Purchasing power of wages up 40 pc in past 5 years

Real wages in Hungary have risen by almost 40 percent over the past five years largely thanks to the wage deal reached between the government and employers in 2016, according to the business daily Vilagazdasag.

Since 2013, wages have seen the longest sustained growth since the change in political system in 1989-1990.

Last November, full-time employees earned 438,200 forints (EUR 1,220) before tax, 9.6 percent more than a year earlier, while the increase in salaries in real terms last year may have reached 6 percent.

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