Moscow, May 8 (Reuters): Vladimir Putin today took over as Russia’s Prime Minister a day after leaving the Kremlin and pledged to curb inflation and cut taxes to make Russia a leading economic power.

Putin said in a speech to parliament presenting his candidacy that he wanted “single-digit inflation within a few years” as part of a long-term plan to make the country a global economic leader by 2020.

Legislators voted 392-56 to appoint him as Prime Minister, with the opposing votes coming from the Communists, the only Opposition grouping in parliament.

Dmitry Medvedev, Putin’s protege who was sworn in as President yesterday, later signed a decree confirming the appointment.

Putin’s appearance marked the latest stage of a carefully choreographed transition of power to Medvedev, the man Putin anointed as his successor. Medvedev earlier presented Putin’s candidacy, saying in brief remarks that his mentor would play a “key role” in shaping the country’s development over the next 12 years.

“All these years we worked with him and continue to work together and I think no one has any doubts that our tandem will only get stronger,” the new President said.

He then sat on the platform and watched as Putin took the rostrum for a 45-minute exposition of his priorities.

“First and foremost we need a robust macro-economic situation,” Putin said. “We will devote the closest attention to all aspects of financial policy — first of all to measures directed at reducing inflation.”

Investors have said inflation is Russia’s biggest economic problem, with price rises running at 14.3 per cent in April on an annual basis and growing fears of labour unrest.