What Magyar's election win means for Hungary's economy and Europe
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Issued on: 17/04/2026 - 09:47
11:36 min Share Play (11:36 min) From the show
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1 min
Hungary is preparing for a new era, after the centre-right Tisza party of Peter Magyar won a landslide victory over longtime nationalist Prime Minister Viktor Orban. Magyar says he'll seek to repair Hungary's confrontational relationship with the European Union, something that could unlock much-needed EU funding for Ukraine and for Hungary itself. Many voters said the stagnating economy was a major factor in their decision to turn against 16 years of Orban's rule.
Speaking to FRANCE 24, Balazs Szent-Ivanyi, reader in politics at Aston University's Centre for Europe, says the incoming Hungarian government can't usher in change overnight.
"The Tisza party has a very long manifesto, which is fairly rare in Hungarian politics – Fidesz, for example, had no manifesto at all. We see quite a lot of promises, many of them actually relate to increasing spending, which seems difficult to enact at the moment. The budget deficit for this year is forecast around 5-5.5 percent, and that doesn't necessarily take into account the extra spending that the war in Iran is creating."
Szent-Ivanyi says that in the medium-term, Magyar could launch an effort to join the eurozone. Integrating into the shared currency bloc "would bring a lot of certainty and increased credibility for the government's economic policies (...) The problem is that Hungary currently doesn't fulfil any of the Maastricht criteria required for introducing the euro. So there's quite a lot of work to do there."
By:
Kate MOODY
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