Italian President Sergio Mattarella on today asked outgoing Prime Minister Matteo Renzi to delay his resignation for long enough to oversee the adoption of the country's 2017 budget.
The presidential office confirmed the move after Renzi went to see Mattarella after announcing his intention to step down following a crushing defeat in a referendum on constitutional changes.
"The prime minister, following the outcome of the constitutional referendum held yesterday, announced that he could not continue with the mandate of the government and has therefore expressed his intention to resign," a statement said.
"The president of the republic, given the need to complete the parliamentary process of approval of the budget law... Asked the prime minister to postpone his resignation until this requirement has been fulfilled."
The approval of the budget is expected to be completed by the end of the week, according to Italian media. The government has already won a vote of confidence on its contents in the lower house of parliament.
Disclaimer: No Business Standard Journalist was involved in creation of this content
