Péter Magyar ends Orbán's 16-year rule in Hungary's elections

Péter Magyar and his Tisza party achieved a significant victory in Hungary's recent elections, securing 52% of the vote and ending Viktor Orbán's 16 years of continuous rule. This result translates into 140 seats in the 199-seat National Assembly, while Orbán's Fidesz party has seen its representation plummet from 135 to 53 seats. The final count will be confirmed on Saturday, including recounts in closely contested constituencies and votes cast abroad.

Magyar has swiftly engaged with President Tamás Sulyok to expedite the formation of the new parliament, aiming for a session to begin the week of May 4. He has also pledged to pass laws that would limit the number of terms a prime minister can serve to two, potentially barring Orbán, who has served five terms, from returning to power. Orbán acknowledged his defeat, stating, "This is the end of an era," and took personal responsibility for the loss, citing the failure to complete the Paks 2 nuclear power station as a key mistake.

The dynamics within Fidesz are shifting, with calls for renewal and a leadership election expected. Orbán's allies, including Transport Minister János Lázár and Foreign Minister Péter Szijjártó, have not reinvigorated the party's image, which has been marred by a lack of appeal to younger voters. The mood within Fidesz is one of fear and recrimination as the party grapples with its diminished status.

Péter Magyar's administration is poised to address corruption and restore checks and balances eroded under Fidesz. He has committed to joining the European Public Prosecutor's Office to combat corruption and has initiated discussions with MOL, Hungary's energy giant, to restore oil supplies through the Druzhba pipeline. The incoming government is also under pressure to prevent the outflow of resources by businessmen linked to the previous administration.

What to watch: The upcoming parliamentary session beginning May 4 will be crucial for Magyar's government to implement its agenda and solidify its power.