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French President Hollande confirms France will miss economic growth target for 2013

French President Francois Hollande has said his country will miss its economic growth target this year.

Speaking during a brief visit to Athens on Tuesday, Hollande said that "everyone knows that for 2013, we will not reach our target, which was 0.8 percent."

He said a new target would be announced by the end of March, but did not indicate what it might be.

France is waiting for the European Commission to release its economic forecasts for the 27-country EU on Friday. Based on those figures and a review by France's economic advisory panel, the government will be able to produce what Hollande called "incontestable" estimates by the end of March.