I also want to highlight the lessons which prospective future oil and gas producers, such as countries in the East African Community, can learn from the current challenges facing the continent’s commodity producers.
A more slowly growing workforce could also tend to damp economic growth and, thus, federal tax revenues. So far, solutions to these long-term challenges have eluded policymakers. It is imperative, however, that solutions be identified and implemented. The sooner such changes are made, the less painful and disruptive they will be.