During Putin's first premiership and presidency (1999–2008), real incomes increased by a factor of 2.5, real wages more than tripled; unemployment and poverty more than halved, and the Russians' self-assessed life satisfaction rose significantly.
Putin's first presidency was marked by high economic growth: the Russian economy grew for eight straight years, seeing GDP increase by 72% in PPP (as for nominal GDP, 600%).
As Russia's president, Putin and the Federal Assembly passed into law a flat income tax of 13%, a reduced profits tax, and new land and legal codes.
As Prime Minister, Putin oversaw large-scale military and police reform.
His energy policy has affirmed Russia's position as an energy superpower.
Putin supported high-tech industries such as the nuclear and defense industries. A rise in foreign investment contributed to a boom in such sectors as the automotive industry.
However, capital investment recently dropped 2.5% because of the crisis in Ukraine according to forecasts by economists from the IMF.
Putin has cultivated an image of a strongman and a popular cultural icon in Russia.