French Finance Minister upbeat on growth

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French Finance Minister upbeat on growth

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French Finance Minister Pierre Moscovici is in an upbeat mood following the return from his summer break .

In a newspaper interview he said France’s economy has the potential to rebound next year and dismissed suggestions that the government should lower growth forecasts.

It is targeting growth of1.2 percent for 2013 after 0.3 percent expansion this year .

Moscovici also said France would deliver on a promise to shrink its deficit.

“We do not maintain a deficit target of 3.0 percent in 2013 for the sake of it: cutting debt is imperative to maintain our sovereignty and the control of our destiny,” Moscovici said in the interview with weekly newspaper Le Journal du Dimanche.

He said vehicle fuel price caps were back on the agenda after a recent rise in diesel and petrol prices, with a meeting planned with refiners and distributors on August 28.

“The measures to take should be the least expensive for our public finances,” said Moscovici.