The ratio climbed to 62% this year from below 40% before Covid-19 hit as revenue fell while pandemic-related spending rose, Diokno said in a mobile-phone message on Saturday. Debt is sustainable as long as the economy expands faster than the increase in public debt, he said. President Ferdinand Marcos Jr.’s economic team is aiming for growth of 6.5% to 8% annually from 2023 to 2028.
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