Stockholm, Nov 11 (IANS): Swedish Prime Minister Stefan Lofven has tendered his resignation and asked the Speaker of Parliament Andreas Norlen to commence the formal process of finding his successor.

Lofven, who will lead a caretaker government until a new Prime Minister is installed, had previously insisted he would lead the Social Democrats over the 2022 elections, reports Xinhua news agency.

However, in August he unexpectedly announced his decision to resign.

The surprising announcement was made following a turbulent year.

In July, Lofven was re-elected as Prime Minister shortly after becoming the first Swedish premier to be ousted in a no-confidence vote in June.

He has been chairman of the Social Democrats since 2010 and Prime Minister since 2014.

On November 4, he stepped down as party leader and Finance Minister Magdalena Andersson was elected to lead the Social Democrats.

Most political analysts believe the speaker will now propose Andersson as the next Prime Minister, but due to the parliamentary situation, she would need support of the Left and Centre parties.

Should a majority not vote against her, Andersson will become Sweden's first female Prime Minister.