Malacanang is confident the government's levels of debt remain at a sustainable level.

Citing the Department of Finance (DOF), Palace Press Office Claire Castro said the P17 trillion debt puts the debt-to-gross domestic (GDP) ratio at 62 percent.

"This, according to our Department of Finance, is sustainable. We are at a sustainable level because the international threshold for the debt-to-GDP ratio is 70 percent," she said.

The World Bank said the accepted debt-to-GDP ratio is 70 percent.

The debt-to-GDP ratio compares a country’s public debt to its gross domestic product, indicating the nation’s ability to repay its debts.

The Marcos administration is aiming to bring a lower debt-to-GDP ratio to 60.4 percent this year. By 2028, it is hoped to bring it down further to 56.3 percent.

Castro said only P4 trillion was borrowed during the Marcos administration, while the rest were from previous administrations.

She noted that amount was mostly used for growth enhancing investments such as infrastructure, education, agriculture, health and social services. DMS