According to the Statistical Bulletin published on Tuesday by the central bank, public debt rose to €241.106 billion at the end of last year, when it totalled €231.584 billion.

In the State Budget proposal for 2017, the Portuguese government estimated that public debt would increase from 129% of GDP in 2015 to 129.7% of GDP in 2016, and estimates a reduction in 2017, to 128.3%.

The Maastricht debt calculation is used to measure the level of debt of the public sector of a country and the concept is defined in a 2009 regulation of the European Council related to the application of the excessive debt procedure of the European Union.

Euro-zone rules call for member states to have net debt of no more than 60% of GDP, and a budget deficit of 3% or less.