Egypt's Supreme Council of the Armed Forces will dissolve the Parliament and dismiss the government as it takes over the country after President Hosni Mubarak resigned Friday night.

82-year-old Hosni Mubarak has resigned as President of Egypt under popular pressure after 18 days of massive street protests.

Hosni Mubarak was the President of Egypt for almost 30 years - from October 1981 till February 2011.

Mubarak's resignation was announced Friday night in a televised by Egyptian Vice President Omar Suleiman, who Mubarak appointed as his first VP in 30 years just two weeks ago as a measure designed as a concession to the protesters.

Al Arabiya TV reported that the higher military council will sack the cabinet, suspend both houses of parliament and rule with the head of the supreme constitutional court.

The army statement was expected to be delivered later on Friday and followed President Hosni Mubarak's dramatic resignation after 30 years in power.