Real wages in Hungary have risen by almost 40 percent over the past five years largely thanks to the wage deal reached between the government and employers in 2016, according to the business daily Világazdaság.
Since 2013, wages have seen the longest sustained growth since the change in political system in 1989-1990.
Last November, full-time employees earned 438,200 forints (EUR 1,220) before tax, 9.6 percent more than a year earlier, while the increase in salaries in real terms last year may have reached 6 percent.
As we wrote a few weeks ago, Hungary has the second-lowest nominal minimum wage, after Bulgaria. The situation is not so bad in terms of purchasing power parity, which also takes into account the price level, as four other countries, Bulgaria, Lithuania, Estonia, and Slovakia, have it worse. Details HERE.