The Likud and Blue and White parties announced on Wednesday evening that Prime Minister Binyamin Netanyahu and Knesset Speaker Benny Gantz have agreed that the new government will be sworn in on Wednesday of next week.

The move will take place once the legislative framework put in place to enable the Netanyahu-Gantz rotation in the post of Prime Minister is completed.

The statement was released after the opposition surprisingly withdrew the thousands of amendments it had filed to the legislation enabling the rotation. The move was meant to embarrass the coalition whose members were not ready to vote on the final version of the bills.

The legislation must pass two more readings in the plenum before the Knesset's mandate expires on Thursday at midnight.

Once the bills pass, Blue and White will join 52 MKs in the right-wing bloc recommending Netanyahu to form a government. President Reuven Rivlin is expected to give Netanyahu a two-week mandate to do so.

Shortly after Netanyahu and Gantz published the statement on the formation of the government, the judges of the Supreme Court unanimously ruled that there is no reason to interfere with imposing the task of forming the government on Netanyahu, nor is there reason to intervene in the Likud-Blue and White coalition agreement.

The 11 judges stated that "we have not found any legal grounds to intervene in imposing the task of forming the government on MK Netanyahu."

"That is why we unanimously decided to dismiss the petitions on this issue," they wrote.