Gergely Suppan: it seems realistic to reach a minimum wage of 1,000 euros in the coming years

In the coming years, the minimum wage may reach HUF 400,000, and at the current euro exchange rate, it may even exceed EUR 1,000, so the minimum wage around that seems completely realistic – said the leading economist of the Ministry of National Economy (NGM) on Friday on the current channel M1.

Gergely Suppan stated that in order for this catch-up to be achieved, the minimum wage must increase by an average of 12 percent in the coming years.

At the same time, he indicated, the amount of the increase may vary from year to year, depending on economic performance.

He pointed out that the development of minimum wages is being discussed by representatives of employers and employees at the Permanent Consultation Forum (VKF) of the Competition Sector and the Government. The parties agreed to strive for a 3-year wage agreement, as this means predictability in the economy – he reminded.

He added that a fairly strong wage catch-up process is also taking place in the region, so Hungary “will not be too far out of line”, so there is no need to fear that rising wages will weigh on inflation or that the forint would weaken significantly.