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France still sticking to deficit target despite lower growth

French Finance Minister Pierre Moscovici said Monday he was sticking to the aim of cutting public deficit to three percent of output this year but said the country's credibility would not be hit if it failed to do so. Moscovici's comments came after revised figures by the national statistics agency showed that the economy shrank by 0.3 percent in the fourth quarter of 2012 and growth was zero for the whole year.
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