(CNN)Israeli Prime Minister Benjamin Netanyahu will get two extra weeks to form a government, Israel's President said in a news release Monday. Netanyahu made the request at President Reuven Rivlin's Jerusalem home Monday. "We have made progress and are on the way to forming a government," Netanyahu told Rivlin, according to a statement. "However, I require additional time in order for the government to be stable and so that we might reach agreement on important issues that will aid us in meeting the challenges facing the State of Israel." Netanyahu must form his government in less than 42 days, according to Israeli law. "I wish you success in your work," Rivlin told the Prime Minister, according to a statement. "The entire people of Israel hope that a government will be established; indeed, a transition government has not received the confidence of the Knesset and is viewed by the public as needing to be dealt with. I hope that in the coming days you will succeed in forming a stable government for the State of Israel." Last month, Netanyahu's Likud Party snared 30 of the 120 seats in the Knesset, Israel's parliament, giving its leaders the first chance at forming a coalition government. The Zionist Union came in second, with 24 seats.
Israeli law says the Prime Minister must form his government in less than 42 days . Netanyahu cites government stability and reaching "agreement on important issues" as reasons he needs additional time .