• Coronavirus in Hungary
  • Budapest
  • Hungary border control
  • HelloMagyar
EnglishFrenchGermanSpanish
EnglishFrenchGermanSpanish
Hungarian gross wages rise by 5.7 pc in JuneHungarian gross wages rise by 5.7 pc in JuneHungarian gross wages rise by 5.7 pc in JuneHungarian gross wages rise by 5.7 pc in June
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Breaking News
  • NATO will kick out Hungary for sacking ‘NATO friend officers’ from the Hungarian military?

Support us
Daily News Daily News · 19/08/2016
· Business

Hungarian gross wages rise by 5.7 pc in June

economy labour market

Budapest, August 19 (MTI) – The average gross wage in Hungary was 259,875 forints (EUR 837) in June, up by 5.7 percent from the same month a year earlier, the Central Statistical Office (KSH) said on Friday.

Net wage growth outpaced the increase, rising by 7.3 percent to 172,818 forints, because of a one percentage point cut in the personal income tax rate from January.

Analysts polled by MTI said that the upward trend could continue, supported by domestic consumption.

Takarékbank analyst Gergely Suppán said the annual gross wage increase could be 5.6 percent, while in net terms the increase could reach 7.2 percent in light of the tax changes. With annual inflation seen at 0.6 percent, the real wage increase could be 6.6 percent, he said.

Button

Erste Bank’s Gergely Ürmössy said he expected an annual gross wage increase of 6-7 percent.

Dávid Németh of K&H Bank said the statistical figures came as no surprise, adding that apart from cuts in the personal income tax and higher minimum wages employers paying higher salaries in sectors hit by labour shortage will also support the trend to continue. He added that many companies will ensure pay hikes in the second half of the year, which may result in a leap in the trend.

According to Németh, this year’s real wage increase could be around 7-8 percent, which could slow down to 4-5 percent in 2017, due to an expected inflation of 2 percent.

Photo: infoszfera.hu

Source: MTI

economy labour market
Share
Daily News
Daily News

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

Latest news
  • Hungarian minister: the USA is dangerous on Europe’s economy
  • Hungary’s solar feed-in halt threatens EU funds access
  • Hungarian FM slams the EU in Azerbaijan
  • PHOTOS: Budapest mayor in Transcarpathia, Ukraine, delivers aid
  • NATO will kick out Hungary for sacking ‘NATO friend officers’ from the Hungarian military?
  • PHOTOS: Delhi Hungarian Cultural Centre commemorated famous Hungarian-Indian painter
  • Snowstorm: Lufthansa plane almost ran out of fuel over Hungary, passengers in shock
  • What happened today in Hungary? – 3 February, 2023

About us

Contact us

Copyright rules

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V