Finance Minister Mihaly Varga – Photo: MTI

Finance Minister: Hungary wage costs cut the most in EU

Over the past decade, Hungary has reduced wage-related costs to the greatest extent in the European Union, Finance Minister Mihaly Varga said in a Facebook post on Wednesday, citing Eurostat data.

This year, Hungary has slashed employers’ taxes by a total of 600 billion forints (EUR 1.7bn), likely retaining first place among EU member states’ top tax cutters in 2022, he said.

A graph in Varga’s post shows wage-related costs fell by 9.5 percentage points in Hungary between 2009 and 2020. in Portugal, they grew the most, by 5 percentage points, the graph showed.

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