Gross monthly wages in Hungary averaged HUF 264,471 in April, up 6.4 percent y-o-y, according to the Central Statistical Office. Net wage growth rose by 8 percent on average to HUF 175,874, thanks to a 1-percent cut in the personal income tax rate, which dropped to 15 percent in January. KSH estimates the country’s unemployment rate will be 5.70 percent within 12 months and by 2020 it is expected to drop to 5.10 percent.
