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Economy minister: Value of pensions expected to rise 3 pc next year, in line with inflation

Economy minister: Value of pensions expected to rise 3 pc next year, in line with inflation

Budapest, April 25 (MTI) – The government expects inflation will be 3 percent next year and the value of pension payments will rise by the same extent, Economy Minister Mihály Varga said in an interview to the daily Magyar Idők.

Pensioners are also likely to receive a bonus payment at the end of the year, Varga told the paper’s Tuesday issue.

He also noted that the 2018 budget proposal is about to be submitted to lawmakers, and the draft contains the pension rise.

Varga said that in the past few years, under the term of the current Fidesz government, the rate of increase in the value of pensions had actually outstripped inflation in years when rises in consumer prices had underperformed expectations.

Source: MTI

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