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Hungarian net wages fall back, among lowest in EU

MNB

Photo by By Dobo Kristian/Shutterstock.com

In terms of average net wages, Hungary has fallen back in European comparison, news site hvg.hu reported, citing data compiled by Eurostat, the statistical body of the European Union.

Photo: Kristian Dobo / Shutterstock.com

Hungarian average annual net earnings were the fifth lowest in the EU in 2017, then EUR 8,023. By May 2018, however, wages in Hungary had fallen to the fourth lowest at EUR 8,630; Lithuania just pipped ahead into fifth lowest on EUR 8,661.

While the Hungarian Central Statistical Office (KSH) registered an 11% average net salary increase in Hungary in 2018, Eurostat reported only 7.5%. The difference derives from weakening forint exchange rates.

There are only three countries in the European Union where net annual wages are lower than in Hungary: Latvia (EUR 8,508), Romania (EUR 5,874), and Bulgaria (EUR 5,512), hvg.hu reported.

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