I think what needs to be done to improve this situation is to create employment opportunities. If there is no business in the country, then it will not be possible to create employment. The government of a country alone will never be able to bring such a large population under employment. Moreover, the government of that country is usually the richest and economically powerful, where the common people are rich, where private institutions are more than government institutions.
If there is no employment, then from whom will the government receive taxes? Therefore, for the development of the country, the government must first create a favorable environment for the common people, and when the common people can create businesses, they will definitely be able to provide more taxes to the government and by receiving those taxes, they will be able to develop the country through development-oriented activities as well as some more jobs in their country.
This is what less taxing should have been about, when debt is considered. I always think employment means a lot, but not every business could have 100k+ employees when they grow, they can hire as much as they can of course, but not every business can do that, so it's definitely not that simple at all, would be pretty tough to do that.
But what they do is, they could own another business and then another, which would increase their amount of employees. So instead of going vertical with one business, they would go horizontal with many. In that situation, they can reach higher numbers employed. And that should help them with tax, the more they employ, the more tax benefit they should get. Debt of silly stuff they do, getting taken out of tax calculations, doesn't help anyone at all. Sure they might be growing, but they are fake taking debt at this point just to avoid paying huge taxes, and when you look at them on paper, you realize they can pay way more tax and still be in profit and they are not.