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KSH: Annual per capita income falls HUF 80,000 since 2006

According to the “Hungary prosperity indicator system” published by the Central Statistical Office (KSH) at the end of December, per capita annual income in Hungary has decreased HUF 80,000 since 2006.

The report shows a substantial increase in the disparity of income over the past eight years. In 2009 20 percent of the population enjoyed 40.4 percent of the income. By 2013 this latter figure had increased to 43.3 percent.

In 2014 adults possessing higher education earned on average 2.2 times more than the average income of those who only completed high school.

76 percent of Hungarian households responded that they could not afford an extraordinary expense of HUF 66,000, placing Hungary last behind Latvia (69.5%), Bulgaria (64.1%), Croatia (65.1%) and Romania (52.1%). By contrast only 11% of Norwegians responded that they could not afford such expenditure. The EU average was 39.7%.

Households with children feel less secure about the future than average, especially in the case of single-parent households.

On a scale of 0 to 10 with 0 being absolutely not satisfied and 10 being completely satisfied, Hungarians over the age of 16 rated their satisfaction at 5.21 on average. 18.7 percent of adults rated their satisfaction at 8 or higher, and 14.8% at 2 or lower.

Half of households surveyed responded that their material situation would not change over the next year, whereas 40% expected the situation to get worse, an improvement over 2013 (55%) and 2012 (72%). Only 10% of individuals surveyed said they thought the situation would improve.  Future expectations correlate highly with current material conditions. Those in the bottom fifth in terms of income made up 55% of respondents who said their material condition would worsen, whereas those in the top fifth made up 70% of those who feel their material conditions would either improve or remain unchanged.

17 percent of young adults believed their material condition would improve. 45 percent of pensioners believed their material condition would worsen. The majority of those over 75 felt their material condition would not change.

Reference:

http://www.napi.hu/magyar_gazdasag/elkepeszto_magyar_jovedelmi_adatok_jottek_igy_lettunk_sereghajtok.591199.html

Éva Nagy :