Péter Magyar is set to be sworn in as Hungary’s new prime minister after leading his Tisza party to a landslide election victory that ended Viktor Orbán’s 16-year rule. Tisza secured 141 seats in the 199-member parliament despite being founded only two years ago, while Orbán’s Fidesz party collapsed from 135 seats to just 52.

Large celebrations are planned in Budapest as Magyar promises a “change of system” alongside a new government. His incoming administration says its priority is rebuilding the economy and restoring public trust after years of corruption allegations linked to the previous government. Several investigations into financial misconduct and state contracts connected to former Fidesz allies are already underway.

The new government also faces major challenges, including securing €17 billion in frozen European Union funds, addressing Hungary’s growing budget deficit, and handling sensitive issues such as migration and Ukraine’s EU membership ambitions. While Magyar has pledged reforms and stronger ties with the EU, his government says Hungary will still rely on Russian energy supplies in the short term.

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