Real wages may continue to rise in the SME sector

Whether we look at the 3-4.5 percent annual inflation expected by the Magyar Nemzeti Bank for this year, or the 2.5-3.5 percent indicated for 2025, wages in the SME sector may rise by more than this in the next year. Based on the second-quarter results of the K&H SME confidence index, which examines the expectations of Hungarian micro, small and medium-sized enterprises for the next year, enterprises indicate an average wage increase of 8.2 percent in the sector.

“Salary increases exceeding inflation are believed to represent a slow correction of the double-digit inflation typical of recent years, but it also shows the intention to retain a qualified and experienced workforce. This is also confirmed by the fact that, compared to 66 percent at the beginning of the year, 71 percent are currently counting on a wage increase”

– the results were detailed by Németh Ildikó Oraveczné, marketing manager of the residential and SME segment of K&H.