[2] In April 2024, she left her position as prime minister to run for president of Iceland in the 2024 presidential election.

After coalition talks were completed, President Guðni formally granted her a mandate to lead the government, which was installed on 30 November.

This stability has been attributed to a balanced approach that incorporates different political perspectives, including a focus on regional support and primary industries as well as a cautious stance on European integration.

These include making the tax system more progressive, investing in social housing, extending parental leave, and taking steps to reduce gender pay inequality.

To maintain coalition stability, she has also made some compromises[dubious – discuss], such as forgoing the establishment of a national park in the country's centre.

[citation needed] While Iceland's small size and geographical isolation may have contributed to its relatively low death toll, the country's proactive measures under her guidance were also a factor.

In the 2021 parliamentary elections, the Left-Green Movement lost three of its 11 seats in the Parliament, but the coalition government still retained its majority.

Polls taken in the aftermath of the election showed a significant majority of Icelanders supported Katrín's continued role in government.

[16] In October 2023, she gained international attention for going on strike with women and non-binary people in calling for pay equality and action against gender-based violence.

[17] On 9 April 2024, Katrín resigned as prime minister and chairperson of the Left-Green Movement and ran for the presidency of Iceland.