Wage increase shows improving Economic performance

The 26 percent increase in average wages in the past two years has demonstrated Hungary’s improving economic performance, a finance ministry official said on Thursday.

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 percent and the minimum wage for skilled workers increased by 25 percent in 2017, he said. Last year, the increase was 8 percent and 12 percent, respectively, he added. In euro terms, the gross minimum wage grew the second fastest in Hungary within the Visegrád 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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