JERUSALEM (Reuters) - Prime Minister Benjamin Netanyahu announced on Tuesday he would seek an early Israeli election, a ballot that political commentators said would likely take place in January or February.

Netanyahu said in a televised statement that he had reached the conclusion his coalition government would not be able to agree on a national budget, adding: "I have therefore decided, for the benefit of Israel, to hold elections now and as quickly as possible."

(Writing by Ally Fisher-Ilan Editing by Jeffrey Heller)