Russian President Vladimir Putin has approved Prime Minister Mikhail Mishustin's proposal to reshuffle the government, Russian state news agencies reported, citing the Kremlin. Kremlin spokesman Dmitry Peskov said the proposals for changes to the government's composition were presented during a meeting that also discussed social and economic issues.

"Along with a discussion on social and economic issues, the prime minister proposed to the head of state a number of changes to the figures that make up the government. Putin agreed to them," Peskov said, according to Russian state media.

The reshuffle follows September parliamentary elections, which renewed seats in the State Duma. The changes come at a time when Moscow is seeking new sources of economic growth while facing a growing budget deficit, higher taxes and relatively high interest rates. The names of the new ministers have not yet been made public. The appointments will be subject to parliamentary approval. Meanwhile, the government has confirmed that Finance Minister Anton Siluanov will remain in office, but will also take on the responsibilities of deputy prime minister.