Russian President Vladimir Putin speaks during the annual VTB Capital Investment Forum "Russia Calling!" in Moscow, Russia October 24, 2017. (AFP PHOTO)

MOSCOW, Oct. 24 (Xinhua) -- Russia's economy needs to become more dynamic and efficient, Russian President Vladimir Putin said Tuesday.

"We cannot be satisfied with the current growth rate. We have to raise it to levels above the global average," Putin said in an address to an international investment forum in the Russia capital Moscow.

The Russia leader said the country's economy is reviving with its gross domestic product rising over the last four quarters, with the growth rate exceeding two percent in the third quarter this year.

To reach the pre-set targets, the country needs to activate new sources of growth, he added.

Primarily, Russia needs to increase labor productivity through modernizing production and launching new industrial units on the basis of modern technologies, he said.

Russia should keep improving its business climate, stimulate competition and create a more favorable environment to attract investment, he said.

Russia will work to improve the quality of professional education as the country is short of skilled labor, he added.

The second source of growth, according to Putin, is to further tap into Russia's export potential.

The volume of Russian exports other than raw materials and energy rose by 18.6 percent year-on-year to 77 billion U.S. dollars in the first eight months this year, accounting for 35 percent of all Russian exports, Putin said.

Putin promised that Moscow would continue to support non-raw material exports with additional spending.

Another source of Russian economic growth will come from increasing efficiency in education, health-care, and social and civil services through digitalization and wider use of information technologies, he said.

"The development of the digital economy and the launch of new business models will make Russian companies more competitive, diversify the economy in general, stimulate industries through breakthrough technological solutions, and guarantee higher living standards for the people of Russia," Putin said.