Vladimir Putin is a former Russian intelligence officer and a politician who has served as president of Russia from 1999 to 2008 and from 2012 to the present. He was also the country's prime minister in 1999 and from 2008 to 2012. When Vladimir Putin was named president in 1999, Russia's constitution limited the president to two consecutive terms. That's why, after his second term ended in 2008, he served as prime minister before becoming president again in 2012. However, in January 2020 Putin drafted a constitutional amendment that would allow him to remain president for two more terms. It was included in a package of amendments that was approved by the Russian legislature and, in July 2020, by Russian voters in a national referendum. 

During Putin's first two terms as president, he signed into law a series of liberal economic reforms, such as the flat income tax of 13 percent, reduced profits tax and fresh ground and civil codes. Within this period, poverty in Russia reduced by more than half and actual GDP has grown rapidly.

The President of Russia is limited to no more than two consecutive six-year terms, and governors of all federal subjects are limited to no more than two consecutive five year terms.The economy of Russia has gradually transformed from a planned economy into a mixed market-oriented economy. It has enormous natural resources, particularly oil and natural gas. It is the world's ninth-largest economy by nominal GDP, and the sixth-largest by PPP.

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