NGM promises an average salary of HUF 1 million

By: Trademagazin Date: 2024. 10. 24. 11:50

According to Márton Nagy, the minimum wage of 1,000 euros and the average salary of 1 million forints are achievable, the Minister of National Economy held a meeting on Tuesday with the members of the Competition Sector and the Government’s Permanent Consultation Forum (VKF), representatives of all employers’ and employers’ organizations that participate in determining the minimum wage – reported Nemzetgazdasági Minisztérium.

According to the statement, at the meeting, the head of the ministry presented the government’s New Economic Policy Action Plan, which consists of 21 measures, which will contribute to the Hungarian economy achieving growth of between 3-6 percent in 2025.

The minister explained: the aim of the government is to deliver the results of economic growth to the largest possible part of society, with particular regard to families and micro, small and medium-sized enterprises. In accordance with this, the second pillar of the action plan aims to increase the purchasing power of incomes. As part of this, the government strives to establish a three-year wage agreement between the employee and employer interest representatives, so that in the near future the minimum wage may reach 1,000 euros, and the gross average salary 1 million forints, they wrote.

At the same time, Márton Nagy stated that, taking into account the performance of the economy and businesses, rapid wage convergence must be based on dynamic economic growth and improvements in corporate efficiency and productivity. He added: in 2025, the Hungarian economy can expand by 3-4 percent, and in 2026 we can move into the 4-5 percent GDP growth band.