Hungarian wages continue to rise
During the last seven years, average gross monthly wages have grown significantly and reached nearly HUF 300,000, according to data released by the Central Statistical Office (KSH). Government measures raising the guaranteed minimum wage have contributed to the increase.
Since 2010, average gross monthly wages have grown by 30%, and average net wages by 32%, according to KSH figures, published by online news portal vg.hu.
Last year, average gross wages were above HUF 263,000 and average net wages HUF 175,000. In June this year, average gross wages reached HUF 297,000, a 14.4% increase year-on-year. This means that, compared to 2010, wages grew by more than 40% up to the first half of 2017.
The KSH notes that the fast growth was due to government measures such as lifting the minimum wage and increasing wages in public administration and at public utility companies.
The government plans a further increase of 12% next year in the minimum wage, which will amount to HUF 180,500 from January 1.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.