Hungary's new PM to be sworn in during 'regime change' party

"The main priority is to set up the government... on the ruins of the previous one," Zoltán Tarr, incoming Minister for Social Relations and Culture, told the BBC."We are ready to face a very grim economic situation. But at the moment, we just don't know the severity."A spending spree initiated by the Orbán government in the past eight months came on top of years in which state contracts and funds were channelled to business circles close to Fidesz. The budget deficit has already swollen close to the planned target for the whole year.AFP via Getty ImagesMagyar is being sworn in at the Hungarian parliament, where preparations took place this weekThe incoming government is at pains to show that it is morally stronger than Fidesz. One prominent businessman, György Wáberer, who switched from Fidesz to Tisza a week before the election, told a journalist he had donated £242,000 (€280,000, $331,000) to Tisza. Magyar promptly returned the money to him. "What has changed is that people are now coming forward. So a lot more evidence is suddenly available," the source added.One target of police investigations is the media empire of Gyula Balásy, which won millions in government contracts over the past decade, and ran Fidesz campaigns hostile to migrants, as well as "enemies", who ranged from billionaire businessman and philanthropist George Soros, to Ukrainian leader Volodymyr Zelensky and Magyar himself.In a tearful interview last week, Balásy said he wanted to hand over his companies and investments to the state, though he denied any wrongdoing.The accounts of some of his companies have been frozen.Another target of investigation is Hungary's National Cultural Fund, and within it an Urban Civil Fund - with a budget of £57.2m (€64.9m, $76.7m). Allegations that it may have channelled money to Fidesz candidates are also being investigated.NurPhoto via Getty ImagesThe parties that began on 12 April on the bank of the River Danube are set to continue on SaturdayThe biggest challenge facing the new Magyar government is the urgent need to release €17bn in various EU funds, withheld by the European Commission from the Orbán government. Last week, Commission sources in Brussels suggested that some of the Hungarian money may be lost.