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DUBLIN, June 1 (Xinhua) -- The Organization for Economic Cooperation and Development (OECD) on Wednesday warned of risks of overheating Irish economy.
"Fiscal policy is projected to be somewhat less contractionary than in past years, reflecting higher expenditures planned by the authorities, including a fiscal package of 1.5 billion euros for 2016," the OECD said.
"Nevertheless, most of the improvement will reflect stronger output growth, which raises taxes and reduces certain spending," it said.
But the Paris-based thinktank urged the Irish government to "avoid more fiscal stimulus than currently planned in order to prevent overheating pressures."
In its biannual Economic Outlook, the OECD said the Irish economy is projected to continue its robust expansion in 2016 and 2017.
Both Ireland's exports and business investment, which surged due to temporary impetus by multinational enterprises, will moderate but remain solid, it said.
It also said activity in Ireland's domestic sector will remain firm and employment will grow steadily.
"Wage growth will be strong as the labor market tightens. Household consumption will be solid, supported by labor earnings growth and tax cuts," the OECD said.
"The economy is projected to expand solidly, but with tightening capacity pushing up inflation," it said.
Wage growth may turn out to be much stronger than projected, lifting demand in the short run but fuelling further inflationary pressures and eroding competitiveness, according to the OECD.
"Fiscal policy may prove more expansionary than assumed, as there will be a temptation to spend the extra revenue that very high growth will bring. This would also fuel demand pressures," it said.
The OECD said the potential exit of Britain from the European Union would significantly affect the Irish economy.
It said Irish exports to Britain, accounting for 20 percent of its overall exports, would be particularly sensitive to any raising of trade barriers or a sharp depreciation of sterling.
Ireland's gross domestic product growth was forecast to moderate to 5 percent in 2016 from 7.8 percent in 2015 and to moderate further in 2017 to 3.4 percent, according to the OECD. Enditem
NEW DELHI Lucas Biglia World Cup Jersey , May 8 (Xinhua) -- A probe has been ordered into corruption allegations against Delhi Chief Minister Arvind Kejriwal, levelled by his sacked water resources minister.
A senior government official said Monday that Delhi's Lieutenant Governor Anil Baijal has asked the anti-corruption branch of Delhi Police to carry out the investigation against Kejriwal, also the head of anti-graft Aam Aadmi Party (Common People's Party).
The probe order comes in the wake of Delhi's sacked Water Resources Minister Kapil Mishra claiming Sunday Lionel Messi World Cup Jersey , a day after he was removed from the post, that he saw Kejriwal accepting a bribe of 20 million Indian rupees from another Minister Satyendra Jain, who holds the health portfolio.
Mishra also met the anti-corruption branch chief M.K. Meena Monday and submitted details of his allegations in a sealed envelope. "I have shared all the evidence with the anti-corruption branch. I am the complainant as well as the witness in this case Jonathan Maidana World Cup Jersey ," he told the media.
"I want to say that Kejriwal, Jain and I should go through a lie detector test," Mishra said Javier Pastore World Cup Jersey , when asked about the evidence he had submitted to the police.
The Delhi chief minister has not yet reacted to the allegations, but his Aam Aadmi Party (AAP) has strongly defended him and rubbished the allegations of Mishra. "The allegations are nothing but a joke. No one will believe them," Deputy Chief Minister Manish Sisodia said.
"He has cast aspersions on the chief minister. The baseless allegations are not even worth responding to. I don't even know what to say Javier Mascherano World Cup Jersey ," he said, adding that Mishra was removed by Kejriwal apparently for mismanagement in water supply across Delhi.
But Mishra has said he was removed as he had pointed out the water tanker scam in Delhi. "I told Kejriwal a number of times to act against previous Delhi Chief Minister Sheila Dikshit for her involvement in the scam but he turned a blind eye and instead removed me," he said.
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