(ANSA) - Rome, December 7 - Premier Matteo Renzi said Wednesday he would tender his formal resignation to President Sergio Mattarella at 19:00 local (18:00 GMT) after the 2017 budget was approved earlier in the day. "Budget law approved. At 19:00 formal resignation. Thanks to all. Viva l'Italia!" he said on Twitter.

Renzi has announced he is quitting after his flagship Constitutional reform was rejected by close to 60% of voters in Sunday's referendum, but had held off the resignation at President Sergio Mattarella's request until the budget is passed.

Renzi faces a crunch meeting of the his centre-left Democratic Party (PD) later on Wednesday. The party is split between Renzi supporters and a minority of left-wing dissenters who spearheaded internal opposition to him and openly called for a 'No' vote in the referendum.

The outgoing premier is reportedly set to propose either a government of national responsibility with the participation of as many other parties as possible, or early elections.

However, Mattarella is said to be against holding a national election before the electoral laws for the Lower House and the Senate are made consistent with one another. The 'Italicum' system is designed only to apply to the Lower House as, under the Constitutional reform rejected on Sunday, the Senate was meant to revamped and made up of regional representatives.

