MOSCOW (AP) — Russia's house of parliament has overwhelmingly approved Dmitry Medvedev for a new term as prime minister.

Medvedev was nominated a day earlier by President Vladimir Putin, who was inaugurated for a fourth term as Russia's president. Putin signed a decree formalizing Medvedev's appointment soon after the parliamentary vote.

Medvedev has been prime minister since 2012, after four years serving as Russia's president while Putin switched to the premiership because of term limits.

He is expected to make changes in the current lineup of deputy prime ministers and department ministers, but it wasn't clear Tuesday when those changes would be announced.

As prime minister, Medvedev will be responsible for implementing the ambitious plan for Russia's development that Putin issued after his inauguration. The plan calls for heightened efforts to diversify Russia's economy, which is now heavily dependent on oil and gas exports, by strengthening the technology sector and boosting agricultural exports.

Putin wants Russia to become one of the world's top five economies by the time his new term ends in 2024.