Here are the latest average wage figures for Hungary: an increase of over ten percent
Data released by the Central Statistics Office (KSH) on Tuesday show that the average gross wage in Hungary rose 11.0pc year-on-year to HUF 727,700 (EUR 1,815) in December.
Net wages climbed at the same pace to HUF 483,900 (EUR 1,207). Real wages rose 6.1pc, calculated with a December CPI of 4.6pc, KSH said. The gross median wage increased 13.1pc to HUF 560,900 (EUR 1399,33).
From December 1, 2023, Hungary’s statutory monthly minimum wage was raised by 15 percent to HUF 266,800 (EUR 665) for unskilled labourers and by 10 percent to HUF 326,000 (EUR 813) for skilled workers. Excluding the 64,200 Hungarians working full-time in fostered work programmes—who earned an average gross of HUF 133,300 in December—the average gross monthly wage was HUF 740,000 (EUR 1,846).
The average gross wage in the business sector, which includes state-owned companies, rose 9.5pc to HUF 733,100. The gross average wage in the public sector climbed 17.2pc to HUF 681,500. In the non-profit sector, the gross average wage increased 11.0pc to HUF 804,600 (EUR 2,007).
For the full year, gross wages averaged HUF 646,800 (EUR 1,613) and net wages came to HUF 430,100 (EUR 1,073), both up 13.2pc from the same period a year earlier.
Huge VAT refunds and tax exemptions are expected, the government has announced:
- Minister Nagy explained Orbán’s announcements: details on VAT refunds and tax exemptions – read details HERE
- Prime Minister Orbán opens the spring season in Parliament: announcements, tax cuts, Brussels