Real wages grow by 8 per cent
June 24th, 2016A conservative columnist commenting on record real wage growth believes that the government is on the right track to boost the economy.
In April, real wages in Hungary grew 8 per cent year on year, the highest growth since 2003. The fast wage growth is explained by low unemployment, wage hikes in the public sector, and low inflation.
The Orbán government has been successful in creating new jobs and at the same time increasing wages, Zsuzsa Farkas comments in Magyar Idők. The pro-government columnist recalls that due to the Orbán government’s tax cuts, families with children pay 180,000 Forints less in taxes a year. In addition, the government also created 600,000 jobs, mostly through the public work program. The tax cuts and the increase in real wages are a huge blow for the Left, she suggests, depriving them of a blunt tool with which to belabor the government – despite the fact that economic growth has been slightly slower than expected (see BudaPost May 17), Farkas concludes.