Lisbon, May 4, 2026 (Lusa) – Portugal’s public debt under the Maastricht criteria rose to 91.0% of Gross Domestic Product (GDP) in the first quarter of this year, an increase of 1.3 percentage points compared to the end of 2025, the Bank of Portugal (BdP) announced on Monday.

According to the BdP, public debt totalled €283.183 billion in March 2026, up €471 million from February. The central bank said that this change mainly reflected an increase in deposit liabilities (+€400 million). Specifically, savings certificates grew by €300 million, while deposits from public entities in the Treasury also rose by €300 million.

In contrast, Treasury bills decreased by €200 million.

Debt securities increased by €100 million in March, showing distinct trends by maturity: long-term securities grew by €1 billion, while short-term securities decreased by €900 million.

During the month under analysis, public administration deposits totalled €20 billion, €1.7 billion less than in February. After deducting these deposits, net public debt increased by €2.2 billion to €263.2 billion.

The Portuguese public debt ratio stood at 89.7% of GDP at the end of 2025, falling from the 93.6% recorded in 2024 and surpassing the 90.2% target established in the 2026 state budget.

PD/RYOL // AYLS

Lusa