Egypt's interim prime minister has announced the resignation of his Cabinet in a surprise move that could pave the way for the country's military chief Abdel Fattah el-Sissi to declare his candidacy for president.

Hazem el-Beblawi made the announcement in a televised address Monday, but did not give a specific reason for the decision.

The outgoing prime minister acknowledged the economic and security issues faced by the Cabinet, but says the country is in a much better place than when he first took office.

"The cabinet has, in the last six or seven months, responsibly and dutifully shouldered a very difficult and delicate burden and I believe that, in most cases, we have achieved good results, but like any endeavor, it cannot all be success, but rather within the boundaries of what is humanly possible."

The military-backed interim government has been running Egypt since the army ousted president Mohamed Morsi in July of 2013.

Egypt plans to hold a presidential election in April followed by a vote for a new parliament, as part of its post-Morsi transition plan.

Army chief Abdel Fattah el-Sissi has not yet declared he is running for president, but many observers believe he is likely to run and enjoy broad support.