Sándor Bodó, a state secretary at the ministry of innovation and technology (ITM), said Hungary's wages had steadily increased for 108 months straight. Hungarian tax policy is helpful for both employers and employees, Bodó said, adding that the taxes on employment had been steadily decreasing, meaning that firms have more money to pay better wages. On the employee side, he mentioned the exemption on personal income tax for those under-25s.
According to fresh data from the Central Statistical Office (KSH), Hungary's annual wage growth slowed to 9.7 percent in December from 10.1 percent in the previous month. Businesses with at least five people on the payroll show the average gross monthly wage for full-time employees was HUF 492,800 (EUR 1,377), while the average net wage was HUF 327,700. Calculating with annual inflation of 7.4 percent in December, real wages increased by 2.1 percent. In January-December last year, average gross and net earnings increased by 8.7 percent compared with 2020.
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