Hungarian wages growing

The average gross wage in Hungary rose by an annual 12.8 percent to 295,836 forints (EUR 944) in October, the Central Statistical Office (KSH) said on Wednesday.

Net wages grew at the same pace as gross wages, also climbing 12.8 percent to 196,731 forints.

KSH noted that wages have been boosted by a higher minimum wage as well as pay increases for social services and healthcare workers and some state employees.

Commenting on the data, Economy Minister Mihály Varga said the wage growth was in line with the government’s expectations.

October’s wage growth puts Hungary in second place regionally, behind Poland and ahead of Slovakia and the Czech Republic,

Varga told public news channel M1. He said the government wanted Hungary to close the regional wage gap at a faster pace.

The minister noted that under a 6-year agreement reached at the end of last year between the government, employers and unions, minimum wages for unskilled workers have risen by 15 percent and for skilled workers by 25 percent this year.

That agreement and further steps taken in the application of career models have delivered an increase of more than 10 percent in real wages, Varga said.