Péter Magyar was sworn in as Hungary's new prime minister on Saturday, marking the end of 16 years of government by Viktor Orbán and what his supporters are calling a "regime change" in the central European country. Magyar's Tisza party, founded just two years ago, won a landslide victory at last month's elections, securing 141 of 199 parliamentary seats — up from zero — while Orbán's Fidesz party collapsed from 135 seats to 52. A large public celebration, billed as a "festival of freedom and democracy," was planned along the banks of the Danube in Budapest to coincide with the opening session of parliament. In a symbolic gesture, the EU flag was rehung on the parliament building's façade, having been removed by Fidesz in 2014.
The new government faces a daunting economic inheritance. Years of state contracts channelled to Fidesz-linked businesses, compounded by a pre-election spending spree, have left Hungary's budget deficit close to its full-year target. Food prices are roughly 50% higher than in 2020, inflation remains well above the EU average, and the country carries one of the bloc's largest budget deficits. The most pressing task is unlocking approximately €17–18 billion in EU funds frozen by the European Commission over rule-of-law concerns during the Orbán era. Around €10 billion of that comes from the EU's post-Covid recovery fund and must be disbursed by the end of August or be lost. A European delegation travelled to Budapest within days of the election to begin talks, though officials have made clear that funds will not be released on promises alone — concrete reforms, including anti-corruption measures and judicial independence, will be required.
Magyar has assembled a cabinet that observers have described as a "technocracy" with elements of "Fidesz lite." Several incoming ministers, including the new foreign minister Anita Orbán — no relation to Viktor — previously served in Fidesz-era governments before distancing themselves from the party. Anita Orbán, an economist and lawyer who trained in the United States and warned of Russian imperialism in a 2008 book, will also serve as deputy prime minister and represents a clear shift away from the Kremlin-friendly foreign policy of her predecessor. The new defence minister, Romulusz Ruszin-Szendi, rose to army chief of staff under the previous government but was reportedly removed in 2023 partly due to his pro-Ukraine stance. Women return to cabinet after years of near-total exclusion under Fidesz, and for the first time a minister with a disability joins the government. Magyar withdrew his initial nomination of his brother-in-law for justice minister after a swift public backlash, signalling an intent to avoid the appearance of nepotism.
On anti-corruption, Magyar has promised to establish a new office to recover misappropriated assets and to join the European Public Prosecutor's Office. Already, several Orbán-era oligarchs have begun moving assets abroad or offering to hand companies to the state. One prominent media mogul, whose outlets ran government-funded campaigns against figures including George Soros and Volodymyr Zelensky, announced he wished to surrender his business empire to the state. Police and prosecutors, who had been largely inactive against Fidesz-linked figures, are now opening multiple investigations, with sources indicating that witnesses are suddenly coming forward with evidence. Incoming ministers have been careful to frame accountability in legal rather than retributive terms: "We are talking about investigations totally in line with the rule of law," said the incoming minister for social relations and culture.
While the mood in Budapest is celebratory, analysts caution that governing will prove far harder than campaigning. Tisza united a broad coalition under a single theme — removing Orbán — but will now need to make concrete decisions on divisive questions including education, healthcare, and LGBTQ rights. Most of its parliamentary members and ministers have no prior political experience. On foreign policy, Magyar has indicated Hungary will seek a reset with the EU and a less confrontational stance on Ukraine, yet public opinion remains cautious: Hungarians broadly support unblocking a European loan to Kyiv but oppose direct bilateral military or financial aid, and a majority wishes to maintain Russian oil and gas supplies in the short term — a dependency Magyar himself has acknowledged cannot be severed quickly. "We are serving the country. We are not here to rule. We are here to serve," said an incoming minister — a statement that reflects both the high hopes attached to the transition and the considerable pressure the new government will face to deliver.