Real wages rose 6.9% iin January-February 2016, according to the Hungarian Central Statistical Office (KSH). The purchasing power of wages has been climbing for three years now.
Gross and net wages – excluding family tax allowances – averaged HUF 248, 800 and HUF 165,500, respectively in the period January-February 2016. Including family tax allowances, average net wage was estimated at HUF 172,600. Excluding the effect of public work schemes, gross wages averaged HUF 263, 900 in the private sector, HUF 260,600 at budgetary institutions and HUF 238,800 at non-profit organizations in the observed period. Within the national economy -- taking into account the effect of public work schemes - real wages rose by 6.9%, while excluding this factor they were up by 7.5%
Thanks to private and public sector wage hikes, favourable inflation, tax cuts and rising minimum wages, real wages have been steadily higher in Hungar, the Ministery for Economy Ministry said in a statement.
