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Russian parliament approves new prime minister

Russian legislators approved President Vladimir Putin's nominee for prime minister, Reuters reported, a day after his push for constitutional amendments led to the resignation of Dmitry Medvedev and his Cabinet.

Mikhail Mishustin, the head of Russia's Federal Tax Service, obtained 383 of the 424 confirmation votes cast by members of the State Duma, the parliament's lower house. Forty-one lawmakers abstained.

Mishustin is credited with leading the push to digitalize the country's tax system to curb evasion rates and bring smaller businesses into the formal economy, according to German broadcaster Deutsche Welle.

The selection of Mishustin as prime minister "may indicate that the economic policy agenda will be dominated by the fiscal tools," said Dmitry Dolgin, ING Chief Economist for Russia.