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Norway's ruling Labour party wins re-election

Norway's Labour Party minority government will narrowly win its re-election Monday, according to projections from local broadcasters. The vote was dominated by concern over the rising cost of living and wars in Ukraine, Gaza and Gaza.

If the official results confirm early readings, then 65-year-old Prime Minister Jonas Gahr Stoere would remain at power as part of a minority coalition that would heavily depend on smaller parties for major legislation, such as fiscal budgets.

In order to gain their support, he will likely have to face difficult discussions about issues like tax hikes on the wealthy, oil exploration in the future, and divestments from Israeli companies by Norway's sovereign wealth fund of $2 trillion.

The broadcasters NRK, TV2 and the daily VG projected that Stoere's Labour bloc and four smaller parties would win 87 seats. This is more than the required 85 for a majority.

The right-wing parties led by Progress, a populist anti-immigration party, and Erna Solberg's Conservatives, a 64-year-old former prime minister, are on course to win 82 seats.

Concerns about the turmoil in Ukraine, and an aggressive Russia that shares a border in the Arctic with Norway, have given the left a boost in recent months, after former NATO Secretary General Jens Stoltenberg joined Stoere’s cabinet.

Unlike some of their counterparts in Europe, none of the right-wing political parties expected to win seats has sought the support of U.S. president Donald Trump or his movements.

(source: Reuters)