Anders Borg, the outgoing Swedish finance minister, delivered a parting shot for incoming politicians, telling CNBC that the country was set for a weak government that would struggle to push through any budget proposals.
Borg, who served eight years in government over the course of two terms, announced that he was to leave politics after elections held on Sunday showed his center-right Moderate Party had been ousted by Sweden's center-left Social Democrats. The far-right, anti-immigration Sweden Democrats became the country's third largest party.
"I've decided to leave politics....to my mind it wasn't an option to become the party leader," Borg told CNBC on Tuesday.
Stefan Lofven emerged as the victor in the general election with the left-leaning politician promising to curb tax cuts and reverse the reduction in welfare spending. However, the party fell short of a parliamentary majority and the wrangling to form a coalition with the Greens and the Left Party has already begun. Lofven has told the Swedish that he would not be prepared to work with the far right party, called the Sweden Democrats, who polled 13 percent on Sunday.