AS OF DECEMBER 1, 2023 THE AMOUNTS OF THE MINIMUM WAGE AND THE GUARANTEED MINIMUM WAGE CHANGE

On November 20, 2023, Government Decree No. 508/2023 (XI. 20.) on establishing the mandatory minimum wage and the guaranteed minimum wage (hereinafter “Government Decree") was published in the Hungarian Gazette, in which the Hungarian Government determined the adjusted amounts of the minimum wage and the guaranteed minimum wage effective as of December 1, 2023.

According to the Government Decree, as of the effective date, the mandatory minimum wage will be HUF 266 800 and the guaranteed minimum wage HUF 326 000, respectively.

The revised adjusted minimum wage and guaranteed minimum wage amounts will be first applied in December 2023. In addition to the calculation of wages, these adjustments affect certain provisions of Act XCVIII of 2006 on the General Rules for the Safe and Economical Supply of Medicines and Medical Devices and the Distribution of Medicines (hereinafter: “Drug Economy Act”).

In Section 3(8) of the Drug Economy Act stipulating the amounts of minor gifts will increase from HUF 11 600 to HUF 13 340 as of December 1, 2023, and in Section 14(2) the hospitality limits of pharmaceutical companies organized own events will increase from HUF 11 600 to HUF 13 340 per day and per person as of December 1, 2023.