Frances lowers 2012 growth forecast ahead of budget revision

(Reuters) – France will lower its economic growth forecasts for this year as part of a revised budget the government will present later this week to meet its public deficit targets, Finance Minister Pierre Moscovici said on Sunday.

The country’s national audit office is expected to reveal a shortfall of about 8 billion euros ($10.15 billion) on Monday when it publishes the results of an official review of public finances that new President Francois Hollande ordered, the Journal du Dimanche (JDD) newspaper earlier said.

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