In 2025, we can say goodbye to the minimum wage increase of over 10 percent, as a result of which the gross domestic product (GDP) was almost one percent smaller in the third quarter of this year – at least this is clear from the statement given by the vice president of the Association of Employers and Manufacturers to the RTL news station.
As we reported earlier, not only was the Hungarian economy unable to achieve above-zero growth, but it went into a nosedive. The value of GDP is this year’s III. quarter was 0.7 percent lower than last year’s similar figure, and even lower than this year’s second quarter figure. Thus, in the first three quarters, the Hungarian economy grew by 0.6 percent – that is, it is quite possible that this year’s annual GDP growth will not even add up to one percent. Since the performance of the Hungarian economy has decreased in two consecutive quarters, we can again speak of a recession.
The Hungarian economy went into recession again, the 0.7 percent drop fell short of all analysts’ expectations
Ferenc Rolek told the channel that the current numbers allow for an increase of around six percent, and if we want to catch up a bit with the minimum wage, then the increase can be slightly higher accordingly. However, according to the vice president, this would only exceed the already mentioned six percent by one percentage point. And although the unions want 12 percent, the employers say that 10 percent is out of the question next year. Ferenc Rolek emphasized that the rate of increase will definitely be in the single digits.
KSH: the gross average salary is HUF 628,800, while half of Hungarians actually receive less than HUF 360,100 for their work.
Source: nepszava.hu
