Governing Liberal Coalition declares 'miracle victory' in Australian Federal Elections

In a surprising turn of events, Australia's governing Liberal-National Coalition has reportedly defied predictions on Saturday to win the country's federal elections.

Only 70 percent of the nationwide votes have been counted so far, but the Coalition has won — or is ahead in — 74 seats, with main opponent Labor trailing with 66 seats. The Coalition needs 76 seats to claim a majority government for center-right Liberal Prime Minister Scott Morrison.

The anticipated victory comes as a shock in light of most pre-election opinion polling, which largely pointed to a narrow victory for Labor and its leader, Bill Shorten. BBC writes that it would be difficult to "find someone who says they saw this result coming" and Morrison described the result as a miracle. Shorten accepted defeat and announced he would resign his post.

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The election was considered a crucial one, BBC reports, because Australia has had a tumultuous decade-plus in the political realm. While elections in the country are held every three years, no prime minister has served a full term since 2007.

Australia has mandatory voting and a reported record 16.4 million voters enrolled for the election.