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STORY: PUTIN VOWS TO DEVELOP ECONOMYDATELINE: Dec. 15, 2011LENGTH: 0:00:41LOCATION: MoscowVORussian Prime Minister Vladimir Putin says he will modernize Russia's economy and protect it from "outside shocks" if elected president in March 2012.Putin had his annual televised call-in question-and-answer session on Thursday.He vowed to diversify and modernize the country's economy, develop the social sphere and protect Russia from "foreign impostors".He warned the looming credit crunch in the U.S. and the debt crisis in Europe could lead to recession that would also hinder Russia's economic development.But he said Russia's gross domestic product this year would increase by more than 4 percent.Putin stepped down in 2008 after two presidential terms. He announced in September he would run again for presidency in 2012. Powered by Producer : Xinhua News Agency

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