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Bucharest, Romania (CNN) -- Romania's newly appointed government won the approval of parliament Monday, gaining the official right to run the country.
The Cabinet was installed during a ceremony Monday evening.
Romania is the latest country in the European Union to welcome a left-leaning government amid austerity fever, corruption and widespread public pressure. The change of power is the result of a fiscal tightening by the former center-right Democratic Liberal government, which led a slow recovery from the economic recession in the past three years.
The government was approved with 284 votes, 49 more than the minimum required by the constitution; 92 lawmakers voted against the Cabinet.
"I am honored and proud to have gained your vote today and I hope I will not disappoint you," said the new prime minister, Victor Ponta, after the results were announced. "I would like to thank my colleagues for voting a Social Democrat prime minister and to assure them I will vote a liberal president, as well."
The former government collapsed at the end of April after a censure motion filed by the opposition won approval in parliament. The new government, an alliance of Social Democrats and liberals, was also backed by the lawmakers representing minorities and by the National Union for the Progress of Romania (UNPR), a center-left party run by a group of independents that struck a deal with Ponta last week.
With a Romanian currency dropped to an all-time low against the euro shortly after the former government's fall, the new Cabinet is expected to maintain the country's economic stability and continue the reforms within the state-owned companies.