The French economy is likely to grow in the second half of this year, Finance Minister Pierre Moscovici said in an interview with RTL radio, after official data showed that the nation entered a recession in the first quarter.

Moscovici said he is confident that the unemployment will drop by the end of 2013.

Data from the statistical office Insee showed on Wednesday that the French economy slipped into a recession at the start of the year amid flagging investment and exports. Gross domestic product fell 0.2 percent in the first quarter, after a 0.2 percent contraction in the fourth quarter of 2012.