MOSCOW, April 16. /TASS/. Ex-Finance Minister Alexei Kudrin said Russia needs a new model of growth. He made this statement during Vladimir Putin’s annual question and answer session officially known as "The Direct Line with Vladimir Putin."

Kudrin also said he fears that Russia’s share in the global economy will decline.

"I think adjustments won’t improve the situation. The old model is outdated and a new one is not insight", he said.

Kudrin asked the president what he was ready to do to create a new model of economic growth.