Welcome to Android Central! I'm not familiar with the Prestigio, and especially not familiar with Android devices with Intel processors. Your phone's spec list shows that it has an Intel Atom Z2420 processor, which is single core with integrated graphics. Single core processors in general aren't going to give very good performance on CPU-intensive apps like games, but it's hard to comment on how the Atom CPU compares with typical Android ARM CPUs like the dual or quad-core Tegra line. In addition, Intel processors have historically not been as smooth as ARM CPUs on Android devices, and it used to be that Intel processors could only run about 90% of Android apps (at least, that was the case in 2012). Things presumably have improved by now, but it might still be a reason for suboptimal performance.
Updating your OS is always a good thing to consider, but it's best to do so only if the manufacturer is providing it. So check Settings/About Phone/System Update to see if there is one available. If you try manually installing an update, you'll probably need to do a lot more research.
It's hard to comment on how well GTA3 would perform on your phone. 1 GB of RAM should be fine, but the processor is the real question. You'd also need to see if GTA3 is even compatible with your phone.