12/21/2012 08:15 am ET Updated Feb 20, 2013

Mario Monti, Italy Prime Minister, Expected To Resign On Friday

ROME, Dec 21 (Reuters) - Italian Prime Minister Mario Monti will hand in his resignation to President Giorgio Napolitano after parliament approves the 2013 budget later on Friday, political and government sources said.

Monti, who this month lost the support of the centre-right People of Freedom (PDL) party which had backed his technocrat government in parliament, had already announced he would stand down as soon as the budget was passed.

He is due to hold a news conference on Sunday at which he is expected to say whether he intends to stand as a candidate in the election, likely to be held on February 24.