New Swedish PM announces resignation

Sweden's first female prime minister has announced her resignation hours after being elected to the post on Wednesday. Magdalena Andersson's move followed her coalition's collapse after parliament rejected its budget bill.

The 54-year-old new leader of the center-left governing Social Democratic party previously served as finance minister.

The Social Democrats had formed a coalition with the Green Party and gained support from center-right and leftist parties.

Parliament's rejection of the government's budget plan prompted the Green Party to leave the coalition.

Andersson's predecessor, Stefan Lofven, had resigned in the wake of political turmoil over housing policy reforms.

The speaker of the Swedish parliament is expected to address the matter on Thursday.