MOSCOW - Russia's newly-inaugurated President Vladimir Putin on Monday signed a decree "about long-term state economic policy", the Kremlin press service said.

According to the decree, the state's aim is to increase the pace of its economic growth and citizens' income and build a technology-advanced Russia.

The decree envisages the investments in Russia will grow to 25 percent of the gross domestic product (GDP) by 2015 and to 27 percent by 2018.

Also, Russia should take the 50th place in the World Bank "Doing Business" rating by 2015 and 20th place by 2018, the bill says. Currently, Russia occupies 120th place in that rating.

This is Putin's second presidential decree signed on Monday. The first decree ordered a one-time money payment for the war veterans.

After winning the elections in March, Putin promised his first decrees as the President would outline the road map of Russia's development for the next decades.