Vucic told the press after the SNS presidency session that the decision regarding his party's stay in the government was adopted regardless of the position of a majority in the party leadership that early elections were a better option.

He said this was a big dilemma but that he asked the SNS presidency to give up on the idea of early elections as the country was faced with important obligations.

"They unanimously accepted that. We have a number of important agreements to deal with and stability is important," Vucic said underlining the SNS would continue its work in the government.

PM Dacic announced on Tuesday that the government "will continue without the United Regions of Serbia party" and that Finance and Economy Minister Mladjan Dinkic and another two URS ministers will no longer be members of his cabinet.

Dacic, who is the leader of the Socialist Party of Serbia (SPS), spoke about the results of the coalition negotiations on a government reshuffle, explaining that if Vucic' SNS fails to support this, early elections would be called, "or some coalition will be formed without the SNS."

URS leader Dinkic then held a news conference at which he accused Dacic of being afraid of the elections because he wanted to save this position as prime minister.

“He is afraid for his position, given the support Aleksandar Vucic enjoys. He actually sees Vucic as prime minister but he wants to keep that position formally at least for a while, Dinkic said.

Dinkic claims that Dacic allegedly told him that his position of the prime minister would be threatened should there be no changes at the helm of the ministry of Finance and the Economy. According to Dinkic, should Vucic’s SNS party be given both portfolios, there will be no excuse to call early election.

Serbian coalition government was formed on 27 July 2012 and it is comprised of parties gathered around Vucic’s SNS party, Dacic’s SPS party and the URS, led by Mladjan Dinkic

Serbian President Tomislav Nikolic later on Tuesday urged the government, and particularly the Serbian Progressive Party (SNS), to wrap up the government reshuffle quickly and continue working on reforms, dismissing the idea of early elections.

After Nikolic’s meeting with Prime Minister Ivica Daicic on Tuesday evening, the Office of the Serbian President issued a statement saying that the people of Serbia expect the state to create a better life for them and the government to create conditions on par to modern countries.

The Serbian president urged the government, particularly the SNS, to bring the reshuffle to an end as soon as possible and to continue working on reforms.