Centre-right leader Peter Magyar has been sworn in as Hungary’s new prime minister, ending Viktor Orban’s 16-year rule after a landslide election victory and promising to reorient the country toward its Western allies.
Peter Magyar was sworn in as Hungary’s new prime minister on Saturday, formally ending the 16-year rule of Viktor Orban following his Tisza party’s landslide victory on April 12.
Magyar, 45, who secured a constitutional majority, told parliament: “Hungarian people have given us a mandate to put an end to decades of drifting. They have given us a mandate to open a new chapter in Hungary’s history. Not only to change the government, but to change the system as well.”
Financial markets welcomed the transition, with Hungary’s forint hitting four-year highs against the euro while bond yields fell.
Magyar inherits significant economic challenges, including a budget deficit already at 71% of its full-year target by April and suspended EU funding he aims to unlock by May 25 through an anti-corruption drive.
He also pledged to restore Hungary’s Western orientation after years of Orban’s perceived drift toward Russia.
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