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National economy minister: Hungarian government targets rapid wage convergence
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The government targets a rapid wage convergence, paired with GDP growth of 3-6pc, from next year, National Economy Minister Márton Nagy said at an awards presentation on Friday.
Nagy said this year’s GDP growth had failed to meet expectations mainly because of the downturn of the German economy — which hit the automotive industry hard — and domestic consumption developments. He said that third-quarter GDP growth was “minimal” and put fourth-quarter growth at 1-2pc. He augured a sharp rise in GDP growth from the first quarter of 2025, putting Hungary in the “3-6pc category”.
The government targets a minimum wage of EUR 1,000/month and an average gross wage of HUF 1m/month by 2028, he said.
He said the government supported an agreement between employers and unions that would raise the minimum wage to 50pc of the average wage by 2027. That would require the minimum wage to rise from HUF 266,800/month at present to HUF 374,800 by January 1, 2027, and to HUF 419,815 a year later, he added.
It’s complete fairy tales from Fidesz. The average wage is determined by the marketplace and the government has no direction in it. Are Hungarians that stupid that they can actually believe that this government can determine what their wages are?