Ukraine's president has announced the dissolution of the parliament following the collapse last month of Ukraine's coalition government.

"In conformity with the Ukrainian constitution, I halt the parliament's powers and announce parliamentary elections," Viktor Yushchenko said in a televised address to the nation on Wednesday.

Yushchenko also called for an early election, the third in less than three years that will throw this ex-Soviet nation into further political turmoil just as it is severely battered by the global financial crisis.

The Ukrainian government collapsed in September after Yushchenko's party pulled out in protest at prime minister Yulia Tymoshenko's decision to support a bid by the pro-Russian opposition to reduce the president's powers.

Yushchenko accused Tymoshenko of ignoring national interests for the sake of gaining power.

Under Ukraine's constitution, the president can dissolve parliament if a new government is not formed within 30 days of the previous one collapsing.