A 10% Increase in Minimum Wage Realistic for Near Future

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Negotiations on the mid-year increase in the minimum wage will begin at the end of August, according to 24.hu.

Employers are expecting annual inflation of 18% this year and are represented by VOSZ and are calling for the wages to generally recognize the part missing from this year's salaries with an increase close to 10%, and in the meantime, the government should provide targeted support to the businesses most in need.

In the current economic environment, it is not possible to trust that SMEs will receive state aid through a comprehensive tax reduction, the article notes.

According to a recent survey by VOSZ, the business mood among SMEs has worsened, many companies are starting to replenish their reserves, and the ratio of outstanding debts has increased recently, which always indicates trouble. 

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