France sets two-percent deficit target for 2014: minister

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France is aiming to slash its public deficit to 3.0 percent of gross domestic product (GDP) by 2013 and 2.0 percent by 2014, French Budget Minister Francois Baroin said on Wednesday.

"The Germans have set their target at 0.3 percent by 2016 -- a return to a balanced budget. We have a slightly longer way to go," Baroin said.

The government is forecasting that the deficit for this year will be around 7.8 percent -- lower than initially expected because of a speed-up in growth.

© 2010 AFP

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