The Bank of Portugal published a statistical information note presenting Portugal’s updated annual public debt statistics as part of the second 2025 Excessive Deficit Procedure (EDP) notification to Eurostat. For 2024, the general government balance was EUR 1.5 billion (0.5% of GDP), and the public debt-to-GDP ratio fell to 93.6%, down 3.3 percentage points from 2023. Maastricht public debt increased by EUR 9.0 billion to EUR 270.9 billion in 2024, with regular revisions linked to updated sources for the EDP notification, mainly reflecting the inclusion of SATA Air Açores — Sociedade Açoriana de Transportes Aéreos, S.A. in the general government sector. The increase was driven largely by higher debt securities (+EUR 7.5 billion), particularly short-term (+EUR 5.9 billion), and loans (+EUR 1.6 billion), while deposit liabilities fell by EUR 0.1 billion as a decline in Treasury certificates (-EUR 1.3 billion) was partly offset by higher savings certificates (+EUR 0.7 billion). General government deposit assets rose by EUR 1.9 billion, putting debt net of deposits at EUR 257.6 billion (+EUR 7.1 billion). At end-2024, non-residents held 45% of Portuguese public debt, the Bank of Portugal 24%, households 17% and resident banks 11%, while 50% of debt had residual maturity over five years. The next update is scheduled for March 2026.
Bank of Portugal 2025-09-23
Bank of Portugal updates 2024 public debt and general government balance statistics in the second 2025 Excessive Deficit Procedure notification
The Bank of Portugal released updated public debt statistics for Portugal as part of the 2025 Excessive Deficit Procedure notification to Eurostat. In 2024, the public debt-to-GDP ratio decreased to 93.6%, while Maastricht public debt rose by EUR 9.0 billion to EUR 270.9 billion, driven by increased debt securities and loans. Non-residents held 45% of the debt, with 50% having a residual maturity over five years.