Péter Magyar is being sworn in as Hungary’s new prime minister following a landslide election victory that ended 16 years of rule by Viktor Orbán and his ruling Fidesz party.
The opening session of parliament is taking place in Budapest as tens of thousands gather outside for what supporters have described as a “celebration of freedom and democracy.” Magyar urged Hungarians to step through the “gateway of regime change” after his Tisza Party secured 141 seats in the 199-member parliament, an extraordinary rise for a party founded just two years ago.
Fidesz suffered a dramatic collapse, falling from 135 seats to just 52. Orbán and several senior party figures have reportedly declined to take their seats in parliament, fueling uncertainty about the future of the once-dominant political movement.
The incoming government says it faces a severe economic crisis after years of heavy spending and allegations that state contracts and public funds were directed toward business allies linked to Fidesz. Officials say the budget deficit has already neared the government’s annual target.
Incoming Minister for Social Relations and Culture, Zoltán Tarr, told reporters that the new administration’s immediate priority is to establish a functioning government “on the ruins of the previous one.”
Magyar’s government has promised sweeping reforms and investigations into alleged corruption during the Orbán era. Officials say a new office dedicated to recovering “stolen assets” will be established, while prosecutors and police have reportedly intensified investigations into suspected financial crimes connected to former government-linked figures.
One prominent businessman under scrutiny is Gyula Balásy, whose media companies received millions in government contracts over the past decade. Authorities have reportedly frozen some company accounts amid ongoing investigations.
The transition has also highlighted efforts by the incoming administration to present itself as ethically different from its predecessor. Magyar recently returned a large political donation from businessman György Wáberer, while justice minister nominee Márton Melléthei-Barna withdrew from consideration following criticism over family ties to the prime minister.
The new government now faces major international challenges, including securing the release of €17 billion in frozen European Union funds withheld during Orbán’s administration. Hungary must also navigate tensions over the EU migrant pact and ongoing disputes with the European Commission and the European Court of Justice regarding migration policies.
Despite promising closer cooperation with the European Union, Magyar has maintained that Hungary will continue relying on Russian oil and gas supplies in the short term and remains cautious about Ukraine’s ambitions to join the EU.