World

Swedish PM cancels planned early elections next year as budget deal reached with opposition

  • Sweden's Prime Minister and Social Democratic Party leader Stefan Löfven, left, and Moderate Party leader-elect Anna Kinberg Batra speak during a press conference at the Swedish Parliament in Stockholm, Sweden, Saturday, Dec. 27, 2014. During the presser the parties announced that a 'December agreement' on how to rule with a minority government in the parliament, has canceled the plans to run a snap election in March 2015.  (AP Photo / Henrik Montgomery / TT)  SWEDEN OUT

    Sweden's Prime Minister and Social Democratic Party leader Stefan Löfven, left, and Moderate Party leader-elect Anna Kinberg Batra speak during a press conference at the Swedish Parliament in Stockholm, Sweden, Saturday, Dec. 27, 2014. During the presser the parties announced that a 'December agreement' on how to rule with a minority government in the parliament, has canceled the plans to run a snap election in March 2015. (AP Photo / Henrik Montgomery / TT) SWEDEN OUT  (The Associated Press)

  • Sweden's Prime Minister and Social Democratic Party  leader Stefan Löfven, left, looks over the shoulder of Moderate Party leader-elect Anna Kinberg Batra speak during a press conference at the Swedish Parliament in Stockholm, Sweden, Saturday, Dec. 27, 2014. During the presser the parties announced that a 'December agreement' on how to rule with a minority government in the parliament, has canceled the plans to run a snap election in March 2015.  (AP Photo / Maja Suslin / TT)  SWEDEN OUT

    Sweden's Prime Minister and Social Democratic Party leader Stefan Löfven, left, looks over the shoulder of Moderate Party leader-elect Anna Kinberg Batra speak during a press conference at the Swedish Parliament in Stockholm, Sweden, Saturday, Dec. 27, 2014. During the presser the parties announced that a 'December agreement' on how to rule with a minority government in the parliament, has canceled the plans to run a snap election in March 2015. (AP Photo / Maja Suslin / TT) SWEDEN OUT  (The Associated Press)

  • Swedish Prime Minister and Social Democratic Party  leader Stefan Löfven answers questions after a press conference at the Swedish Parliament in Stockholm, Sweden, December 27, 2014. During the presser it was announced that a 'December agreement' on how to rule with a minority government in the parliament, has canceled the plans to run a snap election in March 2015.  (AP Photo / Henrik Montgomery / TT)   SWEDEN OUT

    Swedish Prime Minister and Social Democratic Party leader Stefan Löfven answers questions after a press conference at the Swedish Parliament in Stockholm, Sweden, December 27, 2014. During the presser it was announced that a 'December agreement' on how to rule with a minority government in the parliament, has canceled the plans to run a snap election in March 2015. (AP Photo / Henrik Montgomery / TT) SWEDEN OUT  (The Associated Press)

Sweden's prime minister says there will be no early elections next year as the left-leaning government has reached an agreement with opposition parties on a budget proposal.

Prime Minister Stefan Lofven said during a press conference in Stockholm on Saturday that the deal allows his minority government to continue ruling and arranging new election is not "topical anymore."

Lofven called snap elections earlier this month to be held on March 22 as the far-right Sweden Democrats party sided with the center-right opposition to vote against the budget.

The current government coalition took office in October.