Speaking on public television on Thursday, Sándor Czomba, the state secretary for employment policy, said there was a "realistic chance" for the minimum wage to reach EUR 1,000/month and the average gross wage to climb to HUF 1 million/month by 2028.
Czomba told news channel M1 that the targets could be reached if GDP growth accelerated and inflation stayed predictably low. He added that talks between the government, employers and unions on next year's minimum wage increase and wage developments for the coming three years were continuing.
The government aims to raise the minimum wage to 50pc of the level of the average wage, excluding bonuses, in 2027, he said. That would bring the minimum wage to HUF 370,000 375,000/month, according to calculations at present, he added.
Achieving that level would require annual increases of 12 percent, although the exact scale of the rise would depend on GDP growth, he said, adding that consensus between the sides had been reached on that point.
The government expects GDP to grow 3-4pc in 2025 and 4-5pc in 2026, he said.