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Hungarian pensioners could get year-end ‘top-up’

Food

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Hungarian pensioners could get a year-end "premium" if GDP growth exceeds 3.5% and the deficit target is met, Minister for National Economy Mihály Varga said in an interview published in Tuesdayʼs issue of pro-government daily Magyar Idők. The ministry projects GDP growth of 4.1% this year.   

Pensioners will also get a retroactive top-up around the end of the year because inflation will most certainly exceed the earlier projected 1.6%, Varga added.   

Hungaryʼs government raises pensions each year by at least the rate of inflation, state news wire MTI notes.

The National Bank of Hungary (MNB) projects annual average inflation of 2.6% for this year.   

Last year, Hungarian pensioners were each awarded HUF 10,000 worth of ʼErzsébetʼ food vouchers as a year-end bonus.

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