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Dt = tt Dt-1 PBt + SFt +t musing the change in the debt ratio from 2020 to 2025; Construct a table summarising how each

Dt = tt Dt-1 PBt + SFt +t

musing the change in the debt ratio from 2020 to 2025;

Construct a table summarising how each of the three components of the equation contributed to changes in the debt ratio during the COVID-19 pandemic as well as their expected contributions in the years ahead.

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