OECD praises Irish economy

IRELAND - The OECD has praised the Irish government's management of its economy and played down the prospect of it overheating.

The news will be welcomed in Dublin after the European Union issued an unprecedented reprimand in February for what it termed inflationary policies in the Irish budget.

The Organisation for Economic Cooperation and Development (OECD) said the combination of low taxes and foreign investment should result in reduced growth of 7.75% this year.

It also warned that inflation