The Philippine government’s running debt hit a new record high of P13.91 trillion as of end-April, data from the Bureau of the Treasury (BTr) showed Wednesday.

The latest figure is P54.24 billion, or 0.4% higher than the P13.856 trillion posted as of March 31, 2023.

The BTr said the increase was due to the “net issuance of external debt and local currency depreciation against the US dollar.”

According to the agency, 68% of the total debt stock was sourced locally, and 32% were foreign borrowings.

The domestic debt amounted to P9.46 trillion, or P55.32 billion, or 0.6% lower compared to the end of March 2023, while the external debt stood at P4.45 trillion, or P109.56 billion, or 2.5% higher from the previous month.