Malcolm Turnbull Sworn in as Australia's Prime Minister For Another Term Tuesday July 19,2016

Malcolm Turnbull was sworn in for another term as Australia's Prime Minister on Tuesday July 19,2016 after a narrow election victory

Malcolm Turnbull was sworn in at Government House in Canberra by Governor General Peter Cosgrove, Queen Elizabeth II's representative in Australia, and has broadly stuck with the same team of ministers he took to the election

 Malcolm Turnbull, left, shakes hands with Governor-General Peter Cosgrove after Turnbull was sworn in as Australia's Prime Minister at Government House in Canberra, Australia, Tuesday, July 19, 2016.

The multi-millionaire former banker's Liberal/National coalition clung to power in closely-fought July 2 polls, with the party holding 76 seats, and potentially one more with counting still underway, in the 150-seat House of Representatives.

While enough to retain office, it was a far from convincing win for the tech-savvy grandfather, as the conservative coalition lost its comfortable majority.

It has raised questions over whether he can govern successfully, with the Labor opposition increasing its lower house seats and a higher number of minor party and independent senators to contend with in the upper house.

Prime Minister Malcolm Turnbull's cabinet will have only minor changes after two ministers in the last cabinet lost their seats in July 2 elections.

The government has a majority of just one seat in the 150-seat House of Representatives, where parties with a majority form the government.

Malcolm Turnbull's hopes of a two-seat majority faded Monday when the candidate for his conservative Liberal Party ended eight votes behind the center-left Labor Party candidate after 88,360 votes were counted, although any result closer than 100 votes automatically triggers a recount

The government's junior coalition partner, The Nationals, were rewarded for a relatively strong performance in the elections, with additional cabinet minister Matt Canavan plus three new assistant ministers, David Gillespie, Luke Hartsuyker and Michael McCormack.

Two ministers who supported Turnbull's overthrow of Abbott in an internal party showdown in September — Peter Hendy and Wyatt Roy — were among the more than a dozen Liberal lawmakers who lost their seats. The Nationals — a more conservative, rural-based party — increased their seats in the House of Representatives by one to 16.

Australia's Prime Minister Malcolm Turnbull, front center, and Governor-General Peter Cosgrove, sixth right in front, pose with a newly sworn in government at Government House in Canberra, Australia, Tuesday, July 19, 2016