Portugal’s public debt rose to 91% of GDP in Q1

  • ECO News
  • 4 May 2026

Portugal’s Maastricht public debt rose to 91% of GDP in the first quarter, a key metric for EU budget rules and investors tracking the country’s fiscal position.

Portugal’s public debt rose to 91% of GDP in the first quarter of 2026, up 1.3 percentage points from 89.7% at the end of 2025, according to Bank of Portugal data reported by ECOnews.

In March alone, Maastricht public debt increased by €0.5 billion to €283.2 billion, the third consecutive monthly rise. The central bank said the increase was driven mainly by higher liabilities in deposits, up €0.4 billion, notably a €0.3 billion rise in savings certificates and a further €0.3 billion increase in public entities’ deposits with the Treasury. Treasury certificates, by contrast, fell by €0.2 billion.

The Bank of Portugal also said debt securities rose by €0.1 billion in March, with different trends by maturity. Long-term securities increased by €1.0 billion, while short-term securities fell by €0.9 billion.

Public administrations’ deposit assets totalled €20 billion, down €1.7 billion from February. Net of those deposits, public debt increased by €2.2 billion to €263.2 billion, according to the central bank.

Originally published at Eco.pt