Swedish PM resigns as right-wing parties win vote

Picture courtesy: AP/Hindustan Times

Sweden's Social Democrat prime minister, Magdalena Andersson, accepted defeat on Wednesday.

Magdalena Andersson's centre-left coalition looks set to narrowly lose to a bloc of right-wing parties, the Moderates, Sweden Democrats, Christian Democrats and Liberals had held a one-seat lead after Sunday's election but looked like getting 176 seats in the 349-seat parliament to the centre-left's 173 seats, according to the latest figures from the election authority.

Moderate Party leader Ulf Kristersson is now expected to form a government.

The final result is still to be confirmed after a recount, which is standard practice in Sweden.

Commanding only a thin majority, Kristersson faces a number of challenges.

Sweden, in the midst of a cost-of-living crisis, could be heading for recession next year.

The war in Ukraine has destabilised the Baltic region - Sweden's backyard - and uncertainty remains over whether Turkey will finally agree to Stockholm's application for NATO membership.

Measures to address climate change and long term energy policy also need to be thrashed out while holes in the welfare system exposed by the pandemic need to be plugged and a planned surge in defence spending financed.