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France, the euro zone's second-biggest economy, revised its public budget deficit target for this year to 5.1% of economic output from 4.4% previously, but still aims to bring it below the EU-mandated 3% of GDP in 2027, the finance ministry said on Wednesday. With high interest rates, sluggish growth and a history of overspending, the French government is under pressure to spell out how it will avoid a budget crunch that is putting its credit ratings at risk and threatening Emmanuel Macron's government. In a briefing to reporters, finance ministry officials said the government would aim to cut an extra 10 billion euros ($11 billion) in public spending in 2024, after already announcing 10 billion euros of emergency cuts earlier this year.