Vladimir Vladimirovich Putin (Russian: Влади́мир Влади́мирович Пу́тин, IPA: ( listen); born 7 October 1952) served as the second President of the Russian Federation and is the current Prime Minister of Russia, as well as chairman of United Russia and Chairman of the Council of Ministers of the Union of Russia and Belarus. He became acting President on 31 December 1999, when president Boris Yeltsin resigned in a surprising move. Putin won the 2000 presidential election and in 2004 he was re-elected for a second term lasting until 7 May 2008.
Because of constitutionally mandated term limits, Putin was ineligible to run for a third consecutive presidential term. After the victory of his successor, Dmitry Medvedev, in the 2008 presidential elections, Putin was nominated by Medvedev to be Russia's Prime Minister; Putin took the post on 8 May 2008.
Putin is credited with bringing political stability and re-establishing the rule of law. During his presidency, Russia's economy bounced back from crisis, seeing GDP increase by 72% in PPP (sixfold in nominal), poverty decrease by more than 50%, and average monthly salaries increase from $80 to $640. These achievements were ascribed to strong macroeconomic management, important fiscal policy reforms and a confluence of high oil prices, surging capital inflows and access to low-cost external financing, and were described as impressive by analysts.