Putin says Russian Federation to diversify its state reserves

Honour Guards carry the Russian Presidential Standard and Russian National Flag during the ceremony in the Kremlin

Russia's State Duma is expected to approve PrIme Minister Dmitry Medvedev for another term at the post on May 8, a day after President Vladimir Putin nominated Medvedev to continue as prime minister.

A total of 430 lawmakers participated in the voting, with 374 voting in favor of Medvedev, while 56 MPs voted against.

Putin signed a 17-point executive order after his inauguration Monday, setting out goals of halving poverty and transforming Russian Federation into one of the five largest economies in the world. Two opposition parties with no controlling vote in the legislature have announced plans not to support the acting prime minister.

As we note Putin used the Soviet term "Great Patriotic War" (1941-1945) instead of the commonly used WWII (1939-1945).

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Medvedev, 42, in 2005 succeeded Putin, becoming the third and youngest Russian president to take office, according to the report. Before that, he served as Russian president for four years while Putin headed the government.

Following the voting, the Kremlin press service said that Vladimir Putin signed a decree appointing Dmitry Medvedev Russian prime minister.

Deputy Prime Minister for sports, tourism and youth policy Vitaly Mutko Medvedev proposed to appoint as his Deputy for construction and regional policy.

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