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Government decree to raise minimum wage by 5.7%

The monthly minimum wage will increase 5.7%, to HUF 111,000 for unskilled workers and HUF 129,000 for skilled workers, in 2016, according to a government decree published yesterday in the official gazette Magyar Közlöny.

The increases are in line with an agreement reached by the Government Permanent Consultative Forum (VKF), which is a body containing representative of the government, workers and employers, according to state news agency MTI.

MTI notes that the increase in minimum wages is well above the anticipated 1.6% annual inflation rate that the the National Bank of Hungary has forecast for 2016.