Hungary's new PM to be sworn in after landslide Tisza win; regime-change celebrations planned

The incoming government says it faces a grim economic situation, with the budget deficit already swollen close to the year’s target as it shifts from the prior administration’s spending.

Tens of thousands of people are expected to participate in a celebration of freedom and democracy outside Parliament in Budapest along the Danube.

The new government faces urgent EU funding needs, including releasing about €17 billion; EU sources warn some funds may be lost. Hungary faces a €1 million daily fine for non-compliance with ECJ rulings on migrants, and the EU migrant pact is due to take full force on June 12.

Incoming Tisza ministers announce there will be no revenge against the outgoing government; a new office to recover stolen assets will be established to pursue financial crimes.

Orbán and other key Fidesz figures decide not to take their seats in parliament; their political future remains uncertain.

Péter Magyar is sworn in as Hungary's prime minister in parliament; he states that he will serve his country rather than rule over it.

Márton Melléthei-Barna withdraws his candidacy for the post of justice minister to avoid casting a shadow on the transition.

Gyula Balásy gives a tearful interview saying he would hand over his companies to the state, with some company accounts frozen amid investigations.

Tisza secures 141 of 199 seats in the new parliament, while Fidesz falls to 52 seats, ending 16 years of rule by Viktor Orbán.

György Wáberer switches from Fidesz to Tisza a week before the election and donates £242,000 (€280,000, $331,000) to the Tisza party.

The EU migrant pact comes into full force; Hungary faces fines of €1 million per day for non-compliance with ECJ rulings over migrants.

The budget deficit has swollen close to the year's planned target amid the transition and prior spending.

Police investigations target the media empire of Gyula Balásy and the National Cultural Fund/Urban Civil Fund; some company accounts have been frozen.

Incoming Tisza government announces plans to establish an office to recover stolen assets.

Péter Magyar is set to be sworn in as Hungary's new prime minister; a large celebration is planned in front of parliament; attendance by Viktor Orbán at the opening session is uncertain.

Márton Melléthei-Barna withdraws his candidacy for justice minister to ensure no shadow is cast on the transition.

The new government faces urgent work to release around €17 billion in EU funds; Brussels sources warn some funds may already be at risk.

Young people danced through the night in celebrations following the Tisza victory.

Prominent businessman György Wáberer donates £242,000 to Tisza; he had switched from Fidesz to Tisza a week before the election.

Péter Magyar-led Tisza party wins a landslide, taking 141 of 199 seats and ending Viktor Orbán's 16-year rule.

The Tisza party is founded, two years before the 2026 elections.