Hungary's employers and trade unions have reached a deal on minimum wages on Thursday with a 15% hike in the minimum wage to take effect from December 2023, Minister for Economic Development Marton Nagy said in a statement.

Nagy said the so called guaranteed wage minimum would increase by 10% under the agreement, and the government wanted to see real wages increase by 4-5% next year as inflation comes down. (Reporting by Krisztina Than)