The new Hungarian government has not even been in office for a month, yet it has already reached one of its key campaign promises: on Friday, a political agreement was reached on unlocking EU funds that had previously been frozen – largely over rule-of-law concerns.
After 16 years of Fidesz rule, Hungary’s parliament on Tuesday approved the new government led by Prime Minister Péter Magyar.
Moscow must also rethink its regional position after Fidesz’s defeat. Russia has lost its most stable ally in the region, while still needing partner(s) within the EU.
Tisza’s landslide victory on April 12 sent the forint to a four-year high and Budapest stocks to a record, as investors priced in the end of the Orbán-era risk premium and the prospect of unlocking frozen EU funds.
On 12 April 2026, Hungarian voters ended sixteen years of Viktor Orbán's rule in a landslide, handing Péter Magyar's Tisza party a two-thirds supermajority on the highest turnout since the fall of communism.