Officials have said that Victor Orban's conservative opposition party defeated the socialist MSZP government in first-round parliamentary elections in Hungary on Sunday.

The New York Times has reported that with 99 percent of votes counted, MSZP conceded defeat to Orban's Fidesz party, which had garnered nearly 53 percent of votes to 19 percent for the Socialists. The far-right Jobbik party, which has attacked "Gypsy crime" and Jews, captured 16.7 percent of the vote.

In the 386-member parliament, Fidesz won 206 seats, the Socialists 28 and Jobbik 26.

Orban said, "Hungarians voted on Hungary and Hungary's future. Today Hungary's citizens have defeated hopelessness."

The economic downturn and accompanying high unemployment led many voters to back Orban's party, which promised tax cuts to stimulate the economy.

The results brought a "fundamental shift" to Hungarian politics, said President Laszlo Solyom.

He further said, "It is unprecedented ... for a winning party to secure such a clear and broad-based mandate that we can see now from the numbers."

"If results do not change materially, then one thing is clear: The Hungarian Socialist party has lost the opportunity to govern" but wants to "be the strongest opposition party," Socialist Party Chairwoman Ildiko Lendvai conceded. (With Inputs from Agencies)