Hungary increases minimum wage

03 Jan 2019

moneyHungary’s Minister of Finance, Mihály Varga, announced a rise in minimum wage on Sunday. The increase was set at 8% in an effort to improve the financial situation for Hungarian families.

As quoted by the Hungarian government’s official website, Varga said, “The minimum wage will increase by eight per cent in 2019.”

According to the minister, this increase will open up the opportunity for significant salary increases in 2019, just as it has in previous years. It will add the gross minimum wage to 149,000 forints (EUR 461).

The minister said that employment was also recording a consistent increase, with more than 4.5 million now recorded as in employment.

Varga, speaking at a press conference, went on to say that an additional increase of 8% will be implemented in 2020. This follows an agreement reached during talks in the permanent conference of employer, employee and government representatives (VKF).

A finance ministry statement revealed that all social partners of the government accepted the agreement – except for trade union federation MaSzSz.