THERE has been some confusion as to what Malaysia’s debt-to-GDP ratio should be, specifically whether the 60% statutory debt limit has been breached. Under normal circumstances, the country’s debt-to-GDP ratio should be at 62.2% — exceeding the 60% debt ceiling that was raised temporarily from 55% from last August to end-2022 to bolster its fiscal position to counter the impact of the Covid-19 pandemic.