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The Ministry of Innovation and Technology (ITM) will put together a draft agreement which could see the minimum wage increased by 4 percent from the start of February, two members of VKF, a forum of employers, unions and the government responsible for wage talks said on Wednesday.

Melinda Mészáros, who chairs unions association Liga, and Ferenc Rolek, the deputy head of employers’ association MGYOSZ both confirmed that members of VKF could get the draft on Thursday or Friday and if all three union associations and all three employer’ associations assent, the draft could be signed on Monday.

Melinda Mészáros said the monthly minimum wage could rise to gross 167,400 forints (EUR 470) and the gross monthly minimum wage for skilled labourers to 219,000 forints.

The draft agreement will also stipulate that when the social contribution tax on employers decreases during the year, by any amount, the minimum wage and the minimum wage of skilled workers will both increase by a further 1 percentage point.

featured image illustration via Tibor Rosta/MTI