Hungary’s opposition leader Péter Magyar secured a landslide election victory, giving his centre-right Tisza party a two-thirds parliamentary majority and ending Viktor Orbán’s 16-year rule.
Following the win, Magyar pledged to restore democratic standards and re-anchor Hungary within the European mainstream after years of tension with the European Union. The scale of the victory gives his government broad authority to implement sweeping reforms.
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Magyar said his administration would prioritise strengthening the rule of law, ensuring judicial independence, protecting press freedom, and tackling corruption.
These reforms are seen as essential to unlocking billions of euros in EU funds that had been frozen due to concerns over democratic backsliding under Orbán.
He also indicated plans for constitutional changes, including possible term limits for future prime ministers, as part of efforts to prevent a return to entrenched power.
The election outcome signals a major political shift both domestically and internationally. It has been welcomed by European partners and could improve Hungary’s relations within the EU, while also easing tensions over issues such as support for Ukraine.
Financial markets reacted positively, with gains in the national currency and stock exchange, reflecting investor optimism about reforms and renewed access to EU funding.
