Employees at state-owned companies due HUF 22 bln in wage compensation

Banking

About 80,000 employees at majority state-owned companies are eligible for some HUF 22 billion in wage compensation this year, the Hungarian National Asset Management Company (MNV) told MTI on Wednesday.

Under an earlier announced government measure, Hungarians who take home less pay because of tax changes are to receive compensation.

MNV said the state-owned companies would pay the compensation from their own resources, but would inform their owner if this is not possible.

The elimination of employee tax write-offs and a one-percentage-point rise in the health insurance payroll tax from the start of 2012 has reduced the net pay of Hungarians who earn less than gross monthly HUF 216,806 from a year earlier.

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