Portugal’s president has announced he is dissolving parliament and calling a snap election for January 30, following the minority Socialist government’s defeat in a key vote on the country’s spending plans.

Thursday’s announcement was widely expected. President Marcelo Rebelo de Sousa had previously said Portugal would go to the ballot box two years ahead of schedule if the government’s 2022 state budget proposal was rejected by parliament, which happened last week.

Portugal’s head of state made the announcement in a televised address to the nation.