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Jan 02, 2019

Hungary’s minimum wage increases by 8 percent

Mihály Varga, minister of Finance, announced that wages will increase by a further 8 percent in 2020

Hungary’s minimum wage increased by 8 percent on January 1st.

Mihály Varga, Minister of Finance, announced that wages will increase by a further 8 percent in 2020.

Minister Varga made the announcement after a two-year agreement was reached during talks in the permanent conference of employer, employee, and government representatives (VKF).

The increase will bring the gross minimum wage to 149,000 HUF (461 EUR) and the guaranteed gross minimum wage — the minimum wage for employees with certain qualifications — to 195,000 HUF (604 EUR).

The finance ministry stated that all parties involved in the conference accepted the agreement except for the trade union federation MaSzSz.