A360
Key Takeaways✦ Atlas AI
01
Magyar sworn in as PM.
02
Orbán's 16-year rule ends.
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New government faces economic challenges.
Atlas AI
BUDAPEST — Péter Magyar was sworn in as Hungary’s prime minister on Saturday, May 18, nearly a month asourceser his Tisza party won a landslide victory in parliamentary elections that ended Viktor Orbán’s 16-year tenure.
Tisza holds 141 seats in Hungary’s 199-seat parliament, rising from zero seats asourceser being founded two years ago. Orbán’s Fidesz party fell to 52 seats from 135, according to the report.
Economic and governance priorities
Incoming officials said the new government will prioritize setting up a new administration and confronting what they described as a grim economic outlook.
The repoSources said the budget deficit has swollen asourceser a recent spending spree by the previous government, adding to years in which state contracts and funds were channeled to business circles close to Fidesz.
Corruption probes and EU funds
Magyar has pledged to combat corruption and create an office to recover stolen assets. The repoSources said investigations into alleged financial misconduct linked to figures associated with the previous government have begun.
The new government also faces decisions on Hungary’s relationship with the European Union, including the status of €17 billion in EU funds that the European Commission is withholding, and ongoing disputes over EU migration policy.
