Revealing the Facts: A Brief History of Earnings in Hungary

A sustained and substantial improvement in earnings started in 2013 in Hungary. In that year the country managed to repay its previous IMF loan, giving the government more freedom to reform and restructure the tax system, including reducing taxes on labour. The six-year minimum wage agreement launched in 2017 doubled the minimum wage for jobs requiring qualifications by 2022 and increased the overall minimum wage by 80 per cent.