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EU officials are in Budapest for crucial talks with Hungary's government ahead of the new government taking office in early May. The visit aims to reshape the EU's strained relationship with Hungary and address key issues like Hungary's veto on a €90bn loan to Ukraine and unlocking €17bn in frozen EU funds. The talks come after Viktor Orbán's Fidesz party suffered a significant defeat in recent elections, ending his 16-year rule. Orbán admitted responsibility for the loss and suggested he may remain leader of his party. The EU is seeking to resolve outstanding issues before Péter Magyar's new government assumes power.

Peter Magyar, Hungary's incoming Prime Minister after his Tisza party's election victory, plans significant changes, potentially forming a government by mid-May. Magyar intends to overhaul state media, starting with suspending public news broadcasts, citing biased coverage under the previous Orban government. He aims to pass new media laws to ensure truthful public service broadcasting. Magyar has also called for the resignation of President Tamas Sulyok, deeming him unfit to represent the nation. In addition to these political moves, Magyar faces the challenge of unlocking over 16 billion euros in EU COVID-19 recovery funds, which are currently blocked due to rule-of-law concerns.

Following a significant defeat, Viktor Orbán acknowledged the end of an era in Hungarian politics and took responsibility for the loss. Despite holding a "super-majority" previously, his party, Fidesz, now faces a drastically reduced presence in Parliament. Orbán expressed feeling "pain and emptiness" and admitted campaign mistakes, including delays in the Paks 2 nuclear power station project. He plans to remain leader of Fidesz if re-elected but called for a "complete renewal" of the party, suggesting replacing many deputies unsuited for opposition. The party is scheduled to hold a leadership meeting on April 28th, followed by a party congress in June, where Orbán's future and the party's direction will be decided.

Hungary's prime minister-elect, Peter Magyar, has expressed a desire for closer ties with China, referring to it as a major global power. Magyar stated his openness to discussions with Chinese leaders and extended an invitation for them to visit Budapest. He also signaled a willingness to welcome Chinese investment into Hungary. However, Magyar stipulated that all foreign companies, including Chinese firms, must adhere to Hungarian and European Union regulations concerning environmental protection, health, and workplace safety. He emphasized that investments should demonstrably benefit the Hungarian economy. The comments were made at a press conference on Monday in response to a question from the South China Morning Post.

Following recent elections, Tisza party leader Magyar stated his government will strive for a "free, European" Hungary, signaling a potential shift from the Orbán era. In a Facebook post, Magyar thanked voters and promised a "well-functioning and compassionate" administration. According to Stanley Wade Shelton, a UGAF professor, the Hungarian election highlights the overestimation of authoritarianism and the underestimation of democracy's strength. Shelton also contrasts Orbán's acceptance of the election results with Donald Trump's refusal to concede defeat in 2020. The election outcome and Magyar's statement suggest a possible change in Hungary's political direction.