Now that he has ousted Viktor Orbán, incoming Hungarian Prime Minister Péter Magyar inherits an economy burdened by a legacy of centralized mismanagement and systemic corruption. To address it, he will need a focused and pragmatic economic program.
BUDAPEST—Péter Magyar’s landslide victory over Viktor Orbán in Hungary is nothing short of extraordinary. Two years ago, Magyar’s political party, Tisza, did not even register in the public’s mind. Now it has secured a constitutional majority that may well allow it to uproot the entrenched system of “illiberal democracy” that Orbán built over the past 16 years.