"I am not going to the G8. There will be international meetings, fewer of them. I have to deal with solving social and economic problems," said Putin, who will become prime minister after president-elect Dmitry Medvedev is inaugurated in May.
When asked whether he will be as active as prime minister as he was during his eight years as president, Putin said: "I think I will be working in the same way, otherwise there would be no sense in agreeing [to become premier]."
As well as becoming prime minister, Putin will be chairman of the ruling party, United Russia.
The president, who is currently on an official visit to Italy's Sardinia and met with Italian prime-minister elect Silvio Berlusconi today and yesterday, said he had selected a new Russian government lineup, but that the new president will have the final say on the issue.
"I have largely selected members of a new government, but the new president has to approve the lineup," Putin told a news conference, adding he planned to cut the number of ministers in the cabinet, while increasing the number of deputy prime ministers.