On Saturday, Mr Albanese’s Labor Party defeated the conservative government of Scott Morrison.
Whether Mr Albanese will form a majority or rely on crossbenchers to rule.
On Monday, the prime minister travelled to Tokyo to meet the leaders of the so-called quad nations of the United States, India and Japan.
He was sworn in earlier in the day, and four key cabinet members, including new Foreign Minister Penny Wong, will accompany him to Japan.
The new Deputy Prime Minister and Minister of Employment is Richard Marles, the Treasurer is Jim Chalmers, and the Attorney-General and Minister of Finance are Katy Gallagher.
Richard Marles is the new Deputy Prime Minister and Minister of Employment, Jim Chalmers is Treasurer, and Katy Gallagher is Attorney-General and Minister of Finance.
It is Australia’s first Labor government in nearly a decade. The party has won 72 seats in the lower house, but counting is on whether they can get the 76 seats needed to form a majority.
But the primary vote fell for both major parties – nearly a third of Australians put the Greens, independents and other minor parties as their first preference.
The Quad Group is primarily seen to counter the growing Chinese influence in the Indo-Pacific region.
It will meet on Tuesday following recent diplomatic tensions in the Pacific region after the Solomon Islands signed a security deal with China last month.