At a congress held this Saturday in Nagykanizsa, Peter Magyar, leader of the opposition Tisza party, presented the outlines of an ambitious economic plan dubbed the "Hungarian New Deal." This initiative, which relies on massive public investment and predictable economic governance, aims to revive Hungary's stagnant economy. Magyar specified that this program would be implemented if his party wins the parliamentary elections scheduled for next year.
Positioned on the center-right, the Tisza party, a relatively new member of the Hungarian political scene, is now considered the main opposition force to Prime Minister Viktor Orban. After fifteen years in power, the nationalist leader faces increasing difficulties revitalizing an economy plagued by persistent inflation, a weakened currency, and an uncertain investment climate.
Peter Magyar promised a "serious and predictable" economic policy that he said would restore investor confidence and promote growth. He stressed the need to restore the credibility of public institutions and clean up state finances, while supporting struggling households and businesses.
This speech comes amid growing discontent among voters, fueled by the economic slowdown, rising living costs, and ongoing tensions with the European Union. The Orban government, often criticized for its authoritarian governance and clashes with Brussels over the rule of law, is seeing its popularity decline in the polls.
The Tisza party appears to be benefiting from this momentum. The latest opinion polls give it a solid lead over Viktor Orban's Fidesz, although the outcome of the election remains uncertain in a polarized political landscape. Magyar, a lawyer by training and a rising figure in Hungarian politics, intends to embody an alternative that is both moderate and modernizing.
In his speech, he also stressed the importance of restoring relations with Hungary's Western partners and strengthening European integration, marking a break with Orban's controversial diplomacy, including his rapprochement with Moscow and Beijing.
The promise of a "Hungarian New Deal" aims to rally an electorate weary of economic stagnation and political tensions. It remains to be seen whether this momentum can translate into real change at the top of the state in the 2026 elections.
