Net Wage Boom Expected in 2025 [Video]

Wage outflows in the Hungarian economy may remain strong, with the expected increase in the minimum wage firmly supporting double-digit wage growth. It is almost certain that the domestic minimum wage will rise above 10% in 2025, after 15% this year, writes Világgazdaság.

Raising the guaranteed minimum wage is a more difficult question, as it affects many more workers and firms, but the two wage elements are expected to continue to push the overall wage scale ahead of themselves, directly affecting the earnings of nearly 2 million workers.

This has also led to double-digit average earnings growth in recent years, and on current trends there is a strong chance that this will continue.

Average gross earnings rose by 13.3% in the latest quarter, the lowest level this year but still better than previously expected. At the end of last year, the government, the central bank and analysts had all predicted a single-digit …