* Speaker says president to step down on July 13
* Thousands of protesters storm president's house, office
* Prime minister's private home set on fire
* PM says he is willing to step aside
* Protesters demand president's resignation over crisis
Sri Lanka's President Gotabaya Rajapaksa will step down next Wednesday, the country's parliamentary speaker said on Saturday, after a day of violent protests in which demonstrators stormed the president's official residence and set fire to the prime minister's home in Colombo.
Speaker Mahinda Yapa Abeywardena said in a video statement Rajapaksa had informed him that he will step down from his post.
"The decision to step down on 13 July was taken to ensure a peaceful handover of power," Abeywardena said. "I therefore request the public to respect the law and maintain peace," he said.
The announcement came after a dramatic escalation in months of anti-government protests over the dire economic crisis in Sri Lanka.
The news of president's decision triggered an eruption of celebratory fireworks in parts of Colombo city.
Prime Minister Ranil Wickremesinghe also said he is willing to resign to make way for an all-party government, his office said in a statement on Saturday evening.
Throughout the day soldiers and police were unable to hold back a crowd of chanting protesters demanding Rajapaksa's resignation and blaming him for the country's worst economic crisis in seven decades.
Neither Rajapaksa nor Wickremesinghe were in their residences when the buildings were attacked.
Video footage on local news channels showed a huge fire and smoke coming from Wickremesinghe's private home in an affluent Colombo neighbourhood. His office said that protesters had started the fire.
There were no immediate reports of injuries in the blaze. Wickremesinghe had moved to a secure location, a government source told Reuters early in the day.
