• Home
• Channel: Finance
• Wage Increase Shows Hungary’s Improving Economic Performance

Wage Increase Shows Hungary’s Improving Economic Performance

• 18 Jan 2019 7:30 AM
• Hungary Matters

The 26% increase in average wages in the past two years has demonstrated Hungary’s improving economic performance, a finance ministry official said.

Thanks to a six-year wage agreement initiated by the government, incomes have been continually increasing in the public sector, as well as in the business sector, state secretary in charge of employment police and company relations Sándor Bodó told a press conference.

In line with the agreement, the minimum wage increased by 15% and the minimum wage for skilled workers increased by 25% in 2017, he said. Last year, the increase was 8% and 12%, respectively, he added.

In euro terms, Hungary reported the second fastest gross minimum wage growth within the Visegrad Group in both 2017 and 2018, he said.

In the same period, the growth in wages’ purchasing power parity grew the fastest in Hungary within the V4, he added.

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Wage Increase Economy

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports

Hungary Scores 63 on Mastercard Digital Payment Index

• 12 Nov 2025 5:36 AM

Hungary's score on the Mastercard Digital Payment Index has reached 63 on a scale of 1 to 100. Hungary's score on the index, which assesses the digitalisation of consumer payments in the areas of market readiness, digital payment adoption and consumer knowledge and attitudes, improved twelve points in five years, Mastercard said.



Banks Oppose Raising Free Withdrawal Limit in Hungary

• 3 Nov 2025 7:15 AM

The Hungarian Banking Association voiced its "firm opposition" to draft legislation that would raise the amount of cash retail clients may withdraw free of charge from ATMs in a statement on Friday.



Gov't Withdraws HUF 6.2 Billion from Municipal Accounts - 'Fatal Stab' to Budapest?

• 30 Oct 2025 5:50 AM

The government has withdrawn another 6.2 billion forints from the metropolitan accounts, Budapest Mayor Gergely Karácsony said on Wednesday, adding that the move was a "fatal stab" to the city's finances.



New fixed 3% Loan Scheme for SME'S in Hungary Unveiled by Orbán

• 6 Oct 2025 12:59 PM

A fixed 3 percent interest rate loan scheme with a maximum value of 150 million forints will be launched for Hungarian small and medium-sized enterprises from October 6, Prime Minister Viktor Orbán said.