Increasing minimum wages

The government, employers and trade unions have reached an agreement on next year’s wages. In November Minister for National Economy Mihály Varga announced: next year minimum wages will grow by 15 percent, the guaranteed minimum wage will be 25 percent higher and employers will have to pay 5 percentage points lower social security contributions. In 2018 the minimum wage will increase by 8 percent, the guaranteed minimum wage will be 12 percent higher and social security contributions will decrease by 2 percentage points.