The significant pulling effects of final consumption expenditure and net export were the main reason for the moderate economic growth of Russia in 2018. In the first half of 2019，the economic growth of Russia was weak because of the decline of export growth caused by the shrinking global market demand，the low enthusiasm of public investments caused by fiscal budget constraints，and the adjustment of value-added tax rate to curb private consumption and other factors. In the future，the large fluctuations in international oil prices，the progresses and paces of structural adjustment，the quite low possibilities of lifting sanctions implemented by the United States and European Union in the short term，and the uncertainties in trade frictions between China and the United States，will have an important influences on Russia’s economic growth. In conclusion，it is more likely that Russia’s economic growth will slow down significantly in 2019.