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Parliamentary elections were held in Hungary on 12 April 2026 to elect all 199 members of the National Assembly. Of the 199 seats that make up the parliament, 106 are elected from single-member constituencies, and 93 are allocated to parties that secure enough votes to enter the parliament. While 100 seats are required for a simple majority government, 133 seats are required for a two-thirds supermajority – a power that allows amendments to the Constitution. A total of five parties or alliances had competed in the recent elections. According to the National Election Office (NVI), 79.6% of eligible voters – or 7.5 million people – registered their vote in the recent elections, marking the highest voter turnout since the collapse of Communism and the birth of democratic Hungary in 1989.

Fidesz party’s Viktor Orbán, who had served as the Prime Minister of Hungary for the last 16 years, has conceded defeat in the country’s parliamentary election. Péter Magyar, leader of the centre-right opposition Tisza party, secured victory by winning 138 of the 199 seats, securing a two-thirds majority in parliament. Viktor Orban’s Fidesz party won 55 seats, making it now the largest opposition party in Hungary. Until a new parliament is formed in May 2026, Viktor Orban and his Fidesz will remain as the caretaker government. With this margin of victory and a supermajority in the Parliament, Magyar will now be able to change the constitution and unravel key pillars of Orbán’s “illiberal democracy”, thereby demolishing the former prime minister’s tight control over the judiciary, state companies and the media. The 2026 Parliamentary results reflected the dissatisfaction of many Hungarians with the country’s weak economy and broken healthcare system. In 2025, unemployment was at its highest level in ten years (at 4.5%), and economic growth was just 0.4%, far behind that of Poland and Bulgaria. The election was closely watched as a referendum on Orban’s self-described brand of “illiberal democracy.” Magyar’s focus on combating a sluggish economy and ending the government’s corruption has resonated with voters. Magyar’s Tisza party’s message also focused on fighting government graft. Since 2010, Mr Orban has centralised power, favoured loyalists, and weakened the judiciary, academic institutions and independent media.

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Following his landslide Victory, Magyar reiterated his campaign promises to rebuild ties with Brussels and the North Atlantic Treaty Organization (Nato), which were badly affected during Orban’s rule, and vigorously fight the corruption that had flourished under the populist leader. Among other things, Magyar pledged to carry out reforms that could potentially unlock billions in European Union (EU) funding, which have been frozen over concerns in Brussels about Orban’s dismantling of the rule of law and repression of media freedom. As of early April 2026, the EU was withholding approximately €18bn ($21bn) worth of funds for Hungary, over concerns about its democratic backsliding under Orbán. The freezing of these funds – which is equivalent to around 10% of the country’s GDP – has further deepened Hungary’s economic crisis.

In its election manifesto published in February 2026, the Tisza party announced plans to introduce a wealth tax for the rich, adopt the euro currency and firmly anchor Hungary in the European Union and Nato. For those with wealth exceeding Ft1bn ($3.1m), the party plans to introduce an annual 1% wealth tax on the portion of wealth above that threshold. As part of its tax and spending promises, the party announced commitments to lower income tax for minimum wage earners from 15% to 9%; double the basic family allowances (that has been frozen since 2008); allow men to retire after 40 years of employment; boost old age pensions; increase salaries by 25% for state employees in the education, child protection and social care sectors; invest in elderly care facilities; and raise wages in the social sector. Other promises announced in the manifesto include strengthening trade unions and promoting equal opportunities for women and minorities. The party also plans to increase health spending and launch consultations on euro adoption, with plans to meet the Maastricht criteria by 2030, including reducing the deficit to below 3%. 

The party’s economic and energy expert Istvan Kapitany has also announced plans to expand the utility price-cut scheme; provide affordable clean energy for households and businesses; and renovate 100,000 homes annually. To achieve this, it plans to announce measures such as reducing VAT on firewood, introducing energy-efficiency subsidies, and banning large-scale employment of foreign guest workers starting in mid-2026. Kapitany has also announced a new economic development programme that would boost productivity and domestic value add and phase out Hungary’s dependence on Russian energy by 2035 – through diversification, energy efficiency investments and a major expansion of renewables. The party plans to review the Paks 2 nuclear power plant project, and double the share of renewables by 2040, with energy storage capacity expanding. Environmentally controversial investments, particularly the battery plants, will be subject to strict review, with the party announcing a plan to create a new ministry that will be dedicated to environmental protection, water management and animal welfare.

The party plans to review the 35-year road concession contract, awarded to a consortium led by Hungarian businessman Lorinc Meszaros. The infrastructure programme includes a major upgrade to the railway sector, aiming to halve the average age of rail cars and locomotives within ten years, from the current 40-50 years. Proposals announced as part of the housing sector include a plan to launch social and market-based rental housing, launch a housing cooperative initiative, and construct tens of thousands of new rental units. Healthcare proposals announced in the manifesto include increasing public health spending to 7% of GDP by 2030; cutting waiting times; upgrading regional hospitals; and granting the health minister veto power over government decisions deemed harmful to public health. The party also aims to raise life expectancy to 80 years by 2035, through prevention-focused policies. It also maintains a firm stance against illegal migration, pledging to keep the southern border fence and strengthen border protection. In its manifesto, it has also addressed the issue of demographic decline, announcing a goal to halt population loss by 2035 and return Hungary’s population to above ten million by mid-century.

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Hungary Construction Market Size, Trend �AV by Sector, Competitive Landscape and Forecast to 2029 (H2 2025)

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The unfreezing of EU funds will provide a boost to the transport infrastructure, residential, energy and utilities sectors. The unblocking of funds will help in restarting projects that were suspended in recent years due to financing gaps. Also, the Tisza party’s focus on phasing out Hungary’s dependence on Russian energy, boosting the share of renewables in the country’s total electricity mix, and providing home renovation subsidies to improve energy efficiency is also expected to provide a boost to the è��AV’s output over the coming years. Additionally, the party’s commitment to social housing and urban development, and its plan to build or fully renovate thousands of housing units, will help in improving the issues of stagnating living standards and the housing crisis.