• Péter Magyar has been sworn in as the new Prime Minister of Hungary, ending Viktor Orbán's 16-year rule.
• Magyar's Tisza party won a historic parliamentary majority with 141 out of 199 seats.
• The new government plans to restore democratic institutions and address alleged corruption.
• Magyar aims to improve relations with the EU and unlock frozen funds essential for Hungary's economy.
• Celebrations in Budapest marked the inauguration, drawing thousands of supporters to Kossuth Square.

Péter Magyar has officially assumed the role of Prime Minister in Hungary, marking a significant political shift as he takes over from Viktor Orbán, who has held power for 16 years. Magyar's Tisza party achieved a remarkable victory, securing 141 seats in the 199-seat parliament, which is the largest parliamentary majority recorded in Hungary's post-Communist history, according to BBC and Al Jazeera.

During his oath-taking ceremony, Magyar emphasized that he would not rule but serve his homeland, responding to the demanding call for change from voters. He stated, "I stand here because millions of Hungarians decided that they want change," highlighting the weighty moral obligation he feels from this trust, according to SCMP and CBS News.

Magyar's administration is poised to roll back many of Orbán's policies, particularly those perceived as authoritarian. He intends to restore democratic institutions and strengthen governmental checks and balances that were undermined during the prior administration. Additionally, plans are in motion to tackle corruption, including establishing a National Asset Recovery and Protection Office focusing on recovering misappropriated public funds, as reported by Al Jazeera and CBS News.

One of the key challenges that Magyar's government faces is unlocking approximately €17 billion in European Union funds, which have been frozen due to concerns over rule-of-law violations during Orbán's tenure. Relations with the EU, which were strained under the previous administration, are a priority, as Magyar seeks to restore Hungary's standing among Western democracies and address economic stagnation, according to BBC and SCMP.

The inauguration was a public affair, with thousands of supporters gathering in Kossuth Square to celebrate the transition of power. Many waved Hungarian and EU flags, signaling a desire for a new beginning in Hungary's political landscape. The enthusiastic crowd welcomed Magyar, who plans to pursue policies that prioritize EU cooperation and address longstanding issues regarding Russian influence on Hungary, as reported by CBS News.