KSH: Hungaryʼs average gross earnings up 5.9%
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Average gross earnings in Hungary increased by 5.9% in the period of January-February as compared to the same period a year earlier, Hungary’s Central Statistical Office (KSH) reported today.
KSH said that the 5.7% rise of the minimum wage and the guaranteed minimum wage, as well as the salary increase of armed forces and the payment of an additional allowance for those working in the social field had an impact on earnings growth.
According to data by KSH the 1 percentage point reduction in the rate of personal income tax, the rise of average net earnings was 7.5% higher than that of average gross earnings.
KSH added that along with the 0.6 percentage point rise in consumer prices, real earnings increased by 6.9%. Wages and salaries, according to the SNA concept, rose by 5.8%, KSH added.
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