Rome: Italian Prime Minister Mario Monti tendered his resignation to President Giorgio Napolitano on Friday, shortly after Parliament approved his government`s 2013 budget.
The country is likely to hold national elections on February 24, 2013.
In the meantime, Napolitano has asked 69-year-old Monti to continue in a caretaker capacity.
As per reports, Napolitano is expected to dissolve Parliament in the next few days and has already indicated that the most likely date for the election is February 24.
He will begin consultations with political leaders on Saturday to discuss the next steps, the statement said.
Monti was brought in to form a technocratic government last year when Silvio Berlusconi stepped down as country`s prime minister.
Since taking office with his non-party team of ministers, Monti has been implementing economic austerity measures and argues that his spending cuts and tax hikes have staved off disaster.
Now, 76-year-old Berlusconi,who has already held the post of PM thrice, is set to contest his sixth election campaign.
(With Agency inputs)