Armenia's newly elected prime minister has resigned following days of protests against his government, according to the politician's website.

In the past 10 days, thousands of anti-government protesters took to the streets in the capital, Yerevan, accusing Prime Minister Serzh Sargsyan of corruption and authoritarian rule, reports the Al-Jazeera.

On Monday, Sargsyan said he would adhere to the demands of the protesters and step down. 

‘I appeal to all citizens of the Republic of Armenia and to the 'Reject Serge' movement. [Opposition leader] Nikol Pashinyan was right. I was wrong. This situation requires solutions, but I won't participate in them. I leave the post of this country's prime minister,’ a statement on Sargsyan's website said. 

‘The movement on the streets is against my office. I will fulfil your claim,’ according to the statement. 

On Sunday, opposition leader Pashinyan was detained but he was released on Monday.

Addressing the crowds after his release, Pashinyan said he was held ‘in isolation for 24 hours’ and asked people ‘to let him catch up on the latest developments in Yerevan’.

‘I won't say it later, it's already clear, isn't it? We have won,’ Pashinyan said after his release.

Sargsyan was appointed prime minister this month after serving 10 years as the country's president.