Vladimir Putin, Moscow, March 4, 2012. (Xinhua/RIA Novosti)

(VOVworld) - Prime Minister Vladimir Putin has won approximately 64 percent of the votes at Sunday’s Russian Presidential election with 99 percent of the ballots counted. Official figures from Russia ’s Central Election Commission show that Putin firmly in the lead, far enough to avoid a second round. None of the other four candidates has more than 20 percent of the votes. In his victory speech, Putin promised to develop an innovation-oriented economy that benefits the people and to implement political reforms on the premise of stability. He also called for rearmament and modernization of Russian military forces. Puntin said:"We have won in an open and honest struggle but it is not simply a presidential election.   It is also an important test for us and for the whole nation. The election showed that our people can easily distinguish a desire for renewal and revival from political provocations aimed at destroying Russia 's statehood and usurping power. We have won today thanks to the enormous support of voters and we will work and contribute our utmost for the country. We call on everyone to unite for the benefit of our country. I promised that we would win and we have won!"