Yegor Gaidar's contribution to Russia is misunderstood by most of the country, the late economist's friends said, vowing to correct the public perception and proposing a monument to the post-Soviet reformer.

Gaidar, one of the architects of Russia's market reforms in the early 1990s, died suddenly on December 16 last year aged 53. A memorial service was held on Monday at Moscow's Higher School of Economics to mark 40 days since his death.

He was vilified by the public for the hardships caused by his "shock therapy" policy to move Russia from the Soviet planned economy to free-market capitalism. Supporters maintain that his policies saved Russia, but an opinion poll last month showed just 20% of Russians supported his actions.

"Most of all I am tormented by the feeling that most people in Russia did not understand what Gaidar built," said Yevgeny Yasin, scientific director of the Higher School of Economics.

Former economy minister Andrei Nechaev agreed that Gaidar was wrongly accused over his policies.

"We have awakened public interest in his personality and what he did. We, his supporters, must seize this moment and tell the truth about Gaidar," Nechaev said, adding that the former acting prime minister would one day have a monument erected in his honor, inscribed with the words "The man who saved the country."

MOSCOW, January 26 (RIA Novosti)