Thursday, Sep 5, 2024. 15:35

Gov’t to Raise Pensions in January, Says Varga

Image by Alexandros Michailidis / Shutterstock.com

The budget working group has discussed next year's pensions, pensions will be raised in January and an annual bonus equivalent to a full month's pension will be distributed in February, Finance Minister Mihály Varga said on Facebook on Wednesday.

Varga noted that pensions have been raised by 18.5% last year and 6% this year. Pensions next year could increase by around 3.2%, equal to the expected annual inflation rate.

The annual bonus equivalent to a full month’s pension will be paid for the fifth time in February, he added.

The minister also claimed that even in wartime, the government is keeping its promise to pensioners and protecting the value of pensions.

Talking about the budget deficit, Varga said that it will be reduced to 4.5% of GDP this year, then fall to 3.7% next year and 2.9% in 2026. He also argued that the national debt ratio will improve from year to year.

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