Minimum wage set to increase in 2022

The Hungarian government has announced that it will increase the minimum wage by almost 20% in 2022.

Key Points:

• Hungary’s monthly national minimum wage will increase on by 32,600 Hungarian forint from 167,400 HUF to 200,000 HUF.
  • The monthly minimum wage for skilled workers will increase by 41,000 HUF from 219,000 HUF to 260,000 HUF.
• The new minimum wage will take effect Jan. 1, 2022.

BAL Analysis: Businesses may see a slight increase in labor costs because of the new minimum wage levels. Employers should take the new minimums into account when planning their 2022 budgets.

This alert has been provided by the BAL Global Practice group. For additional information, please contact berryapplemanleiden@bal.com.

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