Hungary gross wages climb, 200,000 Hungarians in fostered work

Budapest, January 20 (MTI) – The average gross wage in Hungary rose by an annual 8.2 percent to 285,800 forints (EUR 926 ) in November, the Central Statistical Office (KSH) said on Friday.

Net wage growth outpaced the increase, climbing 9.8 percent to 190,000 forints (EUR 616) due to a one percentage point cut in the personal income tax rate from January 2016.

KSH noted that wages have been boosted last year by a higher minimum wage as well as pay increases for the armed forces and wage top-ups for social services and healthcare workers.

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Excluding the 200,000 Hungarians in fostered work, the average gross wage rose by 8.3 percent to 302,124 forints, while net wages increased by 10 percent to 200,913 forints.

Full-time fostered workers earned gross 80,725 forints (EUR 262) on average during the month, 1.3 percent more than in the same period a year earlier.