ISTANBUL

Christopher Luxon on Monday was formally sworn in as New Zealand's 42nd prime minister.

The National Party leader is leading a three-party coalition with the New Zealand First party and ACT New Zealand party.

"It is an honor, a privilege and an enormous responsibility," Luxon said after taking his oath before Governor-General Dame Cindy Kiro.

Luxon will lead a government comprising of a cabinet of 20 ministers, eight ministers outside the cabinet, and two parliamentary under-secretaries.

Winston Peters of the New Zealand First party will serve as deputy prime minister, as well as foreign minister for half of the parliamentary term until May 2025.

The National Party won 48 out of 122 seats in general elections in October but it needed the support of both ACT New Zealand, with 11 seats, and New Zealand First, with eight seats, to form a government.

The New Zealand Labour Party, led by outgoing Prime Minister Chris Hipkins won 34 seats, the Green Party 15 seats, and Te Pati Maori got six seats.

After weeks of delay, the three parties announced an agreement to form new government last Friday. The delay had led to an extension of the caretaker Hipkins government beyond its mandate, which had ended on Nov. 11.

Hipkins resigned at 9.30 a.m. (2030GMT Sunday).

"New Zealand has been through some tough times but we are seeing the economy turning, wages growing, and climate emissions reducing. I hope this progress continues," he said in a statement.