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You are here: Home / Government Contracting News / Sequestration resulted in deep cuts to DoD procurement spending, report says

November 4, 2014 By AMK

Sequestration resulted in deep cuts to DoD procurement spending, report says

The Defense Department has cut contracting dollars by 16 percent in 2013 from the prior year as a result of sequestration, according to a recent report by the Center for Strategic and International Studies.

DoD’s budget was cut by about 8 percent in 2013, from 2012, and spending on procurement took the brunt of the hit, the Oct. 15 report says.

As a share of total gross defense outlays, Defense-funded contract obligations in 2013 have declined from 53 percent to 49 percent, which is the lowest share since 2002, the report says.

Keep reading this article at: http://www.fiercegovernment.com/story/sequestration-resulted-deep-cuts-dod-procurement-spending-report-says/2014-10-21

Filed Under: Government Contracting News Tagged With: DoD, sequestration, spending, spending controls

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