Claim: "It's not worrisome... it's not worrisome...The rule of thumb... before the crisis is that if your debt-to-GDP ratio is 60%, you're okay… before the pandemic... our debt-to-GDP ratio was only in the neighborhood of 40% more or less. And we have to borrow money because of the pandemic, and it went up to around 62% but that's still manageable... Right now, because of the pandemic, I would say that the new rule of thumb should be around 70%." - Finance Secretary Benjamin Diokno
Fact-check: VERA FILES FACT CHECK: Diokno's outlook on debt-to-GDP ratio runs counter to that of Marcos
Verdict: flip-flop
Organisation: VERA Files
Author: Unknown
Date published: 2023-08-18T10:21:00