Wage Increase Shows Hungary’s Improving Economic Performance

  • 18 Jan 2019 7:30 AM
  • Hungary Matters
Wage Increase Shows Hungary’s Improving Economic Performance
The 26% increase in average wages in the past two years has demonstrated Hungary’s improving economic performance, a finance ministry official said.

Thanks to a six-year wage agreement initiated by the government, incomes have been continually increasing in the public sector, as well as in the business sector, state secretary in charge of employment police and company relations Sándor Bodó told a press conference.

In line with the agreement, the minimum wage increased by 15% and the minimum wage for skilled workers increased by 25% in 2017, he said. Last year, the increase was 8% and 12%, respectively, he added.

In euro terms, Hungary reported the second fastest gross minimum wage growth within the Visegrad Group in both 2017 and 2018, he said.

In the same period, the growth in wages’ purchasing power parity grew the fastest in Hungary within the V4, he added.

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