Peter Magyar sworn in as PM, ending Orbán's 16-year rule

Centre-right leader Peter Magyar was sworn in as Hungary's prime minister on Saturday, May 9, 2026, after defeating nationalist Viktor Orban in an April 12 election landslide that ended 16 years of autocratic rule. Magyar's Tisza party secured a constitutional majority in parliament, winning 140 votes in favor to 54 against among the 199 deputies, giving him the mandate to dismantle Orban's system and restore Hungary's Western orientation. He inherits a nation facing severe economic challenges, including a budget deficit that had already reached 71 percent of the full-year target by April and an economy that only emerged from stagnation in the first quarter, with potential headwinds from surging energy costs linked to the Middle East conflict. European Union leaders Ursula von der Leyen and Antonio Costa congratulated Magyar in messages marking Europe Day, expressing willingness to work closely with the new Hungarian leader. Von der Leyen described the inauguration as a "powerful signal of hope and renewal," while Costa emphasized the "happy coincidence" of the ceremony aligning with the pan-European celebration. As part of his first actions, Magyar ordered the EU flag raised again in parliament, reversing a symbol of Orban's years of confrontation with Brussels. He has pledged to secure billions in suspended EU funding by May 25, launch a sweeping anti-corruption drive, and suspend state media news broadcasts that he said had helped maintain his predecessor's grip on power. Magyar inherits a country with strained relations with key Western allies after Orban's years of alignment with Kremlin positions and opposition to EU support for Ukraine. While initial investor reaction has been positive, with the forint reaching four-year highs against the euro and bond yields falling, analysts warn any honeymoon may be brief given the immediate fiscal pressures. The new prime minister has explicitly framed his victory as a mandate to "put an end to decades of drifting" and "open a new chapter in Hungary's history," promising not merely to change the government but to transform the system itself.