Under the agreement, the minimum wage will rise by an annual average 12% over the next three years, increasing 9% to HUF 290,800 in 2025, 13% to 328,600 in 2026 and 14% to 374,600 in 2027.
The minimum wage for skilled laborers will rise by 7% to 348,800 in 2025. The sides aim to boost the minimum wage to 50% of the average wage by the start of 2027.
They commit to boosting employee remuneration based on economic growth and improvements in business efficiency and productivity.
Speaking after the signing, Prime Minister Viktor Orbán said the agreement was based on the assumption that peace would be achieved in 2025 and economic development would advance accordingly. He added that GDP growth over 3% was “realistic” in 2025.
Acknowledging that the agreement was based on an optimistic scenario, he said that an override clause had been included allowing modifications in case of contingencies. He added that the government trusted that activating the clause would not be necessary.
László Perlusz, the chief secretary of business association Vosz, said the agreement was “extraordinarily ambitious”.
Melinda Mészáros, the head of unions association Liga, noted that the agreement allowed for corrections if macroeconomic assumptions diverged from GDP or wage developments.