Turkey's Prime Minister Ahmet Davutoglu speaks during a news conference in Ankara, Turkey, August 25, 2015.[Photo/Agencies]

ANKARA - Turkey will hold a snap elections on November 1, said Sadi Guven, chairman of Turkey's Supreme Electoral Council, in a statement on Tuesday.

The decision came as Turkish Prime Minister Ahmet Davutoglub has exhausted the 45-day period to form a coalition government following the June 7 elections.

The Supreme Election Board (YSK) held a meeting on Tuesday and chairman of the body Sadi Guven stated that they have agreed on holding the early elections on Nov. 1.

Earlier Tuesday, Turkish President Recep Tayyip Erdogan gave a mandate to Prime Minister Ahmet Davutoglu to form an interim government which will take the country to an early election, the presidential office said in a statement.

According to the constitution, Davutoglu has five days to form the interim cabinet and has to offer cabinet posts to opposition members. He can also assign candidates from outside parliament if the opposition parties turn down his offers.

The opposition parties including the Republican People's Party and the Nationalist Movement Party have refused to take part in an interim government after a series of talks.

The ruling Justice and Development Party is seeking an early election that would give the party an opportunity to win back its majority in the parliament.

No single party won a parliamentary majority to form a single-party government in the June 7 national elections.