Addressing the Impact of Inflation on Government Contracts

Source: THE CGP

Supply chain challenges and inflation are having a negative impact on businesses across the economy. The federal procurement system, a subset of that economy, is not immune to these impacts. Indeed, the same cost increases affecting the performance of businesses, especially small businesses, in the private sector have materialized for businesses seeking to meet their contractual obligations under government contracts.

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Source: EXEC GOV Federal government contracting is a highly-competitive industry. In the last fiscal year, 2021, the U.S. spent $629 billion on government contracts alone, and it is projected to rise