2019年俄罗斯经济低速增长，按现值计算的GDP增速为1.3%。全年经济增长呈现前低后高，逐渐提速的特征。第一、二季度明显缺乏活力，9月之后出现提速迹象。采矿和加工业等传统产业贡献了经济增速的主要部分。消费增长停滞，投资增长乏力，出口陷入负增长，拖累了经济增速。2019年俄罗斯全年物价水平基本稳定，第三季度和第四季度甚至出现通货紧缩迹象。全年平均失业率为4.6%，居民实际可支配收入微弱增长0.8%，人口自然增长率再次转为负值。俄联邦财政状况良好，债务风险处于低水平。金融体系运转良好，国际收支状况继续改善，金融风险可控。2018年退休金改革、增值税改革和谨慎保守的财政货币政策以及世界经济增长乏力、能源价格低位徘徊，都对俄罗斯经济增长带来了压力。
In 2019，Russia’s economy grew at a low rate and the GDP growth at current value was 1.3%. The economic growth was lower at the beginning of the year and became higher at the end. In the first and second quarters，the Russian economy obviously lacked vitality but it showed signs of speeding up after September. Traditional industries such as mining and processing have contributed a major part of economic growth. Stagnation in consumption growth，sluggish investment growth，and negative growth in exports have negatively affected the economic growth. The price level in Russia was basically stable throughout the year. In the third and fourth quarters，there were even signs of deflation. The annual unemployment rate was 4.6%，the actual disposable income of residents increased slightly by 0.8%，and the natural population growth rate turned negative again. The finance was in a good condition the debt risk remained at a low level. The balance of payments continued to improve，and financial risk was manageable. But the 2018 pension reform，value-added tax reform，prudent and conservative fiscal and monetary policies，weak global economic growth，and low energy prices have all put pressure on Russia’s economic growth.
| Keywords： | Economic StagnationRussia’s EconomyShrinking of Domestic DemandDecline of ExportFiscal Structural Stimulus |
