There would be presidential and legislative elections under terms set by the new constitution, which itself would be put to a referendum.
But in his speech, Morsi said respect for the constitutional order was the “only guarantee against further bloodshed.”
“The people chose me in free and fair elections,” and he would “continue to shoulder his responsibilities” as Egypt struggles with the legacy of decades of authoritarian rule.
Once again, he accused supporters of the ousted Mubarak of trying to sow chaos and incite violence.
The president renewed his appeal to the opposition to join a dialogue, an appeal already repeatedly rejected as a sham.
The main opposition June 30 Front coalition said it was ready to join urgent talks on the negotiated transition called for by the army.
The Front, which includes the grassroots Tamarod movement, named former UN nuclear watchdog chief Mohamed ElBaradei as its chief negotiator.
In addition to the 16 deaths at the pro-Morsi rally, seven other people were killed and dozens more injured in clashes in the capital between the president’s supporters and opponents.
As political uncertainty grew Tuesday, Morsi was hit with a spate of resignations, including that of his foreign minister Mohammed Kamel Amr.
Presidential spokesman Ehab Fahmy and cabinet spokesman Alaa al-Hadidi also resigned, officials and the media reported.
US President Barack Obama, whose government is a major military aid donor to Egypt, called Morsi to warn him that the voices of all Egyptians must be heard, a White House official said.
Washington was committed to “the democratic process in Egypt and does not support any single party or group,” Obama told him.
Morsi’s opponents accuse him of having betrayed the revolution by concentrating power in Islamist hands and of sending the economy into freefall.
His supporters say he inherited many problems from a corrupt regime, and that he should be allowed to complete his term, which runs until 2016.
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