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.

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