DPA, 07th MAY, 2018- Russia is in need of vast improvements, Vladimir Putin said on Monday as he was inaugurated for his fourth term as president, approaching two decades in power.  

“The purpose of my life and my work is to serve the people and our fatherland. This is what is most important for me,” Putin said in a speech after taking the oath in the Kremlin in front of about 5,000 guests.  

Former German chancellor Gerhard Schroeder, who last year became board chairman of Russian state oil giant Rosneft, stood in the front row between Russian Prime Minister Dmitry Medvedev and the Russian Orthodox Church’s Patriarch Kirill.  

Russia is in need of improvement in many areas to ensure a free and just society, Putin said, adding that the world is rapidly changing and Russia needs to keep up.  

The 65-year-old has already been in power for 18 years. He side-stepped a constitutional ban on serving more than two consecutive presidential terms by serving as prime minister between 2004 and 2008.  

The country, which still needs to overcome setbacks incurred during the turbulent 1990s, “should be modern and dynamic,” Putin said, adding that health care and other social services must improve.