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HUNGARY: Average Wages Rise 13.5% Y/Y in April, Slightly Below Estimates

HUNGARY
  • Hungary’s average gross wages rose 13.5% y/y (Est: +13.7%) in April versus +13.9% in March, according to the Central Statistical Office, slightly below estimates and marking the lowest for the series since February 2023. Month-on-month, wages fell 2.1% compared to +9.2% in March.
  • Hungary will pass on a penalty imposed by the European Court of Justice due to its asylum policy to “speculators” who profit from migration and from the war in Ukraine, Prime Minister Viktor Orban said on state radio this morning. Orban said his officials are working on details of measures in coming days.
  • As a reminder, last week the European Court of Justice imposed a EUR 200m penalty plus an extra EUR 1m daily fine on the government’s non-compliance with the court’s earlier judgment on the protection of asylum seekers.
  • Prime Minister Orban will meet German Chancellor Olaf Scholz in Berlin today. Looking ahead, economic sentiment, current account, unemployment rate and PPI data are all scheduled for release next week.
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungary
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungary

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