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Gross wages climb 13.9 percent in March

The average gross wage in Hungary rose by an annual 13.9 percent to 658,400 forints (EUR 1,700) in March, the Central Statistical Office (KSH) said on Thursday.

The average net wage including benefits rose by 13.7 percent to 452,700 forints.

Real wages rose by 9.9 percent.

The gross median wage increased by 15.7 percent to 510,000 forints, while the net median wage rose by 15.9 percent to 354,500 forints.

Commenting on the data, Sandor Czomba, the state secretary for employment policy, said average wages had risen to an all-time high. He said the average wage in March had exceeded 1 million forints in three branches, namely the financial, energy and infocommunications sectors.

Not only had the government added 1 million jobs since former Socialist prime minister Ferenc Gyurcsany’s tenure, he said, but had also contributed to the average wage more than tripling since 2010.

The state secretary said the government’s successful measures to rein in inflation along with the 15 percent increase in the basic minimum wage and the 10 percent hike in the minimum wage for skilled workers had resulted in renewed growth in real wages from September.

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