France’s Moscovici Keeps 0.8% Economic Growth Target for 2013

French Finance Minister Pierre Moscovici said he is maintaining an economic growth target of 0.8 percent for 2013 even after the French economy grew less than initially reported in the third quarter.

“I have no reason to change our growth outlook,” Moscovici said on Europe 1 radio late yesterday.

Reaching that goal will depend in part on how economic actors react to changes in banking regulation and on other efforts to try to halt the crisis in the euro zone, as well as on growth in the U.S., Moscovici said.

In France, gross domestic product rose 0.1 percent in the third quarter, half the pace estimated on Nov. 15, statistics institute Insee said yesterday. Insee said on Dec. 20 that France’s economy will shrink 0.2 percent this quarter and begin a “slight” recovery in the first half of next year.

France is also maintaining its plan to shrink the budget deficit to 3 percent of gross domestic product in 2013, Moscovici said.

To contact the reporter on this story: Alan Katz in Paris at akatz5@bloomberg.net.

To contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.net.

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