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42 I Central Europe bne May 2018
Hungary's populist leader Viktor Orban wins sweeping majority. Northfoto / Shutterstock.com
Hungary's ruling party retains supermajority after sweeping election victory
bne IntelliNews
Hungarian Prime Minister Viktor Orban will retain his position for the next four years after his rul- ing Fidesz party swept to a supermajori- ty for the third consecutive time on April 8, beating most estimates as turnout was near record levels at 70%.
Orban’s latest landslide victory may not be good news for the markets. Analysts foresee further conflicts between an emboldened new Orban government and the EU, which may damage Hungary economically. With a two-thirds majority Orban can amend the Constitution.
A poll by Bloomberg showed fund
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managers favouring a slim (rather than a substantial) Fidesz victory, while Vik- tor Zsiday, head of fund manager Hold Alapkezelo, described a supermajority for Orban as a “dangerous scenario” that would enable his government to crack down on “what remains of democratic institutions”. This may well trigger responses that could hurt Hungary economically, he said.
Fidesz received 48.5% of the votes on the party list (votes are cast for party lists and in single-seat constituencies), up from 43% four years ago, with nearly 2mn votes cast for the incumbent party. The win gives Orban's party 133 seats
in the 199 seat legislature, a two-thirds majority by a single vote.
The election map shows Hungary turn- ing orange, the colour of the ruling party, which dominated the landscape everywhere, especially in smaller towns and rural areas.
The results show that Fidesz managed to efficiently mobilise its base due to its vast network of activists and huge database of supporters. Contrary to the expectations of many political analysts, they managed to turn a high turnout to their advantage.