Outgoing Serbian President Boris Tadic, who was defeated in presidential elections Sunday, has said he most probably will not be Serbia's new PM.

Sunday Tadic lost a close second round to moderate nationalist Tomislav Nikolic, who gathered just under 49.55% of the vote, against Tadic's 47.3%.

A low turnout of less than 47% is believed to have played adversely for Tadic, who had gathered 25.31% at the first round, against Nikolic's 25.05%.

The first round of Serbia's presidential elections on May 6 coincided with contested parliamentary, regional and municipal elections.

Tomislav Nikolic's Serbian Progressive Party came out first with 24.04% of the vote (73 MPs), ahead of Tadic's Democratic Party with 22.11% (67 MPs), and former vice-PM Ivica Dacic's Socialist Party with 14.53% (44 MPs).

None of the parties however have come close to forming a majority in Serbia's 250-seat Parliament and the country is set for complicated coalition negotiations, which have already started.

After winning the presidential race Sunday, moderate nationalist Tomislav Nikolic vowed to keep Serbia straight on its path towards integration into the European Union.

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