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9/27/05

portfolio.hu: Hungary to hike minimum wage 75% by 2010 - PM

portfolio.hu

Hungary to hike minimum wage 75% by 2010

The Hungarian government wishes to raise the minimum wage to at least HUF 100,000 on average from the current HUF 57,000 by 2010, Prime Minister Ferenc Gyurcsány announced. “If we say that our economy is growing faster than the European economy and we add that we want to adjust the rise of wages to this expansion, then we will catch up with the European average also in terms of wages," Gyurcsány said in Parliament on Monday. The government is also proposing a new three-tier minimum wage system from 2006, based on qualifications.

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