The social partners have signed an agreement to increase the minimum wage for 2025-2027.
From January 1, 2025, the minimum wage will increase by 9% to a gross amount of HUF 290,800 (EUR 704) per month, one year later by a further 13% and from January 1, 2027 by a further 14% to HUF 374,600 (EUR 907). The guaranteed minimum wage for skilled workers will be increased by 7% to a gross HUF 348,800 (EUR 844) in 2025.
According to estimates by the Ministry of Economy, gross average wages are set to rise by 8.7% in 2025, 7.6% in 2026 and 7.4% in 2027 – with economic growth of 3.4-4.1-4.3% and inflation falling from 3.2% to 3%.