Lisbon, Dec. 30, 2025 (Lusa) - The Portuguese Treasury and Public Debt Management Agency has repurchased €900 million of public debt at a time of "excess liquidity in the State treasury," according to an announcement made on Tuesday morning.
"In a context of excess liquidity in the State treasury compared to the target set for the volume of deposits by the Public Administration at the end of the year", the Treasury and Public Debt Management Agency proceeded with the repurchase of €900 million in public debt, at market rates, according to a statement sent today by the Ministry of Finance.
Adding this operation to the repurchase auction on 17 December and the early repayment of debt to the European Financial Stabilisation Mechanism (EFSM) on 22nd of this month, "it was possible for the Portuguese Republic to repay, in advance, in December, around €4.5 billion of public debt, or around 1.4% of GDP".
"The continued reduction in government debt stems from the country's good economic and budgetary situation, resulting from the merit of households and businesses in creating wealth," reiterates the ministry led by Joaquim Miranda Sarmento.
In the state budget for 2026, the executive indicated that it intends to achieve surpluses of 0.3% of GDP in 2025 and 0.1% in 2026. As for the debt ratio, it estimates a reduction to 90.2% of GDP in 2025 and 87.8% in 2026.
The Treasury and Public Debt Management Agency also announced this operation, stating that, "in order to smooth the repayment profile over the next two years at a favourable cost, on 29 of December 2025", it carried out "repurchase operations of debt securities on the market with various operators for a total amount of €886 million".
This involves six debt securities, three of which are Treasury Bills maturing in May, July and September 2026, and three Treasury Bonds maturing in July 2026 and April and October 2027.
On 17 December, the Treasury and Public Debt Management Agency had acquired €1.046 billion in Treasury Bonds maturing in July 2026 and August and October 2027 in a repurchase auction.
On 22 December, the Portuguese Government repaid €2.5 billion of macro-financial assistance from the European Union in advance, leaving €19.8 billion outstanding.
This early repayment relates to the financial assistance programme for Portugal in 2011-2014.
MES/AYLS // AYLS
Lusa
