• Home
• Channel: Finance
• Foreign Workers’ Income In Hungary At Record HUF 278 Billion

Foreign Workers’ Income In Hungary At Record HUF 278 Billion

• 15 Oct 2019 8:05 AM
• Budapest Business Journal

The income of foreign workers in Hungary grew 30% to a record HUF 278 billion last year, index.hu says.

The previous highest amount was HUF 240 bln recorded in 2008, before the economic crisis. The rate stood at around HUF 160 bln for several years and started to increase again after 2015. The rise is driven mostly by the intensified labor shortage, as well as growing wages.

Part of the HUF 278 bln is usually transferred back home by foreigners, but majority is spent in Hungary on living costs.

Despite the specific request of MPs, the government have declined to reveal exact figures on the number of foreign workers in Hungary, index.hu says.

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

• Foreign Workers Income Wages

XpatLoop Media Partner

Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

Explore More Reports

Consumer Price Index Inches Up in Hungary - Basic Food Prices Up Steeply Again

• 13 Nov 2024 11:36 AM

Hungary's annualised consumer price index reached 3.2pc in October, inching up from 3.0pc in the previous month, data released by the Central Statistics Office (KSH) on Tuesday show.



Updated: NBH Sees Inflation Slowing Further in September in Hungary

• 27 Sep 2024 6:00 AM

August's 3.4pc CPI was in line with the National Bank of Hungary's expectations, and the central bank sees inflation falling to 3.1pc in September, Andras Balatoni, an NBH director said.



Updated: Economic Policy Turnaround Called for by Hungarian Central Bank Governor

• 8 Sep 2024 6:14 AM

Central bank governor Gyorgy Matolcsy called for a complete turnaround in Hungary's economic policy at the 62nd Itinerant Conference of Economists in Nyiregyhaza (NE Hungary).



Inflation in Hungary at 4.1% - Food Prices Rose by 2.7% in July

• 9 Aug 2024 8:07 AM

Hungary’s annual consumer price index was 4.1% in July, the Central Statistical Office (KSH) said. Month on month, consumer prices were up an average of 0.7%, with vehicle fuel prices rising by 3.8%.