The Organisation for Economic Cooperation and Development (OECD) said on Friday that the government borrowing in member states is set to reach a new high this year mainly due to increased U.S. borrowing.

According to the organization's annual sovereign borrowing outlook, gross borrowing among OECD countries on debt markets is expected to top $11 trillion in 2019, exceeding the previous record of $10.9 trillion recorded in 2010.

“While government funding needs in the wake of the financial crisis increased in most OECD countries, the recent further increase is confined to a few countries, particularly the United States,” the OECD said.