JERUSALEM: Israeli Prime Minister Benjamin Netanyahu said on Tuesday that holding elections now would be a “mistake,” as he faces the possibility of a snap vote should he fail to pass a national budget.

The budget will have its first reading on Wednesday in Israel’s parliament, where Netanyahu’s coalition is only able to exercise a majority thanks to the uncertain cooperation of a former ally.

“Of course I’m concerned... I think we’re in a very sensitive situation,” Netanyahu said at a televised press conference.

Failure to pass the budget by March 31 would trigger early elections.

“I think the last thing we need right now is elections. We’ll have elections later on this year, but I think it’s a mistake to have them now” he said.