By Own Correspondent| Government is reportedly set to lay off thousands of its employees in a bid to reduce government spending and taking out the economy out a deep recession.

The economy slipped into a recession in the second quarter of the year.

The public sector retrenchments are set to complement other austerity measures already put in place by the government to revive the economy.

This is also expected to slash the huge government wage bill.

Presenting the 2018 and 2020 budget priorities before the before the parliamentary portfolio committee on Monday, Finance Secretary George Guvataga said:

“The 2019 and 2020 National Budget will institute wage bill containment measures which will reduce the annual wage bill outlay by around $200 million (0,9 percent Gross Domestic Product) and $130 million (0,6 percent Gross Domestic Product) respectively…

The measures to be enunciated are right-sizing public employment, the rationalism of posts in the public service and (sic) strengthening wage bill management.”-DailyNews