France drops growth forecast and says will miss deficit target

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Finance minister says economy will grow by just 0.4% in 2014 compared with recent 0.5%  forecast and public deficit will be 4.4% not 3.8%.

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France lowered its growth forecast again on Wednesday and warned it will need more time to bring its public deficit in line with European Union rules, as the eurozone's second-largest economy remains stuck in stagnation and low inflation, reports The Wall Street Journal.