s delayed three months. So we won’t know that until January. But this $228 billion does appear to be a record as far back as we can tell. And it boosted about 17% from the previous year, fiscal 2019, which is also it seems to be a record jump. Usually we get like single digit percent increases every year. So this was two or three times what we’ve seen in recent years.

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