KSH: Hungary’s average gross earnings reach HUF 253,800
Average gross earnings for the period of January to March were up 6.0% compared to the same period of the previous year, reaching HUF 253,800 a month, according to a first release of data published by the Hungarian Central Statistical Office (KSH) today.
The 5.7% rise in the minimum wage and guaranteed minimum wage, as well as the salary increase of armed forces personnel and the payment of an additional allowance for those working in social services fields had an impact on earnings growth, according to KSH. As a result of the 1 percentage point reduction in the personal income tax rate, average net earnings rose 7.7%.
The average gross nominal earnings of full-time employees, according to national concept reached HUF 253,800 in the period of January to March at corporations employing at least five persons, budgetary and designated non-profit institutions, KSH added. Average gross earnings were the highest in financial and insurance fields at HUF 511,100, and the lowest in human health and social services fields, at HUF 150,700, KSH noted.
Average net earnings – excluding family tax benefits – were HUF 168,800 by national concept in January to March with an increase in tax benefits for families with two children boosting average net earnings in such cases to HUF 176,000, KSH added.
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