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Wages Need to Rise With Productivity, Says VOSz

Analysis

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"Wages can only be permanently raised if our productivity and competitiveness improve; as long as we are at the end of the line, we cannot significantly deviate from this," stated László Perlusz, secretary general of the National Association of Entrepreneurs and Employers (VOSz).

He made the comment to the business daily Világgazdaság, after the negotiations on raising the minimum wage began in the monitoring committee of the Permanent Consultation Forum of the Competition Sector and the Government at the end of August.

He believes that the wage situation in Hungary reflects the Hungarian competitiveness and productivity level, which is at the bottom of the EU ranking.

The wage catch-up is continuous, thanks to a 2016 wage agreement, but the world is so volatile now that, according to him, a similar arrangement cannot be concluded.

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