- CNTV English - CCTV News

Homepage > News > Biz >

French FM sees growth recovery in 2013 despite pessimist forecasts

08-20-2012 11:40 BJT

PARIS, Aug. 19 (Xinhua) -- French Finance Minister Pierre Moscovici on Sunday saw a "real potentiel for growth" next year, dismissing any eventual move to lower further next year's growth target of 1.2 percent.

Speaking in an interview with the weekly paper Le Journal De Dimanche, Moscovici said "Once we are able to regain momentum in Europe and France, we have a real potential for growth in 2013."

The minister added France will "support the activity by an active economic policy, especially in favor of purchasing power, housing and comapanies' investment," to revive the country's sluggish economy despite gloomy indicators.

France, Europe' second main powerhouse, reported a zero-growth for the April-June period this year for the third consecutive quarter, ringing an alarming bell of a recession.

But accroding to Moscovici, "weak growth is not a fatality" as "structural reforms ... will stimulate growth."

As for the budget deficit target of 3 percent, the minister reiterated the government's pledge to be in line with European safe standard of budget gap.

"We do not maintain a deficit target of 3 percent in 2013 for the sake of it: cutting debt is imperative to maintain our sovereignty and the control of our destiny," he stressed.

The ruling Socialists said 33 billion euros (40.7 billion U.S.dollars) will be needed to narrow the deficit to 3 percent of GDP in 2013. But an expected limp growth triggered concerns that the government may struggle to realize its promises of economy recovery and budget deficit cut.

Editor:James |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program