France will meet its deficit target in 2014

BRUSSELS: France, the euro zone's second-largest economy poised to miss its budget deficit target this year, will make the goal in 2014, the country's Finance Minister Pierre Moscovici told reporters on Monday.

"We need to be intelligent and find a balance between fiscal consolidation and growth...France can bring its budget deficit to below 3 percent in 2014," Moscovici said after a meeting with his euro zone counterparts.

The European Commission has forecast that France's deficit will be 3.7 percent of gross domestic product (GDP) this year - well short of the 3 percent target under European rules.