Hungary to raise pensions by 1.6%

Analysis

The Hungarian government is planning to raise the amount of pensions paid by 1.6%, which is expected to affect 2.6 million pensioners, Minister of Human Capacities Zoltán Balog said, Hungarian online daily origo.hu reported today.

Balog said that the raise applies to all types of pensions, origo.hu reported. The minister noted that the Hungarian government promised in 2010 and 2014 that it would preserve the real value of pensions, adding that the value of pensions has increased due to good inflationary figures, origo.hu reported.

Balog reportedly said that in real value terms, pensions saw an 8.6% rise in the period of 2011-2015, while they grew by 21.6% in nominal value, origo.hu reported.

ADVERTISEMENT

458 new COVID cases registered in Hungary Figures

458 new COVID cases registered in Hungary

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.