worker-Hungary
Photo: MTI

The average gross wage for full-time workers in Hungary grew by an annual 11.5 percent to 358,876 forints (EUR 1087) in August, the Central Statistical Office (KSH) said on Wednesday.

Net wages grew at the same pace, reaching 238,653 forints (723 euros).

Calculating with twelve-month inflation of 3.1 percent in August, real wages were up 8.1 percent.

Commenting on the KSH data,

Finance Minister Mihály Varga noted that in the first half of the year the economy grew by an annual 5 percent, leading to persistent growth in wages, especially in the service sector, industry, construction, commerce and agriculture.

The current investment boom has also led to increased demand for labour, he said, adding that the higher minimum wage both for skilled and unskilled workers had put upward pressure on wages in sectors such as agriculture in which wages are lower than average.

As we wrote yesterday, conditions and ratios of income in Hungary are frequently compared with that of Romania. News are constantly filled with where there are higher salaries, lower taxes, or generally which country’s economic satiation is better. Now, data reveals that Hungarians’ wages are worth more.

Source: mti

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