Government to raise pensions in January, says Varga

Written by BT/MTI

The budget working group has discussed next year’s pensions, pensions will be raised in January and an annual bonus equivalent to a full month’s pension will be distributed in February, Finance Minister Mihaly Varga said on Facebook on Wednesday.

Varga noted that pensions have been raised by 18.5pc last year and 6pc this year. Pensions next year could increase by around 3.2pc, equal to the expected annual inflation rate. The annual bonus equivalent to a full month’s pension will be paid for the fifth time in February, he added.

The minister said that even in wartime, the government is keeping its promise to pensioners and protecting the value of pensions.

Varga said the budget deficit will be reduced to 4.5pc of GDP this year, then fall to 3.7pc next year and 2.9pc in 2026, while the national debt ratio will improve from year to year.