Kosovo: Kosovo is set for another snap election after parliament failed to elect a new president on Tuesday, pitching Europe's youngest nation back into the thick of a political crisis.

According to Qatar News Agency, parliament had until midnight on Tuesday to choose a head of state after President Vjosa Osmani's term ended in early April. However, Prime Minister Albin Kurti was unable to gain the support of opposition parties to vote for his candidate.

Two-thirds of the 120-seat parliament must be present for the vote to be valid. The opposition boycotted the session, and only MPs of the ruling Vetevendosje party and minorities were present in the parliamentary hall.

"Based on the (Constitutional Court) verdict, the parliament is considered dissolved," said the speaker of the parliament and acting president Albulena Haxhiu at midnight. She added that new elections would be called within the 45-day constitutional deadline.

This development sets the country on course for a third election in just over a year, following an inconclusive general election held early last year that led to snap elections in December. During December's snap poll, Kurti's party won with over 51 percent of the vote, securing 57 seats in the 120-seat assembly, though insufficient to govern alone.

The situation extends a political deadlock in Kosovo, which has aspirations to join the European Union. The Balkan country had no functioning government for most of last year as the fractured parliament threatens much-needed international funding.