(VOVworld) – The World Bank (WB) has announced its report on Vietnam’s economy in the first half of this year.

Vietnam's GDP growth rate is forecast to be 6% in 2016 (Photo: VNA)

In the report released on Tuesday, the WB said that after posting strong growth in 2015, Vietnam’s economy grew at a slower pace in the first half of this year, with gross domestic product (GDP) growth of 5.5 percent, compared to 6.3 percent last year. The slowdown was attributed to a recent drought and saltwater intrusion and their adverse impact on agriculture, and to weaker industrial production. Achim Fock, the WB’s Acting Country Director for Vietnam, said that to maintain high growth, Vietnam needs to push ahead with restructuring to promote productivity. He said the WB expects Vietnam’s GDP to reach about 6 percent this year. He added that while growth maybe slower down this year, Vietnam’s mid-term economic outlook is still positive.

Another WB report on Vietnam’s elderly was released Tuesday. The report said Vietnam’s population is aging rapidly and suggested some policy actions to cope with the problem. About 6.5 million people in Vietnam are at least 65 years old at present. That number is projected to almost triple to 18.4 million by 2040.