‘The ruling political party of Portugal, notorious for its pro-austerity policies, has won the national parliamentary elections, official results said.

Portuguese Prime Minister Pedro Passos Coelho announced Sunday that he was “ready” to form a government.

“We will inform the president of the republic that we are ready to form a government,” Passos Coelho told supporters in the capital Lisbon.

Since 2011, the government has implemented harsh austerity measures to shore up the ailing economy of Portugal.’

Read more: Pro-austerity government wins election in Portugal