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After a meeting of the monitoring committee of the VKF, a forum of employers, unions and the government, László Perlusz, the chief secretary of employers association VOSZ, said the three-year agreement should be renegotiated in light of lower than expected GDP growth.
He explained that GDP growth was now expected to be under 1% in 2025, below the 3.4% assumed when the agreement was signed.
Imre Palkovics, who heads workers council association MOSZ, acknowledged that higher-than-expected inflation and lower-than-expected GDP growth established the conditions for renegotiating the agreement, but suggested wage increases could be benchmarked to corporate profit growth in Q1-Q3 rather than to GDP growth.
He added that corporate profitability in Hungary was in the mid-range in comparison with other European Union member states, while the development of payroll costs was third from the bottom in the EU ranking, according to a study published recently by the National Economy Ministry.
He said unions wanted to keep the 13% minimum wage rise for 2026 in the original agreement.
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