The new Palestinian Authority government will allegedly to be declared on February 18, with elections set for later this year.

Fatah Executive Committee member Azzam al-Ahmad, who headed the delegation that negotiated with the rival Hamas terror group, made the announcement Monday.

PA Chairman and Fatah leader Mahmoud Abbas, who heads the Palestine Liberation Organization (PLO) as well, met Monday with Hamas politburo chief Khaled Mashaal in Qatar to ink the agreement, which confirms Abbas as prime minister for the interim PA government.

Ahmad told reporters the composition of the new interim government would be announced from Cairo, and would serve until permanent leaders are elected.  A PA “president” and lawmakers are to be elected later in 2012, Ahmad said.

Israel’s Prime Minister Binyamin Netanyahu reacted bluntly to the news, warning Abbas that “It’s either a pact with Hamas or peace with Israel. It’s one or the other. You can’t have them both.”